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Denmark Liquid Assets Ratio

2005 - 2024 | Quarterly | % | CEIC Data

Key information about Denmark Liquid Assets Ratio

  • Denmark Liquid Assets Ratio stood at 14.1 % in Sep 2024, compared with the previous figure of 14.5 % in Jun 2024
  • Denmark Liquid Assets Ratio data is updated quarterly, available from Mar 2005 to Sep 2024
  • The data reached an all-time high of 21.4 % in Dec 2005 and a record low of 11.4 % in Jun 2007

The International Monetary Fund provides quarterly Liquid Assets Ratio.


Further information about Denmark Liquid Assets Ratio

  • In the latest report, Denmark Capital Adequacy Ratio was measured at 25.5 % in Dec 2021, compared with the previous update of 25.3 % in Dec 2020

View Denmark's Liquid Assets Ratio from Mar 2005 to Sep 2024 in the chart:

Denmark Liquid Assets Ratio

What was Denmark's Liquid Assets Ratio in Sep 2024?

Denmark Liquid Assets Ratio stood at 14.1 % in Sep 2024, compared with the previous figure of 14.5 % in Jun 2024 See the table below for more data.

Last Previous Min Max Unit Frequency Range
14.1 Sep 2024 14.5 Jun 2024 11.4 Jun 2007 21.4 Dec 2005 % quarterly Mar 2005 - Sep 2024

