Denmark's domestic extraction of fossil fuels has been on a significant decline from 2013 to 2023. In 2023, the extraction stood at 3.91 million metric tons, which reflects a notable reduction from 12.68 million metric tons in 2013. The year-on-year variation from 2021 to 2023 shows significant drops, particularly a 17.75% decrease in 2023. The CAGR over the last five years indicates an average annual decrease of 15.56%.
Looking ahead, the forecast suggests a sharp continuation of this declining trend. From 2024 to 2028, the extraction is projected to decrease at a CAGR of 33.59%, resulting in an 87.08% reduction from 3.91 to 0.41 million metric tons. Future trends to watch for include the increasing role of renewable energy sources and potential policy shifts favoring green energy, which will likely continue to drive down fossil fuel extraction.
