Greenland: Gross capital formation (current US$)

Key figures

What the numbers say

In 2023, Greenland's gross capital formation (current US$) rose 0.4% on 2022 (from US$1.19 billion to US$1.2 billion).

Across the 19 yearly changes before that (2004 to 2022), the average change was +11.1% and a typical year strayed about 28.4% from that (the standard deviation). This year's change was 0.4 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 60.8% in 2010 and the biggest yearly fall was 42.8% in 2012. 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$80.31 million a year. A straight line explains 87% 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.

How it compares

See how every economy compares in the full ranking.

Closest to Greenland in the 2023 ranking

• United Arab Emirates — 1st of 4: US$139.22 billion
• Trinidad and Tobago — 2nd of 4: US$4.75 billion
• Togo — 3rd of 4: US$2.18 billion

What this measures

Gross capital formation includes acquisitions less disposals of produced assets for purposes of fixed capital formation, inventories or valuables. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Limitations: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on capital formation may be estimated from direct surveys of enterprises and administrative records or based on the commodity flow method using data from production, trade, and construction activities.

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

All 21 values

Gross capital formation (current US$) in nearby economies

• Albania — US$6.75 billion (2024)
• Armenia — US$7.08 billion (2025)
• Austria — US$137.1 billion (2025)
• Azerbaijan — US$14.34 billion (2025)
• Belarus — US$25.33 billion (2025)
• Belgium — US$186.78 billion (2025)
• Bosnia and Herzegovina — US$9.37 billion (2025)
• Bulgaria — US$28.4 billion (2025)
• Croatia — US$25.83 billion (2025)
• Cyprus — US$7.94 billion (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$49,930 (2023)
• GDP per capita (constant LCU) — 285,947 (2023)
• GDP (annual % growth) — 0.87% (2023)
• GDP per capita (annual % growth) — 0.5% (2023)
• Adjusted savings, carbon dioxide damage (current US$)

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Questions people ask

What is Greenland's gross capital formation (current US$)?

US$1.2 billion in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2003?

It is up 296.87% from US$301.72 million in 2003 (7.14% a year on average, compounded). The highest value was US$1.72 billion in 2011 and the lowest US$297.38 million in 2004.

Is the latest change in gross capital formation (current US$) unusual for Greenland?

In 2023, Greenland's gross capital formation (current US$) rose 0.4% on 2022 (from US$1.19 billion to US$1.2 billion). Across the 19 yearly changes before that (2004 to 2022), the average change was +11.1% and a typical year strayed about 28.4% from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Where does this data come from?

Source

World Bank, World Development Indicators, indicator NE.GDI.TOTL.CD, 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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