The Greek Cypriot economy is small, diversified, and prosperous. Industry
contributes 24% to GDP and employs 35% of the labor force, while the service
sector contributes 44% to GDP and employs 45% of the labor force. Rapid
growth in exports of agricultural and manufactured products and in tourism
have played important roles in the average 6.4% rise in GDP between 1985 and
1990. In mid-1991, the World Bank "graduated" Cyprus off its list of
developing countries. In contrast to the bright picture in the south, the
Turkish Cypriot economy has less than half the per capita GDP and suffered a
series of reverses in 1991. Crippled by the effects of the Gulf war, the
collapse of the fruit-to-electronics conglomerate, Polly Peck, Ltd., and a
drought, the Turkish area in late 1991 asked for a multibillion-dollar grant
from Turkey to help ease the burden of the economic crisis. Turkey normally
underwrites a substantial portion of the TRNC economy.
GDP:
purchasing power equivalent - Greek area: $5.5 billion, per capita $9,600;
real growth rate 6.0%; Turkish area: $600 million, per capita $4,000; real
growth rate 5.9% (1990)
Inflation rate (consumer prices):
Greek area: 4.5%; Turkish area: 69.4% (1990)
Unemployment rate:
Greek area: 1.8%; Turkish area: 1.2% (1990)
Budget:
revenues $1.2 billion; expenditures $2.0 billion, including capital
expenditures of $250 million (1991)
Exports:
$847 million (f.o.b., 1990)
commodities:
citrus, potatoes, grapes, wine, cement, clothing and shoes
partners:
UK 23%, Greece 10%, Lebanon 10%, Germany 5%
Imports:
$2.3 billion (f.o.b., 1990)
commodities:
consumer goods, petroleum and lubricants, food and feed grains, machinery
partners:
UK 13%, Japan 12%, Italy 10%, Germany 9.1%
External debt:
$2.8 billion (1990)
Industrial production:
growth rate 5.6% (1990); accounts for 24% of GDP
Electricity:
620,000 kW capacity; 1,770 million kWh produced, 2,530 kWh per capita (1991)
Industries:
food, beverages, textiles, chemicals, metal products, tourism, wood products
Agriculture:
accounts for 7% of GDP and employs 14% of labor force in the south; major
crops - potatoes, vegetables, barley, grapes, olives, and citrus fruits;
vegetables and fruit provide 25% of export revenues
Economic aid:
US commitments, including Ex-Im (FY70-89), $292 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $250 million; OPEC
bilateral aid (1979-89), $62 million; Communist countries (1970-89), $24
million
Currency:
Cypriot pound (plural - pounds) and in Turkish area, Turkish lira (plural -
liras); 1 Cypriot pound (#C) = 100 cents and 1 Turkish lira (TL) = 100 kurus
:Cyprus Economy
Exchange rates:
Cypriot pounds (#C) per US$1 - 0.4683 (March 1992), 0.4615 (1991), 0.4572
(1990), 0.4933 (1989), 0.4663 (1988), 0.4807 (1987); in Turkish area,
Turkish liras (TL) per US$1 - 6,098.4 (March 1992), 4,173.9 (1991), 2,608.6
(1990), 2,121.7 (1989), 1,422.3 (1988), 857.2 (1987)
Fiscal year:
calendar year
:Cyprus Communications
Highways:
10,780 km total; 5,170 km paved; 5,610 km gravel, crushed stone, and earth
Ports:
Famagusta, Kyrenia, Larnaca, Limassol, Paphos
Merchant marine:
1,228 ships (1,000 GRT or over) totaling 20,053,213 GRT/35,647,964 DWT;
includes 8 short-sea passenger, 2 passenger-cargo, 440 cargo, 83
refrigerated cargo, 22 roll-on/roll-off, 52 container, 5 multifunction large
load carrier, 107 petroleum tanker, 3 specialized tanker, 3 liquefied gas,
20 chemical tanker, 32 combination ore/oil, 394 bulk, 3 vehicle carrier, 49
combination bulk, 2 railcar carrier, 2 passenger, 1 passenger cargo; note -
a flag of convenience registry; Cuba owns at least 30 of these ships,
republics of the former USSR own 58, Latvia also has 5 ships, Yugoslavia
owns 1, and Romania 3
Civil air:
11 major transport aircraft (Greek Cypriots); 2 (Turkish Cypriots)
Airports:
14 total, 14 usable; 12 with permanent-surface runways; none with runways
over 3,659 m; 7 with runways 2,440-3,659 m; 3 with runways 1,220-2,439 m
Telecommunications:
excellent in both the area controlled by the Cypriot Government (Greek
area), and in the Turkish-Cypriot administered area; 210,000 telephones;
largely open-wire and radio relay; broadcast stations - 11 AM, 8 FM, 1 (34
repeaters) TV in Greek sector and 2 AM, 6 FM and 1 TV in Turkish sector;
international service by tropospheric scatter, 3 submarine cables, and
satellite earth stations - 1 Atlantic Ocean INTELSAT, 1 Indian Ocean
INTELSAT and EUTELSAT earth stations
:Cyprus Defense Forces
Branches:
Greek area - Greek Cypriot National Guard (GCNG; including air and naval
elements), Greek Cypriot Police; Turkish area - Turkish Cypriot Security
Force
Manpower availability:
males 15-49, 183,899; 126,664 fit for military service; 5,030 reach military
age (18) annually
Defense expenditures:
exchange rate conversion - $209 million, 5% of GDP (1990 est.)
:Czechoslovakia Geography
Total area:
127,870 km2
Land area:
125,460 km2
Comparative area:
slightly larger than New York State
Land boundaries:
3,438 km; Austria 548 km, Germany 815 km, Hungary 676 km, Poland 1,309 km,
Ukraine 90 km
Coastline:
none - landlocked
Maritime claims:
none - landlocked
Disputes:
Gabcikovo Nagymaros Dam dispute with Hungary
Climate:
temperate; cool summers; cold, cloudy, humid winters
Terrain:
mixture of hills and mountains separated by plains and basins
Natural resources:
hard coal, timber, lignite, uranium, magnesite, iron ore, copper, zinc
Land use:
arable land 37%; permanent crops 1%; meadows and pastures 13%; forest and
woodland 36%; other 13%; includes irrigated 1%
Environment:
infrequent earthquakes; acid rain; water pollution; air pollution
Note:
landlocked; strategically located astride some of oldest and most
significant land routes in Europe; Moravian Gate is a traditional military
corridor between the North European Plain and the Danube in central Europe
:Czechoslovakia People
Population:
15,725,680 (July 1992), growth rate 0.2% (1992)
Birth rate:
13 births/1,000 population (1992)
Death rate:
11 deaths/1,000 population (1992)
Net migration rate:
NEGL migrants/1,000 population (1992)
Infant mortality rate:
11 deaths/1,000 live births (1992)
Life expectancy at birth:
68 years male, 76 years female (1992)
Total fertility rate:
1.9 children born/woman (1992)
Nationality:
noun - Czechoslovak(s); adjective - Czechoslovak
Ethnic divisions:
Czech 62.9%, Slovak 31.8%, Hungarian 3.8%, Polish 0.5%, German 0.3%,
Ukrainian 0.3%, Russian 0.1%, other 0.3%
Religions:
Roman Catholic 50%, Protestant 20%, Orthodox 2%, other 28%
Languages:
Czech and Slovak (official), Hungarian
Literacy:
99% (male NA%, female NA%) age 15 and over can read and write (1970 est.)