Liquid Assets Ratio by Country Comparison

country/region Last Frequency Range
Albania (%) 30.6 Jan 2025 monthly Dec 2015 - Jan 2025
Algeria (%) 40.2 2022 yearly 2009 - 2022
Argentina (%) 17.8 Dec 2024 monthly Dec 1999 - Dec 2024
Armenia (%) 30.8 Dec 2024 monthly Jan 2005 - Dec 2024
Australia (%) 13.4 Dec 2024 quarterly Sep 2004 - Dec 2024
Austria (%) 46.2 Mar 2024 quarterly Dec 2006 - Mar 2024
Azerbaijan (%) 12.8 Mar 2015 quarterly Dec 2009 - Mar 2015
Bangladesh (%) 24.0 2022 yearly 1997 - 2022
Belarus (%) 27.7 Dec 2017 monthly Dec 2003 - Dec 2017
Belgium (%) 19.7 2023 yearly 2005 - 2023
Bolivia (%) 21.2 Jul 2024 monthly Jan 2010 - Jul 2024
Bosnia and Herzegovina (%) 28.8 Sep 2024 quarterly Dec 2000 - Sep 2024
Botswana (%) 12.8 Dec 2024 monthly Jan 2003 - Dec 2024
Brazil (%) 13.9 Sep 2024 quarterly Mar 2005 - Sep 2024
Brunei (%) 43.0 Sep 2024 quarterly Mar 2011 - Sep 2024
Bulgaria (%) 39.0 Dec 2017 quarterly Mar 2004 - Dec 2017
Cambodia (%) 14.4 Jun 2024 quarterly Mar 2010 - Jun 2024
Canada (%) 5.0 Dec 2024 monthly Dec 1985 - Dec 2024
Chile (%) 14.4 Sep 2024 monthly Jan 2001 - Sep 2024
China (%) 25.0 2023 yearly 2010 - 2023
Colombia (%) 5.9 Dec 2024 monthly Jan 2001 - Dec 2024
Croatia (%) 7.2 Dec 2022 quarterly Dec 2006 - Dec 2022
Cyprus (%) 37.0 Mar 2024 quarterly Mar 2014 - Mar 2024
Czech Republic (%) 29.8 Jun 2024 quarterly Dec 2008 - Jun 2024
Denmark (%) 14.1 Sep 2024 quarterly Mar 2005 - Sep 2024
Ecuador (%) 11.0 Jan 2025 monthly Jan 2006 - Jan 2025
Egypt (%) 28.8 Sep 2024 monthly Jun 2004 - Sep 2024
Estonia (%) 27.5 Jan 2025 monthly Feb 1993 - Jan 2025
Finland (%) 20.5 Jun 2024 quarterly Mar 2005 - Jun 2024
Georgia (%) 19.7 Jan 2025 monthly Jan 2001 - Jan 2025
Germany (%) 20.2 Sep 2024 quarterly Dec 2008 - Sep 2024
Ghana (%) 67.5 Jun 2024 quarterly Mar 2008 - Jun 2024
Greece (%) 27.7 Sep 2024 quarterly Sep 2008 - Sep 2024
Hong Kong SAR, China (%) 18.5 Sep 2024 quarterly Dec 2008 - Sep 2024
Hungary (%) 38.1 Jun 2018 quarterly Mar 2006 - Jun 2018
Iceland (%) 17.9 Nov 2024 monthly Dec 2013 - Nov 2024
Indonesia (%) 11.2 Dec 2024 monthly Jan 2012 - Dec 2024
Israel (%) 23.0 2014 yearly 2007 - 2014
Italy (%) 17.6 2023 yearly 2009 - 2023
Japan (%) 44.3 Sep 2024 semiannually Sep 1997 - Sep 2024
Kazakhstan (%) 59.0 Dec 2024 monthly Jul 2008 - Dec 2024
Kenya (%) 65.0 Jun 2024 monthly Jan 1999 - Jun 2024
South Korea (%) 15.9 Sep 2024 quarterly Mar 2004 - Sep 2024
Kosovo (%) 21.5 Dec 2022 semiannually Jun 2010 - Dec 2022
Kuwait (%) 16.4 Sep 2024 quarterly Mar 2017 - Sep 2024
Kyrgyzstan (%) 47.1 Sep 2024 quarterly Mar 2010 - Sep 2024
Latvia (%) 23.5 Sep 2024 quarterly Mar 2011 - Sep 2024
Lebanon (%) 11.6 Jun 2020 quarterly Jun 2011 - Jun 2020
