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Economy of Denmark vs Libya compared: GDP & Debt

Updated on by Georank team

Denmark has a GDP of $425B compared to $48.5B for Libya, ranking 37/197 and 95/197 by economy size, respectively.

Denmark vs Libya GDP by year

Denmark
Libya
1x
Year GDP, current $
Denmark Libya
2024 $424,524,722,037 $48,487,151,215
2023 $404,651,706,118 $44,027,664,915
2022 $400,114,306,337 $43,246,297,922
2021 $406,110,162,088 $35,217,995,647
2020 $355,631,021,932 $46,854,285,441
2019 $345,401,473,013 $69,254,496,472
2018 $355,293,374,912 $76,686,029,772
2017 $331,610,593,962 $67,157,452,182
2016 $312,181,849,372 $49,912,073,701
2015 $301,758,922,338 $48,717,501,321
2014 $352,832,602,064 $57,372,355,592
2013 $344,631,016,965 $75,351,107,029
2012 $326,792,574,245 $92,540,938,129
2011 $344,315,595,263 $48,169,263,294
2010 $322,345,594,075 $75,380,825,062
2009 $322,619,152,195 $60,808,562,033
2008 $354,979,471,960 $86,710,767,415
2007 $320,213,157,595 $68,032,978,391
2006 $283,386,151,544 $60,094,231,607
2005 $265,150,087,712 $47,334,691,241
2004 $251,986,155,631 $33,122,307,692
2003 $218,421,193,436 $26,265,625,000
2002 $178,788,209,558 $20,481,889,764
2001 $164,881,594,415 $34,112,093,927
2000 $164,043,817,224 $38,270,954,138
1999 $177,887,720,536 $35,975,860,857
1998 $176,877,077,513 $27,251,301,398
1997 $173,241,365,735 $30,700,897,875
1996 $187,481,157,846 $27,884,615,385
1995 $184,848,481,008 $25,541,379,187
1994 $156,017,919,221 $28,610,549,763
1993 $143,111,306,004 $30,660,051,911
1992 $152,966,494,260 $33,887,047,909
1991 $139,180,507,778 $31,991,821,265
1990 $138,217,740,684 $28,904,183,602
1989 $112,312,200,761 $25,156,707,899
1988 $115,540,189,705 $24,308,959,591
1987 $109,183,446,340 $26,697,659,335
1986 $87,748,695,217 $24,180,400,959
1985 $62,452,421,011 $31,530,566,324
1984 $58,868,891,335 $29,476,109,153
1983 $60,331,158,447 $33,200,520,140
1982 $60,084,214,872 $33,760,146,991
1981 $61,459,941,461 $36,374,353,880
1980 $70,811,287,816 $40,953,924,949
1979 $70,393,030,603 $30,536,429,497
1978 $60,320,089,218 $22,136,422,643
1977 $49,711,709,588 $22,428,297,108
1976 $44,503,607,444 $19,096,943,017
1975 $40,418,967,666 $14,710,912,458
1974 $34,125,712,481 $15,112,543,717
1973 $30,718,181,337 $8,625,889,430
1972 $23,230,667,549 $6,299,395,544
1971 $19,086,192,720 $5,260,185,125
1970 $17,075,457,733 $4,601,649,451
1969 $15,414,902,667 $4,380,987,481
1968 $13,505,574,133 $3,850,623,095
1967 $13,059,064,806 $2,726,986,913
1966 $11,931,740,293 $2,312,438,536
1965 $10,870,670,865 $1,804,979,680
1964 $9,677,401,337 $1,341,395,421
1963 $8,466,044,980 $892,327,911
1962 $7,953,274,741 $619,725,785
1961 $7,058,361,229 $443,905,612
1960 $6,361,166,545 $401,644,249

