t of the cross is shifted to the
hoist side, and that design element of the Dannebrog (Danish flag)
was subsequently adopted by the other Nordic countries of Finland,
Iceland, Norway, and Sweden

Economy

Economy--overview: This thoroughly modern market economy features
high-tech agriculture, up-to-date small-scale and corporate
industry, extensive government welfare measures, comfortable living
standards, and high dependence on foreign trade. Denmark is a net
exporter of food. The center-left coalition government will
concentrate on reducing the persistently high unemployment rate and
the budget deficit as well as following the previous government's
policies of maintaining low inflation and a current account surplus.
The coalition also vows to maintain a stable currency. The coalition
has lowered marginal income taxes while maintaining overall tax
revenues; boosted industrial competitiveness through labor market
and tax reforms and increased research and development funds; and
improved welfare services for the neediest while cutting paperwork
and delays. Denmark chose not to join the 11 other EU members who
launched the euro on 1 January 1999. Because of the global slowdown,
GDP growth may fall to 1% in 1999.

GDP: purchasing power parity--$124.4 billion (1998 est.)

GDP--real growth rate: 2.6% (1998 est.)

GDP--per capita: purchasing power parity?$23,300 (1998 est.)

GDP--composition by sector:
agriculture: 4%
industry: 27%
services: 69% (1997)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: 3.6%
highest 10%: 20.5% (1992)

Inflation rate (consumer prices): 1.8% (1998 est.)

Labor force: 2,895,950

Labor force--by occupation: private services 40%, government
services 30%, manufacturing and mining 19%, construction 6%,
agriculture, forestry, and fishing 5% (1995)

Unemployment rate: 6.5% (1998 est.)

Budget:
revenues: $62.1 billion
expenditures: $66.4 billion, including capital expenditures of $NA
(1996 est.)

Industries: food processing, machinery and equipment, textiles
and clothing, chemical products, electronics, construction,
furniture, and other wood products, shipbuilding

Industrial production growth rate: 1.3% (1996)

Electricity--production: 50.608 billion kWh (1996)

Electricity--production by source:
fossil fuel: 97.6%
hydro: 0.05%
nuclear: 0%
other: