Greenland suffered negative economic growth in the
early 1990s, but since 1993 the economy has improved. The Greenland
Home Rule Government (GHRG) has pursued a tight fiscal policy since
the late 1980s which has helped create surpluses in the public budget
and low inflation. Since 1990, Greenland has registered a foreign
trade deficit following the closure of the last remaining lead and
zinc mine in 1990. Greenland today is critically dependent on fishing
and fish exports; the shrimp fishery is by far the largest income
earner. Despite resumption of several interesting hydrocarbon and
minerals exploration activities, it will take several years before
production can materialize. Tourism is the only sector offering any
near-term potential and even this is limited due to a short season and
high costs. The public sector, including publicly owned enterprises
and the municipalities, plays the dominant role in Greenland's
economy. About half the government revenues come from grants from the
Danish Government, an important supplement of GDP.

purchasing power parity - $945 million (1997 est.)

0.6% (1997 est.)

purchasing power parity - $16,100 (1997 est.)

agriculture: NA%
industry: NA%
services: NA%

NA%

lowest 10%: NA%
highest 10%: NA%

1.2% (1998 est.)

24,500 (1995 est.)

10.5% (1995 est.)

revenues: $706 million
expenditures: $697 million, including capital expenditures of $NA
(1995)

fish processing (mainly shrimp), handicrafts, furs, small
shipyards

NA%

245 million kWh (1998)

fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)

228 million kWh (1998)

0 kWh (1998)

0 kWh (1998)

forage crops, garden vegetables; sheep,
reindeer; fish

$363.4 million (f.o.b., 1995)

fish and fish products 95%

Denmark 89%, Japan 5%, UK 5%

$421 million (c.i.f., 1995)

machinery and transport equipment, manufactured
goods, food and live animals, petroleum products

Denmark 7.5%, Iceland 3.8%, Japan 3.3%, Norway
3.1%, US 2.4%, Germany 2.4%, Sweden 1.8%

$243 million (1995)

$427 million (annual subsidy from Denmark)
(1995)

1 Danish krone (DKr) = 100 oere

Danish kroner (DKr) per US$1 - 7.336 (January 2000),
6.976 (1999), 6.701 (1998), 6.604 (1997), 5.799 (1996), 5.602 (1995)

calendar year