Economy of Greenland

The economy of the Greenland is very strongly dependant on exports of the fishing and the assistances of the Kingdom of the Denmark to which it belongs.

General data

Greenland has a basement rich in hydrocarbons, mainly in the west of the island. These resources are however at present unexploited because of the high cost of the establishment and the weakness of the local infrastructures. Apart from fishing, tourism is also a sector prevailing of Greenland although this one remains very limited because of the high costs related to its development and of the short summer season.

Figures

GDP: 1,1 billion dollar (2001).
Growth rate: 1,8% (2001).
PIB/hab. : 19.600 dollars.
Active population: 24.500
Unemployment rate: 10%
Rate of inflation: 1.6%
Exports: 480 million dollars (Denmark: 62,5%; Japan: 12,3%; China: 5,3%)
Imports: 601 million dollars (Denmark: 66,8%; Sweden: 19,3%; Ireland: 3,6%)

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