Flag description: red with a white cross that extends to the edges of the flag; the vertical part of the cross is shifted to the hoist side, and that design element of the Dannebrog (Danish flag) was subsequently adopted by the other Nordic countries of Finland, Iceland, Norway, and Sweden
@Denmark:Economy
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. Growth may fall off slightly to 2.8% in 1998, and inflation may rise to 2.5%.
GDP: purchasing power parity-$122.5 billion (1997 est.)
GDP-real growth rate: 3% (1997 est.)
GDP-per capita: purchasing power parity-$23,200 (1997 est.)
GDP-composition by sector: agriculture: 4% industry: 27% services: 69% (1995)
Inflation rate-consumer price index: 2.2% (1997 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: 7.9% (1997 est.)