This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatization of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but Denmark has decided not to join the 12 other EU members in the euro; even so, the Danish Krone remains pegged to the euro. Given the sluggish state of the European economy, growth in 2003 was a mere 1.1%.

purchasing power parity - $155.3 billion (2002 est.)

1.6% (2002 est.)

purchasing power parity - $28,900 (2002 est.)

agriculture: 3%
industry: 26%
services: 71% (2002 est.)

NA%

2.3% (2002 est.)

2.856 million (2000 est.)

services 79%, industry 17%, agriculture 4% (2002 est.)

5.1% (2002)

food processing, machinery and equipment, textiles and clothing, chemical products, electronics, construction, furniture and other wood products, shipbuilding, windmills

1.4% (2002 est.)