Labor force:
8,200,000 (1987); industry 36.9%, agriculture 12.3%, construction,
communications, and other 50.8% (1982)
Organized labor:
Czech and Slovak Confederation of Trade Unions (CSKOS); several new
independent trade unions established
:Czechoslovakia Government
Long-form name:
Czech and Slovak Federal Republic
Type:
federal republic in transition
Capital:
Prague
Administrative divisions:
2 republics (republiky, singular - republika); Czech Republic (Ceska
Republika), Slovak Republic (Slovenska Republika); note - 11 regions (kraj,
singular); Severocesky, Zapadocesky, Jihocesky, Vychodocesky, Praha,
Severomoravsky, Jihomoravsky, Bratislava, Zapadoslovensky, Stredoslovensky,
Vychodoslovensky
Independence:
28 October 1918 (from Austro-Hungarian Empire)
Constitution:
11 July 1960; amended in 1968 and 1970; new Czech, Slovak, and federal
constitutions to be drafted in 1992
Legal system:
civil law system based on Austro-Hungarian codes, modified by Communist
legal theory; constitutional court currently being established; has not
accepted compulsory ICJ jurisdiction; legal code in process of modification
to bring it in line with Conference on Security and Cooperation in Europe
(CSCE) obligations and to expunge Marxist-Leninist legal theory
National holiday:
National Liberation Day, 9 May (1945) and Founding of the Republic, 28
October (1918)
Executive branch:
president, prime minister, Cabinet
Legislative branch:
bicameral Federal Assembly (Federalni Shromazdeni) consists of an upper
house or Chamber of Nations (Snemovna Narodu) and a lower house or Chamber
of the People (Snemovna Lidu)
Judicial branch:
Supreme Court
Leaders:
Chief of State:
President Vaclav HAVEL; (interim president from 29 December 1989 and
president since 5 July 1990)
Head of Government:
Prime Minister Marian CALFA (since 10 December 1989); Deputy Prime Minister
Vaclav KLAUS (since 3 October 1991); Deputy Prime Minister Jiri DIENSTBIER
(since 28 June 1990); Deputy Prime Minister Jozef MIKLOSKO (since 28 June
1990); Deputy Prime Minister Pavel RYCHETSKY (since 28 June 1990); Deputy
Prime Minister Pavel HOFFMAN (since 3 October 1991); note - generally,
"prime minister" is used at the federal level, "premier" at the republic
level; Czech Premier - Petr PITHART; Slovak Premier - Jan CARNOGVRSKY
:Czechoslovakia Government
Political parties and leaders:
note - there are very few federation-wide parties; party affiliation is
indicted as Czech (C) or Slovak (S); Civic Democratic Party, Vaclav KLAUS,
chairman, (C/S); Civic Movement, Jiri DIENSTBIER, chairman, (C); Civic
Democratic Alliance, Jan KALVODA, chairman; Christian Democratic Union
Public Against Violence, Martin PORUBJAK, chairman, (S); Christian
Democratic Party, Vaclav BENDA, (C); Christian Democratic Movement, Jan
CARNOGURSKY,(S); Communist Party of Bohemia and Moravia, Juri SVOBODA,
chairman; Movement for a Democratic Slovakia, Vladimir MECIAR, chairman -
removed from power in November 1989 by massive antiregime demonstrations;
Czechoslovak Social Democracy, Jiri HORAK, chairman, (C); Czechoslovak
Socialist Party, Ladislav DVORAK, chairman, (C)(S); Movement for
Self-Governing Democracy Society for Moravia and Silesia, Jan KRYCER,
chairman, (C); Party of the Democratic Left, Peter WEISS, chairman
(Slovakia's renamed Communists) (S); Slovak National Party, Jozef PROKES,
chairman, (S); Democratic Party, Jan HOLCIK, chairman, (S); Coexistence,
(C)(S)
Suffrage:
universal at age 18
Elections:
Federal Assembly:
last held 8-9 June 1990 (next to be held 5-6 June 1992); results - Civic
Forum/Public Against Violence coalition 46%, KSC 13.6%; seats - (300 total)
Civic Forum/Public Against Violence coalition 170, KSC 47, Christian and
Democratic Union/Christian Democratic Movement 40, Czech, Slovak, Moravian,
and Hungarian groups 43
President:
last held 5 July 1990 (next to be held 3 July 1992); results - Vaclav HAVEL
elected by the Federal Assembly
Communists:
