Danes enjoy high living standards and wellbeing, not the least because of the reform willingness of their governments.Yet, the economic recovery has been fragile and GDP per capita is still below its precrisis levels, although Gross National Income has received a boost from favourable term of trade developments. Investment has been subdued and North-Sea oil production has been a drag on growth. Sluggish productivity growth continues to be a challenge, undermining long-term growth prospects of an economy with an ageing population. In many areas such as domestic services and retail more competitive pressure and innovationwould be a boon to growth. A number of reforms have been launched, but more can be done, for instance boosting competition in retail and pharmacies.