ew:
This modern economy features high-tech agriculture, up-to-date small-scale
and corporate industry, extensive government welfare measures, comfortable
living standards, and high dependence on foreign trade. Denmark probably
will continue its successful economic recovery in 1992 with tight fiscal and
monetary policies and export- oriented growth. Prime Minister Schluter's
main priorities are to maintain a current account surplus in order to pay
off extensive external debt and to continue to freeze public-sector
expenditures in order to reduce the budget deficit. The rate of growth by
1993 - boosted by increased investment and domestic demand - may be
sufficient to start to cut Denmark's high unemployment rate, which is
expected to remain at about 11% in 1992. Low inflation, low wage increases,
and the current account surplus put Denmark in a good competitive position
for the EC's anticipated single market, although Denmark must cut its VAT
and income taxes.
GDP:
purchasing power equivalent - $91.1 billion, per capita $17,700; real growth
rate 2.0% (1991)
Inflation rate (consumer prices):
2.4% (1991)
Unemployment rate:
10.6% (1991)
Budget:
revenues $44.1 billion; expenditures $50 billion, including capital
expenditures of $NA billion (1991 est.)
Exports:
$37.8 billion (f.o.b., 1991)
commodities:
meat and meat products, dairy products, transport equipment (shipbuilding),
fish, chemicals, industrial machinery
partners:
EC 54.2% (Germany 22.5%, UK 10.3%, France 5.9%), Sweden 11.5%, Norway 5.8%,
US 5.0%, Japan 3.6% (1991)
Imports:
$31.6 billion (c.i.f., 1991)
commodities:
petroleum, machinery and equipment, chemicals, grain and foodstuffs,
textiles, paper
partners:
EC 52.8% (Germany 22.5%, UK 8.1%), Sweden 10.8%, US 6.3% (1991)
External debt:
$45 billion (1991)
Industrial production:
growth rate 0% (1991 est.)
Electricity:
11,215,000 kW capacity; 31,000 million kWh produced, 6,030 kWh per capita
(1991)
Industries:
food processing, machinery and equipment, textiles and clothing, chemical
products, electronics, construction, furniture, and other wood products
Agriculture:
accounts for 4.5% of GDP and employs 6% of labor force (includes fishing and
forestry); farm products account for nearly 15% of export revenues;
principal products - meat, dairy, grai