Economy - overview: This thoroughly modern market 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 is a net exporter of food. The center-left coalition government will concentrate on reducing the persistently high unemployment rate and the budget deficit as well as following the previous government's policies of maintaining low inflation and a current account surplus. The coalition also vows to maintain a stable currency. The coalition has lowered marginal income taxes while maintaining overall tax revenues; boosted industrial competitiveness through labor market and tax reforms and increased research and development funds; and improved welfare services for the neediest while cutting paperwork and delays. Prime Minister RASMUSSEN's reforms focus on adapting Denmark to the criteria for European integration by 1999; Copenhagen has won from the European Union (EU) the right to opt out of the European Monetary Union (EMU). Denmark is, in fact, one of the few EU countries likely to fit into the EMU on time.
GDP: purchasing power parity - $118.2 billion (1996 est.)
GDP - real growth rate: 2% (1996 est.)
GDP - per capita: purchasing power parity - $22,700 (1996 est.)
GDP - composition by sector: agriculture: 4% industry: 27% services: 69% (1995)
Inflation rate - consumer price index: 2.1% (1996 est.)
Labor force: total: 2,895,950 by occupation: private services 40%, government services 30%, manufacturing and mining 19%, construction 6%, agriculture, forestry, and fishing 5% (1995)
Unemployment rate: 8.2% (November 1996)
Budget: revenues: $62.1 billion expenditures: $66.4 billion, including capital expenditures of $NA (1996 est.)
Industries: food processing, machinery and equipment, textiles and clothing, chemical products, electronics, construction, furniture, and other wood products, shipbuilding