24

Tables

Interest rates and share-price index 1

Selected items from Danmarks Nationalbank's balance sheet 2

Factors affecting the banks' and the mortgage-credit

institutes' net position with Danmarks Nationalbank 3

Selected items from the consolidated balance sheet of the MFI sector 4

Money stock 5

Selected items from the balance sheet of the banks 6

Selected items from the balance sheet of
the mortgage-credit institutes 7

Lending to residents by the banks and the mortgage-credit institutes 8

The mortgage-credit institutes' lending broken down by type 9

The banks' effective interest rates 10

Selected items from the balance sheet of the investment associations 11

Securities issued by residents by owner's home country 12

Households' financial assets and liabilities 13

Companies' financial assets and liabilities 14

Current account of the balance of payments 15

Financial account of the balance of payments 16

Portfolio investments of the balance of payments 17

Denmark's external assets and liabilities 18

GDP by type of expenditure 19

EU-harmonized index of consumer prices (HICP) and
underlying inflation (IMI) 20

Selected monthly economic indicators 21

Selected quarterly economic indicators 22

Exchange rates 23

Effective krone rate 24

Danmarks Nationalbank's Statistical Publications

Symbols and Sources

0 Magnitude nil or less than one half of unit employed.

… Data not available or of negligible interest.

Some of the most recent statistics may be provisional. Due to rounding-off there may be small differences between the sum of the individual figures and the totals stated.

The Tables section of this publication is closed on 13 January 2009 and thus based on more recent information than the equivalent section of the Danish edition.

Danmarks Nationalbank is the source for Tables 1-14, 16-18 and 23-24, while the OMX Nordic Exchange is the source for series of bond yields and the share-price index in Table 1. Statistics Denmark is the source for Tables 15 and 19-22. The calculations in Tables 20 and 24 have been made by Danmarks Nationalbank on the basis of data from Statistics Denmark and OECD.

10-year central- government bond Per cent per annum
Interest rates and share-price index Table 1
Effective
end-of-year/
from
Danmarks
Nationalbank's
interest rates
The ECB's
interest rate
End of period Inter-bank interest rate,
3-months uncollateralized
Bond yields Share-price index
OMXC20
(prev.KFX)
Discount rate Lending
and certificates of deposit
Main refinancing operations, fixed
rate1
  30-year mortgage-credit bond  
Per cent per annum   3.7.89
=100

2004 2.002.152.00

2005 2.25 2.40 2.25

2006
3.50 3.75 3.50

2007
4.00 4.25 4.00

2008
3.50 4.25 2.50

2008 24 Oct
4.50 5.50 3.75

7 Nov
4.00 5.00 3.25

5 Dec
3.50 4.25 2.50

19 Dec
3.50 3.75 2.50
 

   

2009 13 Jan
3.50 3.75 2.50

2004 2.16 3.87 5.07 286.66
2005 2.46 3.30 4.39 393.52
2006 3.81 3.95 5.24 441.48
2007 4.65 4.48 5.61 464.14
2008 4.20 3.31 6.21 247.72

Jun 08 5.08 4.81 6.08 424.30
Jul 08 5.15 4.70 6.49 417.43
Aug 08 5.10 4.38 6.38 424.11
Sep 08 5.15 4.29 6.66 351.15
Oct 08 5.30 4.35 6.64 285.19
Nov 08 5.60 3.84 6.44 263.05
Dec 08 4.20 3.31 6.21 247.72

1 Until 7 October 2008 minimum bid rate.

Selected items from Danmarks nationalbank's balance sheet Table 2
End of period The foreign-exchange reserve (net) Notes and coin in circulation The central government's account with Danmarks Nationalbank The banks' and the mortgage-credit institutes' net position with
Danmarks Nationalbank
Certificates of deposit Deposits (current account) Loans Total net position
Kr. billion

2003 224.2 49.7 44.0 157.3 12.9 48.0 122.2
2004 217.6 52.0 60.8 160.4 6.9 72.6 94.6
2005 212.3 56.2 56.4 207.6 12.8 135.3 85.1
2006 171.7 59.8 73.8 163.2 8.8 153.7 18.2
2007 168.8 61.6 89.9 200.5 9.4 216.8 -6.9

Jul 08 164.0 60.7 73.3 196.2 22.1 212.6 5.6
Aug 08 164.8 59.7 64.0 251.5 5.3 240.1 16.7
Sep 08 160.1 59.2 70.2 242.0 37.6 263.3 16.3
Oct 08 132.4 59.2 121.8 157.1 7.3 217.5 -53.1
Nov 08 172.8 59.2 234.5 134.7 13.1 275.2 -127.4
Dec 08 212.7 61.3 259.6 118.5 9.7 240.9 -112.7

Change
in net position
Factors affecting the banks' and the mortgage-credit
INSTITUTEs' NET position with Danmarks nATIONALBANK Table 3
  Central-government finance Net purchase of
foreign exchange by
Danmarks Nationalbank
Net
purchase
of bonds by Danmarks Nationalbank
Other factors The banks' and the mortgage-credit institutes' net position with
Danmarks
Nationalbank
Do-mestic gross financing require-ment Sales of do-mestic central-government securities,
etc.
Liquidity effect Interventions to purchase foreign exchange, net Other Total   End of period
Kr. billion
2004 75.5 92.6 -17.1 -12.5 6.1 -6.4 -2.6 -1.2 -27.3 94.6
2005 39.5 30.9 8.6 -18.4 3.0 -15.4 -2.2 -0.5 -9.5 85.1
2006 -14.5 16.2 -30.6 -34.3 4.3 -30.0 -4.9 -1.2 -66.7 18.2
2007 -26.1 2.9 -29.1 -1.7 7.2 5.5 -0.4 -1.4 -25.3 -6.9
2008 -11.9 99.6 -111.5 -19.9 0.1 -19.8 0.6 24.9 -105.8 ...