Lithuania (%) 31.9 2014 yearly 2003 - 2014
Luxembourg (%) 58.8 Jun 2015 semiannually Dec 2005 - Jun 2015
Macau SAR, China (%) 1.6 Jan 2025 monthly Jun 1984 - Jan 2025
North Macedonia (%) 20.6 Sep 2024 quarterly Dec 2005 - Sep 2024
Malawi (%) 40.6 Dec 2022 quarterly Mar 2007 - Dec 2022
Malaysia (%) 31.5 Jan 2025 monthly Dec 1996 - Jan 2025
Malta (%) 34.4 2023 yearly 2003 - 2023
Mauritius (%) 46.0 2023 yearly 1998 - 2023
Mexico (%) 3.9 Jan 2025 monthly Jan 1997 - Jan 2025
Moldova (%) 362.2 Jan 2025 monthly Jan 2012 - Jan 2025
Montenegro (%) 26.3 Mar 2024 quarterly Dec 2003 - Mar 2024
Morocco (%) 16.5 2021 yearly 2005 - 2021
Nepal (%) 8.0 Feb 2025 monthly Jul 2003 - Feb 2025
Netherlands (%) 19.5 Jun 2024 quarterly Mar 1998 - Jun 2024
New Zealand (%) 8.0 Jun 2016 monthly Dec 2004 - Jun 2016
Nigeria (%) 32.5 Mar 2020 monthly Jun 2001 - Mar 2020
Norway (%) 16.4 Jan 2025 monthly May 2009 - Jan 2025
Oman (%) 5.9 2023 yearly 2001 - 2023
Pakistan (%) 66.5 Sep 2024 quarterly Dec 2005 - Sep 2024
Palestinian Territory (%) 31.2 Jun 2024 quarterly Dec 2008 - Jun 2024
Panama (%) 12.6 Dec 2024 monthly Jan 2003 - Dec 2024
Paraguay (%) 31.2 Jan 2025 monthly Jan 1999 - Jan 2025
Peru (%) 18.7 Jan 2025 monthly Jan 2012 - Jan 2025
Philippines (%) 28.6 Sep 2024 quarterly Jun 2008 - Sep 2024
Poland (%) 27.0 Jun 2024 quarterly Dec 2008 - Jun 2024
Portugal (%) 27.4 Sep 2024 quarterly Mar 2010 - Sep 2024
Qatar (%) 26.3 2022 yearly 2000 - 2022
Romania (%) 29.2 Jun 2023 quarterly Mar 2010 - Jun 2023
Russia (%) 23.0 Nov 2020 monthly Dec 2010 - Nov 2020
Saudi Arabia (%) 21.0 Sep 2024 quarterly Mar 2009 - Sep 2024
Serbia (%) 39.5 Sep 2024 quarterly Dec 2008 - Sep 2024
Singapore (%) 134.3 Dec 2019 quarterly Dec 2008 - Dec 2019
Slovakia (%) 29.3 Sep 2024 quarterly Mar 2011 - Sep 2024
Slovenia (%) 29.1 Dec 2024 quarterly Dec 2009 - Dec 2024
South Africa (%) 13.8 Sep 2024 monthly Mar 1988 - Sep 2024
Sri Lanka (%) 38.9 2023 yearly 2006 - 2023
Sudan (%) 62.0 2021 yearly 2007 - 2021
Sweden (%) 16.0 Jan 2025 monthly Jan 1998 - Jan 2025
Switzerland (%) 14.4 Dec 2024 monthly Dec 1987 - Dec 2024
Tajikistan (%) 44.0 Dec 2024 monthly Dec 2010 - Dec 2024
Thailand (%) 17.5 Jan 2025 monthly Jan 2003 - Jan 2025
Turkey (%) 56.9 Jan 2025 monthly Apr 2007 - Jan 2025
Ukraine (%) 74.0 Sep 2022 quarterly Dec 2005 - Sep 2022
United Arab Emirates (%) 19.6 2021 yearly 2008 - 2021
United Kingdom (%) 32.6 2022 yearly 2008 - 2022
United States (%) 13.9 Feb 2025 monthly Jan 1973 - Feb 2025
Uruguay (%) 58.8 2023 yearly 2008 - 2023
Uzbekistan (%) 18.7 Dec 2024 quarterly Mar 2011 - Dec 2024
Venezuela (%) 26.8 Mar 2023 monthly Jan 2005 - Mar 2023
Vietnam (%) 10.3 2021 yearly 2008 - 2021
Zambia (%) 42.3 Mar 2023 monthly Jan 2011 - Mar 2023