760,000 party members (September 1990); about 1,000,000 members lost since
November 1989
Other political or pressure groups:
Czechoslovak Socialist Party, Czechoslovak People's Party, Czechoslovak
Social Democracy, Slovak Nationalist Party, Slovak Revival Party, Christian
Democratic Party; over 80 registered political groups fielded candidates in
the 8-9 June 1990 legislative election
Member of:
BIS, CCC, CE, CSCE, EC (associate) ECE, FAO, GATT, HG, IAEA, IBRD, ICAO,
IFCTU, ILO, IMF, IMO, INMARSAT, IOC, ISO, ITU, LORCS, NACC, NSG, PCA, UN,
UNAVEM, UNCTAD, UNESCO, UNIDO, UPU, WHO, WIPO, WMO, ZC
Diplomatic representation:
Ambassador Rita KLIMOVA; Chancery at 3900 Linnean Avenue NW, Washington, DC
20008; telephone (202) 363-6315 or 6316
US:
Ambassador Shirley Temple BLACK; Embassy at Trziste 15, 125 48, Prague 1
(mailing address is Unit 25402; APO AE 09213-5630); telephone [42] (2)
536-641/6; FAX [42] (2) 532-457
Flag:
two equal horizontal bands of white (top) and red with a blue isosceles
triangle based on the hoist side
:Czechoslovakia Economy
Overview:
Czechoslovakia is highly industrialized by East European standards and has a
well-educated and skilled labor force. GDP per capita has been the highest
in Eastern Europe. Annual GDP growth slowed to less than 1 percent during
the 1985-90 period. The country is deficient in energy and in many raw
materials. Moreover, its aging capital plant lags well behind West European
standards. In January 1991, Prague launched a sweeping program to convert
its almost entirely state-owned and controlled economy to a market system.
The koruna now enjoys almost full internal convertibility and over 90% of
prices are set by the market. The government is planning to privatize all
small businesses and roughly two-thirds of large enterprises by the end of
1993. New private-sector activity is also expanding. Agriculture - 95%
socialized - is to be privatized by the end of 1992. Reform has taken its
toll on the economy: inflation was roughly 50% in 1991, unemployment was
nearly 70%, and GDP dropped an estimated 15%. In 1992 the government is
anticipating inflation of 10-15%, unemployment of 11-12%, and a drop in GDP
of up to 8%. As of mid-1992, the nation appears to be splitting in two -
into the industrial Czech area and the more agarian Slovak area.
GDP:
purchasing power equivalent - $108.9 billion, per capita $6,900; real growth
rate -15% (1991 est.)
Inflation rate (consumer prices):
52% (1991 est.)
Unemployment rate:
officially 6.7% (1991 est.)
Budget:
revenues $4.5 billion; expenditures $4.5 billion, including capital
expenditures of $200 million (1992)
Exports:
$12.0 billion (f.o.b., 1990)
commodities:
machinery and equipment 39.2%; fuels, minerals, and metals 8.1%;
agricultural and forestry products 6.2%, other 46.5%
partners:
USSR, Germany, Poland, Austria, Hungary, Yugoslavia, Italy, France, US, UK
Imports:
$13.3 billion (f.o.b., 1990)
commodities:
machinery and equipment 37.3%; fuels, minerals, and metals 22.6%;
agricultural and forestry products 7.0%; other 33.1%
partners:
USSR, Germany, Austria, Poland, Switzerland, Hungary, Yugoslavia, UK, Italy
External debt:
$9.1 billion, hard currency indebtedness (December 1991)
Industrial production:
growth rate -22% (1991 est.); accounts for almost 60% of GNP
Electricity:
23,000,000 kW capacity; 90,000 million kWh produced, 5,740 kWh per capita
(1990)
Industries:
iron and steel, machinery and equipment, cement, sheet glass, motor
vehicles, armaments, chemicals, ceramics, wood, paper products, footwear
Agriculture:
accounts for 9% of GDP (includes forestry); largely self-sufficient in food
production; diversified crop and livestock production, including grains,
potatoes, sugar beets, hops, fruit, hogs, cattle, and poultry; exporter of
forest products
:Czechoslovakia Economy
Illicit drugs:
transshipment point for Southwest Asian heroin and emerging as a
transshipment point for Latin American cocaine E
