Overview of the Danish Economy

Denmark has been a member of the European Union since 1973. Its open economy depends very heavily on commercial trade with foreign countries. Its proximity with Germany has led it to orient its economic exchanges predominantly towards the south.

However, the Danish economy has also developed in close connection with Sweden, Norway, Finland and Iceland. In spite of a halt in growth, the Danish economy continues to do well and the rate of unemployment has been stabilised (6% in the spring of 1999).

One of the emblematic figures of Danish economy is incarnated by the firm LEGO, the toy manufacturer. Imports and exports of goods and services constitute 33% and 36%, respectively, of its GNP (1997). Almost 70% of its commercial trade is with countries of the European Union.

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