Denmark’s economy experienced one of the lowest declines worldwide during the COVID-19 pandemic with economic growth of 3.8% in 2022. In August, the country lifted its economic forecast for 2023 from 0.6% to 1.2% due to a significant boost in pharmaceutical exports and high employment, with GDP growth of 1.4% expected in 2024.
Denmark is a European leader in both digitization and green technologies, particularly offshore wind. In the 2022 European Digital Economy and Society Index, the country ranked second highest in its digitization efforts in Europe behind Finland. The US International Trade Administration valued the Danish information and communication sector at $35 billion last year. The Energy Technology Development and Demonstration program supports both the private sector and academia in developing new sustainable projects, with more than $875 million poured into more than 1,000 energy projects since it started in 2007.
The USA is a close partner to Denmark as its largest non-European trading partner, with significant exports including industrial machinery, life science products and agrifoods. Additionally, more than 400 US companies are currently active in the local market.
“Denmark's financial landscape is characterized by a distinctive mortgage system that makes households affordable and a flourishing asset management industry with a significant focus on sustainability.”
"Denmark is actively engaged in various cutting-edge fields, including life science, pharmaceuticals, artificial intelligence and the green energy transition."
"Danish investments in the US have achieved a new record this year, mirroring the upward trend in US investments in Denmark. The focus of Danish investment in the US lies predominantly in green technologies and solutions."