SWOT Analysis of Denmark

Name: Ngô Thị Khánh Hòa

Code: 71131106712
Strength
Well Developed Economy
With 5,892,871 inhabitants (1 May 2022), Denmark has the 36th largest
national economy in the world measured by nominal gross domestic product
(GDP), and the 51st largest in the world measured by purchasing power parity
(PPP). Danish citizens are the world’s happiest people because they earn
enough money to fulfill their needs, and they live a quality life.
EU Membership
Denmark is one of the oldest and oldest members of the European Union.
Becoming a member of the EU brings a lot of advantages to a country and its
citizens. They can freely trade goods and services with other member nations,
for example. All member states must permit their citizens to travel freely and
without documentation.
Socio-Cultural Order
Because the nation's economy is solid and its citizens enjoy fulfilling lives,
there are fewer crimes overall. People in the nation are better educated and more
accepting of those from various cultures and religions due to the sociocultural
order of the nation.
Danish society, however, is remarkably harmonious and united. The
effectiveness of people's labor is greatly impacted by such a serene social
environment. As a result, they produce far more due to the nation's
socioeconomic structure.
No tampering
Denmark is among the nations with the lowest rates of corruption, according to
Transparency International's rating. Between citizens, politicians, and
governmental institutions, there is always trust. Society functions more
effectively when there is trust because everyone feels accountable for doing
their tasks.
Weakness
Small geography of Denmark
Due to its small geography, it has few natural resources for profit such as land
for agriculture and cultivation.
Relying on fossil fuels
Although the country has made much progress in the field of renewable energy;
Denmark's renewable resources meet about 50% of the country's energy needs.
They have to burn fossil fuels to meet their energy needs. However, the country
used to export additional oil and gas reserves, but its growing energy demand is
causing it to burn it, rather than export it.
Burning fossil fuels is not only bad for the environment but also bad for the
country's economy. That is because the EU is planning to impose an
environmental tax on member countries that are still dependent on oil and gas.
Such taxation will cause a lot of damage to the country's economy.
Using the government sector
The fact that the majority of jobs in Denmark are in the service sector
demonstrates how severely reliant the Danish people are on both their
government and their service sector. Should the nation experience an abrupt
economic slump, it may be disastrous. They will be forced to downsize, which
will result in significant unemployment.

Opportunities
Sources of renewable energy
With a 50% energy shortfall to fill, the sectors of renewable energy and wind
turbines are expanding. The economy of Denmark might gain from government
investment in this area in a variety of ways. For instance, it would provide
employment possibilities and change the proportion of the nation's economy
devoted to services.
Most importantly, it would encourage the use of clean, renewable energy
throughout the nation. This would reduce several economic costs, including EU
environmental levies and the price of oil and gas, in addition to being beneficial
for the environment.

Threats
Economic depression
Any unexpected economic downturn would send the country down from 100 to
20 as much of her job market is based largely on the service industry and the
public sector. If any natural disaster or economic downturn occurs, then the
country will have to cut their additional resources. That will drag thousands of
unemployed on the roads; Crime rate will go up because people won't have
money to buy it honestly. The whole peaceful social order will turn into chaos
because hunger will force them to do anything.