International business in Denmark

International business in Denmark

International business in Denmark

Denmark has transformed into a prosperous and modern nation that actively participates in the general, political and the economic integration of Europe. Since its economy has been doing more than fine, this great European nation has become a promising location for international business investors.

Denmark also provides free basic health care and emergency hospitalization through their tax structure, which is one of the highest in the world. Danes are also offered college education for free.

Vital data points in Denmark

Population (million) 6
GDP (billion USD) 295
GDP per capita (USD) 53,418
GDP per capita PPP (USD) 49,496
Purchasing power per dollar, compared to the USA 74%
Surface area (sq km) 43,090
% of population living in urban areas 88%
% of GDP added by agriculture - industry - services 1% - 23% - 76%
Ease of doing business index (1 = best, 180 = lowest) 4

Business culture and index

According to the data from the World Bank in the year 2014, Denmark ranked number 4 out of 180 countries in the ease of doing business index. In other words, it is one of the best countries to do business in. It is also known to have the highest employment rate in all of Europe, which is about 75%.

Denmark’s most inviting business sectors

Metal, food processing, textile and clothing, electronics, construction, furniture, pharmaceuticals and medical equipment are some of the key industries in Denmark and worth exploring.

Denmark’s top export commodities

  • Machinery and instruments
  • Meat and meat products
  • Dairy products
  • Fish
  • Pharmaceuticals
  • Furniture
  • Windmills

Denmark’s top export partners (percentage of top exports)

  • Germany (18.6%)
  • Sweden (12.1%)
  • UK (8.1%)
  • US (6.7%)
  • Norway (6.5%)
  • Netherlands (4.4%)

What is Denmark’s political make up?

Denmark is a Constitutional Monarchy in which the Monarchical Head receives a title via hereditary means. The Prime Minister on the other hand is elected via legislative elections as the leader of the majority party. The monarch officially appoints the Prime Minister.

The next elections are scheduled to be held in June 2019.

Denmark’s national holiday list 2016

The following is a list of national holidays for Denmark in 2016. Most offices, institutes and colleges are non-operational on these days

Date Holiday
January 1 New Year’s Day
February 7 Carnival Day
March 24 Maundy Thursday
March 25 Good Friday
March 27 Easter
March 28 Easter Monday
April 22 Great Prayer Day
May 5 Ascension Day
May 15 Whit Sunday
May 16 Whit Monday
December 25 Christmas Day
December 26 2nd Christmas Day

Denmark is a progressive nation with an advanced economy. With a reputation of being modern and high tech, we can see signs of the nation’s futuristic outlook in sectors such as agriculture, renewable energy, and pharmaceuticals among others.Though Denmark is an active exporter, it relies heavily on raw materials from international locations for the purpose of manufacturing.

It plays host to many trade shows in the areas of agriculture, finance, energy, transport and more, making it a global business destination.

However it’s imperative that one undertakes extensive market research and studies important data about the country and industry one wishes to enter in Denmark.

This entry in Europe was updated on July 10, 2017 by specialist.