| Economy - overview | The economy remains critically dependent on exports of fish and a substantial subsidy from the Danish Government, which supplies about half of government revenues. The public sector, including publicly-owned enterprises and the municipalities, plays the dominant role in the economy. Several interesting hydrocarbon and mineral exploration activities are ongoing and in 2007 a US firm signed an agreement with the Greenland Home Rule government to study the feasibility of building a multi-billion dollar aluminum smelter and hydropower plant. |
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| GDP - real growth rate | 2% (2005 est.) |
|
| GDP - composition by sector | agriculture: NA%
industry: NA%
services: NA% |
|
| Population below poverty line | NA% |
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Household income or consumption
by percentage share | lowest 10%: NA%
highest 10%: NA% |
|
| Labor force | 32,120 (2004) |
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| Unemployment rate | 9.3% (2005 est.) |
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| Budget | revenues: $1.36 billion
expenditures: $1.27 billion (2005) |
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| Industries | fish processing (mainly shrimp and Greenland halibut); gold, niobium, tantalite, uranium, iron and diamond mining; handicrafts, hides and skins, small shipyards |
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| Industrial production growth rate | NA% |
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Electricity -
production | 305 million kWh (2006 est.) |
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Electricity -
production by source | fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0%
note: Greenland is shifting its electricity production from fossil fuel to hydropower production (2001) |
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Electricity -
consumption | 283.7 million kWh (2006 est.) |
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Electricity -
exports | 0 kWh (2007 est.) |
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Electricity -
imports | 0 kWh (2007 est.) |
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| Oil - production | 0 bbl/day (2007 est.) |
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| Oil - consumption | 3,927 bbl/day (2006 est.) |
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| Oil - exports | 150 bbl/day (2005) |
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| Oil - imports | 4,089 bbl/day (2005) |
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| Oil - proved reserves | 0 bbl (1 January 2006 est.) |
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| Agriculture - products | forage crops, garden and greenhouse vegetables; sheep, reindeer; fish |
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| Exports | $480 million f.o.b. (2006) |
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| Exports - commodities | fish and fish products 94% (prawns 63%) (2001 est.) |
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| Exports - partners | Denmark 61.8%, Japan 9.9%, Canada 7.3%, China 5.8% (2007) |
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| Imports | $712 million c.i.f. (2006) |
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| Imports - commodities | machinery and transport equipment, manufactured goods, food, petroleum products |
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| Imports - partners | Denmark 68.1%, Sweden 19.3%, Canada 2.5% (2007) |
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| Debt - external | $25 million (1999) |
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| Economic aid - recipient | $512 million; note - subsidy from Denmark (2005) |
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| Currency code | DKK |
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| Exchange rates | Danish kroner (DKK) per US dollar - 5.0236 (2008 est.), 5.4797 (2007), 5.9468 (2006), 5.9969 (2005), 5.9911 (2004) |
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| Fiscal year | calendar year |
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