Gross capital formation in Greenland
Greenland: Gross capital formation was 8.25 billion current LCU in 2023. ▲ Rising
Gross capital formation in Greenland, 2003–2023
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
The most recent figure for gross capital formation in Greenland is 8.25 billion current LCU, measured in 2023.
Compared with earlier readings it is down 2.3% on the previous year and up 81.8% over ten years.
Over the whole period, gross capital formation in Greenland peaked at 9.22 billion current LCU in 2011 and was at its lowest, 1.78 billion current LCU, in 2004.
Greenland ranks 154th of 187 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 21 years of available data.
Gross capital formation in Greenland, year by year
| Year | current LCU | Change |
|---|---|---|
| 2003 | 1.99 billion current LCU | — |
| 2004 | 1.78 billion current LCU | -10.4% |
| 2005 | 2.68 billion current LCU | +50.4% |
| 2006 | 2.77 billion current LCU | +3.4% |
| 2007 | 3.74 billion current LCU | +34.8% |
| 2008 | 5.13 billion current LCU | +37.5% |
| 2009 | 4.37 billion current LCU | -14.9% |
| 2010 | 7.37 billion current LCU | +68.7% |
| 2011 | 9.22 billion current LCU | +25.2% |
| 2012 | 5.69 billion current LCU | -38.3% |
| 2013 | 4.54 billion current LCU | -20.3% |
| 2014 | 3.60 billion current LCU | -20.6% |
| 2015 | 4.04 billion current LCU | +12.1% |
| 2016 | 4.46 billion current LCU | +10.5% |
| 2017 | 4.45 billion current LCU | -0.4% |
| 2018 | 4.20 billion current LCU | -5.7% |
| 2019 | 6.25 billion current LCU | +49.0% |
| 2020 | 6.67 billion current LCU | +6.8% |
| 2021 | 7.68 billion current LCU | +15.1% |
| 2022 | 8.44 billion current LCU | +9.8% |
| 2023 | 8.25 billion current LCU | -2.3% |
Greenland compared with similar countries
- Greenland's 8.25 billion current LCU is below the median for high income countries, which is 146.46 billion current LCU, 6% of the median. (67 countries reporting)
- Greenland's 8.25 billion current LCU is below the median for Europe & Central Asia, which is 155.88 billion current LCU, 5% of the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.21 billion current LCU | 1.78 billion current LCU | 5.13 billion current LCU | 7 |
| 2010s | 5.38 billion current LCU | 3.60 billion current LCU | 9.22 billion current LCU | 10 |
| 2020s | 7.76 billion current LCU | 6.67 billion current LCU | 8.44 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 gross capital formation in Greenland?
- Gross capital formation in Greenland was 8.25 billion current LCU in 2023, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gross capital formation recorded in Greenland?
- The highest recorded value was 9.22 billion current LCU in 2011.
- What is the lowest gross capital formation recorded in Greenland?
- The lowest recorded value was 1.78 billion current LCU in 2004.
- How does Greenland rank for gross capital formation?
- Greenland ranks 154th out of 187 countries with data for 2023.
- Is gross capital formation rising or falling in Greenland?
- Over the last ten years it is up 81.8%. 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 Gross capital formation (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 21 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Gross capital formation includes acquisitions less disposals of produced assets for purposes of fixed capital formation, inventories or valuables. 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.