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Denmark Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) 3.5 Sep 2024 quarterly Dec 1999 - Sep 2024
Consolidated Fiscal Balance (USD mn) 3,083.691 Sep 2024 quarterly Mar 1999 - Sep 2024
Tax Revenue (USD mn) 46,725.960 Sep 2024 quarterly Mar 1999 - Sep 2024
Tax Revenue: % of GDP (%) 43.0 Sep 2024 quarterly Mar 1999 - Sep 2024
National Government Debt (USD mn) 144,478.2 Sep 2024 quarterly Mar 2000 - Sep 2024
Government Debt: % of GDP (%) 33.6 Sep 2024 quarterly Mar 2000 - Sep 2024
Forecast: Government Expenditure (DKK bn) 1,663.394 2029 yearly 1980 - 2029
Forecast: Government Net Debt (DKK bn) 925.965 2029 yearly 1992 - 2029
Forecast: Government Revenue (DKK bn) 1,661.452 2029 yearly 1980 - 2029
General Government Expenditure: Capital (DKK mn) 29,967.000 Sep 2024 quarterly Mar 1999 - Sep 2024
General Government Revenue (DKK mn) 356,936.000 Sep 2024 quarterly Mar 1999 - Sep 2024
General Government Expenditure (DKK mn) 336,001.000 Sep 2024 quarterly Mar 1999 - Sep 2024
General Government Expenditure: Current (DKK mn) 268,269.000 Dec 2018 quarterly Mar 1999 - Dec 2018
General Government Revenue: Current: Taxes on Production and Imports: ow Value A... (DKK mn) 57,510.000 Dec 2018 quarterly Mar 1999 - Dec 2018
General Government Revenue: Current (DKK mn) 290,258.000 Dec 2018 quarterly Mar 1999 - Dec 2018
General Government: Overall Surplus (DKK mn) 20,936.000 Sep 2024 quarterly Mar 1999 - Sep 2024
Central Government Debt: Gross: Domestic (DKK bn) 579.100 Jan 2025 monthly Dec 1990 - Jan 2025
Central Government Debt: Gross: Foreign (DKK bn) 22.556 Jan 2025 monthly Dec 1990 - Jan 2025
Central Government Debt: Gross (DKK bn) 601.657 Jan 2025 monthly Dec 1990 - Jan 2025
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 1.870 2029 yearly 1980 - 2029
Trade Balance (USD mn) 5,222.0 Dec 2024 monthly Jan 1997 - Dec 2024
Total Exports (USD mn) 15,976.3 Dec 2024 monthly Jan 1997 - Dec 2024
Total Exports Growth (%) 17.3 Dec 2024 monthly Jan 1998 - Dec 2024
Aluminum: Exports (USD th) 921,217.264 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 10,765,440.512 2023 yearly 1995 - 2023
Exports: Medicinal and Pharmaceutical Product (USD th) 4,743,223.619 2023 yearly 1995 - 2023
Total Imports (USD mn) 10,754.3 Dec 2024 monthly Jan 1997 - Dec 2024
Total Imports Growth (%) 0.3 Dec 2024 monthly Jan 1998 - Dec 2024
Imports: Medicament (USD th) 3,961,183.575 2023 yearly 1995 - 2023
Imports: Medicinal and Pharmaceutical Product (USD th) 1,632,019.274 2023 yearly 1995 - 2023
Total Exports to USA (USD mn) 868.035 Jan 2025 monthly Feb 1975 - Jan 2025
Total Imports from USA (USD mn) 897.548 Jan 2025 monthly Feb 1975 - Jan 2025
Total Exports to China (USD mn) 542.584 Jan 2025 monthly Feb 1975 - Jan 2025
Total Imports from China (USD mn) 826.924 Jan 2025 monthly Feb 1975 - Jan 2025
Natural Gas Exports: Sweden (TJ) 1,837.036 Dec 2024 monthly Jan 2002 - Dec 2024
Natural Gas Exports: Germany (TJ) 331.595 Dec 2024 monthly Jan 2002 - Dec 2024
Natural Gas Exports: Netherlands (TJ) 5,977.642 Dec 2024 monthly Jan 2002 - Dec 2024
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -2,580.3 Dec 2024 monthly Jan 1999 - Dec 2024
Current Account Balance (USD mn) 5,296.0 Apr 2023 monthly Jan 2005 - Apr 2023
Current Account Balance: % of GDP (%) 17.5 Dec 2024 quarterly Mar 1990 - Dec 2024
Foreign Direct Investment (USD mn) -8,630.0 Dec 2024 monthly Jan 1999 - Dec 2024
Foreign Direct Investment: % of GDP (%) 4.1 Dec 2024 quarterly Mar 1999 - Dec 2024
