Denmark GDP Growth Rate

Last Release

Dec 31, 2024

Actual

1.6

Units In

1.2

Frequency

Quarterly

Next Release

Jun 30, 2025

Time to Release

2 Months 28 Days 5 Hours

Highest	Lowest	Average	Date Range	Source
6.1 Sep 2020	-6.4 Jun 2020	0.44 %	1991-2024	Statistics Denmark

In Denmark, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by government expenditure (27 percent, the highest among EU countries) and gross fixed capital formation (19 percent). Exports of goods and services account for 54 percent of GDP while imports account for 48 percent, adding 6 percent of total GDP.

Latest Updates

Denmark’s economy expanded by 1.8% quarter-on-quarter in the final quarter of 2024, higher than a preliminary estimate of 1.6%, following a 1.2% growth in the previous period. This marked the third consecutive quarter of expansion and the strongest growth since the first quarter of 2023, primarily driven by the pharmaceutical industry. Household consumption increased (0.7% vs 0.3%), as did government spending (1.6% vs 0.5%). Additionally, fixed investments rose significantly (10.1% vs 2.3%), led by investments in intellectual rights (32.4% vs -0.2%) and machinery, means of transport, etc. (9.9% vs 3.7%). However, net external demand weighed on GDP, as imports (4% vs 0.2%) increased more than exports (3.4% vs 0.8%). On an annual basis, GDP grew by 4.4% in the December quarter, up from a previous estimate of 4.1%, following a 3.7% rise in the prior quarter. For the full year of 2024, GDP increased by 3.7%.