Jul 08 24.2 1.7 22.5 0.0 -1.3 -1.3 0.1 3.3 24.7 5.6
Aug 08 11.3 2.1 9.2 0.0 0.9 0.9 0.2 0.7 11.1 16.7
Sep 08 -7.2 2.5 -9.6 -0.7 -0.4 -1.1 0.1 10.2 -0.4 16.3
Oct 08 8.0 14.7 -6.7 -63.9 -9.5 -73.4 1.2 9.4 -69.4 -53.1
Nov 08 -52.1 57.5 -109.6 31.6 5.8 37.4 0.1 -2.2 -74.3 -127.4
Dec 08 12.1 20.7 -8.6 24.7 -1.3 23.4 -0.5 0.4 14.8 -112.7

SELECTED ITEMS FROM THE ConsolidATED
Balance SHEET OF THE MFI SECTOR Table 4
End of period Total balance Assets Liabilities Foreign assets,
net 1
Domestic lending Domestic
securities
Domestic deposits Bonds,
etc.
issued
Public sector Private sector Bonds, etc. Shares, etc.
Kr. billion
2003 3,359.0 89.6 2,062.0 123.3 43.3 754.7 1,157.9 -70.7
2004 3,684.5 97.5 2,246.2 100.8 46.3 848.9 1,222.1 -65.7
2005 4,228.2 107.8 2,584.2 75.9 53.5 971.3 1,318.2 -172.9
2006 4,682.1 116.8 2,956.0 51.8 60.3 1,077.0 1,433.7 -222.8
2007 5,497.4 119.9 3,353.7 43.3 63.5 1,219.7 1,505.2 -304.5

Jun 08 5,854.5 125.4 3,532.0 39.9 77.5 1,274.9 1,501.6 -409.6
Jul 08 5,792.5 128.1 3,520.1 42.2 78.6 1,279.4 1,517.2 -434.2
Aug 08 5,834.4 123.5 3,540.7 27.6 78.8 1,255.8 1,534.1 -472.2
Sep 08 5,878.3 127.5 3,584.4 33.6 58.6 1,238.1 1,517.3 -494.9
Oct 08 6,247.6 130.1 3,629.6 41.1 56.6 1,353.4 1,471.1 -491.8
Nov 08 6,416.3 130.1 3,685.1 46.5 56.6 1,468.5 1,446.4 -435.6

  Change compared with previous year, per cent
2003 ... 12.1 6.0 -13.7 18.6 4.3 2.8 ...
2004 ... 8.8 8.9 -18.2 7.0 12.5 5.5 ...
2005 ... 10.6 15.0 -24.7 15.4 14.4 7.9 ...
2006 ... 8.3 14.4 -31.8 12.8 10.9 8.8 ...
2007 ... 2.7 13.5 -16.4 5.2 13.3 5.0 ...

Jun 08 ... 6.1 12.4 -7.7 21.7 11.8 3.4 ...
Jul 08 ... 9.4 12.0 -5.9 26.0 10.9 3.0 ...
Aug 08 ... 6.6 11.6 -50.8 26.3 6.4 4.4 ...
Sep 08 ... 10.7 11.3 -36.4 -7.5 5.0 2.5 ...
Oct 08 ... 10.4 12.2 -24.2 -12.8 13.0 -1.0 ...
Nov 08 ... 10.6 12.3 17.9 -10.6 18.8 -2.2 ...
Note: The MFI sector includes Danish monetary financial institutions, i.e. banks and mortgage-credit institutes, other credit institutions, money-market funds and Danmarks Nationalbank.
1 The net foreign assets of the MFI sector has been compiled as the difference between all assets and liabilities vis-a-vis non-residents.

MONEY STOCK Table 5
End of period Bank notes and
coin in circulation1
Deposits on demand M1 Time deposits with original maturity =<2 years Deposits at notice with original maturity =< 3 months M2 Repurchase agreements Bonds, etc. issued with original maturity =< 2 years M3
Kr. billion

2003 41.0 428.1 469.1 112.2 19.2 600.5 2.7 77.3 680.5
2004 43.7 492.8 536.5 119.2 21.0 676.7 2.0 20.2 699.0
2005 47.3 596.3 643.5 114.1 18.4 776.0 14.2 8.4 798.7
2006 50.7 648.6 699.3 143.0 17.9 860.2 8.0 21.3 889.5
2007 51.9 703.2 755.1 199.7 18.0 972.8 6.2 61.5 1,040.6

Jun 08 51.4 719.7 771.1 210.2 20.0 1,001.3 18.0 98.2 1,117.7
Jul 08 50.8 726.6 777.4 234.4 19.9 1,031.7 17.0 100.3 1,149.2
Aug 08 50.6 721.4 772.1 225.6 19.8 1,017.5 15.6 98.7 1,131.9
Sep 08 50.1 695.7 745.8 228.7 17.9 992.3 18.5 102.9 1,113.8
Oct 08 50.2 708.5 758.7 288.9 18.4 1,066.0 6.5 95.3 1,167.9
Nov 08 50.3 711.5 761.8 283.2 18.7 1,063.7 7.9 86.7 1,158.4

  Change compared with previous year, per cent
2003 ... ... 8.8 ... ... 8.8 ... ... 11.3
2004 ... ... 14.4 ... ... 12.7 ... ... 2.7
2005 ... ... 19.9 ... ... 14.7 ... ... 14.3
2006 ... ... 8.7 ... ... 10.8 ... ... 11.4
2007 ... ... 8.0 ... ... 13.1 ... ... 17.0

Jun 08 ... ... 3.1 ... ... 7.4 ... ... 15.6
Jul 08 ... ... 1.5 ... ... 6.4 ... ... 14.3
Aug 08 ... ... 3.1 ... ... 5.3 ... ... 12.5
Sep 08 ... ... 0.4 ... ... 4.0 ... ... 12.4
Oct 08 ... ... 1.7 ... ... 9.7 ... ... 16.0
Nov 08 ... ... 1.8 ... ... 9.0 ... ... 14.8
1 Notes and coin in circulation, excluding the banks' holdings.