Economic aid:
donor - $4.2 billion in bilateral aid to non-Communist less developed
countries (1954-89)
Currency:
koruna (plural - koruny); 1 koruna (Kc) = 100 haleru
Exchange rates:
koruny (Kcs) per US$1 - 28.36 (January 1992), 29.53 (1991), 17.95 (1990),
15.05 (1989), 14.36 (1988), 13.69 (1987)
Fiscal year:
calendar year
:Czechoslovakia Communications
Railroads:
13,103 km total; 12,855 km 1.435-meter standard gauge, 102 km 1.520-meter
broad gauge, 146 km 0.750- and 0.760-meter narrow gauge; 2,861 km double
track; 3,798 km electrified; government owned (1988)
Highways:
73,540 km total; including 517 km superhighway (1988)
Inland waterways:
475 km (1988); the Elbe (Labe) is the principal river
Pipelines:
crude oil 1,448 km; petroleum products 1,500 km; natural gas 8,100 km
Ports:
maritime outlets are in Poland (Gdynia, Gdansk, Szczecin), Croatia (Rijeka),
Slovenia (Koper), Germany (Hamburg, Rostock); principal river ports are
Prague on the Vltava, Decin on the Elbe (Labe), Komarno on the Danube,
Bratislava on the Danube
Merchant marine:
22 ships (1,000 GRT or over) totaling 290,185 GRT/437,291 DWT; includes 13
cargo, 9 bulk
Civil air:
47 major transport aircraft
Airports:
158 total, 158 usable; 40 with permanent-surface runways; 19 with runways
2,440-3,659 m; 37 with runways 1,220-2,439 m
Telecommunications:
inadequate circuit capacity; 4 million telephones; Radrel backbone of
network; 25% of households have a telephone; broadcast stations - 32 AM, 15
FM, 41 TV (11 Soviet TV repeaters); 4.4 million TVs (1990); 1 satellite
earth station using INTELSAT and Intersputnik
:Czechoslovakia Defense Forces
Branches:
Army, Air and Air Defense Forces, Civil Defense, Border Guard
Manpower availability:
males 15-49, 4,110,628; 3,142,457 fit for military service; 142,239 reach
military age (18) annually
Defense expenditures:
exchange rate conversion - 28 billion koruny, NA% of GNP (1991); note -
conversion of defense expenditures into US dollars using the current
exchange rate would produce misleading results
:Denmark Geography
Total area:
43,070 km2
Land area:
42,370 km2; includes the island of Bornholm in the Baltic Sea and the rest
of metropolitan Denmark, but excludes the Faroe Islands and Greenland
Comparative area:
slightly more than twice the size of Massachusetts
Land boundaries:
68 km; Germany 68 km
Coastline:
3,379 km
Maritime claims:
Contiguous zone:
4 nm
Continental shelf:
200 m (depth) or to depth of exploitation
Exclusive fishing zone:
200 nm
Territorial sea:
3 nm
Disputes:
Rockall continental shelf dispute involving Iceland, Ireland, and the UK
(Ireland and the UK have signed a boundary agreement in the Rockall area);
Denmark has challenged Norway's maritime claims between Greenland and Jan
Mayen
Climate:
temperate; humid and overcast; mild, windy winters and cool summers
Terrain:
low and flat to gently rolling plains
Natural resources:
crude oil, natural gas, fish, salt, limestone
Land use:
arable land 61%; permanent crops NEGL%; meadows and pastures 6%; forest and
woodland 12%; other 21%; includes irrigated 9%
Environment:
air and water pollution
Note:
controls Danish Straits linking Baltic and North Seas
:Denmark People
Population:
5,163,955 (July 1992), growth rate 0.2% (1992)
Birth rate:
13 births/1,000 population (1992)
Death rate:
12 deaths/1,000 population (1992)
Net migration rate:
1 migrant/1,000 population (1992)
Infant mortality rate:
7 deaths/1,000 live births (1992)
Life expectancy at birth:
72 years male, 78 years female (1992)
Total fertility rate:
1.7 children born/woman (1992)
Nationality:
noun - Dane(s); adjective - Danish
Ethnic divisions:
Scandinavian, Eskimo, Faroese, German
Religions:
Evangelical Lutheran 91%, other Protestant and Roman Catholic 2%, other 7%
(1988)
Languages:
Danish, Faroese, Greenlandic (an Eskimo dialect); small German-speaking
minority
Literacy:
99% (male NA%, female NA%) age 15 and over can read and write (1980 est.)
