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. Denmark chose not to join the 11 other EU members who launched the euro on 1 January 1999. Because of the global slowdown, GDP growth may fall to 1% in 1999.
GDP: purchasing power parity—$124.4 billion (1998 est.)
GDP—real growth rate: 2.6% (1998 est.)
GDP—per capita: purchasing power parity?$23,300 (1998 est.)
GDP—composition by sector: agriculture: 4% industry: 27% services: 69% (1997)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: 3.6% highest 10%: 20.5% (1992)
Inflation rate (consumer prices): 1.8% (1998 est.)
Labor force: 2,895,950