External balance on goods and services in Greenland
Greenland: External balance on goods and services was -10.3% 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 % of GDP.
Analysis
In 2023, external balance on goods and services in Greenland stood at -10.3%.
Compared with earlier readings it is up 12.7% on the previous year and up 49.8% over ten years.
Over the whole period, external balance on goods and services in Greenland peaked at -0.9% in 2018 and was at its lowest, -54.6%, in 2011.
Greenland ranks 131st 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 | % of GDP | Change |
|---|---|---|
| 2003 | -11.7% | — |
| 2004 | -9.6% | -18.2% |
| 2005 | -17.6% | +83.6% |
| 2006 | -14.1% | -19.9% |
| 2007 | -22.6% | +60.2% |
| 2008 | -33.4% | +48.1% |
| 2009 | -24.3% | -27.3% |
| 2010 | -42.4% | +74.4% |
| 2011 | -54.6% | +28.8% |
| 2012 | -26.0% | -52.4% |
| 2013 | -20.5% | -21.0% |
| 2014 | -10.1% | -50.5% |
| 2015 | -7.9% | -21.7% |
| 2016 | -4.3% | -45.8% |
| 2017 | -2.8% | -34.5% |
| 2018 | -0.9% | -69.3% |
| 2019 | -10.1% | +1064.8% |
| 2020 | -10.7% | +6.2% |
| 2021 | -15.6% | +45.2% |
| 2022 | -11.8% | -24.3% |
| 2023 | -10.3% | -12.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -19.0% | -33.4% | -9.6% | 7 |
| 2010s | -18.0% | -54.6% | -0.9% | 10 |
| 2020s | -12.1% | -15.6% | -10.3% | 4 |
Countries ranked near Greenland
More economy & growth data for Greenland
- General government final consumption expenditure (constant 2015 US$) 21,468 constant 2015 US$ per person (2023)
- Gross national expenditure (current US$), annual growth rate 4.12 % change on previous year (2023)
- Gross national expenditure (current US$), per unit of GDP 1.1 current US$ per US$ of GDP (2023)
- Gross national expenditure (current US$), per capita 64,520 current US$ per person (2023)
- Gross national expenditure (current LCU), annual growth rate 1.37 % change on previous year (2023)
- Households and NPISHs Final consumption expenditure (current US$) 5.29 % change on previous year (2023)
- Gross national expenditure (current LCU), per unit of GDP 7.6 current LCU per US$ of GDP (2023)
- Gross national expenditure (current LCU), per capita 444,525 current LCU per person (2023)
- Gross national expenditure (constant 2015 US$), annual growth rate -0.3182 % change on previous year (2023)
- Exports of goods and services (current LCU), annual growth rate 2.77 % change on previous year (2023)
Frequently asked questions
- What is external balance on goods and services in Greenland?
- External balance on goods and services in Greenland was -10.3% 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 -0.9% in 2018.
- What is the lowest external balance on goods and services recorded in Greenland?
- The lowest recorded value was -54.6% in 2011.
- How does Greenland rank for external balance on goods and services?
- Greenland ranks 131st 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 49.8%. 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 (% of GDP). 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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.