Labor force:
2,581,400; private services 36.4%; government services 30.2%; manufacturing
and mining 20%; construction 6.8%; agriculture, forestry, and fishing 5.9%;
electricity/gas/water 0.7% (1990)
Organized labor:
65% of labor force
:Denmark Government
Long-form name:
Kingdom of Denmark
Type:
constitutional monarchy
Capital:
Copenhagen
Administrative divisions:
metropolitan Denmark - 14 counties (amter, singular - amt) and 1 city*
(stad); Arhus, Bornholm, Frederiksborg, Fyn, Kbenhavn, Nordjylland, Ribe,
Ringkbing, Roskilde, Snderjylland, Staden Kbenhavn*, Storstrm, Vejle,
Vestsjaelland, Viborg; note - see separate entries for the Faroe Islands and
Greenland, which are part of the Danish realm and self-governing
administrative divisions
Independence:
became a constitutional monarchy in 1849
Constitution:
5 June 1953
Legal system:
civil law system; judicial review of legislative acts; accepts compulsory
ICJ jurisdiction, with reservations
National holiday:
Birthday of the Queen, 16 April (1940)
Executive branch:
monarch, heir apparent, prime minister, Cabinet
Legislative branch:
unicameral parliament (Folketing)
Judicial branch:
Supreme Court
Leaders:
Chief of State:
Queen MARGRETHE II (since January 1972); Heir Apparent Crown Prince
FREDERIK, elder son of the Queen (born 26 May 1968)
Head of Government:
Prime Minister Poul SCHLUTER (since 10 September 1982)
Political parties and leaders:
Social Democratic Party, Paul Nyrup RASMUSSEN; Conservative Party, Poul
SCHLUTER; Liberal Party, Uffe ELLEMANN-JENSEN; Socialist People's Party,
Holger K. NIELSEN; Progress Party, Pia KJAERSGAARD; Center Democratic Party,
Mimi Stilling JAKOBSEN; Radical Liberal Party, Marianne JELVED; Christian
People's Party, Jam SJURSEN; Left Socialist Party, Elizabeth BRUN-OLESEN;
Justice Party, Poul Gerhard KRISTIANSEN; Socialist Workers Party, leader NA;
Communist Workers' Party (KAP), leader NA; Common Course, Preben Meller
HANSEN; Green Party, Inger BORLEHMANN
Suffrage:
universal at age 21
Elections:
Parliament:
last held 12 December 1990 (next to be held by December 1994); results -
Social Democratic Party 37.4%, Conservative Party 16.0%, Liberal 15.8%,
Socialist People's Party 8.3%, Progress Party 6.4%, Center Democratic Party
5.1%, Radical Liberal Party 3.5%, Christian People's Party 2.3%, other 5.2%;
seats - (179 total; includes 2 from Greenland and 2 from the Faroe Islands)
Social Democratic 69, Conservative 30, Liberal 29, Socialist People's 15,
Progress Party 12, Center Democratic 9, Radical Liberal 7, Christian
People's 4
:Denmark Government
Member of:
AfDB, AG (observer), AsDB, Australia Group, BIS, CCC, CE, CERN, COCOM, CSCE,
EBRD, EC, ECE, EIB, ESA, FAO, G-9, GATT, IADB, IAEA, IBRD, ICAO, ICC, ICFTU,
IDA, IEA, IFAD, IFC, ILO, IMF, IMO, INMARSAT, INTELSAT, INTERPOL, IOC, IOM,
ISO, ITU, LORCS, MTCR, NACC, NATO, NC, NEA, NIB, NSG, OECD, PCA, UN, UNCTAD,
UNESCO, UNFICYP, UNHCR, UNIDO, UNIIMOG, UNMOGIP, UNTSO, UPU, WHO, WIPO, WM,
ZC
Diplomatic representation:
Ambassador Peter Pedersen DYVIG; Chancery at 3200 Whitehaven Street NW,
Washington, DC 20008; telephone (202) 234-4300; there are Danish Consulates
General in Chicago, Los Angeles, and New York
