Greenland - Economy
How is the economy of Greenland? Based on the information we have, Greenland has a large self-governing Danish territorial economy; preferential EU market access; high-income economy; dependent on Danish financial support, even for whaling and sealing industries; growing tourism; hydropower-fueled but environmentally fragile economy. Key agricultural products in this country include: sheep, cattle, reindeer, fish, shellfish.
More about the economy of Greenland
| Labor force | 26,840 (2015 est.) |
|---|---|
| Industrial production growth rate | -10.63% (2021 est.) |
| Industries | fish processing (mainly shrimp and Greenland halibut), anorthosite and ruby mining, handicrafts, hides and skins, small shipyards |
| Population below poverty line | 16.2% (2015 est.) |
| Taxes and other revenues | 77.4% (of GDP) (2016 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Danish kroner (DKK) per US dollar - |
| 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.) |
| Exchange rates 2019 | 6.669 (2019 est.) |
| Public debt | |
| Public debt 2015 | 13% of GDP (2015 est.) |
| Budget | |
| Revenues | $1.719 billion (2016 est.) |
| Expenditures | $1.594 billion (2016 est.) |
| Budget surplus (+) or deficit (-) | |
| Imports | |
| Imports 2021 | $1.609 billion (2021 est.) |
| Imports 2020 | $1.441 billion (2020 est.) |
| Imports 2019 | $1.533 billion (2019 est.) |
| Imports (partners) | Denmark 56%, Sweden 22%, France 10%, Iceland 3%, Canada 3% (2022) |
| Comodities Imports force | refined petroleum, aircraft, garments, construction vehicles, plastic products (2022) |
| Exports | |
| Imports 2021 | $1.609 billion (2021 est.) |
| Imports 2020 | $1.441 billion (2020 est.) |
| Imports 2019 | $1.533 billion (2019 est.) |
| Exports (partners) | Denmark 49%, China 24%, UK 6%, Japan 5%, Taiwan 3% (2022) |
| Comodities Exports force | fish, shellfish, processed crustaceans, precious stones, animal products (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2021 | $3.857 billion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $3.808 billion (2020 est.) |
| Real GDP (purchasing power parity) 2019 | $3.801 billion (2019 est.) |
| GDP (official exchange rate) | $3.236 billion (2021 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2021 | $68,100 (2021 est.) |
| Real GDP per capita 2020 | $67,600 (2020 est.) |
| Real GDP per capita 2019 | $67,600 (2019 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 17.5% (2021 est.) |
| Industry | 16.1% (2021 est.) |
| Services | 62.7% (2021 est.) |
| GDP - composition, by end use | |
| Household consumption | 35.8% (2021 est.) |
| Government consumption | 45.1% (2021 est.) |
| Investment in fixed capital | 33.3% (2021 est.) |
| Exports of goods and services | 35.4% (2021 est.) |
| Imports of goods and services | -49.7% (2021 est.) |
| Unemployment rate | |
| Unemployment rate 2015 | 9.1% (2015 est.) |
| Unemployment rate 2014 | 10.3% (2014 est.) |
All Important Facts about Greenland
Want to know more about Greenland? Check all different factbooks for Greenland below.
