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. source: Statistics Denmark

GDP Growth Rate in Denmark averaged 0.40 percent from 1991 until 2021, reaching an all time high of 6.30 percent in the third quarter of 2020 and a record low of -6.80 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 June of 2021.

GDP Growth Rate in Denmark is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Denmark to stand at 0.80 in 12 months time. 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
-1.30 0.80 6.30 -6.80 1991 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-02-26 07:00 AM QoQ Prel Q4 0.6% 5.2% 0.6%
2021-03-31 06:00 AM QoQ Final Q4 0.7% 6.3% 0.6%
2021-05-17 06:00 AM QoQ Adv Q1 -1.5% 0.7% -0.3%
2021-05-31 06:00 AM QoQ Prel Q1 -1.3% 0.8% -1.5%
2021-06-30 06:00 AM QoQ Final Q1 -1.3%
2021-08-13 06:00 AM QoQ Adv Q2 0.9%
2021-08-31 06:00 AM QoQ Prel Q2
2021-09-30 06:00 AM QoQ Final Q2


News Stream
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
Danish GDP Contracts 1.5% in Q1
The Danish economy contracted by 1.5 percent on quarter in the three months to March of 2021, reversing a 0.7 percent expansion in the previous period, due to partial lockdown measures to contain the spread of coronavirus, a flash estimate showed. Negative contributions to GDP came from consumer-related services including restaurants, culture and retail sales. On the other hand, industrial production grew.
2021-05-17
Danish GDP Growth Revised Up to 0.7% in Q4
The Danish economy expanded by 0.7 percent on quarter in the three months to December of 2020, higher than an initially estimates of 0.6 percent growth, but easing sharply from an upwardly revised 6.3 percent growth in the previous period, due to a partial lockdown in December to contain the spread of coronavirus. Both fixed investment (1.3% vs 4.0% in Q3) and household consumption (0.8% vs 6.2%) expanded less. At the same time, net external demand contributed negatively to GDP growth, as exports fell by 0.4 percent (vs 6.7% in Q3) while imports increased 2.2 percent (vs 6.0% in Q3). On the other hand, government spending continued to grow (5.1% vs 0.6% in Q3). Year-on-year, the economy shrank by 1.5 percent, following a downwardly revised 2.2 percent fall in the third quarter. Considering full 2020, the GDP contracted by 2.7 percent, reversing from a downwardly revised 2.8 percent growth in 2019.
2021-03-31
Danish GDP Growth Eases to 0.6% in Q4
The Danish economy expanded by 0.6 percent on quarter in the three months to December of 2020, easing sharply from a 5.2 percent growth in the previous period, due to a partial lockdown in December to contain the spread of coronavirus, a preliminary estimate showed. Both fixed investment (0.9% vs 3.5% in Q3) and household consumption (1.1% vs 4.1%) expanded less. At the same time, net external demand contributed negatively to GDP growth, as exports fell by 0.6 percent (vs 6.3% in Q3) while imports increased 1.8 percent (vs 5.8% in Q3). On the other hand, government spending continued to grow (6.8% vs 1.0% in Q3). Year-on-year, the economy shrank by 2.6 percent, following a downwardly revised 3.1 percent fall in the third quarter. Considering full 2020, the GDP contracted by 3.3 percent, reversing from a 2.9 percent growth in 2019.
2021-02-26

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.