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/denmark/libya | CC BY

GDP per capita in Denmark vs Libya by year

Denmark
GDP per capita

GDP per capita, PPP
Libya
GDP per capita

GDP per capita, PPP
1x
Year Current $
Denmark Libya
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $71,026 $81,878 $6,569 $14,304
2023 $68,044 $77,892 $6,027 $13,847
2022 $67,781 $78,914 $5,987 $12,266
2021 $69,341 $69,715 $4,936 $12,642
2020 $60,985 $62,682 $6,650 $10,955
2019 $59,404 $60,595 $9,963 $16,194
2018 $61,325 $57,234 $11,197 $18,879
2017 $57,522 $55,272 $9,966 $18,026
2016 $54,501 $51,821 $7,526 $16,961
2015 $53,094 $48,897 $7,458 $17,903
2014 $62,520 $47,880 $8,926 $17,510
2013 $61,378 $46,869 $11,952 $21,151
2012 $58,444 $44,755 $14,976 $26,826
2011 $61,810 $44,444 $7,594 $15,698
2010 $58,105 $43,038 $11,601 $30,234
2009 $58,413 $40,524 $9,551 $29,027
2008 $64,617 $41,467 $13,906 $30,812
2007 $58,632 $39,110 $11,145 $30,929
2006 $52,119 $37,392 $10,049 $28,936
2005 $48,926 $34,238 $8,079 $26,903
2004 $46,625 $33,016 $5,774 $23,813
2003 $40,519 $30,864 $4,674 $22,663
2002 $33,257 $30,667 $3,718 $20,061
2001 $30,768 $29,459 $6,313 $20,332
2000 $30,722 $28,648 $7,214 $20,617
1999 $33,426 $26,642 $6,895 $19,769
1998 $33,346 $25,799 $5,301 $19,639
1997 $32,780 $24,887 $6,062 $20,439
1996 $35,622 $23,723 $5,591 $19,392
1995 $35,321 $22,677 $5,205 $18,952
1994 $29,968 $21,669 $5,933 $19,318
1993 $27,582 $20,217 $6,478 $18,904
1992 $29,579 $19,830 $7,303 $19,572
1991 $27,003 $19,067 $7,040 $20,085
1990 $26,886 $18,225 $6,502 $17,173
1989 $21,882 - $5,793 -
1988 $22,525 - $5,736 -
1987 $21,296 - $6,465 -
1986 $17,137 - $6,019 -
1985 $12,213 - $8,087 -
1984 $11,517 - $7,811 -
1983 $11,797 - $8,927 -
1982 $11,740 - $9,064 -
1981 $12,000 - $10,044 -
1980 $13,822 - $11,960 -
1979 $13,757 - $9,443 -
1978 $11,818 - $7,252 -
1977 $9,770 - $7,783 -
1976 $8,773 - $7,018 -
1975 $7,988 - $5,721 -
1974 $6,764 - $6,214 -
1973 $6,117 - $3,727 -
1972 $4,654 - $2,830 -
1971 $3,846 - $2,443 -
1970 $3,464 - $2,210 -
1969 $3,151 - $2,175 -
1968 $2,776 - $1,972 -
1967 $2,701 - $1,437 -
1966 $2,487 - $1,251 -
1965 $2,284 - $1,001 -
1964 $2,049 - $765 -
1963 $1,807 - $528 -
1962 $1,711 - $382 -
1961 $1,531 - $285.3 -
1960 $1,389 - $269 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/denmark/libya | CC BY

Denmark's GDP per capita is $71,026, ranking 12/197, compared to $6,569 in Libya, ranking 107/197. Adjusted for purchasing power (GDP per capita PPP), Denmark ranks 14th at $81,878, while Libya ranks 118th at $14,304.

Economic indicators

Denmark Libya
Gross domestic product
$425B
2024
$48.5B
2024
GDP rank
37/197
2024
95/197
2024
GDP growth
3.48%
2023-2024
1.9%
2023-2024
GDP per capita
$71,026
2024
$6,569
2024
GDP per capita rank
12/197
2024
107/197
2024
GDP per capita, PPP
$81,878
2024
$14,304
2024
GDP per capita PPP rank
14/197
2024
118/197
2024
Government debt
$134B
2024
n/a
Debt-to-GDP ratio
31.5%
2024
n/a
Government debt per person
$22,340
2024
n/a
Government debt per person rank
30/185
2024
n/a
Average annual personal income after taxes
$53,468
2026
$3,172
2026
Market capitalization of domestic companies
$151B
2004
n/a
Number of millionaires
376,000
2025
n/a
Number of billionaires
9
2025
n/a
Income share by richest 10%
25.5%
2023
n/a
Income share by poorest 10%
3.6%
2023
n/a
Government expenditure, % of GDP
47.3%
2024
94.8%
2024
Consumer prices inflation
1.37%
2023-2024
2.13%
2023-2024
Central bank interest rate
1.6%
2025
n/a
Unemployment rate
6.15%
2024
30%
2004
Population
6032403
7559873

Government deficit by year

Deficit/surplus
Denmark

Libya
1x
Year Deficit/surplus, % of GDP
Denmark Libya
2024 4.46% -25.1%
2023 3.43% 8.22%
2022 3.39% 23.6%
2021 4.12% 14.8%
2020 0.36% -22.3%
2019 4.28% 11.9%
2018 0.81% 9.39%
2017 1.69% -11.1%
2016 0.3% -29.3%
2015 -0.9% -28.5%
2014 1.43% -30.5%
2013 -0.94% -16.3%
2012 -3.2% 24.6%
2011 -1.77% -11.5%
2010 -2.52% 11.5%
2009 -2.75% -5.46%
2008 3.46% 27.7%
2007 5.31% 28.4%
2006 5.29% 29.1%
2005 5.2% 30.4%
2004 2.23% 11.3%
2003 0.14% 6.17%
2002 0.25% 6.99%
2001 1.13% 0.07%
2000 1.79% 13.6%
1999 1.06% 5.69%
1998 -0.28% -2.36%
1997 -1.22% -2.1%
1996 -2.4% 11.3%
1995 -3.5% 3.8%
1994 -3.85% -2.67%
1993 -3.73% -5.77%
1992 -2.6% 0.11%
1991 -3.15% 8.41%
1990 -1.78% 3.36%
1989 0.3% -
1988 1.46% -
1987 2.46% -
1986 3.23% -
1985 -1.38% -
1984 -3.58% -
1983 -6.29% -
1982 -8.22% -
1981 -5.84% -
1980 -2.32% -
1979 -0.69% -
1978 0.41% -
1977 0.37% -
1976 0.19% -
1975 -1.23% -
1974 3.7% -
1973 4.97% -
1972 5.01% -
1971 4.96% -
1970 0.7% -
1969 0.3% -
1968 -0.06% -
1967 1.49% -
1966 0.99% -
1965 2.13% -
1964 1.79% -
1963 1.2% -
1962 -0.09% -
1961 1.73% -
1960 1.25% -
1959 0.79% -
1958 0.25% -
1957 0.26% -
1956 -0.01% -
1955 -1.17% -
1954 -0.84% -
1953 1.75% -
1952 1.18% -
1951 0.79% -
1950 1.08% -
1949 0.63% -
1948 1.07% -
1947 0.84% -
1946 2.69% -
1945 -1.03% -
1944 0% -
1943 0% -
1942 0% -
1941 0% -
1940 0% -
1939 0% -
1938 0.03% -
1937 0.22% -
1936 -1.36% -
1935 -0.97% -
1934 0.03% -
1933 1.69% -
1932 -3.22% -
1931 -1.67% -
1930 0.03% -
1929 0.13% -
1928 -4.99% -
1927 -2.33% -
1926 -0.48% -
1925 -3.1% -
1924 -0.8% -
1923 -0.56% -
1922 -1.33% -
1921 -2.41% -
1920 -0.46% -
1919 -0.38% -
1918 1.95% -
1917 3.1% -
1916 1.51% -
1915 -0.48% -
1914 0.43% -
1913 0.07% -
1912 0.13% -
1911 -1.02% -
1910 -1.72% -
1909 -2.49% -
1908 -0.82% -
1907 0.26% -
1906 -0.42% -
1905 0.22% -
1904 -0.1% -
1903 0.03% -
1902 -0.06% -
1901 -0.71% -
1900 -0.84% -
1899 -0.59% -
1898 -0.43% -
1897 -0.61% -
1896 -0.07% -
1895 -0.17% -
1894 -0.26% -
1893 -0.42% -
1892 -0.73% -
1891 -0.76% -
1890 -0.97% -
1889 -0.55% -
1888 -0.49% -
1887 -0.68% -
1886 -0.39% -
1885 0.48% -
1884 1.2% -
1883 0.73% -
1882 0.35% -
1881 0.42% -
1880 -2.65% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/denmark/libya | CC BY

In 2024, Denmark's government surplus, the difference between spending and revenue, was $18.9B, equivalent to 4.46% of GDP. This compares to Libya's deficit of $12.1B, or 25.1% of GDP.

Over the past 35 years, Denmark recorded a fiscal deficit in 15 of those years, while Libya ran a deficit in 13 years. On average, Denmark posted an annual surplus equal to 0.44% of GDP, compared to surplus of 2.79% of GDP for Libya.

