Services, value added in Greenland
Greenland: Services, value added was 10.29 billion constant LCU in 2023. ▲ Rising
Services, value added in Greenland, 2003–2023
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant LCU.
Analysis
In 2023, services, value added in Greenland stood at 10.29 billion constant LCU. That is the highest value across all 21 years on record.
The figure is up 2.2% on the previous year and up 12.4% over ten years.
Over the whole period, services, value added in Greenland peaked at 10.29 billion constant LCU in 2023 and was at its lowest, 7.40 billion constant LCU, in 2003.
Greenland ranks 161st of 199 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 21 years of available data.
Services, value added in Greenland, year by year
| Year | constant LCU | Change |
|---|---|---|
| 2003 | 7.40 billion constant LCU | — |
| 2004 | 7.68 billion constant LCU | +3.9% |
| 2005 | 7.88 billion constant LCU | +2.5% |
| 2006 | 8.44 billion constant LCU | +7.1% |
| 2007 | 8.63 billion constant LCU | +2.2% |
| 2008 | 8.86 billion constant LCU | +2.6% |
| 2009 | 9.22 billion constant LCU | +4.1% |
| 2010 | 9.24 billion constant LCU | +0.2% |
| 2011 | 9.19 billion constant LCU | -0.5% |
| 2012 | 9.18 billion constant LCU | -0.1% |
| 2013 | 9.15 billion constant LCU | -0.3% |
| 2014 | 9.22 billion constant LCU | +0.8% |
| 2015 | 9.26 billion constant LCU | +0.4% |
| 2016 | 9.33 billion constant LCU | +0.8% |
| 2017 | 9.39 billion constant LCU | +0.6% |
| 2018 | 9.64 billion constant LCU | +2.6% |
| 2019 | 9.91 billion constant LCU | +2.8% |
| 2020 | 9.59 billion constant LCU | -3.3% |
| 2021 | 9.85 billion constant LCU | +2.7% |
| 2022 | 10.07 billion constant LCU | +2.3% |
| 2023 | 10.29 billion constant LCU | +2.2% |
Greenland compared with similar countries
- Greenland's 10.29 billion constant LCU is below the median for high income countries, which is 203.18 billion constant LCU, 5% of the median. (70 countries reporting)
- Greenland's 10.29 billion constant LCU is below the median for Europe & Central Asia, which is 280.65 billion constant LCU, 4% of the median. (54 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 8.30 billion constant LCU | 7.40 billion constant LCU | 9.22 billion constant LCU | 7 |
| 2010s | 9.35 billion constant LCU | 9.15 billion constant LCU | 9.91 billion constant LCU | 10 |
| 2020s | 9.95 billion constant LCU | 9.59 billion constant LCU | 10.29 billion constant 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 services, value added in Greenland?
- Services, value added in Greenland was 10.29 billion constant LCU in 2023, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Greenland?
- The highest recorded value was 10.29 billion constant LCU in 2023.
- What is the lowest services, value added recorded in Greenland?
- The lowest recorded value was 7.40 billion constant LCU in 2003.
- How does Greenland rank for services, value added?
- Greenland ranks 161st out of 199 countries with data for 2023.
- Is services, value added rising or falling in Greenland?
- Over the last ten years it is up 12.4%. 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 Services, value added (constant 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
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. 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 varies by country. This series is expressed in local currency units.