SELECTED ITEMS FROM THE Balance SHEET OF THE banks Table 6
End of period Total balance Assets Liabilities
Lending to MFIs Domestic lending Holdings of
securities
Loans from
MFIs
Deposits
Total of which:
House-holds,
etc.
Non-financial companies
Kr. billion
2003 2,204.4 468.7 662.9 271.5 285.7 764.4 823.8 795.1
2004 2,418.4 495.6 754.8 324.8 309.6 780.3 823.1 908.0
2005 2,867.3 652.0 920.1 396.6 370.0 862.1 975.7 1,065.6
2006 3,242.0 715.0 1,124.3 475.0 458.0 889.6 1,133.8 1,148.3
2007 3,993.4 926.6 1,333.6 557.4 551.8 1,065.8 1,444.1 1,345.6

Jun 08 4,349.5 987.5 1,423.5 577.9 587.8 1,137.9 1,524.3 1,424.4
Jul 08 4,277.5 969.0 1,398.3 574.8 566.3 1,169.9 1,508.8 1,428.9
Aug 08 4,339.5 936.4 1,403.1 573.6 575.0 1,240.1 1,560.3 1,389.1
Sep 08 4,429.9 979.8 1,438.7 592.1 582.6 1,207.0 1,623.9 1,377.0
Oct 08 4,750.5 1,041.0 1,472.7 588.0 590.3 1,166.3 1,590.3 1,444.3
Nov 08 4,874.8 1,088.2 1,510.1 583.4 606.0 1,201.0 1,686.0 1,445.5

  Change compared with previous year, per cent
2003 ... 10.7 2.5 7.1 3.1 21.8 18.8 3.9
2004 ... 5.6 13.8 19.6 8.4 2.1 -0.1 14.2
2005 ... 31.7 21.9 22.1 19.5 10.5 18.5 17.3
2006 ... 9.7 22.2 19.8 23.8 3.2 16.2 7.8
2007 ... 29.6 18.6 17.4 20.5 19.8 27.4 17.2

Jun 08 ... 19.7 16.5 13.8 14.9 20.7 28.4 12.7
Jul 08 ... 17.8 16.1 12.9 14.1 24.5 34.9 9.4
Aug 08 ... 18.8 15.4 11.8 13.1 21.2 29.2 7.0
Sep 08 ... 12.6 15.2 12.3 12.6 19.4 26.6 5.6
Oct 08 ... 17.5 17.8 11.5 15.0 13.7 22.7 9.4
Nov 08 ... 20.5 17.9 9.3 13.8 17.0 26.1 8.7
Note: Excluding Danish banks' units abroad.

SELECTED ITEMS FROM THE Balance SHEET OF
THE mortgage-credit institutes Table 7
End of period Total balance Assets Liabilities
Lending to MFIs Domestic lending Holdings of
securities
Loans from
MFIs
Bonds,
etc.
issued
Total of which:
House-holds,
etc.
Non-financial companies
Kr. billion
2003 1,863.8 100.9 1,394.6 1,072.1 284.4 342.6 32.6 1,729.0
2004 2,097.4 91.2 1,489.9 1,141.3 307.9 481.2 26.1 1,952.5
2005 2,519.9 101.4 1,664.4 1,281.5 334.2 645.0 151.7 2,237.0
2006 2,699.9 245.1 1,834.8 1,407.7 370.8 574.1 226.5 2,297.9
2007 3,088.2 362.8 2,015.5 1,532.5 420.8 649.2 344.2 2,495.2

Jun 08 2,681.8 352.0 2,102.4 1,579.0 450.2 170.0 291.7 2,090.4
Jul 08 2,692.1 336.0 2,116.0 1,588.1 454.3 175.9 312.1 2,118.5
Aug 08 2,714.0 344.8 2,126.2 1,593.8 457.8 170.2 314.2 2,150.0
Sep 08 2,748.0 372.9 2,136.8 1,598.7 460.3 176.0 320.4 2,138.0
Oct 08 2,809.0 383.8 2,147.2 1,603.9 464.1 207.4 355.5 2,150.9
Nov 08 2,874.8 360.1 2,158.9 1,610.9 480.5 275.6 367.0 2,242.1

  Change compared with previous year, per cent
2003 ... 30.6 8.5 8.5 9.7 1.2 -44.8 9.1
2004 ... -9.6 6.8 6.5 8.3 40.4 -19.9 12.9
2005 ... 11.1 11.7 12.3 8.5 34.0 481.5 14.6
2006 ... 141.7 10.2 9.9 10.9 -11.0 49.3 2.7
2007 ... 48.0 9.9 8.9 13.5 13.1 52.0 8.6

Jun 08 ... 41.4 9.5 7.4 14.7 4.3 39.2 8.1
Jul 08 ... 41.7 9.2 7.2 14.3 9.9 45.7 8.9
Aug 08 ... 31.6 8.8 6.7 14.1 11.9 35.5 9.1
Sep 08 ... 29.3 8.6 6.6 13.0 12.3 31.2 7.7
Oct 08 ... 38.8 8.3 6.3 12.0 20.9 42.4 6.6
Nov 08 ... 25.9 8.0 6.0 14.9 54.9 42.1 9.6
 

lending to residents by the Banks and the mortgage-credit institutes Table 8
End of period Total lending The banks' lending The mortgage-credit
institutes' lending
Total House-holds, etc. Business Total House-holds, etc. Business Total House-holds, etc. Business
Kr. billion
2003 2,087.7 1,343.6 683.1 693.2 271.5 392.3 1,394.6 1,072.1 290.9
2004 2,276.0 1,466.1 741.0 786.0 324.8 426.8 1,489.9 1,141.3 314.2
2005 2,614.5 1,678.0 852.2 950.2 396.6 510.4 1,664.4 1,281.5 341.7
2006 3,000.8 1,882.7 1,015.2 1,166.0 475.0 636.9 1,834.8 1,407.7 378.3
2007 3,387.8 2,090.0 1,189.7 1,372.3 557.4 760.5 2,015.5 1,532.5 429.1

Jun 08 3,571.8 2,156.9 1,296.0 1,469.4 577.9 835.0 2,102.4 1,579.0 461.0
Jul 08 3,558.1 2,162.9 1,273.3 1,442.1 574.8 808.5 2,116.0 1,588.1 464.8
Aug 08 3,573.0 2,167.4 1,286.3 1,446.8 573.6 818.0 2,126.2 1,593.8 468.3
Sep 08 3,619.2 2,190.8 1,303.5 1,482.4 592.1 832.6 2,136.8 1,598.7 470.9
Oct 08 3,663.7 2,191.9 1,343.6 1,516.5 588.0 868.2 2,147.2 1,603.9 475.4
Nov 08 3,712.8 2,194.3 1,406.9 1,553.8 583.4 915.0 2,158.9 1,610.9 491.9

