Hans Egede's Hope Colony was organized under the auspices of the Bergen Greenland Company prior to its bankruptcy in 1727; it was succeeded by the merchant Jacob Severin (1733–1749), the General Trade Company (Det almindelige Handelskompagni; 1749–1774), and finally the Royal Greenland Trading Department (KGH; 1776–1908). NOTE: 1) The information regarding Greenland on this page is re-published from the 2020 World Fact Book of the United States Central Intelligence Agency and other sources. GDP per capita: $78,660.96. Purchasing power parity means how much money would be needed to … Current Greenland GDP Per Capita is 39,569.11 USD. GNP per capita, 2005 : 20702 dollars: Greenland - Miscellaneous information. Tourism is limited by the short summers and high costs. Govt type: parliamentary democracy within a constitutional monarchy. There are 24 economies which have per capita income above Int. [18], The fish processing industry is almost entirely centered on Royal Greenland, the world's largest retailer of cold-water shrimp. [32] Nonetheless, all six wells drilled since the 1970s have been dry. Repeated attempts to open trade were opposed on both commercial and humanitarian grounds, although minor reforms in the 1850s and 60s lowered the prices charged to the natives for "luxuries" like sugar and coffee; transferred more of the KGH's profits to local communities; and granted the important Ivigtut cryolite concession to a separate company.[12]. $38,800 (2014 est.) [17] The public sector, including publicly owned enterprises and the municipalities, plays the dominant role in the economy. A third turbine at Buksefjord brought its capacity up to 45 MW in 2008; in 2007, a second, 7.2 MW dam was constructed at Qorlortorsuaq; and in 2010, a third, 15 MW dam was constructed at Sisimiut. The Gross Domestic Product per capita in Iceland was last recorded at 51332.14 US dollars in 2019. Greenland is divided into 5 municipalities (kommuner, sing. Definition: GDP per capita is gross domestic product divided by midyear population. Electricity has historically been generated by oil or diesel power plants, even though there is a large surplus of potential hydropower. kommune). The GDP value of Greenland represents less than 0.01 percent of the world economy. Coal used to be mined at Qullissat but this has been suspended. In alphabetical order, these municipalities are: Avannaata, Kujalleq, Qeqertalik, Qeqqata and Sermersooq. The Gross Domestic Product per capita in Denmark was last recorded at 65147.40 US dollars in 2019. Greenland: 0.03: 1,530: 56,412: Carbon Dioxide (CO2) Emissions per Capita - Worldometer. For rankings regarding wealth, see list of countries by wealth per adult Method. Value & Rank The GDP - Purchasing Power Parity of Greenland is 2.13 ( billions of $) with a global rank of 188. km amongst Cold countries in 2011. When in 2010, Greenland had 116 cases of tuberculosis, that meant the country's rate of TB (200 per 100,000) was on par with Haiti's. The value for GDP per capita (current LCU) in Greenland was 343,950 as of 2018. License: All of Our World in Data is completely open access and all work is licensed under the Creative Commons BY license.You have the permission to use, distribute, and reproduce in any medium, provided the source and authors are credited. Greenland GDP Per Capita chart, historic, and current data. GDP per capita in 2001 was around $20,000. Nonetheless, prospecting takes place under the auspices of NUNAOIL, a partnership between the two governments. In United States, 4.4% of adults are unemployed as of 2017. According to 2005 estimates, inflation in Greenland was around 1 percent. While the Greenland Home Rule Government has primary sovereignty over mineral deposits on the mainland,[29] oil resources are within the domain of the Danish exclusive economic zone. Dataset: Gender Statistics Because of rising oil prices, there is a program to build hydro power plants. Greenland's economy consists of a large public sector and comprehensive foreign trade. GDP per capita, PPP (current international $) GDP per capita (current LCU) GDP per capita, PPP (constant 2017 international $) Inflation, GDP deflator (annual %) Oil rents (% of GDP) Download. Agriculture is of little importance in the economy but due to climate change – in southern Greenland, the growing season averages about three weeks longer than a decade ago[35] – which has enabled expanded production of existing crops. This is a list of countries of the world sorted by their gross domestic product (GDP) per capita.GDP is the worth of all goods and services made in a country in a year. License: All of Our World in Data is completely open access and all work is licensed under the Creative Commons BY license. GDP of Greenland 2011-2018; GDP of the Faroe Islands 2010-2010; Quarterly GDP growth rate in Norway 2018-2020; Real gross domestic product per capita in Macao 2014-2018 Above-ground biomass in forest per hectare, Absolute annual change in primary energy consumption, Age-standardized death rate from cardiovascular diseases, per 100,000 individuals, Alcohol and drug use disorders as a share of total disease burden, Annual percentage change in CO2 emissions, Anxiety disorder DALYs, age-standardized rate, Bipolar disorder DALYs, age-standardized rate, Coverage by protected areas of important sites for mountain biodiversity, DALY rates from communicable, neonatal, maternal & nutritional diseases, DALY rates from non-communicable diseases (NCDs), DALYs (Disability-Adjusted Life Years) from mental and neurodevelopmental disorders, DALYs (Disability-Adjusted Life Years) rate from alcohol and drug use disorders, DALYs from mental health and substance use disorders, DALYs rate from attention deficit/hyperactivity disorder (ADHD), DALYs rate from autistic spectrum disorders, Death rate attributed to an unsafe water source, Death rate from Alzheimer & other dementia, Death rate from ambient particulate air pollution, Death rate from neonatal preterm birth complication, Death rate from suicides (IHME (1990 to 2016)), Death rates from alcohol and drug use disorders, Death rates from mental health and substance use disorders, Death rates from pneumonia in children under 5, Deaths from