The Danish economy expanded by 2.3 percent on quarter in the three months to June of 2021, recovering from a downwardly revised 0.9 percent contraction in the previous period, due to a gradual reopening of the economic activities, a preliminary estimate showed. Both household consumption (4.4% vs -5.2% in Q1) and government spending (2.5% vs -1.8%) rebounded sharply. Also, fixed investment grew by 3.7 percent, rebounding from a 3.8 percent fall in Q1. Meanwhile, net external demand contributed negatively to the GDP growth, as exports shrank by 2.5 percent (vs 3.8% in Q1) while imports increased 0.2 percent (vs -4.0% in Q1). Year-on-year, the economy advanced by 8.5 percent, recovering sharply from a downwardly revised 0.7 percent contraction in the first quarter. source: Statistics Denmark

GDP Growth Rate in Denmark averaged 0.42 percent from 1991 until 2021, reaching an all time high of 6.10 percent in the third quarter of 2020 and a record low of -6.40 percent in the second quarter of 2020. This page provides the latest reported value for - Denmark GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Denmark GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.

GDP Growth Rate in Denmark is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Denmark GDP Growth Rate is projected to trend around 0.70 percent in 2022 and 0.50 percent in 2023, according to our econometric models.

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Denmark GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.30 -0.90 6.10 -6.40 1991 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-05-31 06:00 AM QoQ Prel Q1 -1.3% 0.8% -1.5%
2021-06-30 06:00 AM QoQ Final Q1 -1% 0.9% -1.3%
2021-08-16 06:00 AM QoQ Adv Q2 2.2% -1% 0.9%
2021-08-31 06:00 AM QoQ Prel Q2 2.3% -0.9% 2.2%
2021-09-30 06:00 AM QoQ Final Q2 -0.9% 2.3%
2021-11-12 07:00 AM QoQ Adv Q3 1.5%
2021-11-30 07:00 AM QoQ Prel Q3
2021-12-23 07:00 AM QoQ Final Q3


News Stream
Danish Economy Rebounds in Q2
The Danish economy expanded by 2.3 percent on quarter in the three months to June of 2021, recovering from a downwardly revised 0.9 percent contraction in the previous period, due to a gradual reopening of the economic activities, a preliminary estimate showed. Both household consumption (4.4% vs -5.2% in Q1) and government spending (2.5% vs -1.8%) rebounded sharply. Also, fixed investment grew by 3.7 percent, rebounding from a 3.8 percent fall in Q1. Meanwhile, net external demand contributed negatively to the GDP growth, as exports shrank by 2.5 percent (vs 3.8% in Q1) while imports increased 0.2 percent (vs -4.0% in Q1). Year-on-year, the economy advanced by 8.5 percent, recovering sharply from a downwardly revised 0.7 percent contraction in the first quarter.
2021-08-31
Danish Economy Rebounds in Q2
The Danish economy advanced by 2.2 percent on quarter in the three months to June of 2021, rebounding from a 1.0 percent contraction in the previous period, due to a gradual reopening of the economic activities, a flash estimate showed. Positive contributions to GDP mainly came from catering, culture and retail trade, and health sector.
2021-08-16
Danish Q1 Economy Shrinks Less than Initially Thought
The Danish economy shrank by 1.0 percent on quarter in the three months to March of 2021, compared with a preliminary estimate of a 1.3 percent fall, reversing from an upwardly revised 0.9 percent expansion in the previous period, due to the partial lockdown measures to contain the spread of coronavirus. Both household consumption (-4.5% vs 0.9% in Q4 2020) and government spending (-2.9% vs 5.2%) contracted. Also, fixed investment shrank by 4.4 percent, reversing from a 9.0 percent growth in Q4. Meanwhile, net external demand contributed positively to the GDP growth, as exports grew by 3.9 percent (vs 0.1 percent in Q4) while imports fell 3.4 percent (vs 5.1% in Q4). Year-on-year, the economy contracted by 0.8 percent, following a revised 0.5 percent decline in the fourth quarter.
2021-06-30
Danish Economy Shrinks 1.3% in Q1
The Danish economy shrank by 1.3 percent on quarter in the three months to March of 2021, reversing from an upwardly revised 0.8 percent expansion in the previous period, due to the partial lockdown measures to contain the spread of coronavirus, a preliminary estimate showed. Both household consumption (-5.0% vs 1.0% in Q4 2020) and government spending (-2.2% vs 5.2%) contracted. Also, fixed investment shrank by 0.5 percent, reversing from a 1.2 percent growth in Q4. Meanwhile, net external demand contributed positively to the GDP growth, as exports grew by 6.1 percent (after showing no growth in Q4) while imports increased at a softer 1.6 percent (vs 2.3% in Q4). Year-on-year, the economy contracted by 1.3 percent, following a downwardly revised 1.4 percent decline in the fourth quarter.
2021-05-31

Denmark GDP Growth Rate
In Denmark, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by government expenditure (27 percent, the highest among EU countries) and gross fixed capital formation (19 percent). Exports of goods and services account for 54 percent of GDP while imports account for 48 percent, adding 6 percent of total GDP.