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Economy of Greenland
 Nuuk skyline at night | |
| Currency | Danish krone (DKK, kr.) |
|---|---|
| calendar year | |
Country group | High-income economy[1] |
| Statistics | |
| Population |  56,653 (2021)[2] |
| GDP | |
| GDP rank | |
GDP growth | 2.8% (2019) 0.2% (2020) 1.3% (2021)[3] |
GDP per capita | |
GDP per capita rank | |
GDP by sector |
|
Population below poverty line | 16.2% (2015 est.)[4] |
 33.9 medium (2015 est.)[4] | |
| |
Labour force | |
Labour force by occupation |
|
| Unemployment | 9.1% (2015 est.)[4] |
Main industries | fish processing (mainly shrimp and Greenland halibut); Oil, gold, niobium, tantalite, uranium, iron, and diamond mining; handicrafts, hides, skins, small shipyards |
| External | |
| Exports | $1.49 billion (2022)[7] |
Export goods | fish and fish products[7] |
Main export partners |
|
| Imports | $1.05 billion (2022)[7] |
Import goods | machinery and transport equipment, manufactured goods, food, petroleum products |
Main import partners |
|
Gross external debt | $36.4 million (2010)[4] |
| Public finances | |
| 13% of GDP (2015 est.)[4] | |
| +5.6% (of GDP) (2016 est.)[4] | |
| Revenues | 1.719 billion (2016 est.)[4] |
| Expenses | 1.594 billion (2016 est.)[4] |
| Economic aid | $650 million subsidy from the Kingdom of Denmark (2012) |
All values, unless otherwise stated, are in US dollars. | |
The economy of Greenland is characterized as small, mixed and vulnerable.[8] Greenland's economy consists of a large public sector and comprehensive[9] foreign trade. This has resulted in an economy with periods of strong growth, considerable inflation, unemployment problems and extreme dependence on capital inflow from the Kingdom Government.[8]
- ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 2 February 2020.
- ^ "Population, total". data.worldbank.org. World Bank. Retrieved 26 April 2022.
- ^ a b c "Greenland - Data". data.worldbank.org. World Bank. Retrieved January 5, 2025.
- ^ a b c d e f g h i j k l m "The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 22 August 2019.
- ^ Avakov, Aleksandr Vladimirovich (2012). Quality of Life, Balance of Powers, and Nuclear Weapons (2012): A Statistical Yearbook for Statesmen and Citizens. Algora Publishing. p. 51. ISBN 978-0-87586-892-9.
- ^ "Employment to population ratio, 15+, total (%) (national estimate)". data.worldbank.org. World Bank. Retrieved 22 August 2019.
- ^ a b c d e "Greenland (GRL) Exports, Imports, and Trade Partners". oec.world. OEC. Retrieved January 5, 2025.
- ^ a b "Greenland – Its Economy and Resources" (PDF). ARCTIC. Archived from the original (PDF) on 2011-07-06. Retrieved 20 February 2011.
- ^ Nickels, Sylvie; Berg, Gösta; Berg, Gosta (October 1973). "Circumpolar Problems: Habitat, Economy and Social Relations in the Arctic. A Symposium for Anthropological Research in the North, September 1969". The Geographical Journal. 139 (3): 540. doi:10.2307/1795053. ISSN 0016-7398. JSTOR 1795053.
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