Greenland - Economy
How is the economy of Greenland? Based on the information we have, Greenland has a high-income, self-governing Danish territorial economy; non-EU member but preferential market access; dependent on Danish financial support; exports led by fishing industry; growing tourism and interest in untapped mineral deposits; relies on hydropower for fuel. Key agricultural products in this country include: sheep, cattle, reindeer, fish, shellfish.
More about the economy of Greenland
| Labor force | |
|---|---|
| Industrial production growth rate | -1.3% (2023 est.) |
| Industries | fish processing (mainly shrimp and Greenland halibut), anorthosite and ruby mining, handicrafts, hides and skins, small shipyards |
| Population below poverty line | |
| Taxes and other revenues | |
| Fiscal year | |
| Exchange rates | |
| Currency | Danish kroner (DKK) per US dollar - |
| Exchange rates 2024 | 6.894 (2024 est.) |
| Exchange rates 2023 | 6.89 (2023 est.) |
| Exchange rates 2022 | 7.076 (2022 est.) |
| Exchange rates 2021 | 6.287 (2021 est.) |
| Exchange rates 2020 | 6.542 (2020 est.) |
| Budget | |
| Revenues | $1.719 billion (2016 est.) |
| Expenditures | $1.594 billion (2016 est.) |
| Budget surplus (+) or deficit (-) | |
| Imports | |
| Imports 2023 | $1.7 billion (2023 est.) |
| Imports 2022 | $1.657 billion (2022 est.) |
| Imports 2021 | $1.635 billion (2021 est.) |
| Imports (partners) | Denmark 58%, Sweden 19%, Spain 8%, Iceland 7%, Canada 2% (2023) |
| Comodities Imports force | refined petroleum, ships, garments, plastic products, furniture (2023) |
| Exports | |
| Imports 2023 | $1.7 billion (2023 est.) |
| Imports 2022 | $1.657 billion (2022 est.) |
| Imports 2021 | $1.635 billion (2021 est.) |
| Exports (partners) | Denmark 50%, China 23%, UK 5%, Japan 5%, Germany 3% (2023) |
| Comodities Exports force | fish, shellfish, processed crustaceans, ships, precious stones (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $4.04 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $4.005 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $3.926 billion (2021 est.) |
| GDP (official exchange rate) | $3.327 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $71,000 (2023 est.) |
| Real GDP per capita 2022 | $70,700 (2022 est.) |
| Real GDP per capita 2021 | $69,300 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 16.6% (2023 est.) |
| Industry | 18.4% (2023 est.) |
| Services | 61% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 32.6% (2023 est.) |
| Government consumption | 41.7% (2023 est.) |
| Investment in fixed capital | 34.7% (2023 est.) |
| Investment in inventories | 1.3% (2023 est.) |
| Exports of goods and services | 40.8% (2023 est.) |
| Imports of goods and services | -51.1% (2023 est.) |
All Important Facts about Greenland
Want to know more about Greenland? Check all different factbooks for Greenland below.
