Gross capital formation in Greenland
Greenland: Gross capital formation was 36.0% in 2023. ▲ Rising
Gross capital formation in Greenland, 2003–2023
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
In 2023, gross capital formation in Greenland stood at 36.0%.
The figure is down 4.9% on the previous year and up 19.6% over ten years.
Over the whole period, gross capital formation in Greenland peaked at 64.0% in 2011 and was at its lowest, 16.3%, in 2004.
That places Greenland 12th out of 187 countries with data for 2023, putting it in the top 10%.
The long-run direction has been consistently rising across the 21 years of available data.
Gross capital formation in Greenland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2003 | 19.4% | — |
| 2004 | 16.3% | -15.7% |
| 2005 | 24.2% | +48.1% |
| 2006 | 23.1% | -4.2% |
| 2007 | 30.5% | +31.8% |
| 2008 | 40.3% | +32.1% |
| 2009 | 32.2% | -20.1% |
| 2010 | 52.4% | +62.5% |
| 2011 | 64.0% | +22.3% |
| 2012 | 37.7% | -41.1% |
| 2013 | 30.1% | -20.1% |
| 2014 | 22.6% | -24.9% |
| 2015 | 24.0% | +6.3% |
| 2016 | 24.5% | +1.9% |
| 2017 | 23.6% | -3.6% |
| 2018 | 21.7% | -7.9% |
| 2019 | 31.3% | +43.8% |
| 2020 | 33.0% | +5.6% |
| 2021 | 37.1% | +12.4% |
| 2022 | 37.8% | +2.0% |
| 2023 | 36.0% | -4.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 26.6% | 16.3% | 40.3% | 7 |
| 2010s | 33.2% | 21.7% | 64.0% | 10 |
| 2020s | 36.0% | 33.0% | 37.8% | 4 |
Countries ranked near Greenland
More economy & growth data for Greenland
- Gross fixed capital formation (current US$), annual growth rate 0.3077 % change on previous year (2023)
- Imports of goods and services (current US$), per unit of GDP 0.5109 current US$ per US$ of GDP (2023)
- Gross fixed capital formation (constant 2015 US$), per unit of GDP 0.3149 constant 2015 US$ per US$ of GDP (2023)
- Gross fixed capital formation (constant 2015 US$), annual growth rate -3.77 % change on previous year (2023)
- Gross fixed capital formation (current LCU), per capita 139,801 current LCU per person (2023)
- Gross fixed capital formation (current LCU), per unit of GDP 2.39 current LCU per US$ of GDP (2023)
- Gross fixed capital formation (current US$), per capita 20,291 current US$ per person (2023)
- Gross fixed capital formation (current US$), per unit of GDP 0.3469 current US$ per US$ of GDP (2023)
- Exports of goods and services (current LCU), per unit of GDP 2.81 current LCU per US$ of GDP (2023)
- Exports of goods and services (current LCU), per capita 164,435 current LCU per person (2023)
Frequently asked questions
- What is gross capital formation in Greenland?
- Gross capital formation in Greenland was 36.0% 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 64.0% in 2011.
- What is the lowest gross capital formation recorded in Greenland?
- The lowest recorded value was 16.3% in 2004.
- How does Greenland rank for gross capital formation?
- Greenland ranks 12th 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 19.6%. 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 (% of GDP). 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 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.