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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Denmark GDP Growth Rate by Year (1961-2023)
Denmark's economic trajectory has mirrored regional and international trends. The early 1960s saw robust growth, reaching 9.3% in 1964, but global headwinds in the 1970s led to back-to-back contractions of -1.1% and -1.5% in 1974-1975. The oil crises significantly impacted Denmark, a trend that reversed as the economy adjusted and rebounded in 1976 with 5.9%.
The early 1980s featured mixed growth, followed by a gradual recovery. In 2009, the global financial crisis severely hit Denmark, contracting GDP by -4.9%. The pandemic in 2020 caused a contraction of -2.4%, but the economy rebounded strongly to 6.8% in 2021, one of the highest rates in recent decades, before stabilizing at 1.9% in 2023 amid cautious global sentiment.
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