Foreign Portfolio Investment (USD mn) 590.515 Dec 2024 quarterly Mar 1999 - Dec 2024
Foreign Portfolio Investment: % of GDP (%) 0.4 Dec 2024 quarterly Mar 1999 - Dec 2024
Foreign Portfolio Investment: Equity Securities (USD mn) 673.5 Jun 2024 quarterly Mar 1975 - Jun 2024
Foreign Portfolio Investment: Debt Securities (USD mn) 9,659.746 Jun 2024 quarterly Mar 1975 - Jun 2024
External Debt (USD mn) 589,783.1 Sep 2024 quarterly Dec 2005 - Sep 2024
External Debt: % of GDP (%) 132.3 2023 yearly 2005 - 2023
External Debt: Short Term (USD mn) 260,282.0 Sep 2024 quarterly Mar 2005 - Sep 2024
External Debt: Short Term: % of GDP (%) 58.5 2023 yearly 2005 - 2023
Total Debt: % of GDP (%) 833.8 2023 yearly 1994 - 2023
Forecast: Current Account Balance (USD bn) 42.035 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) 243,075.992 Sep 2024 quarterly Mar 2005 - Sep 2024
BoP: Net Errors and Omissions (DKK mn) 25,422.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: Current Account: Goods and Services (DKK mn) 24,909.200 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: Current Account: Goods and Services: Services (DKK mn) 1,781.600 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: Current Account: Goods and Services: Goods f.o.b (DKK mn) 23,127.700 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: Current Account: Secondary Income (DKK mn) -4,888.300 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: Current Account: Primary Income (DKK mn) 9,980.000 Jan 2025 monthly Jan 2005 - Jan 2025
Balance of Payments (BoP): Current Account (DKK mn) 30,001.000 Jan 2025 monthly Jan 2005 - Jan 2025
Balance of Payment (BoP): Financial Account (FA): Net Assets (DKK mn) 55,648.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Net Assets: Reserve Assets (DKK mn) 8.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Net Assets: Other Investments (DKK mn) 40,272.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Net Assets: Financial Derivatives (DKK mn) 7,696.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Net Assets: Direct Investments (DKK mn) 26,508.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Assets: Direct Investments (DKK mn) 19,620.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Assets: Reserve Assets (DKK mn) 8.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Liabilities (DKK mn) -107,928.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Liabilities: Portfolio Investments (DKK mn) -12,821.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Assets (DKK mn) -52,280.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Liabilities: Other Investments (DKK mn) -32,890.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Net Assets: Portfolio Investments (DKK mn) -18,836.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Assets: Financial Derivatives (DKK mn) -47,633.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Liabilities: Direct Investments (DKK mn) -6,888.000 Jan 2025 monthly Jan 2005 - Jan 2025
BoP: FA: Assets: Portfolio Investments (DKK mn) -31,657.000 Jan 2025 monthly Jan 2005 - Jan 2025
International Investment Position (IIP): Net (DKK mn) 1,625,911.000 Sep 2024 quarterly Mar 2005 - Sep 2024
International Investment Position (IIP): Liabilities (DKK mn) 9,398,066.000 Sep 2024 quarterly Mar 2005 - Sep 2024
International Investment Position (IIP): Assets (DKK mn) 11,023,977.000 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross External Debt (DKK bn) 3,945.000 Sep 2024 quarterly Dec 2005 - Sep 2024