  Change compared with previous year, per cent
2003 6.1 8.2 2.7 1.5 7.1 -1.7 8.5 8.5 9.3
2004 9.0 9.1 8.5 13.4 19.6 8.8 6.8 6.5 8.0
2005 14.9 14.5 15.0 20.9 22.1 19.6 11.7 12.3 8.8
2006 14.8 12.2 19.1 22.7 19.8 24.8 10.2 9.9 10.7
2007 12.9 11.0 17.2 17.7 17.4 19.4 9.9 8.9 13.4

Jun 08 12.4 9.1 18.3 16.9 13.8 20.1 9.5 7.4 15.2
Jul 08 12.0 8.6 17.5 16.3 12.9 19.3 9.2 7.2 14.5
Aug 08 11.4 8.0 17.3 15.5 11.8 19.2 8.8 6.7 14.2
Sep 08 11.3 8.0 16.3 15.4 12.3 18.0 8.6 6.6 13.3
Oct 08 12.0 7.6 18.9 17.7 11.5 22.8 8.3 6.3 12.4
Nov 08 11.9 6.9 21.5 17.8 9.3 25.0 8.0 6.0 15.3

Note: Including lending in Danish banks' units abroad.

The mortgage-credit institutes' lending broken down by type Table 9
End of period Index-linked lending Fixed-
rate lending
Adjustable-rate lending Total of which:
Total of which
=<1 year
Lending in foreign currency Instalment-free lending 1
Kr. billion

2003 99.5 795.0 499.0 250.0 1,393.5 85.7 44.4
2004 94.6 733.9 659.8 382.2 1,488.4 84.9 170.5
2005 88.6 720.3 853.9 616.0 1,662.8 80.5 315.5
2006 83.5 797.5 951.7 720.5 1,832.7 85.7 432.2
2007 77.9 889.2 1,045.6 796.6 2,012.7 123.8 547.0

Jun 08 75.5 890.1 1,137.2 887.7 2,102.8 142.5 593.7
Jul 08 75.1 891.8 1,149.9 896.1 2,116.8 144.9 601.3
Aug 08 75.2 892.8 1,159.1 901.6 2,127.0 146.8 606.3
Sep 08 75.3 891.6 1,170.5 895.2 2,137.3 150.3 612.7
Oct 08 75.3 917.9 1,154.7 870.5 2,147.9 152.2 617.3
Nov 08 74.9 910.7 1,174.1 870.7 2,159.7 154.1 622.0

Note: The Table includes the mortgage-credit lending to residents only, whereas Tables 7 and 8 include the institutes' total lending to residents.

1 The mortgage-credit institutes' instalment-free lending to owner-occupied dwellings.

The banks' effective interest rates Table 10
  Lending Deposits
All sectors House-holds,
etc.
Non-financial companies Financial companies All sectors House-holds,
etc.
Non-financial companies Financial companies
Per cent, per annum
Q3 06 5.2 6.6 5.0 3.3 2.4 2.1 2.5 2.8
Q4 06 5.4 6.8 5.2 3.5 2.7 2.4 2.9 3.2
Q1 07 5.7 7.1 5.5 3.6 3.1 2.8 3.2 3.4
Q2 07 5.9 7.2 5.7 4.0 3.4 3.1 3.4 3.8
Q3 07 6.1 7.4 6.0 4.1 3.6 3.3 3.6 4.0
Q4 07 6.2 7.4 6.1 4.3 3.7 3.4 3.7 4.1
Q1 08 6.2 7.5 6.1 4.5 3.7 3.5 3.8 4.2
Q2 08 6.5 7.7 6.3 4.6 3.8 3.6 3.9 4.2
Q3 08 6.6 7.8 6.5 4.9 4.0 3.6 4.1 4.5

Jun 08 6.5 7.7 6.4 4.7 3.9 3.6 3.9 4.3
Jul 08 6.6 7.8 6.4 4.8 4.0 3.6 4.1 4.4
Aug 08 6.6 7.8 6.4 4.7 4.0 3.6 4.1 4.5
Sep 08 6.7 7.8 6.6 5.1 4.1 3.6 4.2 4.6
Oct 08 7.0 8.2 6.9 5.3 4.4 3.8 4.5 4.9
Nov 08 7.3 8.7 7.4 5.3 4.6 4.1 4.8 5.1

SELECTED ITEMS FROM THE Balance SHEET OF
THE investment associations Table 11
End of period Total balance Assets Liabilities
Holdings of
securities
Certificates issued by investment
associations by owner
Bonds, etc. Shares, etc. House-holds,
etc.
Insurance companies and pension funds Other residents Abroad
Kr. billion

2003 367.1 237.2 108.7 188.2 103.2 60.4 12.3
2004 574.2 326.5 164.6 213.1 163.4 180.1 15.3
2005 794.7 412.1 286.4 265.7 236.5 263.0 24.4
2006 924.7 431.8 385.4 294.3 289.4 305.3 28.8
2007 1,020.7 477.9 411.6 295.2 336.8 322.1 29.2

Q3 07 1,002.2 442.6 428.8 299.8 340.9 322.8 31.1
Q4 07 1,020.7 477.9 411.6 295.2 336.8 322.1 29.2
Q1 08 963.9 466.4 356.2 268.6 329.3 304.0 23.9
Q2 08 951.4 467.2 352.0 256.5 324.1 310.9 23.0
Q3 08 889.3 458.5 302.0 238.0 310.6 275.6 19.0

  Quarterly transactions, kr. billion
Q3 07 ... 17.7 8.4 -0.1 22.5 0.3 0.0
Q4 07 ... 40.1 2.8 -0.2 3.7 6.6 -2.7
Q1 08 ... 4.0 12.0 -3.8 11.8 2.6 0.4
Q2 08 ... 12.7 9.0 1.2 2.8 20.9 -0.8
Q3 08 ... -11.1 -11.8 -3.3 3.7 -20.5 -2.0

