Greenland Economic Statistics and Indicators

03, Sep 2015, EDT. Welcome to the Greenland economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Greenland › Change country
National or Regional Currency: Danish Krone, DKK
Year of data: 2014 › Change year
Number of Indicators Listed:
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 57,728 (July 2014 est.)
Area: total: 2,166,086 sq km ; land: 2,166,086 sq km (410,449 sq km ice-free, 1,755,637 sq km ice-covered)
Natural Resources: coal, iron ore, lead, zinc, molybdenum, diamonds, gold, platinum, niobium, tantalite, uranium, fish, seals, whales, hydropower, possible oil and gas
Capital: name: Nuuk (Godthab) ; geographic coordinates: 64 11 N, 51 45 W ; time difference: UTC-3 (2 hours ahead of Washington, DC, during Standard Time) ; daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October ; note: Greenland has four time zones

The economy remains critically dependent on exports of shrimp and fish, income from resource exploration and extraction, and on a substantial subsidy from the Danish Government. The subsidy was budgeted to be about $651 million in 2012, approximately 56% of government revenues that year. The public sector, including publicly owned enterprises and the municipalities, plays the dominant role in Greenland's economy. Greenland's real GDP contracted about 1% in 2009 as a result of the global economic slowdown, but is estimated to have grown marginally in 2010-13. The relative ease with which Greenland has weathered the economic crisis is due to increased hydrocarbon and mineral exploration and extraction activities, a high level of construction activity in the Nuuk area and the increasing price of fish and shrimp. During the last decade the Greenland Home Rule Government (GHRG) pursued conservative fiscal and monetary policies, but public pressure has increased for better schools, health care and retirement systems. The Greenlandic economy has benefited from increasing catches and exports of shrimp, Greenland halibut and, more recently, crabs. Due to Greenland's continued dependence on exports of fish - which accounted for 89% of exports in 2010 - the economy remains very sensitive to foreign developments. International consortia are increasingly active in exploring for hydrocarbon resources off Greenland's western coast, and international studies indicate the potential for oil and gas fields in northern and northeastern Greenland. In May 2007 a US aluminum producer concluded a memorandum of understanding with the Greenland Home Rule Government to build an aluminum smelter and a power generation facility, which takes advantage of Greenland's abundant hydropower potential. Within the area of mining, olivine sand continues to be produced and gold production has resumed in south Greenland, while rare-earth and iron ore mineral projects have been proposed or planned elsewhere on the island. Tourism also offers another avenue of economic growth for Greenland, with increasing numbers of cruise lines now operating in Greenland's western and southern waters during the peak summer tourism season.
More on the Greenland Economy
More on the Greenland Export, Import and Trade

Economic Indicators for Greenland 2014

Not Available
* Source: IMF
Aggregate Indicators for Greenland
Indicators
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Greenland
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Greenland
  Natural Resources, Agricultural Products, Land Use and Water Use for Greenland
  Nationality, Ethnic Groups, Languages and Religions for Greenland
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Greenland
  Age Structure, Median Age, Gender and Urbanization for Greenland
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Greenland
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Greenland
  HIV, AIDS and Other Major Infectious Disease Rates for Greenland
  Literacy Rate, Educational Expenditure and School Life Expectancy for Greenland
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Greenland
  Industries and Industrial Growth Production Rate for Greenland
  Labor Force by Occupation for Greenland
  Poverty Line, Gini Index, Household Income and Consumption for Greenland
  National Budget and Public Debt for Greenland
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Greenland
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Greenland
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Greenland
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Greenland
  Foreign Exchange Reserves and Gold Reserves for Greenland
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Greenland
  Exchange Rate Statistics for Greenland
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Greenland
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Greenland
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Greenland
  Television and Radio Statistics (TV Stats, Radio Stats) for Greenland
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Greenland
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Greenland
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Greenland
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Greenland
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Greenland
* Source: CIA
Internet Indicators for Greenland
Indicators
  Number of Internet Users for Greenland
  Internet Penetration Rate for Greenland
  Number of Facebook Accounts for Greenland
  Facebook Penetration Rate for Greenland
* Source: IWS