DANISH ECONOMY

This modern market economy features a high-tech agricultural sector, world-leading firms in pharmaceuticals, maritime shipping and renewable energy.

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According to the World Bank, Denmark ranked as the world’s fourteenth highest per capita income in 2016. In the same year, it was considered as the fifth country in United Nations’ Human Development Index.

Denmark has a mixed economy based on services and manufacturing. It relies heavily on human resources, but not exclusively, as there are a few significant and valuable natural resources available, including mature oil and gas wells in the North Sea. Cooperatives form a large part of some industries, be it in housing, agriculture or retail, and foundations play a large role as owners of private sector companies. For many years, Denmark has had one of the world’s lowest levels of income inequality, according to the World Bank.

The unemployed rate in 2017 has remained steady around 5.7%.