Securities issued by residents by owner's home country Table 12
End of period Bonds, etc. Shares
Total of which:  
Central-government securities Mortgage-credit bonds
Denmark Abroad Denmark Abroad Denmark Abroad Denmark Abroad
Market value, kr. billion
2003 2,143.3 400.0 505.9 191.1 1,525.5 207.2 506.6 209.6
2004 2,379.2 434.4 498.8 213.6 1,768.7 218.4 604.3 245.2
2005 2,559.7 461.2 434.9 205.1 2,002.9 252.5 845.2 300.5
2006 2,541.3 464.7 380.1 172.6 2,034.9 285.9 989.4 361.8
2007 2,701.2 475.8 301.9 176.2 2,247.1 287.7 996.1 445.4

Jun 08 2,263.3 456.2 280.0 178.3 1,824.6 258.8 882.1 410.8
Jul 08 2,288.4 457.3 280.3 181.0 1,847.1 256.4 856.3 399.5
Aug 08 2,305.8 443.4 255.4 171.7 1,886.6 252.2 858.7 411.8
Sep 08 2,318.5 434.8 263.0 170.0 1,884.5 242.9 735.1 339.2
Oct 08 2,376.5 413.5 273.3 168.1 1,909.0 227.6 600.8 267.6
Nov 08 2,622.8 403.9 331.5 163.9 2,093.8 222.1 552.6 251.7

Note: Comprise quoted and unquoted securities registered with the VP Securities Services (VP).

households' financial assets and liabilities Table 13
End of period Assets Liabilities
Currency and
bank deposits, etc.
Bonds, etc. Shares and certific ates issued by invest ment associations, etc. Life-insurance and pension-scheme savings, etc. Total Loans, etc. Net financial assets Total
Kr. billion
2003 622 166 400 1,262 2,451 1,505 947 2,452
2004 674 174 473 1,403 2,724 1,640 1,085 2,725
2005 755 172 618 1,617 3,162 1,830 1,332 3,162
2006 808 180 713 1,681 3,381 2,033 1,348 3,382
2007 870 191 699 1,724 3,485 2,217 1,268 3,485

Q2 07 858 179 749 1,691 3,477 2,117 1,360 3,477
Q3 07 859 185 742 1,716 3,502 2,143 1,359 3,502
Q4 07 870 191 699 1,724 3,485 2,217 1,268 3,485
Q1 08 876 187 626 1,729 3,420 2,270 1,150 3,420
Q2 08 899 186 603 1,708 3,395 2,272 1,123 3,395

Companies' financial assets and liabilities Table 14
End of period Assets Liabilities
Curren -cy, bank deposits and granted credits, etc. Bonds, etc. Shares and certific ates issued by invest ment associations, etc. Total Debt Net financial assets Total
Loans, etc. Bonds, etc. issued Shares, etc. issued
Kr. billion
2003 662 121 643 1,426 1,159 109 1,131 -973 1,426
2004 647 164 746 1,557 1,223 142 1,248 -1,056 1,557
2005 739 167 968 1,875 1,354 143 1,491 -1,113 1,875
2006 765 151 1,066 1,982 1,593 140 1,554 -1,305 1,982
2007 825 132 1,106 2,064 1,721 119 1,733 -1,508 2,064

Q2 07 839 139 1,151 2,129 1,668 132 1,738 -1,410 2,129
Q3 07 836 133 1,166 2,136 1,678 120 1,801 -1,463 2,136
Q4 07 825 132 1,106 2,064 1,721 119 1,733 -1,508 2,064
Q1 08 794 131 1,056 1,982 1,782 117 1,650 -1,567 1,982
Q2 08 869 124 1,119 2,113 1,842 116 1,689 -1,533 2,113
Note: Companies are defined as non-financial companies.

Current account of the balance of payments (net revenues) Table 15
  Goods
(fob)
Services Goods and services Wages and property income Current transfers Total
current
account
Kr. billion
2003 65.9 23.2 89.2 -16.8 -24.0 48.3
2004 54.5 19.8 74.4 -2.4 -27.7 44.2
2005 43.9 38.3 82.2 9.9 -25.0 67.1
2006 17.3 40.5 57.8 16.6 -27.4 47.0
2007 -2.3 41.7 39.4 0.8 -28.2 12.0

Dec 06 - Nov 07 0.0 39.4 39.5 1.8 -29.0 12.2
Dec 07 - Nov 08 -10.0 49.6 39.6 24.2 -31.3 32.5

Jun 08 0.1 4.1 4.2 3.1 -2.1 5.2
Jul 08 0.3 3.2 3.5 3.4 -2.5 4.4
Aug 08 -3.3 7.2 4.0 2.4 -2.6 3.8
Sep 08 -0.4 5.9 5.5 3.4 -2.2 6.7
Oct 08 -1.2 5.5 4.4 2.9 -3.3 4.0
Nov 08 0.3 5.1 5.4 4.4 -2.3 7.5

Note: As of 2005 the compilation is based on new sources and methodologies resulting in breaks in data.

Financial account of the balance of payments
(net payments from abroad) Table 16
  Current account and capital account, etc.,
total
Capital import Other 2 Danmarks National bank's transactions with abroad3
Direct
investments
Portfolio investments 1 Other capital import
Danish
abroad
Foreign in Denmark
Kr. billion

2003 48.3 -8.0 17.8 -98.3 72.5 -1.5 30.8
2004 44.4 62.1 -62.6 -87.1 -22.5 59.4 -6.2
2005 70.0 -97.1 77.2 -68.8 23.2 -16.2 -11.8
2006 47.0 -50.2 16.1 -103.3 83.4 -31.4 -38.3
2007 12.3 -111.7 64.5 -34.2 54.1 13.7 -1.2

Dec 06 - Nov 07 12.2 -82.8 36.8 18.2 -21.1 39.2 2.5
Dec 07 - Nov 08 33.0 -126.3 55.9 -55.8 19.3 -48.6 -122.5

Jun 08 5.3 10.9 -0.3 3.2 -32.8 15.5 1.8
Jul 08 4.4 -12.7 5.8 -1.0 24.8 -21.1 0.2
Aug 08 3.8 -10.2 4.4 -20.9 20.8 2.3 0.2
Sep 08 6.8 -16.8 6.4 -6.1 -17.7 -4.2 -31.6
Oct 08 4.1 -4.9 0.5 22.0 -106.8 -3.5 -88.6
Nov 08 7.5 5.9 4.8 -16.1 25.1 -16.6 10.7

1 This item may differ from the total of the below Table 17, as portfolio investments are published 1-2 weeks earlier than the rest of the balance of payments.

