Terms of trade adjustment in Greenland
Greenland: Terms of trade adjustment was 2.56 billion constant LCU in 2023. ◆ Volatile
Terms of trade adjustment in Greenland, 2003–2023
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant LCU.
Analysis
The most recent figure for terms of trade adjustment in Greenland is 2.56 billion constant LCU, measured in 2023. That is the highest value across all 21 years on record.
That represents a change of up 2.3% on the previous year and up 460.7% over ten years.
Over the whole period, terms of trade adjustment in Greenland peaked at 2.56 billion constant LCU in 2023 and was at its lowest, -274.61 million constant LCU, in 2008.
Greenland ranks 67th of 178 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Terms of trade adjustment in Greenland, year by year
| Year | constant LCU | Change |
|---|---|---|
| 2003 | 670.08 million constant LCU | — |
| 2004 | 564.28 million constant LCU | -15.8% |
| 2005 | 307.46 million constant LCU | -45.5% |
| 2006 | 433.81 million constant LCU | +41.1% |
| 2007 | 72.22 million constant LCU | -83.4% |
| 2008 | -274.61 million constant LCU | -480.2% |
| 2009 | -44.90 million constant LCU | -83.7% |
| 2010 | 0 constant LCU | -100.0% |
| 2011 | 213.68 million constant LCU | — |
| 2012 | 448.66 million constant LCU | +110.0% |
| 2013 | 456.71 million constant LCU | +1.8% |
| 2014 | 315.01 million constant LCU | -31.0% |
| 2015 | 1.22 billion constant LCU | +286.2% |
| 2016 | 1.80 billion constant LCU | +47.8% |
| 2017 | 2.00 billion constant LCU | +11.0% |
| 2018 | 2.35 billion constant LCU | +17.9% |
| 2019 | 2.20 billion constant LCU | -6.7% |
| 2020 | 1.96 billion constant LCU | -11.0% |
| 2021 | 1.87 billion constant LCU | -4.4% |
| 2022 | 2.50 billion constant LCU | +33.9% |
| 2023 | 2.56 billion constant LCU | +2.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 246.91 million constant LCU | -274.61 million constant LCU | 670.08 million constant LCU | 7 |
| 2010s | 1.10 billion constant LCU | 0 constant LCU | 2.35 billion constant LCU | 10 |
| 2020s | 2.22 billion constant LCU | 1.87 billion constant LCU | 2.56 billion constant LCU | 4 |
Countries ranked near Greenland
- 64 Venezuela, Bolivarian Republic of 3.02 billion constant LCU compare
- 65 Netherlands 2.93 billion constant LCU compare
- 66 Luxembourg 2.91 billion constant LCU compare
- 68 Georgia 2.49 billion constant LCU compare
- 69 Bolivia, Plurinational State of 2.48 billion constant LCU compare
- 70 Switzerland 2.32 billion constant LCU compare
More economy & growth data for Greenland
- GNI (current US$), per capita 36,110 current US$ per person (2007)
- Gdp worldbank constant usd, per unit of GDP 0.8535 units per US$ of GDP (2023)
- Gdp worldbank constant usd, per capita 49,930 units per person (2023)
- GNI (current LCU), per unit of GDP 4.94 current LCU per US$ of GDP (2007)
- Manufacturing value added to gdp, per unit of GDP 0 units per US$ of GDP (2023)
- Manufacturing value added to gdp, per capita 0 units per person (2023)
- GNI (current LCU), annual growth rate 12.79 % change on previous year (2007)
- GNI, Atlas method (current US$), annual growth rate 14.64 % change on previous year (2007)
- GNI, Atlas method (current US$), per unit of GDP 0.8747 current US$ per US$ of GDP (2007)
- GNI, Atlas method (current US$), per capita 34,797 current US$ per person (2007)
Frequently asked questions
- What is terms of trade adjustment in Greenland?
- Terms of trade adjustment in Greenland was 2.56 billion constant LCU in 2023, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest terms of trade adjustment recorded in Greenland?
- The highest recorded value was 2.56 billion constant LCU in 2023.
- What is the lowest terms of trade adjustment recorded in Greenland?
- The lowest recorded value was -274.61 million constant LCU in 2008.
- How does Greenland rank for terms of trade adjustment?
- Greenland ranks 67th out of 178 countries with data for 2023.
- Is terms of trade adjustment rising or falling in Greenland?
- Over the last ten years it is up 460.7%. 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 Terms of trade adjustment (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
The terms of trade adjustment is equal to the capacity to import (current price value of exports of goods and services deflated by the import price index) less exports of goods and services in constant prices. 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.