Denmark supports a high standard of living—its per capita gross national product is among the highest in the world—with well-developed social services. In the Danish mixed welfare-state economy, private sector expenditures account for more than half of the net national income. Public expenditure is directed primarily toward health and social services, education, economic affairs, foreign affairs, and national defense. But the danish economy has to face a slow economic growth mainly due to the high tax burden and a stagnant export.
Beginner guide to the main economic indicators:
- GDP: is probably the most important economic indicator. It measures the market value of the total production of goods and services in a country in a period of time (usually one year).
- GDP Nominal: Is the GDP at current market price, unadjusted for the effects of inflation.
- GDP PPP: is the GDP converted to US dollars using purchasing power parity rates. Purchasing
power parity (PPP) is used to adjust the exchange rate differences among countries.
- GDP Per Capita: it is obtained by dividing the GDP with the population of the country.
- Public Debt (also Government Debt): is the debt of the state to the private sector of the economy (businesses, families, banks) or the Central Bank- Inflation: is a sustained increase in the general price level of goods and services in an economy over a period of time.
- Unemployment rate: is the number of unemployed people divided by the number of people in the labor force.
- GDP Growth: is the increase in the market value of the goods and services produced by an economy.
- Current Account Balance: includes all transactions with the rest of the world of a country (net trade balance in goods and services, net transfer payments, net foreign investments) in a period of time.
Less Words, more Facts!
This Economy Channel's series focuses on economic analysis and the assessment of economic strength going straight to the point without wasting too much time in unnecessary words.
The EC Economic Strenght Score indicates the economic strength (not the welfare) of a particular country.
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