National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Denmark
Annual
DNKGDPNADSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,831,643,860,000.00
Year-over-Year Change
56.36%
Date Range
1/1/1995 - 1/1/2022
Summary
The 'Annual' series measures Denmark's gross domestic product (GDP) on an annual basis. This key economic indicator is widely used by policymakers, analysts, and researchers to assess the overall health and growth of the Danish economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Annual' series tracks Denmark's GDP, which is the total monetary value of all finished goods and services produced within the country's borders over the course of a year. It is a comprehensive measure of economic activity and a crucial gauge of a country's economic performance.
Methodology
The data is collected and calculated by Statistics Denmark, the country's central statistical agency.
Historical Context
Policymakers and economists closely monitor Denmark's annual GDP to inform economic and fiscal policies.
Key Facts
- Denmark's GDP reached a record high of $349 billion in 2021.
- The Danish economy grew by 4.9% in 2021 after contracting 2.1% in 2020 due to the COVID-19 pandemic.
- Denmark has consistently ranked among the world's most competitive and prosperous economies.
FAQs
Q: What does this economic trend measure?
A: The 'Annual' series measures Denmark's gross domestic product (GDP) on a yearly basis, providing a comprehensive assessment of the country's overall economic activity and performance.
Q: Why is this trend relevant for users or analysts?
A: Denmark's annual GDP is a crucial indicator for policymakers, economists, and investors to evaluate the health and growth of the Danish economy, which is one of the most stable and prosperous in the world.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Statistics Denmark, the country's central statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor Denmark's annual GDP to inform economic and fiscal policies, such as decisions on government spending, taxation, and monetary policy.
Q: Are there update delays or limitations?
A: The annual GDP data is typically released by Statistics Denmark with a lag of several months, as it takes time to compile and validate the comprehensive economic information.
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Citation
U.S. Federal Reserve, Annual (DNKGDPNADSMEI), retrieved from FRED.