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Macro - Country Economic Forecasts - Denmark

Publisher Oxford Economics
Published Sep 17, 2025
Length 8 Pages
SKU # OFE20418399

Description

We have raised our 2025 GDP growth forecast for Denmark by 0.7ppts to 1.4%. Strong pharmaceutical production boosted growth to 1.3% q/q in Q2, but we expect growth to flatten over the next few quarters as US tariffs on pharmaceutical imports bite, following the implementation of the 15% tariff on innovative pharmaceuticals at the start of September. We have nudged down our 2026 GDP growth forecast by 0.2ppts to 0.6%.

Table of Contents

8 Pages
Denmark: Strong Q2 GDP, but tariffs will start to bite soon
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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