The Danish economy advanced 0.5 percent on quarter in the fourth quarter of 2016, slowing from a downwardly revised 0.6 percent expansion in the previous period and higher than preliminary estimates of 0.2 percent growth. Household consumption rebounded (1.5 percent compared to -0.5 percent in Q3); exports went up 4.7 percent (0.7 percent in Q3) and imports rose 3.6 percent (3.5 percent in Q3). Meanwhile, gross fixed capital formation increased at a slower pace (0.9 percent compared to 1.4 percent in Q3). In contrast, government spending contracted 0.7 percent (0.3 percent in Q3). Year-on-year, the economy advanced 2.3 percent, higher than a 1.5 percent expansion in the previous period. GDP Growth Rate in Denmark averaged 0.39 percent from 1991 until 2016, reaching an all time high of 3 percent in the second quarter of 2006 and a record low of -2.40 percent in the fourth quarter of 2008.
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With very few natural resources, Denmark industrialized market economy depends on imported raw materials and foreign trade. On the expenditure side, 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. This page provides the latest reported value for – Denmark GDP Growth Rate – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Denmark GDP Growth Rate – actual data, historical chart and calendar of releases – was last updated on April of 2017.