| People | Greenland |
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Economy - overview:
|
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):
|
$1.1 billion (2001 est.) |
GDP (official exchange rate):
|
$1.7 billion (2005) |
GDP - real growth rate:
|
2% (2005 est.) |
GDP - per capita (PPP):
|
$20,000 (2001 est.) |
GDP - composition by sector:
|
agriculture: NA%
industry: NA%
services: NA% |
Investment (gross fixed):
|
void |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
1% (2005 est.) |
Labor force:
|
32,120 (2004) |
Labor force participation rate:
|
57.03 % of population |
Labor force - by occupation:
|
void |
Unemployment rate:
|
9.3% (2005 est.) |
Budget:
|
revenues: $1.36 billion
expenditures: $1.27 billion (2005) |
Budget revenues per capita:
|
24,146 USD per capita |
Public debt:
|
void |
Industries:
|
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:
|
NA% |
Electricity - production:
|
300 million kWh (2005) |
Electricity - production per capita:
|
5,327 kWh per capita |
Electricity - consumption:
|
279 million kWh (2005) |
Electricity - consumption - per capita:
|
4,954 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
0 bbl/day (2005 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
3,880 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
25.14 bbl/year per capita |
Oil - exports:
|
149.1 bbl/day (2004) |
Oil - imports:
|
4,013 bbl/day (2004) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
forage crops, garden and greenhouse vegetables; sheep, reindeer; fish |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
|
$480 million f.o.b. (2006) |
Exports per capita:
|
8,522 USD per capita |
Exports - commodities:
|
fish and fish products 94% (prawns 63%) (2001 est.) |
Exports - partners:
|
Denmark 67.1%, Japan 12.1%, China 5.6% (2006) |
Imports:
|
$712 million c.i.f. (2006) |
Imports per capita:
|
12,641 USD per capita |
Imports - commodities:
|
machinery and transport equipment, manufactured goods, food, petroleum products |
Imports - partners:
|
Denmark 69.9%, Sweden 16.3%, Norway 3.7% (2006) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$25 million (1999) |
Debt - external - per capita:
|
444 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$512 million; note - subsidy from Denmark (2005) |
Economic aid - recipient per capita:
|
9,090 USD per capita |
Currency (code):
|
Danish krone (DKK) |
Exchange rates:
|
Danish kroner per US dollar - 5.4797 (2007), 5.9468 (2006), 5.9969 (2005), 5.9911 (2004), 6.5877 (2003) |
Fiscal year:
|
calendar year |
|
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