• GDP: US$174.4 billion.
• Main exports: Machinery, foodstuffs, chemicals, windmills and ships.
• Main imports: Consumer goods, chemicals, foodstuffs, petroleum and raw materials.
• Main trade partners: UK, USA, Sweden, Norway and Germany.

The standard of living is generally high, with annual GDP per capita of US$32,200. Compared to most industrialised countries, Denmark retains a large and important agricultural sector, two-thirds of whose produce is exported. Danish manufacturing depends on imports of raw materials and components. Iron, steel and the production of other metals are the most important industries, followed by electronics, chemicals and biotechnology, paper and printing, textiles, furniture and cement. Food processing and drinks also make a significant contribution. Since the discovery of offshore oil and gas reserves in the 1980s, production has gradually increased to the point where the country can meet all its domestic energy needs. Most of Denmark’s trade is conducted within the EU, of which it is a member, although it has proved reluctant to adopt measures which are perceived as threatening to its sovereignty. It has thus so far refused to join the single European currency zone. Recent economic performance has been steady: inflation (2 per cent) and unemployment (6 per cent) are near the EU average; in 2004, annual growth remained at 0 per cent. Denmark is a member of the Nordic Union. Its links with Scandinavia have been further enhanced by the road and rail bridge linking it to Sweden across the Øresund Strait which opened in 2000.

English is widely used for all aspects of business. Local businesspeople expect visitors to be punctual and the approach to business is often direct and straightforward. Avoid business visits from mid-June to mid-August, which are prime holiday periods. Office hours: Mon-Fri 0900-1600/ 1730 (some offices close earlier Fri).

Handelskskammeret (Danish Chamber of Commerce)
Børsen, DK-1217 Copenhagen K, Denmark
Tel: 7013 1200.
Website: www.hts.dk