Denmark: Trade down

The Danish economy is currently experiencing its worst recession in over four decades. The downturn, which started with the unwinding of the property boom, has now been compounded by the trade and financial effects of the global economic crisis.

Monthly goods trade data point to a sharp fall in both imports and exports. Business sentiment has deteriorated rapidly and the number of business bankruptcies has soared. GDP is projected to contract sharply in 2009.

The capacity pressures evident in recent years have disappeared and economic slack is widening. There would be scope for additional fiscal policy stimulus in 2010. Monetary policy should be eased in line with policy in the euro area and as foreign exchange market conditions allow.

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See also www.oecd.org/denmark

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©OECD Observer No 274, July 2009




Economic data

GDP growth: +0.2% Q4 2019
Consumer price inflation: 2.3% January 2020
Trade (G20): -0.1% exp, -1.3% imp, Q4 2019
Unemployment: 5.1% January 2020
Last update: 11 March 2020

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