GDP reading: Hong Kong’s GDP expanded 5.9% in annual terms in Q1, following 4.0% growth in the previous quarter and...
Economic Growth in Denmark
Denmark's economy recorded an average growth rate of 2.0% in the decade to 2024, compared to the 1.7% average for Nordic Economies. In 2024, real GDP growth was 3.5%. For more GDP information, visit our dedicated page.
Denmark GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Denmark from 2014 to 2025.
Source: Macrobond.
Denmark GDP Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Economic Growth (Real GDP, ann. var. %) | 6.5 | 0.4 | 0.6 | 3.5 | 2.3 |
| GDP (USD bn) | 406 | 400 | 405 | 424 | 463 |
| GDP (EUR bn) | 343 | 381 | 374 | 392 | 405 |
| GDP (DKK bn) | 2,553 | 2,831 | 2,788 | 2,927 | 3,063 |
| Economic Growth (Nominal GDP, ann. var. %) | 9.7 | 10.9 | -1.5 | 5.0 | 4.6 |
Revised figures confirm GDP growth decelerated in Q4 2025
Revision confirms the weakest GDP growth in three quarters: According to recently revised figures, Denmark's GDP expanded 0.2% in seasonally adjusted quarter-on-quarter terms in Q4, following the previous quarter’s nearly four-year high of 2.3% growth. Q4’s print, which matched the preliminary reading, was the weakest in three quarters. In annual terms, GDP expanded 3.1% in Q4, following a 4.0% expansion in the prior quarter. Finally, over 2025 as a whole, economic growth clocked in at 2.9% (2024: +3.5%) and exceeded the prior decade average.
Drivers: The revised print shows that relative to the prior period's data, figures in Q4 worsened for private consumption (+0.5% in seasonally adjusted quarter-on-quarter terms vs +1.0% in Q3), fixed investment (-1.9% vs +1.6% in Q3), exports of goods and services (-0.7% vs +3.7% in Q3) and imports of goods and services (-0.6% vs +0.0% in Q3). That said, the reading for government spending improved (+5.0% vs +1.4% in Q3).
Sequential GDP growth to ease in Q1: Our panelists expect GDP to contract sequentially in Q1. Looking at 2026 as a whole, GDP growth is set to hit a three-year low—but should still remain among the fastest in the Nordics region; low interest rates and unemployment plus greater fiscal stimulus will boost domestic demand. The main two-sided risk to the outlook is volatility in the pharmaceutical sector’s performance.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Danish GDP projections for the next ten years from a panel of 19 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Danish GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Danish GDP projections.
Want to get access to the full dataset of Danish GDP forecasts? Send an email to info@focus-economics.com.
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