Industry (including construction), value added in Greenland
Greenland: Industry (including construction), value added was 495.03 million constant 2015 US$ in 2023. ▲ Rising
Industry (including construction), value added in Greenland, 2003–2023
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant 2015 US$.
Analysis
Greenland recorded 495.03 million constant 2015 US$ for industry (including construction), value added in 2023.
The figure is down 1.3% on the previous year and up 36.3% over ten years.
Over the whole period, industry (including construction), value added in Greenland peaked at 559.18 million constant 2015 US$ in 2020 and was at its lowest, 207.62 million constant 2015 US$, in 2003.
That places Greenland 168th out of 196 countries with data for 2023, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 21 years of available data.
Industry (including construction), value added in Greenland, year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 2003 | 207.62 million constant 2015 US$ | — |
| 2004 | 246.31 million constant 2015 US$ | +18.6% |
| 2005 | 269.24 million constant 2015 US$ | +9.3% |
| 2006 | 240.61 million constant 2015 US$ | -10.6% |
| 2007 | 273.83 million constant 2015 US$ | +13.8% |
| 2008 | 330.51 million constant 2015 US$ | +20.7% |
| 2009 | 320.96 million constant 2015 US$ | -2.9% |
| 2010 | 331.74 million constant 2015 US$ | +3.4% |
| 2011 | 341.79 million constant 2015 US$ | +3.0% |
| 2012 | 372.27 million constant 2015 US$ | +8.9% |
| 2013 | 363.23 million constant 2015 US$ | -2.4% |
| 2014 | 389.13 million constant 2015 US$ | +7.1% |
| 2015 | 426.02 million constant 2015 US$ | +9.5% |
| 2016 | 463.07 million constant 2015 US$ | +8.7% |
| 2017 | 449.50 million constant 2015 US$ | -2.9% |
| 2018 | 442.40 million constant 2015 US$ | -1.6% |
| 2019 | 462.18 million constant 2015 US$ | +4.5% |
| 2020 | 559.18 million constant 2015 US$ | +21.0% |
| 2021 | 493.59 million constant 2015 US$ | -11.7% |
| 2022 | 501.52 million constant 2015 US$ | +1.6% |
| 2023 | 495.03 million constant 2015 US$ | -1.3% |
Greenland compared with similar countries
- Greenland's 495.03 million constant 2015 US$ is below the median for high income countries, which is 27.07 billion constant 2015 US$, 2% of the median. (69 countries reporting)
- Greenland's 495.03 million constant 2015 US$ is below the median for Europe & Central Asia, which is 21.78 billion constant 2015 US$, 2% of the median. (53 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 269.87 million constant 2015 US$ | 207.62 million constant 2015 US$ | 330.51 million constant 2015 US$ | 7 |
| 2010s | 404.13 million constant 2015 US$ | 331.74 million constant 2015 US$ | 463.07 million constant 2015 US$ | 10 |
| 2020s | 512.33 million constant 2015 US$ | 493.59 million constant 2015 US$ | 559.18 million constant 2015 US$ | 4 |
Countries ranked near Greenland
- 165 Maldives 558.73 million constant 2015 US$ compare
- 166 Central African Republic 557.12 million constant 2015 US$ compare
- 167 Isle of Man 528.64 million constant 2015 US$ compare
- 169 Cayman Islands 450.52 million constant 2015 US$ compare
- 170 Gambia 448.58 million constant 2015 US$ compare
- 171 Andorra 448.53 million constant 2015 US$ compare
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 industry (including construction), value added in Greenland?
- Industry (including construction), value added in Greenland was 495.03 million constant 2015 US$ in 2023, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest industry (including construction), value added recorded in Greenland?
- The highest recorded value was 559.18 million constant 2015 US$ in 2020.
- What is the lowest industry (including construction), value added recorded in Greenland?
- The lowest recorded value was 207.62 million constant 2015 US$ in 2003.
- How does Greenland rank for industry (including construction), value added?
- Greenland ranks 168th out of 196 countries with data for 2023.
- Is industry (including construction), value added rising or falling in Greenland?
- Over the last ten years it is up 36.3%. 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 Offices (NSOs), published as part of Industry (including construction), value added (constant 2015 US$). Statizoid updates them automatically from the source API.
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About this data
Industry (including construction) corresponds to ISIC (Rev.4) divisions 05-43. It is comprised of mining, manufacturing, construction, electricity, water, and gas industries. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.