Changes

*Official exchange rate: 5.70 kroner=U.S. $1 as of late February 2007.  

*Official exchange rate: 5.70 kroner=U.S. $1 as of late February 2007.  

[[File:Vejle Fjord Bridge.jpg|thumb|left|280px|Vejle Fjord Bridge.]]

[[File:Vejle Fjord Bridge.jpg|thumb|left|280px|Vejle Fjord Bridge.]]

Denmark is a net exporter of food and energy. Its principal exports are machinery, instruments, and food products. The United States is Denmark's largest non-European trading partner, accounting for about 6% of total Danish merchandise trade. Aircraft, computers, machinery, and instruments are among the major U.S. exports to Denmark. Among major Danish exports to the United States are industrial machinery, chemical products, furniture, pharmaceuticals, canned ham and pork, [[windmills]], and [[plastic]] [[LEGO|LEGO bricks]]. In addition, Denmark has a significant services trade with the U.S., a major share of it stemming from Danish-controlled ships engaged in container traffic to and from the United States (notably by Maersk-SeaLand). There are some 375 U.S.-owned companies in Denmark.  

Denmark is a net exporter of food and energy. Its principal exports are machinery, instruments, and food products. The United States is Denmark's largest non-European trading partner, accounting for about 6% of total Danish merchandise trade. Aircraft, computers, machinery, and instruments are among the major U.S. exports to Denmark. Among major Danish exports to the United States are industrial machinery, chemical products, furniture, pharmaceuticals, canned ham and pork, [[windmill]]s, and [[plastic]] [[Lego|Lego bricks]]. In addition, Denmark has a significant services trade with the U.S., a major share of it stemming from Danish-controlled ships engaged in container traffic to and from the United States (notably by Maersk-SeaLand). There are some 375 U.S.-owned companies in Denmark.  

The Danish economy is fundamentally strong. Since the mid-1990s, economic growth rates have averaged close to 3%, the formerly high official unemployment rate stands at around 4%, and public finances have been in surplus. Except for one year—1998—Denmark since 1989 has had comfortable balance-of-payments current account surpluses, in 2006 corresponding to 2.45% of GDP. The former Social Democratic-led government coalition lowered marginal income tax rates but at the same time reduced tax deductions, increased environmental taxes, and introduced a series of user fees, thus increasing overall revenues. Under the tax reform plan agreed upon by the government and the Danish People's Party on March 31, 2003, taxpayers received tax relief in 2004, albeit at a lesser rate than the government proposed originally. Denmark has maintained a stable currency policy since the early 1980s, with the krone formerly linked to the Deutschmark and since January 1, 1999, to the euro. Denmark meets, and even exceeds, the economic convergence criteria for participating in the third phase (a common European currency—the euro) of the European Monetary Union (EMU). Although a referendum on EMU participation held on September 28, 2000 resulted in a firm "no" and Denmark, therefore, has not yet adopted the euro, opinion polls show support for EMU membership now exceeds 60%.  

The Danish economy is fundamentally strong. Since the mid-1990s, economic growth rates have averaged close to 3%, the formerly high official unemployment rate stands at around 4%, and public finances have been in surplus. Except for one year—1998—Denmark since 1989 has had comfortable balance-of-payments current account surpluses, in 2006 corresponding to 2.45% of GDP. The former Social Democratic-led government coalition lowered marginal income tax rates but at the same time reduced tax deductions, increased environmental taxes, and introduced a series of user fees, thus increasing overall revenues. Under the tax reform plan agreed upon by the government and the Danish People's Party on March 31, 2003, taxpayers received tax relief in 2004, albeit at a lesser rate than the government proposed originally. Denmark has maintained a stable currency policy since the early 1980s, with the krone formerly linked to the Deutschmark and since January 1, 1999, to the euro. Denmark meets, and even exceeds, the economic convergence criteria for participating in the third phase (a common European currency—the euro) of the European Monetary Union (EMU). Although a referendum on EMU participation held on September 28, 2000 resulted in a firm "no" and Denmark, therefore, has not yet adopted the euro, opinion polls show support for EMU membership now exceeds 60%.