[ Nominal GDP in billions of USD ]
Year -
$3.33 billions
Greenland GDP expanded from 1970 to 2023, increasing from $0.07 billion to $3.33 billion.The compound annual growth rate (CAGR) averaged 7.56% over the period. The economy recorded its peak level in 2023 and its lowest level in 1970. Growth volatility remained high. The maximum drawdown reached 20.83%, indicating the largest cyclical decline from peak levels. The country experienced 11 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2023 | 2023 |
| Latest GDP | $ 3.33 Billions | $ 4.48 Int Billions |
| Growth (YoY) | 5.526% | 4.496% |
| Net Change vs Previous Year | $ 0.17 Billion | $ 0.19 Int Billion |
| % of World GDP | 0.00% | 0.00% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - |
| 1965 | - | - | - | - | - | - |
| 1966 | - | - | - | - | - | - |
| 1967 | - | - | - | - | - | - |
| 1968 | - | - | - | - | - | - |
| 1969 | - | - | - | - | - | - |
| 1970 | 0.07 | - | - | - | - | - |
| 1971 | 0.09 | 0.02 | 27.254 % | - | - | - |
| 1972 | 0.11 | 0.02 | 19.934 % | - | - | - |
| 1973 | 0.14 | 0.03 | 32.094 % | - | - | - |
| 1974 | 0.17 | 0.03 | 21.238 % | - | - | - |
| 1975 | 0.21 | 0.04 | 24.289 % | - | - | - |
| 1976 | 0.24 | 0.03 | 14.01 % | - | - | - |
| 1977 | 0.28 | 0.04 | 17.232 % | - | - | - |
| 1978 | 0.36 | 0.07 | 26.116 % | - | - | - |
| 1979 | 0.42 | 0.06 | 18.163 % | - | - | - |
| 1980 | 0.48 | 0.06 | 13.172 % | - | - | - |
| 1981 | 0.44 | -0.04 | -8.466 % | - | - | - |
| 1982 | 0.4 | -0.03 | -7.653 % | - | - | - |
| 1983 | 0.42 | 0.01 | 3.425 % | - | - | - |
| 1984 | 0.38 | -0.04 | -8.845 % | - | - | - |
| 1985 | 0.41 | 0.03 | 8.832 % | - | - | - |
| 1986 | 0.6 | 0.19 | 46.053 % | - | - | - |
| 1987 | 0.79 | 0.18 | 30.575 % | - | - | - |
| 1988 | 0.9 | 0.11 | 14.125 % | - | - | - |
| 1989 | 0.93 | 0.03 | 3.471 % | - | - | - |
| 1990 | 1.02 | 0.09 | 9.591 % | 1.14 | - | - |
| 1991 | 1.02 | 0 | -0.243 % | 1.18 | 0.04 | 3.265 % |
| 1992 | 1.04 | 0.02 | 2.107 % | 1.14 | -0.03 | -2.949 % |
| 1993 | 0.93 | -0.11 | -10.666 % | 1.11 | -0.03 | -2.777 % |
| 1994 | 1.01 | 0.08 | 8.485 % | 1.2 | 0.09 | 8.186 % |
| 1995 | 1.21 | 0.2 | 20.188 % | 1.27 | 0.07 | 5.904 % |
| 1996 | 1.2 | -0.01 | -0.946 % | 1.31 | 0.04 | 3.388 % |
| 1997 | 1.07 | -0.13 | -10.468 % | 1.36 | 0.04 | 3.219 % |
| 1998 | 1.15 | 0.08 | 7.247 % | 1.48 | 0.12 | 8.969 % |
| 1999 | 1.13 | -0.02 | -1.592 % | 1.52 | 0.04 | 2.812 % |
| 2000 | 1.07 | -0.06 | -5.614 % | 1.66 | 0.14 | 9.528 % |
| 2001 | 1.09 | 0.02 | 1.699 % | 1.72 | 0.06 | 3.549 % |
| 2002 | 1.17 | 0.08 | 7.638 % | 1.73 | 0.01 | 0.568 % |
| 2003 | 1.56 | 0.39 | 33.326 % | 1.85 | 0.11 | 6.492 % |
| 2004 | 1.82 | 0.26 | 16.92 % | 2.03 | 0.18 | 9.781 % |
| 2005 | 1.85 | 0.03 | 1.498 % | 2.19 | 0.17 | 8.279 % |
| 2006 | 2.01 | 0.16 | 8.828 % | 2.39 | 0.19 | 8.811 % |
| 2007 | 2.25 | 0.24 | 11.758 % | 2.51 | 0.12 | 5.125 % |
| 2008 | 2.5 | 0.25 | 11.08 % | 2.72 | 0.21 | 8.212 % |
| 2009 | 2.53 | 0.03 | 1.235 % | 2.76 | 0.04 | 1.488 % |
| 2010 | 2.5 | -0.03 | -1.059 % | 2.84 | 0.08 | 2.972 % |
| 2011 | 2.68 | 0.18 | 7.243 % | 2.88 | 0.04 | 1.556 % |
| 2012 | 2.61 | -0.07 | -2.786 % | 2.98 | 0.09 | 3.282 % |
| 2013 | 2.68 | 0.08 | 2.884 % | 2.99 | 0.01 | 0.382 % |
| 2014 | 2.84 | 0.16 | 5.852 % | 3.18 | 0.2 | 6.566 % |
| 2015 | 2.5 | -0.34 | -12.067 % | 3.13 | -0.05 | -1.625 % |
| 2016 | 2.71 | 0.21 | 8.324 % | 3.31 | 0.18 | 5.677 % |
| 2017 | 2.85 | 0.14 | 5.337 % | 3.37 | 0.06 | 1.844 % |
| 2018 | 3.06 | 0.2 | 7.16 % | 3.46 | 0.09 | 2.721 % |
| 2019 | 3 | -0.06 | -1.913 % | 3.61 | 0.15 | 4.351 % |
| 2020 | 3.09 | 0.09 | 3.08 % | 3.66 | 0.05 | 1.4 % |
| 2021 | 3.29 | 0.2 | 6.601 % | 3.93 | 0.26 | 7.16 % |
| 2022 | 3.15 | -0.14 | -4.288 % | 4.29 | 0.36 | 9.277 % |
| 2023 | 3.33 | 0.17 | 5.526 % | 4.48 | 0.19 | 4.496 % |
| 2024 | - | - | - | - | - | - |
Between 1970 to 2023, Greenland experienced the following economic phases:
The most remarkable growth occurred in 1986 with an increase of 46.053%, while the largest decline was in 2015 at -12.067%.