Denmark

E

Currency and Banking

The monetary unit is the Danish krone, or crown, of 100 øre (5.11 kroner equalled US$1; early 2008). The National Bank of Denmark (Danmarks Nationalbank; 1818) is the bank of issue and is the centre of Danish finance, with head offices in Copenhagen. Several large commercial banks have branches throughout Denmark; although the country has more than 90 savings banks, the number of banks has declined because of a succession of mergers in the early 1990s. In a referendum held in September 2000 the Danish people voted against participation in the Euro.

F

Commerce and Trade

In the mid-1960s West Germany replaced the United Kingdom as Denmark’s leading trading partner, a position which the reunified Germany holds today. Sweden and the United Kingdom remain among the largest importers of Danish products.

Until the early 1960s livestock, processed meat (chiefly ham), and dairy products constituted the bulk of exports. Since then industrial exports have grown steadily and now exceed agricultural exports which, in 1994, were valued at more than US$39,600 million, with imports at about US$34,000 million. Major Danish imports are machinery, primary metals and metal products, transport equipment, fuels and lubricants, and various consumer goods.

G

Labour

Almost half the Danish population is employed; the service and manufacturing sectors are the main employers with about 40 per cent and 20 per cent of the labour force respectively. Unemployment was 5.2 per cent in 2004. At least three quarters of women work, making up 46 per cent of the workforce. In the 1960s and 1970s the country suffered severe labour shortages, which were partly offset by the immigration of guest workers, mainly from Turkey, former Yugoslavia, and Pakistan. Most skilled workers, technicians, and handicraft workers are union members. The Danish Confederation of Trade Unions had about 1.34 million members in 2007.

H

Transport

Ferries and bridges are characteristic features of the Danish transport system. Ferries link Jutland and the islands and also serve Germany, Sweden, the United Kingdom, and Norway. Two bridges connect Jutland and Fyn, and another runs between Sjælland and Falster. In July 2000, Queen Margrethe and King Carl XVI Gustaf of Sweden officially opened the Øresund Strait Bridge, a new bridge and tunnel link between Denmark and Sweden. The 16 km (10 mi) bridge connects Copenhagen to the Swedish port of Malmö and consists of a four-lane motorway and two rail tracks.

Denmark has 2,212 km (1,374 mi) of railways, more than 80 per cent of which is operated by the Danish State Railways. The main rail route leads south through Jutland to Hamburg, Germany. There is also an extensive road system, totalling about 71,847 km (44,644 mi) of paved roads. In 2002 there were 360 passenger cars per 1,000 people. The major air carrier operating in Denmark is SAS (Scandinavian Airlines System). Other airlines include DAT (Danish Air Transport), Sterling Airlines, and Cimber Air. The international airport is at Kastrup, near Copenhagen.

I

Communications

Denmark has a proud tradition of independence, objectivity, and freedom of speech. The country does not have a sizeable tabloid press, and the tone and content of broadcasting is of high quality. The most popular daily newspapers are Berlingske Tidende (circulation 156,000), B.T. (123,000), Dagbladet Børsen (52,000), Ekstra Bladet (168,000), and Politiken (143,000), all published in Copenhagen, and Morgenavisen Jyllands Posten (180,000) published in Viby. Radio and television programmes are produced by the state-owned Radio Denmark; commercials are barred, and set owners pay annual licence fees. A commercial television network began broadcasting in 1988. More than 4.3 million television receivers and 7 million radios were licensed in 2000. The government telephone service owns and operates long-distance lines, but most local services in Denmark are operated by private companies. In 2005 there were about 619 telephones in use per 1,000 people.