alcohol and drug use disorders, Deaths from conflict and terrorism (IHME, GBD (1990 to 2016)), Deaths from mental health and substance use disorders, Deaths from natural disasters as a share of total deaths, Depressive disorder DALYs, age-standardized rate, Differences in life expectancy are more regional than national, Disability-adjusted life years (DALYs) from particulate pollution, Disability-adjusted life years: Major depressive disorders, age-standardized rate, Disability-adjusted life years: Mental and substance use disorders, age-standardized rate, Drowning death rates – children under the age of 5, Drug use disorder DALYs, age-standardized rate, Eating disorder DALYs, age-standardized rate, Electricity generation from low-carbon sources, Estimated TB-related deaths among people living with HIV, Expected years of living with disability or disease burden, Exports of goods and services by income group, Fixed broadband subscriptions (per 100 people), Forest area certified under an independently verified certification scheme, Gender parity index (GPI): Literacy rate of young people (ages 15-24), Gross Domestic Product (World Bank (1960 to 2017)). The KGH had long opposed urbanization of the Kalaallit Greenlanders, but during the 1950s and 1960s the Danish government introduced an urbanization and modernization program aimed at consolidating existing settlements. The program was intended to reduce costs, improve access to education and health care, and provide workers for modernized cod fisheries, which were growing rapidly at the time. According to World Bank , France has unfortunately experienced high unemployment rates in recent years: a 10% unemployment rate was recorded for 2014, … Greenland is divided into 5 municipalities (kommuner, sing. Substantial volumes of minerals are now within reach of geological land mapping technologies, according to research conducted by GlobalData, a natural resources business intelligence provider. [14] After World War II, reforms were finally enacted by the Danish Greenland Commission composed of Greenland Provincial Council members and Danish economists. Graph and download economic data for Gross Domestic Product Per Capita for Greenland (NYGDPPCAPCDGRL) from 1970 to 2018 about Greenland, per capita, and GDP. Greenland - GDP per capita growth (annual %) World Data Atlas. [43] In 1998, the remaining herd was sold to the Nuuk municipality and removed through hunting. United States has a GDP per capita of $59,800 as of 2017, while in Greenland, the GDP per capita is $41,800 as of 2015. be 2.1 times more likely to be unemployed. Literacy rate: 100%. Greenland (GRL) , GDP per capita, PPP (constant 2011 international $) indicators data for years 2004 to 2008 [8], GDP per capita is close to the average for European economies, but the economy is critically dependent upon substantial support from the Danish government, which supplies about half the revenues of the Self-rule Government, which in turn employs 10,307 Greenlanders[10] out of 25,620 currently in employment (2015). Greenland. Real Alaska per-capita GDP is 9.36% lower today than 5 years prior in 2014. The state-owned tourism agency Visit Greenland has the web address Greenland.com.[34]. "Employment to population ratio, 15+, total (%) (national estimate)", Main employment for permanent residents by time, industry, gender, age, place of residence, place of birth and inventory, "The Economy of Greenland is Dependent on Fishing", Change and Continuity in Denmark's Greenland Policy, Contemporary Seal Hunting Households Trade Bans and Subsidies, "Hydropower creates clean energy and jobs in Greenland", "Oil in Greenland: Black stuff in green land", "Greenland's broccoli is bad for our health", "Arctic Harvest – Global Warming a Boon for Greenland's Farmers", "Climatic changes and agriculture in Greenland: Plant diseases in potatoes and grass fields", "Trump Is Thinking of Buying a Giant Socialist Island", "Oversigt over får, lam, kvæg, heste og høns fordelt på kommuner – data fra husdyrtælling hos fåreholdere i år 2007, stk", "Success and failure of reindeer herding in Greenland", https://en.wikipedia.org/w/index.php?title=Economy_of_Greenland&oldid=1000774576, Articles with Danish-language sources (da), All articles with specifically marked weasel-worded phrases, Articles with specifically marked weasel-worded phrases from April 2012, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License. The largest island … The gross domestic product per capita, or GDP per capita, is a measure of a country's economic output that accounts for its number of people.It divides the country's gross domestic product by … It is distributed at 220 V and 50 Hz and sockets of Danish type K are used. [38] Expanded production is subsidized by the government through purchase guarantees by the state-owned Neqi A/S grocery store chain. The information collected for the GDP Per Capita (PPP) of Greenland has been obtained from the Central Intelligence Agency. GDP per capita in Denmark averaged 44395.84 USD from 1960 until 2019, reaching an all time high of 65147.40 USD in 2019 and a record low of 20537.50 USD in 1960. As of 2019, the estimated average GDP per capita (PPP) of all of the countries of the world is Int$18,381. Animal husbandry consists mainly of sheep farming, with free-grazing flocks. The largest employers in Greenland are the various levels of administration, including the central Kingdom Government in Denmark, the Local Greenland Self-Rule Government, and the municipalities. Value & Rank The GDP per Capita (PPP) of Greenland is 38,400 ($) with a global rank of 25. This page is a list of the countries of the world by gross domestic product (at purchasing … Both whaling and sealing have become controversial, limiting the potential market for their products. PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. Greenland. GDP per capita is often considered an indicator of a country’s standard of living; although this can be problematic because GDP per capita is not a measure of personal income. The economy of Greenland can be characterized as small, mixed and vulnerable. In some instances, these figures are estimates. 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