| Economy | 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 and in 2007 a US firm signed an agreement with the Greenland Home Rule government to study the feasibility of building a multi-billion dollar aluminum smelter and hydropower plant. |
GDP (purchasing power parity):
|
$1.1 billion (2001 est.) |
GDP - per capita (PPP):
|
$20,000 (2001 est.) |
GDP (official exchange rate):
|
$1.7 billion (2005) |
GDP - real growth rate:
|
2% (2005 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.) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
void |
Stock of money:
|
void |
Stock of money - per capita:
|
void |
Stock of quasi money:
|
void |
Stock of quasi money - per capita:
|
void |
Stock of domestic credit:
|
void |
Stock of domestic credit - per capita:
|
void |
Labor force:
|
32,120 (2004) |
Labor force participation rate:
|
55.76 % 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:
|
23,612 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:
|
305 million kWh (2006 est.) |
Electricity - production per capita:
|
5,296 kWh per capita |
Electricity - consumption:
|
283.7 million kWh (2006 est.) |
Electricity - consumption - per capita:
|
4,926 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
3,927 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
24.88 bbl/year per capita |
Oil - exports:
|
149.5 bbl/day (2005) |
Oil - imports:
|
4,089 bbl/day (2005) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
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:
|
8,334 USD per capita |
Exports - commodities:
|
fish and fish products 94% (prawns 63%) (2001 est.) |
Exports - partners:
|
Denmark 61.8%, Japan 9.9%, Canada 7.3%, China 5.8% (2007) |
Imports:
|
$712 million c.i.f. (2006) |
Imports per capita:
|
12,362 USD per capita |
Imports - commodities:
|
machinery and transport equipment, manufactured goods, food, petroleum products |
Imports - partners:
|
Denmark 68.1%, Sweden 19.3%, Canada 2.5% (2007) |
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:
|
435 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$512 million; note - subsidy from Denmark (2005) |
Economic aid - recipient per capita:
|
8,889 USD per capita |
Currency (code):
|
Danish krone (DKK) |
Exchange rates:
|
Danish kroner (DKK) per US dollar - 5.0236 (2008 est.), 5.4797 (2007), 5.9468 (2006), 5.9969 (2005), 5.9911 (2004) |
Fiscal year:
|
calendar year |
|
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