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Greenland:
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Other pages in this profile of Greenland:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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Economy - overview |
Definition The economy remains critically dependent on exports of fish and a substantial subsidy from the Danish Government, which supplies about half of government revenues. The public sector, including publicly owned enterprises and the municipalities, plays the dominant role in the economy. Several interesting hydrocarbon and mineral exploration activities are ongoing. Press reports in early 2007 indicated that two international aluminum companies were considering building smelters in Greenland to take advantage of local hydropower potential. Tourism is the only sector offering any near-term potential, and even this is limited due to a short season and high costs. Air Greenland began summer-season direct flights to the US east coast in May 2007, potentially opening a major new tourism market. |
GDP (purchasing power parity) |
Definition - World rank and map $1.1 billion (2001 est.) |
GDP (official exchange rate) |
Definition $1.7 billion (2005) |
GDP - real growth rate |
Definition - World rank and map 2% (2005 est.) |
GDP - per capita |
Definition - World rank and map $20,000 (2001 est.) |
GDP - composition by sector |
Definition agriculture: NA% industry: NA% services: NA% |
Labor force |
Definition 32,120 (2004) |
Unemployment rate |
Definition - World rank and map 9.3% (2005 est.) |
Population below poverty line |
Definition NA% |
Household income or consumption by percentage share |
Definition lowest 10%: NA% highest 10%: NA% |
Inflation rate (consumer prices) |
Definition - World rank and map 1% (2005 est.) |
Budget |
Definition revenues: $1.36 billion expenditures: $1.27 billion (2005) |
Agriculture - products |
Definition forage crops, garden and greenhouse vegetables; sheep, reindeer; fish |
Industries |
Definition fish processing (mainly shrimp and Greenland halibut); gold, niobium, tantalite, uranium, iron and diamond mining; handicrafts, hides and skins, small shipyards |
Industrial production growth rate |
Definition - World rank and map NA% |
Electricity - production |
Definition - World rank and map 300 million kWh (2005) |
Electricity - consumption |
Definition - World rank and map 279 million kWh (2005) |
Electricity - consumption per capita |
Definition - World rank and map 4,953.4 kWh (2005) |
Electricity - exports |
Definition 0 kWh (2005) |
Electricity - imports |
Definition 0 kWh (2005) |
Oil - production |
Definition - World rank and map 0 bbl/day (2005 est.) |
Oil - consumption |
Definition - World rank and map 3,880 bbl/day (2005 est.) |
Oil - consumption per 1,000 people |
Definition - World rank and map 68.9 bbl/day (2005 est.) |
Oil - exports |
Definition - World rank and map 149.1 bbl/day (2004) |
Oil - imports |
Definition - World rank and map 4,013 bbl/day (2004) |
Oil - proved reserves |
Definition - World rank and map 0 bbl (1 January 2006 est.) |
Natural gas - production |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - consumption |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - consumption per capita |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - exports |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - imports |
Definition - World rank and map 0 cu m (2005) |
Natural gas - proved reserves |
Definition - World rank and map 0 cu m (1 January 2006 est.) |
Exports |
Definition - World rank and map $480 million f.o.b. (2006) |
Exports - commodities |
Definition fish and fish products 94% (prawns 63%) (2001 est.) |
Exports - partners |
Definition Denmark 63%, Japan 10.2%, Canada 6.9%, China 6% (2006) |
Imports |
Definition - World rank and map $712 million c.i.f. (2006) |
Imports - commodities |
Definition machinery and transport equipment, manufactured goods, food, petroleum products |
Imports - partners |
Definition Denmark 68%, Sweden 19.3%, Canada 3.1% (2006) |
Debt - external |
Definition - World rank and map $25 million (1999) |
Economic aid - recipient |
Definition $512 million; note - subsidy from Denmark (2005) |
Currency (code) |
Definition Danish krone (DKK) |
Exchange rates |
Definition Danish kroner per US dollar - 5.4797 (2007), 5.9468 (2006), 5.9969 (2005), 5.9911 (2004), 6.5877 (2003) |
Fiscal year |
Definition calendar year |
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