Greenland: GDP deflator (base year varies by country)

Key figures

What the numbers say

In 2023, Greenland's GDP deflator (base year varies by country) rose 1.9% on 2022 (from 138.37 to 140.95).

Across the 30 yearly changes before that (1993 to 2022), the average change was +2% and a typical year strayed about 2.4% from that (the standard deviation). This year's change was 0.0 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 16.4% in 1975 and the biggest yearly fall was 3.2% in 2005. 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 3.02 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 150.46 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 2.7, against 6.79 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

• San Marino — 2nd of 4: 132.36
• Isle of Man — 3rd of 4: 131.23
• Channel Islands — 4th of 4: 100

What this measures

The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency. The base year varies by country. This indicator is expressed as a ratio (a÷b).

All 54 values

GDP deflator (base year varies by country) in nearby economies

• Albania — 124.77 (2025)
• Andorra — 127.73 (2025)
• Armenia — 144.93 (2025)
• Austria — 123.03 (2025)
• Azerbaijan — 380.4 (2025)
• Belarus — 134.42 (2025)
• Belgium — 120.8 (2025)
• Bosnia and Herzegovina — 128.9 (2025)
• Bulgaria — 154.2 (2025)
• Channel Islands — 100 (2023)

More financial sector data for Greenland

• DEC alternative conversion factor (LCU per US$) — US$6.62 (2025)
• Official exchange rate (LCU per US$, period average) — US$6.62 (2025)
• Inflation, GDP deflator (annual % growth) — 1.86% (2023)
• Inflation, GDP deflator, linked series (annual % growth) — 1.86% (2023)
• GDP deflator, linked series (base year varies by country) — 140.95 (2023)

Every indicator for Greenland is on the Greenland data page.

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 deflator (base year varies by country)?

140.95 in 2023, according to the World Bank (World Development Indicators).

How has it changed since 1970?

It is up 1,004% from 12.76 in 1970 (4.64% a year on average, compounded). The highest value was 140.95 in 2023 and the lowest 12.76 in 1970.

Is the latest change in GDP deflator (base year varies by country) unusual for Greenland?

Source

World Bank, World Development Indicators, indicator NY.GDP.DEFL.ZS, 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.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.