Key figures for the national accounts (GDP)
What is the Danish Gross Domestic Product (GDP) and what has the real growth been in recent years? Key figures for the national accounts show the main results for the Danish economy such as GDP, economic growth, balance of demand and supply, imports and exports, etc.
Explainer on…
Gross domestic product, GDP, indicates the size of a country's economy. GDP can be calculated in three ways:
- Gross domestic product (GDP) in market prices is calculated from the production side by subtracting from production at market prices the total value of intermediate consumption at buyer prices.
- It can also be calculated from the income side as compensation of employees plus the surplus of production and mixed income plus taxes on production, net.
- Finally it can be calculated from the application side as the sum of all final uses in buyer prices minus the import of goods and services.
Capital formation includes both gross fixed capital formation and changes in inventories.
Gross fixed capital formation are expenditure for durable goods that are used in production processes for more than one year. E.g. it can be expenditure as regards to acquisition of machinery and equipment and for the construction of buildings as well as research and development.
Changes in inventories are the value of changes in the industries' inventories, e.g. increases in stocks of raw materials and manufactured goods in the manufacturing industry and stocks within wholesale and retail trade.
Household expenditure on goods and services for final consumption as well as final consumption expenditure of NPISH (non-profit institutions serving households, e.g. sports associations, trade unions and private schools).
Government consumption expenditure is divided into individual and collective consumption expenditures.
The government expenditure on individual consumption is expenditure on services that are consumed by individuals, e.g. a wide range of services within education and health sectors.
Collective consumption expenditure is expenditure on services that are consumed collectively, e.g. defense and the judiciary.
Time series assessed on a monthly or quarterly basis are often affected by phenomena that appear at the same time every year. The time series are said to be subject to seasonal effects. When making a seasonal adjustment, you try to remove seasonal effects from the time series.
Selected statistics on Key figures for the national accounts (GDP)
Quarterly real growth in GDP
Data sources include:
Administrative data, accounting statements, tax data, statistical surveys of businesses and households, trade statistics on goods and services, balance of payments information and energy accounts.
For an overview of sources on industry level see Branchefordelt kildeoversigt (In Danish).
Annual GDP and imports by purpose
Data sources include:
Administrative data, accounting statements, tax data, statistical surveys of businesses and households, trade statistics on goods and services, balance of payments information and energy accounts.
For an overview of sources on industry level see Branchefordelt kildeoversigt (In Danish).
Revisions in the compilation of GDP
Data sources include:
Administrative data, accounting statements, tax data, statistical surveys of businesses and households, trade statistics on goods and services, balance of payments information and energy accounts.
For an overview of sources on industry level see Branchefordelt kildeoversigt (In Danish).
On the statistics – documentation, sources and method
See the documentation of statistics to learn more:
The national accounts are a description of a country's economy and its development. It consists of a description of the economy as whole and the economic transactions between individuals, companies and institutions. The national accounts also include transactions between Denmark and abroad. The first Danish national accounts date back to the 1930's. Consistent time series of annual national accounts goes back to 1966, while quarterly national accounts are available as of first quarter 1990.
The statistics National Accounts by sectors, are part of the national accounts system and consist of coherent definitions and classifications that show how the income of the sectors is created, distributed and redistributed. They provide both a description of the economy in general and of the transactions between persons, enterprises and institutions. The national accounts also include transactions between Denmark and the rest of the world. This set of statistics was first published in 1982. Coherent annual time series are available back to 1995, while quarterly figures are available from the first quarter of 1999 onwards.
The quarterly national accounts provide a comprehensive and up-to-date description of the economy and its development. The main focus is on short-term economic fluctuations, making it particularly useful for business cycle analysis, assessing economic conditions, and as a basis for economic models and forecasts. The statistics describe the economy as a whole, including transactions between households, businesses, and institutions, as well as transactions between Denmark and abroad. It has been compiled since 1988 and is fully comparable from first quarter 1990.