Economy of Greenland

The economy of Greenland can be characterized as small, mixed and vulnerable. Greenland's economy consists of a large public sector and comprehensive[clarification needed] foreign trade. This has resulted in an economy with periods of strong growth, considerable inflation, unemployment problems and extreme dependence on capital inflow from Denmark and on outside, mainly Danish, skilled labor. 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 home rule government, which in turn employs 10,307 Greenlanders out of 25,620 currently in employment (2015). Unemployment nonetheless remains high, with the rest of the economy dependent upon demand for exports of shrimp and fish.


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