2 Including errors and omissions and until end-December 2004 unrecorded trade credits.

3 As from 2005 transactions on all Danmarks Nationalbank's accounts with abroad. Until end-2004 only transactions on accounts included by compilation of the foreign-exchange reserve, published by press release on the 2nd banking day of each month and included in Table 2 of this section.

Portfolio investments of the balance of payments
(net payments from abroad) Table 17
  Danish securities Foreign securities Total 1
Krone-denominated bonds,
etc.
Foreign
currency
denom inated bonds,
etc.
Shares Bonds,
etc.
Shares  
Kr. billion

2003 -30.3 66.3 9.1 -121.5 -21.9 -98.3
2004 -6.2 56.9 9.7 -104.4 -43.0 -87.1
2005 20.8 122.5 -18.9 -108.2 -85.0 -68.8
2006 16.3 70.0 -34.4 -21.5 -133.8 -103.3
2007 26.0 72.6 17.2 -97.1 -52.8 -34.2

Trade credits
Jun 08 1.7 2.5 8.7 -30.8 21.1 3.2
Jul 08 -4.9 13.5 -1.8 -11.3 3.6 -1.0
Aug 08 -17.5 13.5 -1.3 -12.5 -3.1 -20.9
Sep 08 -7.0 -28.4 0.7 8.7 19.8 -6.1
Oct 08 -17.1 32.4 -10.7 -8.8 26.2 22.0
Nov 08 -4.7 10.6 -1.2 -28.4 7.6 -16.1

Note: A negative sign (-) indicates residents' net purchase of foreign securities, or non-residents' net sale of Danish securities.
1 This item may differ from "Portfolio investments" in the above Table 16, as the rest of the balance of payments is published 1-2 weeks later.
Denmark's external assets and liabilities Table 18
End of period Direct
investments
Portfolio
investments
Financial derivatives, net Other investments Danmarks Nationalbank Total
Equity Intercompany debt, etc. Shares, etc. Bonds, etc.   Loans and deposits Other  
Kr. billion
Assets                    
2003 413 198 309 446 17 57 518 31 230 2,221
2004 471 220 369 547 48 34 584 20 223 2,515
2005 564 253 556 684 85 37 720 19 217 3,136
2006 583 257 741 674 47 41 823 30 178 3,374
2007 629 284 789 733 -3 49 1,035 32 176 3,724

Q3 07 633 290 823 661 1 47 1,022 31 191 3,700
Q4 07 629 284 789 733 -3 49 1,035 32 176 3,724
Q1 08 619 302 683 690 14 51 1,073 32 185 3,651
Q2 08 678 318 663 740 -4 53 1,154 33 169 3,803
Q3 08 659 394 587 757 18 53 1,124 31 165 3,789

Liabilities                    
2003 434 162 186 762 ... 28 801 13 4 2,391
2004 429 208 241 857 ... 20 816 20 2 2,593
2005 506 231 311 1,019 ... 27 967 21 3 3,084
2006 488 273 358 1,067 ... 32 1,144 34 4 3,401
2007 528 272 427 1,122 ... 36 1,407 37 5 3,835

Q3 07 542 259 439 1,153 ... 32 1,306 37 3 3,772
Q4 07 528 272 427 1,122 ... 36 1,407 37 5 3,835
Q1 08 520 281 388 1,143 ... 36 1,448 35 3 3,855
Q2 08 529 292 416 1,135 ... 39 1,534 38 2 3,984
Q3 08 540 293 344 1,128 ... 42 1,541 37 27 3,952

Net assets                    
2003 -21 36 123 -315 17 29 -283 19 226 -170
2004 42 12 128 -310 48 14 -233 0 221 -78
2005 59 22 245 -335 85 10 -247 -2 214 51
2006 94 -16 382 -393 47 9 -321 -5 174 -27
2007 100 12 363 -389 -3 13 -372 -5 171 -112

Q3 07 91 31 384 -493 1 15 -284 -6 188 -72
Q4 07 100 12 363 -389 -3 13 -372 -5 171 -112
Q1 08 99 21 295 -453 14 15 -375 -3 183 -204
Q2 08 149 26 247 -395 -4 14 -380 -5 167 -181
Q3 08 119 101 243 -372 18 11 -417 -5 138 -163

Note: As a key principle, the market value has been used for the compilation.

gdp BY TYPE OF EXPENDITURE Table 19
  GDP Final domestic demand Exports
of goods and services
Imports of goods and services
Private consumption General-government consumption Gross fixed capital formation Change in invent-
ories
Total
Kr. billion
2003 1,400.7 666.9 371.2 271.8 3.2 1,313.1 635.1 547.6
2004 1,466.2 707.2 389.0 285.0 13.5 1,394.8 665.0 593.6
2005 1,545.3 745.1 402.5 303.9 17.9 1,469.5 757.0 681.2
2006 1,628.6 792.8 422.5 349.5 14.4 1,579.2 846.5 797.0
2007 1,687.9 826.7 438.8 376.7 9.5 1,651.7 882.8 846.6

Q3 07 421.5 201.4 109.1 92.7 4.1 407.2 224.0 209.7
Q4 07 444.5 220.1 114.3 102.3 -3.6 433.1 233.9 222.6
Q1 08 414.6 209.1 110.2 88.3 4.6 412.2 226.1 223.7
Q2 08 441.8 216.3 113.5 96.9 4.0 430.8 246.7 235.7
Q3 08 438.2 210.3 115.5 96.0 4.5 426.4 247.7 235.8

