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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 |
|
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 |  $407.1 million (2015 est.)[4] |
Export goods | fish and fish products 91% (2015 est.) |
Main export partners | |
| Imports | $783.5 million (2015 est.)[4] |
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 | $650 million subsidy from the Kingdom of Denmark (2012) |
All values, unless otherwise stated, are in US dollars. | |
The economy of Greenland is characterized as small, mixed and vulnerable.[9] Greenland's economy consists of a large public sector and comprehensive[10] foreign trade. This has resulted in an economy with periods of strong growth, considerable inflation, unemployment problems and extreme dependence on capital inflow from the Kingdom Government.[9]
GDP per capita is close to the average for European economies, but the economy is critically dependent upon substantial support from the Danish government, which supplies about half the revenues of the self-rule government, which in turn employs 10,307 Greenlanders[11] out of 25,620 currently in employment (2015). Unemployment nonetheless remains high, with the rest of the economy dependent upon demand for exports of shrimp and fish.[12]
- ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 2 February 2020.
- ^ "Population, total". data.worldbank.org. World Bank. Retrieved 26 April 2022.
- ^ "GDP (current US$)". data.worldbank.org. World Bank. Retrieved 22 August 2019.
- ^ a b c d e f g h i j k l m n o p q "The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 22 August 2019.
- ^ "GDP growth (annual %) - Greenland". data.worldbank.org. World Bank. Retrieved 2 February 2020.
- ^ "GDP per capita (current US$)". data.worldbank.org. World Bank. 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 "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.
- ^ StatBank Greenland. "Main employment for permanent residents by time, industry, gender, age, place of residence, place of birth and inventory". Accessed 19 Jan 2017.
- ^ "The Economy of Greenland is Dependent on Fishing". Danish Exporters. Retrieved 20 February 2011.
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