External balance on goods and services in Greenland
Greenland: External balance on goods and services was -2.36 billion current LCU in 2023. ◆ Volatile
External balance on goods and services in Greenland, 2003–2023
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
Greenland recorded -2.36 billion current LCU for external balance on goods and services in 2023.
That represents a change of up 10.3% on the previous year and up 23.7% over ten years.
Over the whole period, external balance on goods and services in Greenland peaked at -167.40 million current LCU in 2018 and was at its lowest, -7.86 billion current LCU, in 2011.
Greenland ranks 98th of 193 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Greenland, year by year
| Year | current LCU | Change |
|---|---|---|
| 2003 | -1.20 billion current LCU | — |
| 2004 | -1.05 billion current LCU | -13.0% |
| 2005 | -1.95 billion current LCU | +86.5% |
| 2006 | -1.69 billion current LCU | -13.6% |
| 2007 | -2.76 billion current LCU | +63.8% |
| 2008 | -4.26 billion current LCU | +54.1% |
| 2009 | -3.30 billion current LCU | -22.6% |
| 2010 | -5.96 billion current LCU | +81.0% |
| 2011 | -7.86 billion current LCU | +31.8% |
| 2012 | -3.92 billion current LCU | -50.1% |
| 2013 | -3.09 billion current LCU | -21.2% |
| 2014 | -1.62 billion current LCU | -47.7% |
| 2015 | -1.34 billion current LCU | -17.5% |
| 2016 | -785.00 million current LCU | -41.2% |
| 2017 | -531.50 million current LCU | -32.3% |
| 2018 | -167.40 million current LCU | -68.5% |
| 2019 | -2.02 billion current LCU | +1106.8% |
| 2020 | -2.17 billion current LCU | +7.3% |
| 2021 | -3.22 billion current LCU | +48.7% |
| 2022 | -2.63 billion current LCU | -18.5% |
| 2023 | -2.36 billion current LCU | -10.3% |
Greenland compared with similar countries
- Greenland's -2.36 billion current LCU is below the median for high income countries, which is 3.18 billion current LCU. (72 countries reporting)
- Greenland's -2.36 billion current LCU is below the median for Europe & Central Asia, which is 96.00 million current LCU. (52 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services in Greenland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2019 | -1106.8% | -167.40 million current LCU | -2.02 billion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -2.31 billion current LCU | -4.26 billion current LCU | -1.05 billion current LCU | 7 |
| 2010s | -2.73 billion current LCU | -7.86 billion current LCU | -167.40 million current LCU | 10 |
| 2020s | -2.60 billion current LCU | -3.22 billion current LCU | -2.17 billion current LCU | 4 |
Countries ranked near Greenland
More economy & growth data for Greenland
- Final consumption expenditure (current LCU), per capita 299,448 current LCU per person (2023)
- Gross national expenditure (current US$), annual growth rate 4.12 % change on previous year (2023)
- Final consumption expenditure (constant 2015 US$), per capita 40,333 constant 2015 US$ per person (2023)
- Final consumption expenditure (constant 2015 US$), per unit of GDP 0.6895 constant 2015 US$ per US$ of GDP (2023)
- Final consumption expenditure (constant 2015 US$), annual growth rate 1.24 % change on previous year (2023)
- Final consumption expenditure (current LCU), annual growth rate 3.24 % change on previous year (2023)
- Final consumption expenditure (current US$), per unit of GDP 0.743 current US$ per US$ of GDP (2023)
- Final consumption expenditure (current US$), per capita 43,463 current US$ per person (2023)
- Gross national expenditure (current US$), per unit of GDP 1.1 current US$ per US$ of GDP (2023)
- Final consumption expenditure (current LCU), per unit of GDP 5.12 current LCU 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 -2.36 billion current 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 -167.40 million current LCU in 2018.
- What is the lowest external balance on goods and services recorded in Greenland?
- The lowest recorded value was -7.86 billion current LCU in 2011.
- How does Greenland rank for external balance on goods and services?
- Greenland ranks 98th out of 193 countries with data for 2023.
- Is external balance on goods and services rising or falling in Greenland?
- Over the last ten years it is up 23.7%. The long-run trend across the full record is volatile.
- 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 (current 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 current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.