Other publications may include books, quarterly reviews, annual reports and economic bulletins from the ECB, PhD theses and Danmarks Nationalbank’s policies.
Balance of payments, net foreign assets and foreign exchange reserve
Since 1990, the current account of Denmark’s balance of payments1 has shown a surplus. This follows a long period of deficits. Consequently, the foreign debt, which peaked at approximately 45 per cent of the gross domestic product, GDP, in the second half of the 1980s, has made way for net foreign assets of the same magnitude, cf. Chart 1. The shift from a debtor to a creditor nation reflects a considerable increase in gross savings in the economy over the last 30-35 years.