OECD ECONOMIC SURVEY OF Reforms to sustain resilience and high living standards Copenhagen 9 January 2024 oe.cd/denmark OECDEconomy OECD
Real GDP Index 2019 first quarter = 100 110
105
100 Denmark
95
Denmark excluding pharmaceuticals
OECD
90
85
2019
2020
2021
2022
2023 2
Headline inflation %
Core inflation %
12
12 Denmark
OECD
Denmark
10
10
8
8
6
6
4
4
2
2
0
2018
2019
2020
2021
2022
2023
0
2018
2019
2020
OECD
2021
2022
2023
3
2022
2023
2024
2025
Real GDP growth, %
2.7
1.3
1.2
1.5
Headline inflation, %
7.7
3.6
2.8
2.5
Core inflation, %
4.0
4.5
3.2
2.5
5
Gross public debt, Maastricht criterion % of GDP, 2022 180 160 140 120 100
80 60 40 20 0
EST LUX DNK SWE LTU LVA CZE IRL POL NLD SVK DEU SVN FIN HUN AUT EU BEL FRA ESP PRT ITA GRC
6
Change in ageing costs from 2025 % of GDP 4 Public pensions
Health and long-term care
Education
3 2 1 0 -1 -2 -3
2030
2035
2040
2045
2050
2055
2060
7
Current and future effective retirement age of men Years 74
Current effective retirement age
Retirement age for a person who entered the labour force at age 22 in 2020
72 70 68 66 64 62
DNK
ITA
EST
NLD
PRT
FIN
USA
NOR
ISR
ISL
GBR
DEU
BEL
AUS
OECD
IRL
GRC
FRA
TUR
POL
LTU
HUN
ESP
CZE
CHL
CAN
AUT
SVK
SVN
58
LUX
60
8
Decentralisation of long-term care expenditure Share of local and state governments in public long-term care expenditure, 2019 100 90 80 70 60 50 40 30 20
DNK
ITA
CHE
SWE
ESP
AUS
FIN
NOR
CZE
EST
LVA
BEL
SVN
NLD
ISR
GBR
SVK
FRA
ISL
LUX
HUN
GRC
CRI
0
IRL
10
10
Labour shortages % of Danish firms reporting shortages of labour as the main factor limiting their business 60 Services
Construction
Manufacturing
50 40
30 20 10 0
2015
2016
2017
2018
2019
2020
2021
2022
2023
11
Usual weekly working hours, dependent full-time employment 2022 42 Women
41
Men
40 39 38
37 36 35 34 33
Denmark
Nordics
EU
OECD
12
0
COL CHL CRI MEX EST KOR CHE JPN POL CZE USA ESP IRL SWE SVK NZL OECD ISR GBR FRA TUR GRC LVA HUN PRT NOR SVN CAN AUS ISL DNK ITA LUX LTU AUT DEU FIN NLD BEL
Net marginal tax rates on personal income % of gross wage earnings, 2021
60
50
40
30
20
10
13
Employment growth and contribution of migrants 6
Contribution of first and second-generation immigrants (% points)
5
Employment growth (year-over-year % changes)
4
3 2 1 0 -1 -2 -3 -4 -5
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
14
Share of foreign-born workers %, 2021 80
Long-term care workers
70
All workers
60
50 40 30 20
ISR
LUX
CHE
SWE
CAN
AUT
NZL
AUS
ITA
NOR
ESP
OECD23
GBR
USA
DEU
IRL
ISL
BEL
FRA
NLD
FIN
DNK
SVN
0
CZE
10
15
Average age of first graduation of those under 30-years-old Years, 2021 Upper secondary general education 23
22
22
21
21
20
20
19
19
18
18
17
17
16
16
JPN ISR GBR KOR AUT SWE BEL ITA NLD ESP OECD CZE CHE FIN NZL NOR DEU DNK
23
NLD JPN GBR ISR USA IRL NZL ESP AUT SWE KOR OECD BEL NOR DNK DEU ITA FIN CHE CZE
Upper secondary vocational education
16
0
CAN IRL NZL AUS ISL KOR DNK JPN LTU ESP GRC EST CHL COL DEU SWE CRI GBR OECD FRA PRT MEX LVA ISR TUR FIN NOR HUN ITA BEL NLD LUX POL CHE SVN SVK AUT CZE
Share of upper secondary students enrolled in vocational programmes % of 15-19-year-olds, 2021
80
70
60
50
40
30
20
10
17
18
Trade balance % of GDP 14 Sea transport services
12
Other services
Goods
10 8 6 4 2 0 -2 -4
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
19
0-5-year-old firms % of employment, 2018-20 25
20
15
10
5
0
CHE DEU NOR AUT DNK FIN LUX SWE BEL NLD CZE SVN ITA FRA ISL EST ESP HUN POL GRC LTU LVA PRT SVK
20
Share of enterprises using at least one Artificial Intelligence technology %, 2021 30 25 20 15 10 5 0
GRC TUR EST POL HUN LVA CZE LTU SVK ITA FRA ESP EU IRL AUT SWE BEL DEU NOR SVN LUX NLD FIN PRT DNK 21
Greenhouse gas emissions Carbon dioxide (CO2) equivalent, Million tons 100
Targets Climate Status and Outlook 2023
80
New government's targets
60 40 20 0 -20 1990
1995
2000
2005
2010
2015
2020
2025
2030
2035
2040
2045
2050
22
OECDEconomy OECD
oe.cd/denmark
23