United States and Denmark
The Arctic and Greenland are central to understanding the security relationship, but Greenland is not US territory. The tripartite agreement signed in September 2026 expands the cooperation framework. Denmark also maintains trade, business and civilian connections with the United States.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07Greenland has its own institutional position
The September 2026 agreement brings together the United States, the Government of the Kingdom of Denmark and the Government of Greenland.
Defence of the Arctic and North Atlantic
The Danish communication of 22 September presents the instrument as strengthening defence and security in the Arctic and North Atlantic.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 16,715 M USD | 2025 · Census |
| Goods: United States to Denmark | 4,560.1 M USD | 2025 · Census |
| Goods: Denmark to United States | 12,154.9 M USD | 2025 · Census |
| Services trade | ||
| Export share: United States to Denmark | 0.21 % | 2025 · Census |
| Export share: Denmark to United States | ||
| Investment stock: United States in Denmark | 10,901 M USDBEA est. | 2025 · BEA |
| Investment stock: Denmark in United States | 56,247 M USDBEA est. | 2025 · BEA |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · U.S. Census Bureau · Goods, January–December 2025, United States reporter. Not services or affiliate production.
- Goods: United States to Denmark
- 2025 · U.S. Census Bureau · Goods, January–December 2025, United States reporter. Not services or affiliate production.
- Goods: Denmark to United States
- 2025 · U.S. Census Bureau · Goods, January–December 2025, United States reporter. Not services or affiliate production.
- Export share: United States to Denmark
- 2025 · U.S. Census Bureau · U.S. Census Bureau (other direction) · US goods exports to the partner / US goods exports to the world; same year and reporter.
- Investment stock: United States in Denmark
- 2025 · BEA · Direct investment position at historical cost; immediate counterparty. Not portfolio investment or announced commitments. Published negative values are retained.
- Investment stock: Denmark in United States
- 2025 · BEA · Direct investment position at historical cost; immediate counterparty. Not portfolio investment or announced commitments. Published negative values are retained.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Some annual indicators refer to different years. Check the period beside each value before comparing them.
| Indicator | United States | Denmark |
|---|---|---|
| Nominal GDP | 30.77 trillion USD2025 · WB | 462.53 billion USD2025 · WB |
| GDP per capita | 90,026.52 USD2025 · WB | 76,970.15 USD2025 · WB |
| GDP growth | 2.16 %2025 · WB | 2.93 %2025 · WB |
| Policy interest rate | 3.75–4 %2026-09-16 · Fed | |
| Inflation · annual average | 2.7 %IMF est.Annual average · 2025 · IMF | 1.89 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 3.4 %Year-on-year · Aug. 2026 · BLS | |
| Unemployment | 4.2 %ILO est.2025 · WB | 5.53 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -6.8 %IMF est.2025 · IMF | 2.9 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 123.9 %IMF est.2025 · IMF | 27.5 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -3.63 %2025 · WB | 12.2 %2024 · WB |
| Population | 341,784,8572025 · WB | 6,009,1692025 · WB |
| Area | 9,831,510 km²2023 · BM / FAO | 42,920 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDUnited States: 2025 · World BankDenmark: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- GDP per capita
- Current USD per personUnited States: 2025 · World BankDenmark: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- GDP growth
- Annual real change (%)United States: 2025 · World BankDenmark: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Policy interest rate
- Central bank instrument (%)United States: 2026-09-16 · Federal funds target range · Federal Reserve
- Inflation · annual average
- Average annual change in headline CPI (%)United States: 2025 · Average annual change in headline CPI (%) · IMF — World Economic Outlook · IMF est. · WEO estimate; not the year-on-year change for December or August 2026. · Alternative official source; verified 2026-10-07Denmark: 2025 · Annual average CPI change (%) · World Bank · Official World Bank series. Observation year, not download date.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedUnited States: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · U.S. Bureau of Labor Statistics · Published: 2026-09-11 · Headline year-on-year CPI-U, not seasonally adjusted; not monthly or core inflation.
- Unemployment
- % of the labour force; definition used by the stated institutionUnited States: 2025 · World Bank · ILO est.Denmark: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Official World Bank series. Observation year, not download date.
