Greenland's gross fixed capital formation (constant LCU) was 6.54 billion in 2023, the latest year in the World Bank's World Development Indicators. That is up 49.43% from 4.37 billion in 2013 (4.1% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 6.54 billion | 2023 |
| Five years earlier | 3.72 billion | 2018 |
| Ten years earlier | 4.37 billion | 2013 |
| Highest | 9.15 billion | 2011 |
| Lowest | 1.99 billion | 2004 |
| Average since 2014 | 5.09 billion | 2014–2023 |
| First recorded | 2.12 billion |
What the numbers say
In 2023, Greenland's gross fixed capital formation (constant LCU) fell 3.8% on 2022 (from 6.79 billion to 6.54 billion).
Across the 19 yearly changes before that (2004 to 2022), the average change was +9.5% and a typical year strayed about 27.1% 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 69.5% in 2010 and the biggest yearly fall was 38.6% 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 418.51 million a year. A straight line explains 85% 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.
Closest to Greenland in the 2023 ranking
- Togo — 1st of 2: 1.03 trillion
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 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 | Gross fixed capital formation (constant LCU) |
|---|---|
| 2023 | 6,535,200,000 |
| 2022 | 6,791,200,000 |
| 2021 | 6,831,200,000 |
| 2020 | 6,027,200,000 |
| 2019 | 5,452,200,000 |
| 2018 | 3,716,300,000 |
| 2017 | 3,955,600,000 |
| 2016 | 4,270,400,000 |
| 2015 | 3,745,300,000 |
| 2014 | 3,537,700,000 |
Gross fixed capital formation (constant LCU) in nearby economies
- