Denmark has significantly revised down its economic growth forecast for 2025, halving the expected expansion due to weaker-than-anticipated export performance, primarily driven by declining market share for pharmaceutical giant Novo Nordisk in the United States. According to a Bloomberg report, exports are now projected to grow by only 0.9%, a sharp drop from the 4.3% increase anticipated in May.
Economy Minister Stephanie Lose is scheduled to present the updated economic outlook at a press briefing in Copenhagen on Friday. She emphasized that while the pharmaceutical sector will remain a cornerstone of Denmark’s economy, the extraordinary growth rates seen in recent years are unlikely to continue.
The Danish Ministry of Economic Affairs and Novo Nordisk have not yet responded to requests for comment. Reuters has not independently confirmed the details of the forecast revision.
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Denmark halves economic growth forecast on Novo Nordisk weakness, Bloomberg says
The government highlighted a significant decline in exports, now expected to grow by just 0.9% in 2025 compared to a May forecast of 4.3%, largely due to Novo Nordisk losing U.S. market share, the report said. n nSign up here. n nDenmark ‘s Economy Minister Stephanie Lose is set to present the revised outlook at a press conference on Friday in Copenhagen, the report added. n n”We expect that the pharmaceutical industry will continue to be of great importance to the Danish economy, even though we cannot expect the same extraordinarily large growth as in recent years,” Bloomberg quoted Lose as saying in the documents. n nDenmark ‘s Ministry of Economic Affairs and Novo Nordisk did not immediately respond to Reuters ‘ requests for comments. Reuters could not immediately verify the report. n nReporting by Bipasha Dey in Bengaluru; Editing by Cynthia Osterman