- Budget balance
- General government (% of GDP)United States: 2025 · IMF — World Economic Outlook · IMF est.Denmark: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)United States: 2025 · IMF — World Economic Outlook · IMF est.Denmark: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPUnited States: 2025 · World BankDenmark: 2024 · World Bank · Official World Bank series. Observation year, not download date.
- Population
- PeopleUnited States: 2025 · World BankDenmark: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Area
- Total area in km²; territorial coverage of the sourceUnited States: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAODenmark: 2023 · World Bank · Official World Bank series. Observation year, not download date.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
United States to Denmark
| Product or sector | Value / share |
|---|---|
| Mineral fuels and oils | 860.8 M USD2025 · Source |
| Pharmaceutical products | 515.1 M USD2025 · Source |
| Machinery and mechanical appliances | 464.3 M USD2025 · Source |
| Electrical and electronic equipment | 337.7 M USD2025 · Source |
| Land vehicles and components | 42.8 M USD2025 · Source |
Denmark to United States
| Product or sector | Value / share |
|---|---|
| Pharmaceutical products | 3,896.2 M USD2025 · Source |
| Machinery and mechanical appliances | 1,858.5 M USD2025 · Source |
| Electrical and electronic equipment | 678.2 M USD2025 · Source |
| Land vehicles and components | 79.1 M USD2025 · Source |
| Mineral fuels and oils | 70.3 M USD2025 · Source |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | United States to Denmark | Denmark to United States |
|---|---|---|---|
| 2021 | 15,649.9 | 3,540.2 | 12,109.7 |
| 2022 | 17,562 | 4,595.8 | 12,966.2 |
| 2023 | 16,827.8 | 5,212.9 | 11,614.9 |
| 2024 | 15,939.3 | 5,905.7 | 10,033.6 |
| 2025 | 16,715 | 4,560.1 | 12,154.9 |
Connections between people
Greenland's interests and authorities are distinct from Danish national statistics. Travel data do not represent the opinions of their populations. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from United States living in Denmark | ||
| Residents from Denmark living in United States | ||
| Study and training: United States in Denmark | ||
| Study and training: Denmark in United StatesStudy and OPT training in the United States | 1,172 | 2024/25 · IIE / Open Doors |
| Academic stays: United States in DenmarkU.S. study-abroad stays carrying academic credit | 5,421 | 2023/24 · IIE / Open Doors |
| Academic stays: Denmark in United States | ||
| Travel: United States to Denmark | ||
| Travel: Denmark to United StatesCountry of residence; international arrivals in the United States | 180,571arrivals | 2025 · NTTO |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
- Study and training: Denmark in United States
- Open Doors: students by place of origin, including OPT practical training. Not visas or residents. 2024/25 · IIE / Open Doors
- Academic stays: United States in Denmark
- Mobility for academic credit reported by US institutions. Not the total number of residents or enrolment on a particular date. 2023/24 · IIE / Open Doors
- Travel: Denmark to United States
- Arrivals by country of residence; not nationality, unique travellers or permanent residence. NTTO series coverage. 2025 · NTTO
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
Greenland has its own institutional position
The September 2026 agreement brings together the United States, the Government of the Kingdom of Denmark and the Government of Greenland. That composition matters: it is not a bilateral contract that ignores Greenland's authorities. The text updates earlier defence frameworks, including the 1951 agreement and the 2004 Igaliku agreement. Security cooperation and transfer of sovereignty are different issues. [1]
Defence of the Arctic and North Atlantic
The Danish communication of 22 September presents the instrument as strengthening defence and security in the Arctic and North Atlantic. Geography and facilities give it a strategic dimension beyond Danish–US trade. A goods figure does not measure surveillance, military infrastructure or early warning capability. The parties and area of application must remain explicit when describing its effects. [2]
Legal background to the new instrument
The text signed in New York refers to the 1951 defence agreement and the Igaliku amendment of August 2004. This continuity shows how a decades-old framework is revised through a new instrument. Earlier political statements and the articles ultimately signed are not equivalent. This profile uses the document published by the parties and retains its signing date. [1]
The scale of the two economies