Inflation comparison by year

Inflation
Denmark

Libya
1x
Year Consumer prices inflation
Denmark Libya
2024 1.37% 2.13%
2023 3.31% 2.37%
2022 7.7% 4.51%
2021 1.85% 2.87%
2020 0.42% 1.45%
2019 0.76% -2.16%
2018 0.81% 13.2%
2017 1.15% 25.8%
2016 0.25% 25.9%
2015 0.45% 10.4%
2014 0.56% 2.43%
2013 0.79% 2.61%
2012 2.4% 6.06%
2011 2.76% 15.5%
2010 2.31% 2.8%
2009 1.3% 2.46%
2008 3.42% 10.4%
2007 1.69% 6.25%
2006 1.92% 1.46%
2005 1.82% 2.65%
2004 1.15% -2.2%
2003 2.08% -2.19%
2002 2.42% -9.8%
2001 2.34% -8.81%
2000 2.9% -2.9%
1999 2.5% 2.65%
1998 1.85% 3.71%
1997 2.18% 3.55%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/denmark/libya | CC BY

Over the past 28 years, Denmark has recorded an average annual inflation rate of 1.95%, compared with 4.39% in Libya. In 2024, inflation was 1.37% in Denmark and 2.13% in Libya.

Top exports between countries

Denmark
Export category Export value
Processed food, beverages & tobacco $10.7M
Animal & marine products $8.92M
Chemicals & pharma $6.94M
Machinery & equipment $6.13M
Raw agricultural goods $1.51M
Textiles & consumer goods $1.38M
Miscellaneous $813K
Raw materials & minerals $301K
Metals $173K
Wood & paper products $155K
Libya
Export category Export value
Raw materials & minerals $739M
Miscellaneous $81K
Machinery & equipment $25K

Balance of trade

Denmark Libya
Current account balance
$52.1B
2024
$1.86B
2023
Current account balance ranking
14/190
2024
46/190
2023
Current account balance, % of GDP
+12.3%
2024
+4.24%
2023
Goods imports
$132B
2024
$23.2B
2023
Goods exports
$172B
2024
$37.1B
2023
Service imports
$125B
2024
$10.1B
2023
Service exports
$129B
2024
$642M
2023
Imports of goods and services, % of GDP
60.8%
2024
56.8%
2024
Exports of goods and services, % of GDP
71%
2024
72%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Denmark Libya
Economic freedom 79 35.9
Economic freedom ranking 8/197 189/197
Property rights 99.9 6.3
Government integrity 98 10.3
Judicial effectiveness 89.3 4.9
Tax burden 43.4 95
Government spending 34.8 0
Fiscal health 98 19.9
Business freedom 90.4 32.4
Labor freedom 65 48.2
Monetary freedom 80.1 75.2
Trade freedom 79.4 80
Investment freedom 90 5
Financial freedom 80 20

Economic freedom comparison by year

Denmark
Libya
1x
Year Economic freedom index
Denmark Libya
2026 79 -
2025 79.1 -
2024 77.8 -
2023 77.6 -
2022 78 -
2021 77.8 -
2020 78.3 -
2019 76.7 -
2018 76.6 -
2017 75.1 -
2016 75.3 -
2015 76.3 -
2014 76.1 -
2013 76.1 -
2012 76.2 35.9
2011 78.6 38.6
2010 77.9 40.2
2009 79.6 43.5
2008 79.2 38.7
2007 77 37
2006 75.4 33.2
2005 75.3 32.8
2004 72.4 31.5
2003 73.2 34.6
2002 71.1 35.4
2001 68.3 34
2000 68.3 34.7
1999 68.1 32.3
1998 67.5 32
1997 67.5 28.9
1996 67.3 31.7

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/denmark/libya | CC BY

The Economic Freedom Index for Denmark is 79, ranking 8/197, compared to 35.9 for Libya, ranking 189/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Denmark Libya
Services, % of GDP
63.5%
2024
28.3%
2024
Industry, % of GDP
24.1%
2024
73.5%
2024
Agriculture, forestry, and fishing, % of GDP
0.93%
2024
2.39%
2024
GNI, Atlas method
$434B
2024
$50.9B
2024
GNI per capita, PPP
$84,680
2024
$15,400
2024
Total reserves including gold
$108B
2024
$92.9B
2024
Total reserves ranking
25/177
2024
29/177
2024
Net foreign direct investment
$11.9B
2024
-$795M
2023
Net inflows of foreign direct investment
$18.5B
2024
$0
2024
Net outflows of foreign direct investment
$30.7B
2024
-$56.5M
2024
Poverty at national poverty lines
12.4%
2021
7.4%
2005
Gross capital formation, % of GDP
23.2%
2024
14.3%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/denmark/libya | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2019–2024, retrieved 2026-02-08)
  7. Central Intelligence Agency (CIA) (2004–2005, retrieved 2026-02-20)
  8. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  9. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.