  Real growth compared with previous year, per cent

2003 0.4 1.0 0.7 -0.2 ... 0.0 -1.0 -1.6
2004 2.3 4.7 1.8 3.9 ... 4.4 2.8 7.7
2005 2.4 3.8 1.3 4.7 ... 3.5 8.0 11.1
2006 3.3 4.4 2.1 13.3 ... 5.3 9.1 13.9
2007 1.6 2.4 1.3 3.1 ... 2.0 2.2 2.8

Q3 07 2.1 3.5 0.5 0.5 ... 2.1 2.6 2.5
Q4 07 1.9 3.5 1.8 3.9 ... 2.3 0.5 0.7
Q1 08 -0.8 2.1 0.1 -2.7 ... 0.6 1.5 4.1
Q2 08 0.6 2.0 0.5 -1.1 ... 0.8 7.3 7.9
Q3 08 -1.2 0.6 1.2 0.5 ... 0.6 2.4 6.1

  Real growth compared with previous quarter (seasonally adjusted),
per cent
Q3 07 1.6 1.3 0.0 1.2 ... 1.0 3.7 2.6
Q4 07 -0.2 1.3 1.2 1.7 ... 1.4 0.0 0.5
Q1 08 -1.2 -0.4 -0.9 -2.3 ... -1.0 1.1 2.6
Q2 08 0.4 -0.3 0.2 -1.6 ... -0.4 2.5 2.0
Q3 08 -0.4 -0.2 0.7 2.7 ... 0.7 -1.1 0.8

EU-HarmoniZed index of consumer prices (HICP) and
underlying inflation (IMI) Table 20
  HICP Index of net retail prices1
Total Subcomponents:
Energy Food Core infla-tion2 Administered prices HICP excl. energy, food
and admini-stered prices3
Index of net retail prices excl. energy, food
and admini-stered prices3
Split into4:
Rent Public services Import content5 IMI6
Weights, per cent
100 10.8 19.6 69.6 7.7 4.5 57.4 50.7 16.2 34.5
Year-on-year growth, per cent
2003 2.0 0.9 0.7 2.6 2.7 8.1 2.1 1.9 0.4 2.6
2004 0.9 2.6 -2.1 1.5 2.8 4.8 1.1 0.8 1.1 0.6
2005 1.7 7.6 1.0 1.0 2.4 3.2 0.6 0.7 3.4 -0.6
2006 1.9 5.3 2.2 1.2 2.1 0.9 1.1 1.3 3.1 0.4
2007 1.7 0.3 3.7 1.3 2.1 0.6 1.2 1.4 1.4 1.4
Q1 06 2.0 8.9 0.9 1.2 2.2 2.6 1.0 1.1 3.7 -0.1
Q2 06 2.0 8.3 1.9 1.0 2.0 0.4 1.0 1.1 3.8 -0.2
Q3 06 1.8 3.9 2.6 1.3 2.0 0.2 1.2 1.6 3.2 0.8
Q4 06 1.6 0.4 3.5 1.3 2.0 0.4 1.3 1.3 1.9 1.0
Q1 07 1.9 1.1 4.1 1.3 2.0 0.3 1.3 1.3 1.7 1.1
Q2 07 1.5 -1.7 3.6 1.5 2.1 0.2 1.5 1.4 0.9 1.7
Q3 07 1.0 -1.4 2.0 1.2 2.2 0.8 1.0 1.2 0.9 1.4
Q4 07 2.2 3.3 5.2 1.2 2.0 1.0 1.2 1.6 2.0 1.4
Q1 08 3.2 7.5 6.0 1.7 2.2 2.4 1.6 2.0 3.6 1.2
Q2 08 3.7 9.7 7.4 1.7 2.6 4.0 1.4 1.8 4.2 0.6
Q3 08 4.6 10.4 8.6 2.5 3.9 3.7 2.2 2.2 5.0 0.9
Note: The weights reflect the weighting basis as of January 2006.
1 Prices in the index of net retail prices are compiled excluding indirect taxes and subsidies.
2 Core inflation is defined as the increase in HICP excluding energy and food.
3 Goods and services excluding energy, food and administered prices constitute 57.4 per cent of HICP's weight basis and 50.7 per cent of the index of net retail prices. The difference reflects that the same goods and services do not count equally in the two indices, and does not express the indirect taxation content of the consumer prices.
4 The division of the index of net retail prices into import and IMI is based on Statistics Denmark's input-output table.
5 The indirect energy content is included in the import content.
6 IMI expresses the domestic market-determined inflation. For a detailed presentation of IMI, see Bo William Hansen and Dan Knudsen, Domestic Market-Determined Inflation, Danmarks Nationalbank, Monetary Review, 4th Quarter 2005.

Selected monthly economic indicators Table 21
  Unemployment

Per cent of labour force
Quantity index Forced sales of real property New passenger car registrations
Consumer confidence indicator
Composite cyclical indicator for
Manufacturing industry 1
2000=100
Retail trade
2000=100
Manufacturing industry Building and
construction
Service
Number Balance per cent
2003 5.7 102.5 107.8 3,039 96,501 1 -6 -18 -2
2004 5.8 102.1 113.4 2,640 122,543 7 3 -5 13
2005 5.1 103.8 120.1 1,874 148,578 9 1 7 20
2006 3.9 108.0 124.0 1,231 156,719 10 9 21 24
2007 2.8 112.6 125.1 1,392 162,480 7 4 9 20
2008 ... ... ... 2,840 ... -8 -8 -16 3

  Seasonally adjusted
Jul 08 1.7 114.8 119.7 266 12,838 -9 -5 -13 5
Aug 08 1.7 112.2 120.4 266 12,381 -12 -10 -17 6
Sep 08 1.7 113.0 120.7 273 12,087 -11 -13 -24 2
Oct 08 1.8 112.5 119.3 321 10,925 -16 -13 -28 -8
Nov 08 1.9 106.0 119.9 267 8,959 -13 -19 -33 -11
Dec 08 ... ... ... 358 ... -13 -22 -34 -22

1 Excluding shipbuilding.

Selected quarterly economic indicators Table 22
  Employment Hourly earnings Property prices (purchase sum, one-family dwellings)

