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Business Profile
Economy: The standard of living is generally high, with annual GDP per capita well over US$30,000. Compared to most industrialised countries, Denmark retains a large and important agricultural sector, two-thirds of whose produce is exported. Danish manufacturing depends on imports of raw materials and components. Iron, steel and the production of other metals are the most important industries, followed by electronics, chemicals and biotechnology, paper and printing, textiles, furniture and cement. Food-processing and drinks also make a significant contribution. Since the discovery of offshore oil and gas reserves in the 1980s, production has gradually increased to the point where the country can meet all its domestic energy needs. Most of Denmark’s trade is conducted within the EU, of which it is a member although it has proved reluctant (in rather the same manner as the UK) to adopt measures which are perceived as threatening its sovereignty. It has thus refused so far to join the single European currency zone. Recent economic performance has been steady: inflation (two per cent) and unemployment (five per cent) are near the EU average, although current annual growth is sluggish at under one per cent. Germany is substantially the largest trading partner followed by Sweden and the UK; outside the EU, Norway and the USA are important trading partners. Denmark is a member of the Nordic Union: its links with Scandinavia will be further enhanced by the new road and rail system linking it to Sweden across the Øresund Strait.
Business: English is widely used for all aspects of business. Local business people expect visitors to be punctual and the approach to business is often direct and straightforward. Avoid business visits from mid-June to mid-August which are prime holiday periods. Office hours: Mon-Fri 0800/0900-1600/1700.
Commercial Information: The following organisations can offer advice: Handelskskammeret (Danish Chamber of Commerce), Børsen, DK-1217 Copenhagen K (tel: 3395 0500; fax: 3332 5216; e-mail: handelskammeret@commerce.dk; website: www.commerce.dk).
Conferences/Conventions: For information and brochures regarding conference facilities, contact Wonderful Copenhagen Convention & Visitors Bureau or the Danish Tourist Board (see Contact Addresses section).
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