Denmark Economy

Denmark is an advanced industrial country, a standard of living and social guarantees of its population being one of the highest in the world. In economy the private sector prevails, but the state makes considerable impact by means of monetary and credit, financial and a tax policy, granting money to agriculture. The state owns many municipal enterprises and the most part of means air and a railway transportation.Dominant positions in economy of Denmark in the second half of XX-th century were won by sphere of services. The basic branches, in which  private services are spread are banking, insurance and the finance, tourism, transport and trade.

In 90-s Denmark had various industry, and any of branches didn’t occupy an ascendent position in economy. The structure of the industry of Denmark is based on its agricultural production, on oil and gas stocks in the North Sea, on resources of limestones  and on a wide spectrum of import raw materials. The important factor is presence of the qualified labor.
Having the limited stocks of hydraulic power and brown coal, to 1980 Denmark  has been compelled to import almost all energy carriers. In 1966 in the Danish sector of the North Sea stocks of oil and the natural gas which operation has begun in 1972 have been found out.

The agriculture of Denmark specializes on animal industries; a considerable part of production of plant growing is used on a forage by an animal. As a whole the agriculture role in Denmark decreases.

Nowadays Denmark has trade relations with almost every country. Leading foreign trade partners of Denmark in 1995 were Germany, Sweden, Great Britain, the Netherlands and Norway. Among them the countries entering into EUROPEAN ECONOMIC COMMUNITY cover 68,8 % of the foreign trade turnover, and  the USA – apprx. 4 % of it.