Denmark

Denmark is a social welfare state, with a thoroughly modern, services-based economy. Denmark is highly dependent on foreign trade and is a strong supporter of liberal trade policy. Denmark’s strategic location at the entrance to the Baltic Sea have made Copenhagen a center for U.S. agencies and the private sector dealing with the Nordic/Baltic region. The United States is Denmark’s largest non-European trade partner. In 2018, U.S. Denmark total two-way goods trade totaled just under $11.5 billion; services trade in 2017 totaled $8.6 billion. Aircraft, computers, machinery, and instruments are among the major U.S. goods exports to Denmark, while Denmark exports industrial machinery, chemical products, furniture, pharmaceuticals, canned ham and pork, windmills, and Legos. Denmark is a world leader in “green energy” industries, and in sectors such as IT, health and life sciences, and shipping. Danish investment in the United States is growing, exemplified by Novo Nordisk’s USD 1.85 billion investment in a North Carolina pharmaceutical facility and the Vestas wind turbine company, which as of 2016 employed more staff in the United States than in Denmark. According to the Danish government, investments in the United States support some 75,000 U.S. jobs.