StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Characteristics of Denmark's Economy - Research Paper Example

Cite this document
Summary
As the paper "Characteristics of Denmark's Economy" tells, Denmark’s economy is modern comprising an agricultural sector high-tech in nature, increased foreign trade dependence, and state of an art industry boasting global leaders in renewable energy, maritime shipping, and pharmaceuticals firms…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.2% of users find it useful
Characteristics of Denmarks Economy
Read Text Preview

Extract of sample "Characteristics of Denmark's Economy"

Denmark is a European Union (EU) member meaning that most of its regulations and legislation match the standards of the European Union.

            The country exists along the strongest supporters of trade liberalization within the European Union. After an extended upswing driven by consumption, its economy started dawdling in the year 2007 accompanied by the ending of the housing boom. In the years 2008 and 2009, the prices of houses significantly dropped, and have continued dilapidating. This decline has been worsened by the global financial crisis. The decline also increased the costs incurred in borrowing leading to decreased consumer confidence, reduced export demand, and lesser investments (Country Economic Forecast, 2012).

            Seventy-five percent of the country’s Gross Domestic Product (GDP) is accounted for by the service industries. On the other hand, the agricultural sector recorded reduced results since the finish of World War II. These proportions of the sectors’ contribution are also portrayed in employment; the agricultural sector accounts for 1.6%, the services sector 73%, and the industrial sector 25%. The country’s labor force is extensively unionized where 70-75% of total workers associate with the Confederation of trade unions (COTU); the unions exhibit cooperative relationships with the economy’s employers. Similar to other Nordic nations, women’s employment and participation rates are high (Country Economic Forecast, 2012).

            The country has a monarchy style of leadership; with Queen Margrethe II being the state’s head. The country has a high degree of accountability and transparency evidenced by the political institutions’ affairs satisfaction. It is considered to be among the least corrupt countries. It's corporate tax and VAT rates stand at 25%. The objective of the country’s central bank is inflation stabilization (Country Economic Forecast, 2012).

            The estimated country’s Gross Domestic Product for the year 2012 was $ 208.5 billion, the GDP per capita estimate for the year 2012 was $ 37,700, and the GDP real growth estimate for the year 2012 was -0.4%. Unemployment rate estimate and inflation6.4% and consumer price inflation 2.4% (Central Intelligence Agency, 2013; Country Economic Forecast, 2012). The country's ethnic groups comprise Faroese, Somali, Turkish, Scandinavian, Iranian, German, and Inuit. The life expectancy, migration, and education literacy measures are 79 years, 2.36 migrants/per 1,000 population, and 99% respectively (central intelligence agency, 2013; United Nations Development Program, 2013). The literacy level estimate is for the year 2003.

            The country’s ranking comparisons to the other global countries are as follows; net migration rate 33rd, life expectancy 48th, unemployment 67th, GDP 54th, GDP real growth 192nd, GDP per capita 32nd, and inflation 61st (Central Intelligence Agency, 2013). The forecasted trend in the indicators from the year 2012 to the year 2017 follows real GDP growth -0.4%, 0.8%, 1.4%, 1.7%, 1.9%, and 1.8% consecutively while inflation is 2.4%, 2.1%, 2.3%, 2.2%, 2.1% and 2.1% consecutively (Country Economic Forecast, 2012). The GDP real forecast growth trend shows improvements, a condition depicting economic growth. On the other hand, the forecast trend of the inflation records declines, also a symbol of a growing economy. Therefore the county, in comparison to other global countries and under the changing economic conditions is in a better position to grow or expand further.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Denmark Research Paper Example | Topics and Well Written Essays - 500 words - 1”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1620972-denmark
(Denmark Research Paper Example | Topics and Well Written Essays - 500 Words - 1)
https://studentshare.org/macro-microeconomics/1620972-denmark.
“Denmark Research Paper Example | Topics and Well Written Essays - 500 Words - 1”, n.d. https://studentshare.org/macro-microeconomics/1620972-denmark.
  • Cited: 0 times

CHECK THESE SAMPLES OF Characteristics of Denmark's Economy

Wind-Turbine Industry in Denmark

Furthermore, the proponent includes the characteristics of the innovation system and the corresponding impacts on other industries and technologies.... The following paper under the title 'Wind-Turbine Industry in Denmark' gives detailed information about the wind-turbine industry as flourishing in Denmark partly because of its significant advantages over the other energy-generating sectors in the country....
11 Pages (2750 words) Essay

Global Society

The country has not been involved in any conflicts with its neighbours – an aspect that has led to steady growth of its economy.... denmark's climatic conditions are temperate.... name: Subject: Denmark Geography Denmark is a small country with a total area of 43,094 square kilometres....
4 Pages (1000 words) Research Paper

Economy and Society in Europe a Relationship in Crisis

Up to date, business organizations, irrespective of their sizes are responsible for employing a large percentage of workers in Continental Europe, and the Anglo-American economy.... These firms account for wealth creation in Europe, and they determine the political organizations which are responsible for regulating the society and the economy.... This is because the level of competition within an economy will most definitely determine the prices of products sold in the economy....
7 Pages (1750 words) Essay

The Global Economy-Depending on the Authorities

In the paper 'The Global economy-Depending on the Authorities' the author discusses a trinity of characteristics that differentiate the modern world-capitalist system from earlier historical social systems.... These characteristics tend to highlight the economy/polity contradiction.... The author states that the economic interlinkages coupled with the integration of the world economy are more thorough and wide-ranging than its political counterparts, which are more sectioned and geographically limited....
7 Pages (1750 words) Assignment

Labor Economics: The Factors That Contribute To The Minimum Wage

The main objective of the assignment "Labor Economics: The Factors That Contribute To The Minimum Wage" is to investigate the relationship between the unemployment rate and the value of the minimum wage.... Furthermore, the writer addresses the decline in the minimum wage.... ... ... ... The difference between Q0 and Q1 unemployment....
11 Pages (2750 words) Assignment

Escherichia Coli Diarrhea, Hepatitis A, Cholera, Toxoplasmosis and Lyme Disease

The paper "Escherichia Coli Diarrhea, Hepatitis A, Cholera, Toxoplasmosis and Lyme Disease " discusses that Lyme disease is a bacterial infection that is caused by the spirochaete Borrelia burgdorferi.... This bacterium also possesses several serotypes.... .... ... ... Lyme disease is a bacterial infection that occurs throughout Denmark....
2 Pages (500 words) Essay

Co-Evolution of Innovation Policy in Demark

Modern researchers who have tried to understand the correlation between denmark's innovation policy and industrial structure have come to conclude that a very central part of that country's innovation policy has depended on the technology perspective of innovation.... The paper 'Co-Evolution of Innovation Policy in Demark' seeks to evaluate innovation policy and industrial structure in Denmark, which has been two perspectives of economic impact that have coordinated for a very long time....
23 Pages (5750 words) Term Paper

What Marketing Strategy Should the UK Firm Device to Expand Its Exporting

Therefore, the easiest marketing strategy should entail product characteristics, brand name, packaging, and equal labeling.... The paper 'What Marketing Strategy Should the UK Firm Device to Expand Its Exporting?... is a persuasive example of a marketing literature review.... The advent of globalization is quickly transforming international marketing....
6 Pages (1500 words) Literature review
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us