Coat of Arms
Prime Minister Lars Løkke Rasmussen
» Danish Dane
» Unitary parliamentary constitutional monarchy
» 42,915.7 km2 (133rd)
» 5,659,715 (113th)
» $248.683 billion (52nd)
» Per capita $44,325 (19th)
» $347.196 billion (34th)
» Per capita $61,884 (6th)
» Danish krone (DKK)
» CET (UTC+1)
The Kingdom of Denmark is a sovereign state that comprises Denmark and two autonomous constituent countries in the North Atlantic Ocean: the Faroe Islands and Greenland.
Denmark proper has an area of 43,094 square kilometres(16,639 sq mi), and a population of 5,659,715 (January 2015). The country consists of a peninsula, Jutland, and the Danish archipelago of 443 named islands, of which around 70 are inhabited. The islands are characterised by flat, arable land and sandy coasts, low elevation and a temperate climate.
A Scandinavian nation, Denmark shares strong cultural and historic ties with its overseas neighbours Sweden and Norway. The national language, Danish, is very closely related and mutually intelligible with Swedish and Norwegian.
The unified kingdom of Denmark emerged in the 10th century as a proficient seafaring nation in the struggle for control of the Baltic Sea. Danish rule over the personal Kalmar Union, established in 1397 (over the Norway and Sweden), ended with Swedish secession in 1523.
However, Denmark still kept a union over Norway which lasted until its dissolution in 1814. Denmark inherited an expansive colonial empire from this union, of which the Faroe Islands and Greenland are remnants. Beginning in the 17th century, there were several
Denmark inherited an expansive colonial empire from this union, of which the Faroe Islands and Greenland are remnants. Beginning in the 17th century, there were several sessions of territory; these culminated in the 1830s with a surge of nationalist movements, which were defeated in the 1864 Second Schleswig War.
Denmark remained neutral during World War I. In April 1940, a German invasion saw brief military skirmishes while the Danish resistance movement was active from 1943 until the German surrender in May 1945.
An industrialized exporter of agricultural produce in the second half of the 19th century, Denmark introduced social and labour-market reforms in the early 20th century, making the basis for the present welfare state model with a highly developed mixed economy.
The Constitution of Denmark was signed on 5 June 1849, ending the absolute monarchy which had begun in 1660.
It establishes a constitutional monarchy—the current monarch is Queen Margrethe II—organised as a parliamentary democracy. The government and national parliament are seated in Copenhagen, the nation’s capital, largest city and main commercial centre.
Denmark exercises hegemonic influence in the Danish Realm, devolving powers to handle internal affairs. Denmark became a member of the European Union in 1973, maintaining certain opt-outs; it retains its own currency, the krone. It is among the founding members of NATO, the Nordic Council, the OECD, OSCE, and the United Nations; it is also part of the Schengen Area.
Denmark has a high-income economy that ranks 21st in the world in terms of GDP (PPP) per capita and 10th in nominal GDP per capita.
A liberalisation of import tariffs in 1797 marked the end of mercantilism and further liberalisation in the 19th and the beginning of the 20th century established the Danish liberal tradition in international trade that was only to be broken by the 1930s. Property rights have enjoyed strong protection.
Denmark’s economy stands out as one of the most free in the Index of Economic Freedom and the Economic Freedom of the World.
Denmark is one of the most competitive economies in the world according to World Economic Forum 2008 report, IMD and The Economist. The country also ranks highest in the world for workers’ rights. GDP per hour worked was the 13th highest in 2009.
The country has a market income inequality close to the OECD average, but after public cash transfers the income inequality is very low. According to the IMF, Denmark has the world’s highest minimum wage. As Denmark has no minimum wage law, the high wage floor has been attributed to the power of trade unions.
For example, as the result of a collective bargaining agreement between the 3F trade union and the employers group Horesta, workers at McDonald’s, Burger King and other fast-food chains make the equivalent of $20 an hour, which is more than double what their counterparts earn in the United States, and have access to five weeks’ paid vacation, paid maternity and paternity leave and a pension plan.
The country has very high wealth inequality with a wealth Gini coefficient of 0.808. Denmark is among the countries with the highest credit rating.
As a result of its acclaimed “flexicurity” model, Denmark has the most free labour market in Europe, according to the World Bank. Employers can hire and fire whenever they want (flexibility), and between jobs, unemployment compensation is very high (security).
Denmark is ranked 18 with an Economic Complexity Index (ECI) of 1.31625
Top 5 Products exported by Denmark
- Packaged Medicaments (8.4%),
- Refined Petroleum (5.0%),
- Crude Petroleum(4.7%),
- Pig Meat (3.6%),
- Human or Animal Blood (1.9%)
Top 5 Export destinations of Denmark
- Sweden (13%),
- Germany (13%),
- United Kingdom (9.4%),
- United States (7.6%),
- Norway (5.6%)
Tourism in Denmark constitutes a growth industry. Tourism is a major economic contributor at approx. DKK 82 billion in revenue and 120,000 full-time-equivalent-jobs annually, for the tourism experience industry alone in 2014.
Inbound tourists to Denmark mainly comprise people from neighboring countries, especially Germany, followed by Sweden,Norway, and the Netherlands. The UNWTO’s World Tourism rankings show that Denmark had 8.7 million visitor arrivals in 2010. The total annual number of overnight stays in Denmark has been somewhat declining in 2011.
Denmark has long stretches of sandy beaches, attracting many tourists in the summer, with Germany accounting for most foreign visitors. Swedish and Norwegian tourists often come to visit the relatively lively city of Copenhagen, while many young Scandinavians come for Denmark’s comparably cheap and readily accessible beer, wines and spirits.
As Europe’s oldest kingdom and the home of Hans Christian Andersen, Denmark is often marketed as a “fairytale country”. The term is so ingrained, that it is still used in international news reports, especially when the news is of a nature contradicting the image, such as the Copenhagen riots or the Jyllands-Posten Muhammad cartoons controversy.
Denmark has a relatively large outbound tourism, with Spain as primary destination, accounting for 14% of all overnight stays abroad of four days or more in 2013. Turkey ranks as the primary destination outside of Europe at 7%.
- The Danish Islands – Though not well known to casual visitors Denmark is an island nation, with 72 inhabited islands and a further 371 uninhabited ones.
- Viking heritage – Much has happened since the Danes were wreaking havoc to much of Northern Europe, but the more peaceful modern version of the Danes still take immense pride in their Viking heritage.
- World Heritage Sites – Mainland Denmark has 3 world heritage sites; The Jelling rune stones date back to 900’s have been called “Denmark’s Birth Certificate”, testamenting to Denmark’s conversion the Christianity around that time, it was erected by what is considered the first official king of Denmark, Gorm The Old, whose son is buried in another of the sights, Roskilde Cathedral, the first Gothic church in Northern Europe build of brick, and the final resting place for most Danish kings and queens ever since.
- Danish Design and Architecture – Denmark is renowned for its design heritage made famous by well-known designers, architects and companies as such.