The United States recorded nominal GDP of 30,769.7 billion USD in 2025, compared with 462.5 in 2025 for Denmark. The reference populations were 341.78 million (2025) and 6.01 million (2025), respectively. In the same year, US nominal GDP was 66.53 times Denmark's. These figures provide context on market size; they do not, on their own, describe well-being, individual wealth or political influence. IMF estimates and demographic extrapolations retain their labels in the table. No ratio is calculated when the periods differ. [6] [7] [8] [9]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
The agreement signed on 22 September 2026
The signing provides a recent, verifiable event following the political controversy over Greenland. The Danish statement and US text identify the instrument without automatically adopting a leader's broader description. Arctic cooperation is kept separate from Denmark's national indicators: trade, investment and mobility are not attributed entirely to Greenland or presented as statistics for the territory. [2] [1]
Observed economic exchange
In 2025, recorded goods trade between the United States and Denmark totalled 16,715 million USD. Shipments from the United States to Denmark were 4,560.1 million USD; those in the reverse direction were 12,154.9 million USD. US shipments to the partner represented 0.21% of its goods exports to the world, using the same year and reporter. A single customs reporting source is used for both directions. This annual flow does not include all services activity or affiliates' local sales and is not added to accumulated investment capital. [3]
Recorded direct investment capital, not announced investment
The US direct investment position in Denmark was 10,901 million USD in 2025. Denmark's direct investment position in the United States was 56,247 million USD in 2025. BEA uses historical cost and the immediate counterpart. The figure is capital recorded at the end of the period, not a purchase or promise made during the year. It may reflect affiliate structures and financing; published negative values are not replaced with zero. It does not include all portfolio investment or allow each project to be valued individually. [4] [5]
Human connections with their own figures
In 2025, the source recorded 180,571 arrivals from Denmark to the United States, with the coverage indicated in the table. [10]
In 2024/25, the source recorded 1,172 students and OPT practical training participants from Denmark in the United States. [11]
In 2023/24, 5,421 stays carrying academic credit were recorded from the United States to Denmark. [11]
The counts describe different populations and periods: they are not added as a total of unique people. Open Doors includes OPT practical training; US study stays require academic credit. Arrivals by country of residence do not equate to nationality or permanent residence. The academic year retains its coverage and is not relabelled as a calendar year. [10] [11]
Milestones and consequences
Sources and data
Periods and scope of the figures
Each figure retains its period, unit, definition and source. Announcements, contracts and results are not interchangeable. Empty cells do not mean zero. Customs data for 2025 are not presented as activity observed during later crises.
- Text of the September 2026 agreement
White House / tripartite agreement · Institutional source · Document: 2026-09-22 · Accessed: 2026-10-07
- Arctic defence and security agreement
Denmark's Ministry of Foreign Affairs · Institutional source · Document: 2026-09-22 · Accessed: 2026-10-07
- TOTAL rows 2021–2025; US reporter; goods; million USD
U.S. Census Bureau · Institutional source · Accessed: 2026-10-07
- Position; country row; G=2025; million USD; historical cost; immediate counterparty
BEA · Institutional source · Accessed: 2026-10-07
- Position; country row; G=2025; million USD; historical cost; immediate counterparty
BEA · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- NY.GDP.MKTP.CD; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- Annual; country-of-residence row; AC=2025; arrivals, not unique people
NTTO · Institutional source · Accessed: 2026-10-07
- International Student Totals: 2024/25 incl OPT; US study abroad 2023/24. Not visa issuance.
IIE / Open Doors · Institutional source · Accessed: 2026-10-07
- HS2 27; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 30; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 84; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 85; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
- HS2 87; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods
UN Comtrade / USA · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 27; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 30; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 84; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 85; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.
- UN Comtrade / USA
2026-10-07 · Accessed: 2026-10-07 · HS2 87; 2025; reporter 842; partners 804,616,380,528,752,579,208,792,818,784,634,400,586,360,704,608,764,702,554,710,566,404,170,152,32; X/M; annual goods.