Greenland: GDP (constant 2015 US$)

Key figures

What the numbers say

In 2023, Greenland's GDP (constant 2015 US$) rose 0.9% on 2022 (from US$2.81 billion to US$2.84 billion).

Across the 30 yearly changes before that (1993 to 2022), the average change was +2.4% and a typical year strayed about 3% from that (the standard deviation). This year's change was 0.5 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 13.1% in 1971 and the biggest yearly fall was 11.7% in 1990. 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 US$34.99 million a year. A straight line explains 93% 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 US$2.94 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 US$39.35 million, against US$89.37 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.

How it compares

See how every economy compares in the full ranking.

Closest to Greenland in the 2023 ranking

• Channel Islands — 1st of 4: US$11.71 billion
• Isle of Man — 2nd of 4: US$7.1 billion
• San Marino — 4th of 4: US$1.74 billion

What this measures

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. 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 is 2015. This indicator is expressed in United States dollars.

Limitations: Each industry's contribution to growth in the economy's output is measured by growth in the industry's value added. In principle, value added in constant prices can be estimated by measuring the quantity of goods and services produced in a period, valuing them at an agreed set of base year prices, and subtracting the cost of intermediate inputs, also in constant prices. This double-deflation method requires detailed information on the structure of prices of inputs and outputs. In many industries, however, value added is extrapolated from the base year using single volume indexes of outputs or, less commonly, inputs.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 54 values

GDP (constant 2015 US$) in nearby economies

• Albania — US$16.16 billion (2025)
• Andorra — US$3.51 billion (2025)
• Armenia — US$17.49 billion (2025)
• Austria — US$424.41 billion (2025)
• Azerbaijan — US$60.82 billion (2025)
• Belarus — US$63.04 billion (2025)
• Belgium — US$539.12 billion (2025)
• Bosnia and Herzegovina — US$21.8 billion (2025)
• Bulgaria — US$67.25 billion (2025)
• Channel Islands — US$11.71 billion (2023)
• Croatia — US$71.38 billion (2025)
• Cyprus

More economic policy & debt data for Greenland

• GDP (current US$) — US$3.33 billion (2023)
• GDP (current LCU) — 22.92 billion (2023)
• GDP (constant LCU) — 16.26 billion (2023)
• GDP per capita (current US$) — US$58,499 (2023)
• GDP per capita (current LCU) — 403,041 (2023)
• GDP per capita (constant 2015 US$) — US$49,930 (2023)
• GDP per capita (constant LCU) — 285,947 (2023)
• GDP (annual % growth) — 0.87% (2023)
• GDP per capita (annual % growth) — 0.5% (2023)
• Adjusted savings, carbon dioxide damage (current US$) — US$20.96 million (2021)
• Adjusted savings, mineral depletion (current US$)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Greenland's GDP (constant 2015 US$)?

US$2.84 billion in 2023, according to the World Bank (World Development Indicators).

How has it changed since 1970?

It is up 297.98% from US$713.41 million in 1970 (2.64% a year on average, compounded). The highest value was US$2.84 billion in 2023 and the lowest US$713.41 million in 1970.

Is the latest change in GDP (constant 2015 US$) unusual for Greenland?

Source

World Bank, World Development Indicators, indicator NY.GDP.MKTP.KD, 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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