External balance on goods and services in Greenland
Greenland: External balance on goods and services was -4.64 billion constant LCU in 2023. ▲ Rising
External balance on goods and services in Greenland, 2010–2023
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant LCU.
Analysis
The most recent figure for external balance on goods and services in Greenland is -4.64 billion constant LCU, measured in 2023.
That represents a change of up 3.8% on the previous year and down 37.4% over ten years.
Over the whole period, external balance on goods and services in Greenland peaked at -1.85 billion constant LCU in 2014 and was at its lowest, -7.70 billion constant LCU, in 2011.
Greenland ranks 87th of 161 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 14 years of available data.
External balance on goods and services in Greenland, year by year
| Year | constant LCU | Change |
|---|---|---|
| 2010 | -5.96 billion constant LCU | — |
| 2011 | -7.70 billion constant LCU | +29.1% |
| 2012 | -4.08 billion constant LCU | -47.0% |
| 2013 | -3.38 billion constant LCU | -17.2% |
| 2014 | -1.85 billion constant LCU | -45.3% |
| 2015 | -2.52 billion constant LCU | +36.4% |
| 2016 | -2.59 billion constant LCU | +2.8% |
| 2017 | -2.52 billion constant LCU | -2.9% |
| 2018 | -2.51 billion constant LCU | -0.2% |
| 2019 | -4.06 billion constant LCU | +61.7% |
| 2020 | -4.08 billion constant LCU | +0.4% |
| 2021 | -4.94 billion constant LCU | +21.2% |
| 2022 | -4.82 billion constant LCU | -2.4% |
| 2023 | -4.64 billion constant LCU | -3.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | -3.72 billion constant LCU | -7.70 billion constant LCU | -1.85 billion constant LCU | 10 |
| 2020s | -4.62 billion constant LCU | -4.94 billion constant LCU | -4.08 billion constant LCU | 4 |
Countries ranked near Greenland
- 84 Palestine, State of -3.92 billion constant LCU compare
- 85 Seychelles -4.14 billion constant LCU compare
- 86 Croatia -4.21 billion constant LCU
- 88 Solomon Islands -4.73 billion constant LCU compare
- 89 Bosnia and Herzegovina -5.73 billion constant LCU
- 90 El Salvador -6.80 billion constant LCU compare
More economy & growth data for Greenland
- US dollar per domestic currency (End-of-period (EoP)) 0.1418 (2016)
- Taxes less subsidies on products (current US$), per capita 2,345 current US$ per person (2023)
- Taxes less subsidies on products (current LCU), per unit of GDP 0.2761 current LCU per US$ of GDP (2023)
- Taxes less subsidies on products (current LCU), per capita 16,154 current LCU per person (2023)
- Special drawing rights per domestic currency (End-of-period (EoP)) 0.1055 (2016)
- Domestic currency per Special drawing rights (End-of-period (EoP)) 9.48 (2016)
- Domestic currency per US dollar (End-of-period (EoP)) 7.05 (2016)
- Gdp worldbank constant usd, per capita 49,930 units per person (2023)
- Manufacturing value added to gdp, per capita 0 units per person (2023)
- Manufacturing value added to gdp, per unit of GDP 0 units per US$ of GDP (2023)
Frequently asked questions
- What is external balance on goods and services in Greenland?
- External balance on goods and services in Greenland was -4.64 billion constant LCU in 2023, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Greenland?
- The highest recorded value was -1.85 billion constant LCU in 2014.
- What is the lowest external balance on goods and services recorded in Greenland?
- The lowest recorded value was -7.70 billion constant LCU in 2011.
- How does Greenland rank for external balance on goods and services?
- Greenland ranks 87th out of 161 countries with data for 2023.
- Is external balance on goods and services rising or falling in Greenland?
- Over the last ten years it is down 37.4%. The long-run trend across the full record is rising.
- Where does this Greenland data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (constant LCU). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.