Greenland's final consumption expenditure (constant LCU) was 14.12 billion in 2023, the latest year in the World Bank's World Development Indicators. That is up 9.4% from 12.9 billion in 2013 (0.9% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 14.12 billion | 2023 |
| Five years earlier | 13.59 billion | 2018 |
| Ten years earlier | 12.9 billion | 2013 |
| Highest | 14.12 billion | 2023 |
| Lowest | 10.7 billion | 2003 |
| Average since 2014 | 13.55 billion | 2014–2023 |
| First recorded | 10.7 billion |
What the numbers say
In 2023, Greenland's final consumption expenditure (constant LCU) rose 1.2% on 2022 (from 13.94 billion to 14.12 billion).
Across the 19 yearly changes before that (2004 to 2022), the average change was +1.4% and a typical year strayed about 1.8% from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 5.1% in 2004 and the biggest yearly fall was 1.7% in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 the straight-line trend is upward, about 145.71 million a year. A straight line explains 91% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
A straight-line projection, tested first
Extending that straight line gives about 14.6 billion for 2026. We show this only because the same method, fitted on earlier years, predicted 2021 to 2023 better than "no change" would have: its average miss was 75.89 million, against 353.1 million for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
Closest to Greenland in the 2023 ranking
- Togo — 1st of 3: 4.45 trillion
- United Arab Emirates — 2nd of 3: 1.08 trillion
What this measures
Final consumption expenditure is expenditure on goods and services by resident institutional units for the direct satisfaction of human needs or wants, whether individual or collective. Final consumption expenditure can be measured for households, general government, the central bank and non-profit institutions serving households. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 21 values
| Year | Final consumption expenditure (constant LCU) |
|---|---|
| 2023 | 14,115,600,000 |
| 2022 | 13,942,200,000 |
| 2021 | 14,044,200,000 |
| 2020 | 13,680,900,000 |
| 2019 | 13,922,100,000 |
| 2018 | 13,594,300,000 |
| 2017 | 13,286,100,000 |
| 2016 | 13,117,400,000 |
| 2015 | 12,906,300,000 |
| 2014 | 12,932,800,000 |
Final consumption expenditure (constant LCU) in nearby economies
- Albania — 1.79 trillion (2025)
- Armenia — 5.89 trillion (2025)
- Austria — 304.22 billion (2025)
- Belarus — 166.35 billion (2025)
- Belgium — 395.27 billion (2025)
- Bosnia and Herzegovina — 39.8 billion (2025)
- Bulgaria — 60.92 billion (2025)
- Croatia — 56.95 billion (2025)
- Cyprus — 23.22 billion (2025)
- Czechia — 4.33 trillion (2025)
More economic policy & debt data for Greenland
- GDP (current US$) — US$3.33 billion (2023)
- GDP (current LCU) — 22.92 billion (2023)
- GDP (constant 2015 US$) — US$2.84 billion (2023)
- GDP (constant LCU) — 16.26 billion (2023)
- GDP per capita (current US$) — US$58,499 (2023)
- GDP per capita (current LCU) — 403,041 (2023)
- GDP per capita (constant 2015 US$) — US$49,930 (2023)
- GDP per capita (constant LCU) — 285,947 (2023)
- GDP (annual % growth) — 0.87% (2023)
- GDP per capita (annual % growth) — 0.5% (2023)
- Adjusted savings, carbon dioxide damage (current US$)
Reading data like this
Questions people ask
- What is Greenland's final consumption expenditure (constant LCU)?
- 14.12 billion in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 2003?
- It is up 31.92% from 10.7 billion in 2003 (1.39% a year on average, compounded). The highest value was 14.12 billion in 2023 and the lowest 10.7 billion in 2003.
Source
World Bank, World Development Indicators, indicator NE.CON.TOTL.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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