The amazingly beautiful immigration destination of Denmark much motivates the sharp migrants, from across the globe, for a plethora of compelling reasons with the nation’s flourishing economy being one of the key reasons. In fact, the nation’s robust economy decisively makes the Scandinavian nation a leading global immigration hotspot in the world even as it is widely preferred by the discerning migrants looking forward to experience the finest luxuries and facilities that the developed west has to offer.
The Danish economy is essentially a mixed economy and entirely based on human resources, as there is shortage of mineral resources, except oil and gas deposits. The country’s citizens enjoy minimum income equality. The country holds the 32th position in the world’s economy. It has an unemployment rate as low as 7.4% even as the nation stands at highest credit rating.
The national economy of Denmark is mainly based on the industrial manufactured goods; 73.3%, out of which 21.40% contribution is of machinery and instruments, agricultural products 18.7%, and chemical and fuels 26%. One of the positive signs of the more than perfect Danish economy is that it enjoys surplus in payments. Many countries own more money to Denmark as compared to what it owns to them. It clearly shows that its advantage Denmark.
The nation’s economy is very sound thus making it flourish even more. A key factor which decisively affects the national economy of Denmark is the state budget which is of balanced type. Its stable currency is also quite responsible for its sound economy. Last but not the least, low inflation and interest rates add on to its growth.
Moreover, the government supports liberal trade policy. Besides Sweden, Great Britain, and Norway, Germany is its most important trade partner. Remarkably, the unmatched trust generated by the companies of Denmark allows them to trade freely around the globe. Thus making it grab a membership of several top world bodies which permit them to trade freely across the globe easily.
For instance, Denmark is a part of the top world organization, the European Union (EU). It allows the Scandinavian nation to freely trade, minus any restrictions whatsoever, with a staggering 350 million people of the flourishing EU market, and 200 million people in the east. A person interested in making profitable investments in the country enjoys relaxation in tax and the cost of labor. He obtains several helpful tax benefits and is greeted with positive rules regarding depreciation. The labor cost is determined after calculating both the wages and the non wages. Their high productivity level makes them stand at the Number 1 position as far as workforce is concerned.
In addition to the personnel, the agriculture sector in the Scandinavian country is able to produce enough food for the people; approximately thrice the country’s total population. Thus, earning valuable foreign currency for the country, and resulting in its economic growth and employment opportunities.
The other major factor responsible for the sound Denmark economy is its large production of goods for domestic and export purposes. Chemical industry, including petrol and plastic, is the one of the most successful industries of the country. Not only the telecommunication and agricultural machines manufactured in the immigration hotspot are high in demand across the world, there is a also a great demand for the quality Danish furniture, toys, newspaper, and other necessary items, like, for example, clothing.
Coming back to its natural reserves, after Britain and Norway, Denmark is the third largest producer of oil. Both oil and gas production stands responsible for the payment surplus. The production in both things is more than its consumption. So, it is duly exported and distributed through the pipelines. Sweden and Germany are the major importers of gas whereas spot market acquires oil surplus.
Transport and communication system is another important propeller of the thriving Danish economy. It employs around 7% of its workers and is 9% of the total production. With the growth of computers and data transmission, the Danish economy has shown a great deal of technological growths lately.
