Territorial Review Copenhagen - Region Hovedstaden

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1.2 Profile of Copenhagen’s economy
Copenhagen has a diversified, open and service-based economy.
Copenhagen has relatively high import and export shares, and its economy is
diversified in several sectors, most of which have relatively stable markets
that are moderately exposed to risks of global price fluctuations. Several of
its strong sectors use relatively few highly technological inputs.
Manufacturing has decreased over the last decades as important source of
value added, especially in Copenhagen. Among cities in Europe,
Copenhagen has now the lowest employment share in manufacturing (13%)
and the largest employment share in the services sector (86%).
Sectors in the Capital Region with large employment shares are business
services (17% of regional employment), wholesale/retail (15.8%) and
several public services (13.2% in social institutions, 8.5% in education and
8.2% in public administration). Most value added per worker is generated in
smaller economic sectors such as finance and transport, which have also
shown the highest growth rates in value added over the last decade (together
with the wholesale sector) (Table 1.4). As compared with the Capital
Region, the city of Copenhagen has a higher employment share in business
services, public administration and culture, and a lower share in wholesale
and social institutions. Many people in Copenhagen work in small and
medium-sized enterprises. Denmark has a large number of small and
medium-sized companies. In the manufacturing and services sectors in
2005, small enterprises (with less than 50 employees) accounted for 97% of
the total number of firms. Denmark has relatively fewer micro firms
(between 1-9 employees) and a relatively high share of medium-sized
enterprises (50-249 employees). Firm size in Copenhagen as compared to
Denmark as a whole is roughly similar. Copenhagen has however a
moderate number of large multinationals, as compared with several other
cities in the OECD. Two of the Fortune Global 500-firms in 2008 were
located in Copenhagen: the logistics firm Möller-Maersk and the financial
institution Danske Bank Group. This number is smaller than in several
similar-sized cities such as Zurich, Munich, Brussels, Amsterdam and
Stockholm.