Greenland's gross fixed capital formation (annual % growth) was -3.77% in 2023, the latest year in the World Bank's World Development Indicators. That is up 18.4 percentage points from -22.17% in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | -3.77% | 2023 |
| Five years earlier | -6.05% | 2018 |
| Ten years earlier | -22.17% | 2013 |
| Highest | 69.49% | 2010 |
| Lowest | -38.6% | 2012 |
| Average since 2014 | 5.36% | 2014–2023 |
| First recorded | -5.92% | 2004 |
What the numbers say
In 2023, Greenland's gross fixed capital formation (annual % growth) fell 3.18 percentage points on 2022 (from -0.59% to -3.77%).
Across the 18 yearly changes before that (2005 to 2022), the average change was +0.3 percentage points and a typical year strayed about 39.53 percentage points 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 86.25 percentage points in 2010 and the biggest yearly fall was 63.18 percentage points 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 there is no clear straight-line trend: a straight line explains 4% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
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.
| Value | Year | |
|---|---|---|
| Greenland | -3.77% | 2023 |
| World | 2.2% | 2024 |
| Europe & Central Asia | 2.98% | 2025 |
| High income | 1.41% | 2024 |
Closest to Greenland in the 2023 ranking
- Togo — 2nd of 2: -19.77%
What this measures
Gross fixed capital formation includes acquisitions less disposals of fixed assets during the accounting period, including certain specified expenditures on services that add to the value of non-produced assets. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 20 values
| Year | Gross fixed capital formation (annual % growth) |
|---|---|
| 2023 | -3.77 |
| 2022 | -0.5855 |
| 2021 | 13.34 |
| 2020 | 10.55 |
| 2019 | 46.71 |
| 2018 | -6.05 |
| 2017 | -7.37 |
| 2016 | 14.02 |
| 2015 | 5.87 |
| 2014 | -19.11 |
| 2013 |
Gross fixed capital formation (annual % growth) in nearby economies
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 gross fixed capital formation (annual % growth)?
- -3.77% in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 2004?
- It is up 2.15 percentage points from -5.92% in 2004. The highest value was 69.49% in 2010 and the lowest -38.6% in 2012.
- Is the latest change in gross fixed capital formation (annual % growth) unusual for Greenland?
- In 2023, Greenland's gross fixed capital formation (annual % growth) fell 3.18 percentage points on 2022 (from -0.59% to -3.77%). Across the 18 yearly changes before that (2005 to 2022), the average change was +0.3 percentage points and a typical year strayed about 39.53 percentage points 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.
- Where does this data come from?
Source
World Bank, World Development Indicators, indicator NE.GDI.FTOT.KD.ZG, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; 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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