As a per-centage of property
value 2006
Total Private All sectors
in
Denmark,
total
Manufacturing industry
in Denmark
Manufacturing industry
abroad
 
1,000 persons 1996=100  
2003 2,756 1,914 133.3 133.8 124.1 64.4
2004 2,739 1,898 137.4 138.0 127.5 70.1
2005 2,767 1,924 141.4 141.7 130.7 82.5
2006 2,822 1,978 145.7 146.2 134.0 100.0
2007 2,898 2,056 151.3 152.0 137.1 104.8

  Seasonally adjusted
Q3 07 2,905 2,063 152.2 152.7 137.4 105.8
Q4 07 2,914 2,074 153.7 154.3 138.8 103.9
Q1 08 2,926 2,084 155.4 155.9 140.9 102.8
Q2 08 2,920 2,079 157.4 158.0 141.1 102.7
Q3 08 2,896 2,051 158.9 158.8 142.4 ...

  Change compared with previous year, per cent
2003 -1.1 -1.2 3.7 4.2 3.0 3.2
2004 -0.6 -0.8 3.1 3.1 2.7 8.9
2005 1.0 1.4 2.9 2.7 2.5 17.6
2006 2.0 2.8 3.1 3.1 2.5 21.6
2007 2.7 4.0 3.8 4.0 2.3 4.6

Q3 07 2.9 4.3 4.0 4.2 2.3 2.7
Q4 07 2.2 3.4 4.3 4.3 2.7 1.2
Q1 08 1.4 2.0 4.4 4.3 3.9 -1.2
Q2 08 1.2 1.6 4.6 4.5 3.3 -2.7
Q3 08 -0.3 -0.6 4.4 4.0 3.6 ...

Exchange rates Table 23
  EUR USD GBP SEK NOK CHF JPY
Kroner per 100 units
Average
2004 743.98 598.93 1,096.69 81.54 88.90 481.96 5.5366
2005 745.19 600.34 1,090.02 80.29 93.11 481.30 5.4473
2006 745.91 594.70 1,094.32 80.62 92.71 474.22 5.1123
2007 745.06 544.56 1,089.81 80.57 92.99 453.66 4.6247
2008 745.60 509.86 939.73 77.73 91.02 469.90 4.9494

Jul 08 745.99 473.07 940.65 78.89 92.69 460.71 4.4286
Aug 08 745.95 498.34 940.97 79.37 93.57 460.13 4.5601
Sep 08 745.83 519.17 933.27 77.99 91.46 467.85 4.8701
Oct 08 745.45 560.29 947.73 75.69 86.83 490.96 5.6096
Nov 08 744.85 585.07 897.17 73.57 84.58 491.36 6.0444
Dec 08 745.03 557.46 829.94 69.51 79.55 482.65 6.1078

effeCtivE krone RATE Table 24
Average Nominal effective krone
rate
Consumer-price indices Real
effective krone rate based on consumer prices
Real
effective krone rate based on hourly earnings
Consumer-price index in the
euro area
Denmark Abroad
1980=100 2005=100
2003 101.2 234.7 220.3 107.9 108.4 95.8
2004 102.2 237.4 224.0 108.3 109.8 97.9
2005 101.6 241.7 228.4 107.6 109.4 100.0
2006 101.6 246.2 233.0 107.5 110.2 102.2
2007 103.2 250.5 238.2 108.5 113.5 104.4
2008 105.8 ... ... ... ... ...

Jul 08 106.7 259.6 247.8 111.5 ... 108.5
Aug 08 105.8 260.0 247.6 111.0 ... 108.3
Sep 08 105.4 261.1 248.2 111.1 117.3 108.5
Oct 08 104.5 260.7 247.9 110.5 ... 108.6
Nov 08 104.7 260.0 246.5 111.3 ... 108.0
Dec 08 107.4 ... ... ... ... ...

  Change compared with previous year, per cent
2003 3.6 2.1 1.7 3.9 4.7 2.1
2004 1.0 1.2 1.7 0.4 1.3 2.1
2005 -0.6 1.8 1.9 -0.7 -0.3 2.2
2006 0.0 1.9 2.0 0.0 0.7 2.2
2007 1.6 1.7 2.2 0.9 3.0 2.1
2008 2.5 ... ... ... ... ...

Jul 08 3.3 4.0 4.0 3.1 ... 4.0
Aug 08 2.5 4.3 3.9 3.0 ... 3.8
Sep 08 1.9 4.2 3.8 2.6 3.0 3.6
Oct 08 0.8 3.7 3.3 1.9 ... 3.2
Nov 08 0.2 2.7 2.2 1.7 ... 2.1
Dec 08 2.6 ... ... ... ... ...

Note: The nominal effective krone rate index is a geometric weighting of the development in the Danish krone rate against currencies of Denmark's 27 most important trading partners. However, only 25 countries are included in the calculation of consumer prices abroad and the real effective krone rate based on consumer prices and hourly earnings, respectively.
The weights are based on trade in manufactured goods in 2002.
An increase in the index reflects a nominal or a real appreciation of the krone.

Danmarks Nationalbank's Statistical Publications

Periodical electronic publications

Danmarks Nationalbank releases new financial statistics to the public in electronic publications composed of 2 elements:

"Nyt" is available in Danish only, whereas the tables supplement and the corresponding sources and methodologies also are available in English.

Statistics databank

The above publications are supplemented by a statistics database comprising all time series which are updated concurrent with a release. The time series include data as far back in time as possible. The statistical data from Danmarks Nationalbank are published through Statistics Denmark's "StatBank Denmark". Danmarks Nationalbank's part of the "StatBank Denmark" is available directly via:

nationalbanken.statbank.dk

Special Reports

Special Reports deal with statistics of a thematic character and are not prepared on a regular basis.

Release calendar

A release calendar for the statistical publications, covering the current month and the following quarter, is available on:

www.nationalbanken.dk (see Statistics > Release calendar).

14-01-2009 07:03:00 Antal sider: 24 Rev. nr. 9 H:\kvo\ENG\2008\4qt\færdige\tabtill_4qtr_08.doc Oprettet af Palle Lorentzen