Overview

• Export growth is now projected at 0.9% in 2025, down from a May forecast of 4.3%, after an early‑2025 drop that followed a late‑2024 inventory surge.
• The economy ministry cites inventory normalization, tougher GLP‑1 competition, generic medicines and U.S. tariffs as the main drags on pharma exports.
• Despite the downgrade, the ministry says employment remains high and inflation is expected to stay below 2% on an annual basis.
• The 2026 GDP forecast has been raised to 2.1% on expectations for stronger private and public consumption.
• Economy Minister Stephanie Lose is set to present the revised outlook at a press conference in Copenhagen.