US:
Ambassador Richard B. STONE; Embassy at Dag Hammarskjolds Alle 24, 2100
Copenhagen O (mailing address is APO AE 09716); telephone [45] (31)
42-31-44; FAX [45] (35) 43-0223
Flag:
red with a white cross that extends to the edges of the flag; the vertical
part of the cross is shifted to the hoist side, and that design element of
the (Danish flag) was subsequently adopted by the other Nordic countries of
Finland, Iceland, Norway, and Sweden
:Denmark Economy
Overview:
This modern economy features high-tech agriculture, up-to-date small-scale
and corporate industry, extensive government welfare measures, comfortable
living standards, and high dependence on foreign trade. Denmark probably
will continue its successful economic recovery in 1992 with tight fiscal and
monetary policies and export- oriented growth. Prime Minister Schluter's
main priorities are to maintain a current account surplus in order to pay
off extensive external debt and to continue to freeze public-sector
expenditures in order to reduce the budget deficit. The rate of growth by
1993 - boosted by increased investment and domestic demand - may be
sufficient to start to cut Denmark's high unemployment rate, which is
expected to remain at about 11% in 1992. Low inflation, low wage increases,
and the current account surplus put Denmark in a good competitive position
for the EC's anticipated single market, although Denmark must cut its VAT
and income taxes.
GDP:
purchasing power equivalent - $91.1 billion, per capita $17,700; real growth
rate 2.0% (1991)
Inflation rate (consumer prices):
2.4% (1991)
Unemployment rate:
10.6% (1991)
Budget:
revenues $44.1 billion; expenditures $50 billion, including capital
expenditures of $NA billion (1991 est.)
Exports:
$37.8 billion (f.o.b., 1991)
commodities:
meat and meat products, dairy products, transport equipment (shipbuilding),
fish, chemicals, industrial machinery
partners:
EC 54.2% (Germany 22.5%, UK 10.3%, France 5.9%), Sweden 11.5%, Norway 5.8%,
US 5.0%, Japan 3.6% (1991)
Imports:
$31.6 billion (c.i.f., 1991)
commodities:
petroleum, machinery and equipment, chemicals, grain and foodstuffs,
textiles, paper
partners:
EC 52.8% (Germany 22.5%, UK 8.1%), Sweden 10.8%, US 6.3% (1991)
External debt:
$45 billion (1991)
Industrial production:
growth rate 0% (1991 est.)
Electricity:
11,215,000 kW capacity; 31,000 million kWh produced, 6,030 kWh per capita
(1991)
Industries:
food processing, machinery and equipment, textiles and clothing, chemical
products, electronics, construction, furniture, and other wood products
Agriculture:
accounts for 4.5% of GDP and employs 6% of labor force (includes fishing and
forestry); farm products account for nearly 15% of export revenues;
principal products - meat, dairy, grain, potatoes, rape, sugar beets, fish;
self-sufficient in food production
Economic aid:
donor - ODA and OOF commitments (1970-89) $5.9 billion
Currency:
Danish krone (plural - kroner); 1 Danish krone (DKr) = 100 re
:Denmark Economy
Exchange rates:
Danish kroner (DKr) per US$1 - 6.116 (January 1992), 6.396 (1991), 6.189
(1990), 7.310 (1989), 6.732 (1988), 6.840 (1987)
Fiscal year:
calendar year
:Denmark Communications