Gross External Debt: Short Term (DKK bn) 1,741.000 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross External Debt: Long Term (DKK bn) 2,204.000 Sep 2024 quarterly Dec 2005 - Sep 2024
Danish Direct Investment (DKK bn) -22.582 Jun 2024 quarterly Mar 2005 - Jun 2024
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 0.9 Sep 2024 quarterly Dec 2010 - Sep 2024
Household Debt: % of GDP (%) 92.2 2023 yearly 1994 - 2023
Money Supply M1 (USD mn) 186,387.350 Aug 2017 monthly Jan 1995 - Aug 2017
Money Supply M2 (USD mn) 203,577.099 Aug 2017 monthly Jan 1995 - Aug 2017
M2 Growth (%) 3.4 Aug 2017 monthly Jan 1996 - Aug 2017
Foreign Exchange Reserves (USD mn) 79,109.1 Jan 2025 monthly Jan 2002 - Jan 2025
Foreign Exchange Reserves: % of GDP (%) 18.979 Dec 2024 quarterly Mar 2002 - Dec 2024
Foreign Exchange Reserves: Months of Import (NA) 7.6 Dec 2024 monthly Jan 2002 - Dec 2024
Gold Reserves (USD mn) 5,993.115 Jan 2025 monthly Jan 1962 - Jan 2025
Total Deposits (USD mn) 295,313.499 Jan 2025 monthly Jan 2003 - Jan 2025
Total Deposits Growth (%) 6.5 Jan 2025 monthly Jan 2004 - Jan 2025
Domestic Credit (USD mn) 720,166.3 Dec 2024 monthly Dec 2001 - Dec 2024
Domestic Credit Growth (%) -8.3 Dec 2024 monthly Dec 2002 - Dec 2024
Debt Service Ratio: Households (%) 12.500 Sep 2024 quarterly Mar 1999 - Sep 2024
Debt Service Ratio: Private Non-Financial Sector (%) 25.600 Sep 2024 quarterly Mar 1999 - Sep 2024
Credit to Households (USD bn) 376.655 Sep 2024 quarterly Dec 1994 - Sep 2024
Credit to Private Non-Financial Sector (USD bn) 937.463 Sep 2024 quarterly Sep 1953 - Sep 2024
Household Debt (USD mn) 383,590.8 2023 yearly 1994 - 2023
Total Loans (USD mn) 114,741.920 Jan 2025 monthly Oct 2013 - Jan 2025
Total Loans Growth (%) 5.32 Jan 2025 monthly Oct 2014 - Jan 2025
Private Debt: % of Nominal GDP (%) 27.76 Dec 2024 quarterly Dec 2013 - Dec 2024
Money Supply: M3: M2 (DKK bn) 1,825.743 Jan 2025 monthly Jan 1991 - Jan 2025
Money Supply: M3 (DKK bn) 2,011.174 Jan 2025 monthly Jan 1991 - Jan 2025
Money Supply: M2: sa (DKK bn) 1,272.968 Aug 2017 monthly Jan 1995 - Aug 2017
Money Supply: M3: M2: M1 (DKK bn) 1,549.223 Jan 2025 monthly Jan 1991 - Jan 2025
Money Supply: M2: M1: sa (DKK bn) 1,165.480 Aug 2017 monthly Jan 1995 - Aug 2017
Official Reserve Assets: Foreign Currency Reserves (FC) (DKK bn) 356.800 Jan 2025 monthly Jan 2002 - Jan 2025
Official Reserve Assets: Gold (DKK bn) 17.800 Dec 2018 monthly Dec 1999 - Dec 2018
Official Reserve Assets (DKK bn) 689.900 Jan 2025 monthly Dec 1999 - Jan 2025
Payment Cards: Transactions: Value: Issued in Denmark (DKK mn) 211,930.000 Sep 2024 quarterly Mar 2016 - Sep 2024
Payment Cards: Transactions: Value: Issued Abroad (DKK mn) 14,419.000 Sep 2024 quarterly Mar 2016 - Sep 2024
Banks Loans: Outstanding: Financial Corporations (DKK mn) 531,022.700 Jan 2025 monthly Oct 2013 - Jan 2025
Banks Loans: Outstanding: Total (DKK mn) 1,372,583.400 Jan 2025 monthly Oct 2013 - Jan 2025
Banks Loans: Outstanding: Households (DKK mn) 446,423.800 Dec 2024 monthly Oct 2013 - Dec 2024
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 8.5 Feb 2025 monthly Jan 1986 - Feb 2025
Business Sentiment Indicator: Retail Trade (1998-2024=100) 102.400 Feb 2025 monthly Jan 1998 - Feb 2025
Business Sentiment Indicator: Industry (1998-2024=100) 107.300 Feb 2025 monthly Jan 1998 - Feb 2025
Business Sentiment Indicator: Construction (1998-2024=100) 102.000 Feb 2025 monthly Jan 1998 - Feb 2025
Business Sentiment Indicator: Service Sector (1998-2024=100) 107.100 Feb 2025 monthly Apr 2000 - Feb 2025

More Indicators for Denmark

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