Denmark: an Overview
Denmark is a small country consists of 43,098 square kilometres, excluding the Faroe Islands and Greenland. Denmark is located in Northern Europe and it is part of Scandinavia. The country has approximately 5.8 million inhabitants, of which 2.6 million live in the capital Copenhagen.
Denmark is a member of the EC but has chosen not to take part in the monetary union and the military cooperation.
The Danish monarchy can be traced back more than 1,000 years. The Queen of Denmark, Margrethe II, is therefore able to count kings like Gorm the Old (deceased 958) and Harald Bluetooth (deceased 987) among her ancestors.
The democratic Constitution of 5 June 1849 changed the monarchy’s status from absolute to constitutional.
Government and Politics
The political system of Denmark is a multi-party structure, where several parties are represented in the Parliament. Danish governments are most often minority administrations, governing with the aid of one or more supporting parties. This means that Danish politics are characterised by inter-party compromising. Since 1909 no single party has had the majority of parliamentary seats.
The Danish economy is among the best performing in Europe. Its main strengths include competitive capital and commodity markets and a very flexible labour market, which combined with a comprehensive welfare state ensures positive attitude towards business innovation and globalisation. In addition, the public sector is very efficient.
Facts in Brief (2007)
- Low inflation: 2.9%
- High GDP per capita: 60,961 US$
Denmark has developed into one of the strongest clusters in life sciences in Europe. It is a dense cluster of universities, hospitals and companies within biotech, medicotech and pharma, many of which are R&D based.
The joint Danish-Swedish collaboration, Medicon Valley, is home to more than 60% of Scan¬dinavia’s pharmaceutical industry and Europe’s fastest growing biotech cluster measured by products in development.