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Macro - Country Economic Forecasts - Denmark

Publisher Oxford Economics
Published Apr 17, 2025
Length 8 Pages
SKU # OFE20029154

Description

We've slashed our 2025 GDP growth forecast for Denmark by 1.4ppts to 1.8%. We assume that the US government will impose a 25% tariff on its imports of pharmaceuticals in late Q2, which will significantly affect Denmark's growth outlook due to the importance of pharmaceutical production for the economy. Weaker global demand after US President Donald Trump stepped up the global trade war will also adversely impact Denmark's highly open economy, with exceptional business uncertainty weighing on investment planning.

Table of Contents

8 Pages
Denmark: Tariffs on pharmaceuticals will damage growth this year
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy and politics

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