Private sector debt will remain one of the main obstacles to the post Covid-19 recovery

AA1

LOW RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD355.18bn (World ranking 34, World Bank 2020)
Population 5.8mn (World ranking 113, World Bank 2020)
Form of state Constitutional Monarchy
Head of state Mette Frederiksen (PM)
Next elections 2023, legislative
  • Strong banking sector
  • Strong business environment (flexible employment protection legislation, excellent infrastructure)
  • Diversified export sector, mainly in non-cyclical sectors
  • Healthy public finances
  • High institutional effectiveness
  • Highly skilled workforce
  • Excessive household debt
  • Elevated house valuations
  • Small and open economy
  • High exposure to the UK and Brexit
  • Loss of competitiveness, namely due to high tax burden
  • High amount of regulatory requirements

Trade structure by destination/origin

(% of total, annual 2020)

Exports Rank Imports
Germany 14.3%
1
21.9% Germany
United States 10.2%
2
12.6% Sweden
Sweden 10.2%
3
8.5% Netherlands
Netherlands 6.0%
4
7.8% China
China 5.8%
5
4.5% Poland

Trade structure by product

(% of total, annual 2020)

Exports Rank Imports
Medicinal and pharmaceutical products 11.5%
1
7.9% Road vehicles
Other industrial machinery and parts 7.7%
2
5.7% Medicinal and pharmaceutical products
Meat and meat preparations 5.4%
3
5.7% Other industrial machinery and parts
Power generating machinery and equipment 4.3%
4
5.7% Electrical machinery, apparatus and appliances, n.e.s.
Miscellaneous manufactured articles, n.e.s. 4.0%
5
5.2% Articles of apparel & clothing accessories
Payments take 7 to 30 days on average, but delays of approximately 12 days may be expected. The EU legal framework provides reliable tools when it comes to late payment matters.​

  • Low

  • Medium

  • Sensitive

  • High

  • Payments

  • Court proceedings

  • Insolvency proceedings

  • Payments

  • Court proceedings

  • Insolvency proceedings

Courts are reliable and the system provides fast-track proceedings for undisputed claims below DKK 100,000. Delays and costs otherwise remain significant when a claim is disputed, and EU standard proceedings are not fully applicable in the country.

Although domestic insolvency law aims at rescuing companies to increase the chance of recovering debts, it provides no limitations as to how much of the debt may be written off in restructuration negotiations and it is rare for unsecured creditors to recover from insolvent debtors in practice.

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