GDP growth in Greenland
Greenland: GDP growth was 0.9% in 2023. ◆ Volatile
GDP growth in Greenland, 1971–2023
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in annual %.
Analysis
The most recent figure for gdp growth in Greenland is 0.9%, measured in 2023.
That represents a change of down 56.8% on the previous year and up 166.7% over ten years.
Over the whole period, gdp growth in Greenland peaked at 13.1% in 1971 and was at its lowest, -11.7%, in 1990.
Greenland ranks 177th of 213 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP growth in Greenland, year by year
| Year | annual % | Change |
|---|---|---|
| 1971 | 13.1% | — |
| 1972 | 6.2% | -52.7% |
| 1973 | 6.8% | +10.2% |
| 1974 | 5.7% | -16.2% |
| 1975 | 0.6% | -88.7% |
| 1976 | 6.0% | +822.1% |
| 1977 | 8.8% | +48.0% |
| 1978 | 6.0% | -31.8% |
| 1979 | 4.9% | -19.2% |
| 1980 | 8.7% | +78.5% |
| 1981 | 0.7% | -92.3% |
| 1982 | -4.4% | -764.3% |
| 1983 | 3.5% | -178.2% |
| 1984 | -5.2% | -249.8% |
| 1985 | 3.7% | -170.6% |
| 1986 | 7.1% | +94.1% |
| 1987 | 5.5% | -22.3% |
| 1988 | 5.6% | +1.6% |
| 1989 | 6.7% | +18.8% |
| 1990 | -11.7% | -276.0% |
| 1991 | -0.1% | -99.0% |
| 1992 | -5.1% | +4405.1% |
| 1993 | -5.0% | -1.6% |
| 1994 | 5.9% | -217.8% |
| 1995 | 3.7% | -37.1% |
| 1996 | 1.5% | -59.0% |
| 1997 | 1.5% | -4.0% |
| 1998 | 7.8% | +428.1% |
| 1999 | 1.4% | -82.2% |
| 2000 | 7.1% | +415.4% |
| 2001 | 1.3% | -82.1% |
| 2002 | -1.0% | -176.5% |
| 2003 | 4.4% | -556.2% |
| 2004 | 6.9% | +55.9% |
| 2005 | 5.0% | -27.8% |
| 2006 | 5.6% | +11.4% |
| 2007 | 2.4% | -57.7% |
| 2008 | 6.2% | +162.1% |
| 2009 | 0.9% | -86.0% |
| 2010 | 1.7% | +100.5% |
| 2011 | -0.5% | -128.6% |
| 2012 | 1.4% | -380.8% |
| 2013 | -1.3% | -193.1% |
| 2014 | 4.7% | -465.3% |
| 2015 | -2.5% | -153.3% |
| 2016 | 4.7% | -285.1% |
| 2017 | 0.1% | -98.9% |
| 2018 | 0.6% | +1081.7% |
| 2019 | 2.8% | +354.6% |
| 2020 | 0.3% | -91.1% |
| 2021 | 1.6% | +551.6% |
| 2022 | 2.0% | +22.7% |
| 2023 | 0.9% | -56.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.5% | 0.6% | 13.1% | 9 |
| 1980s | 3.2% | -5.2% | 8.7% | 10 |
| 1990s | -0.0% | -11.7% | 7.8% | 10 |
| 2000s | 3.9% | -1.0% | 7.1% | 10 |
| 2010s | 1.2% | -2.5% | 4.7% | 10 |
| 2020s | 1.2% | 0.3% | 2.0% | 4 |
Countries ranked near Greenland
- 174 Republic of Korea 1.0% compare
- 175 Russian Federation 1.0% compare
- 176 Belgium 1.0% compare
- 178 Faroe Islands 0.8% compare
- 179 France 0.8% compare
- 180 Slovakia 0.8% compare
More economy & growth data for Greenland
- Domestic currency per Special drawing rights (End-of-period (EoP)) 9.48 (2016)
- Net primary income (Net income from abroad) (current LCU), annual 46.56 % change on previous year (2007)
- Taxes less subsidies on products (current US$), per unit of GDP 0.0401 current US$ per US$ of GDP (2023)
- Taxes less subsidies on products (current US$), per capita 2,345 current US$ per person (2023)
- Taxes less subsidies on products (current LCU), annual growth rate 4.97 % change on previous year (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)
- Manufacturing value added to gdp, per capita 0 units per person (2023)
- Gdp worldbank constant usd, per capita 49,930 units per person (2023)
Frequently asked questions
- What is gdp growth in Greenland?
- Gdp growth in Greenland was 0.9% in 2023, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gdp growth recorded in Greenland?
- The highest recorded value was 13.1% in 1971.
- What is the lowest gdp growth recorded in Greenland?
- The lowest recorded value was -11.7% in 1990.
- How does Greenland rank for gdp growth?
- Greenland ranks 177th out of 213 countries with data for 2023.
- Is gdp growth rising or falling in Greenland?
- Over the last ten years it is up 166.7%. 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 GDP growth (annual %). Statizoid updates them automatically from the source API.
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About this data
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.