Denmark has been a modern market economy with world-leading firms in maritime shipping and a high dependence on foreign trade. The country was strongly hit by financial crisis, due to its high degree of openness to international trade and to the high level of financialisation of its economy. However, profiting from the resumption of trade, Denmark has experienced a more dynamic economic recovery than its European neighbours. In spite of the financial upheaval in the ED, Denmark's fiscal position remains amongst the strongest in the ED. Denmark made a modest recovery in 2010 in part because of increased government spending. In terms of GDP, Denmark is the 52nd largest economy in the world, while in terms of per capita income; it is the 31st largest economy in the world.

Denmarks Global Imports & Exports

The country's global imports declined heavily in 2009 by 25.4 per cent and the total imports were US$ 79.2 billion. India was ranked at the 20th position with 0.9 per cent share amongst the import partners of Denmark. Imports from India had declined by 14.2 per cent in 2009. The major supplier countries to Denmark were Germany, Sweden, Netherlands, China, UK, Norway, Italy, France, Belgium and USA, constituting 73.1 per cent.

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Originally published in Apparel India, Feb-2011 (Vol.3 Issue 2)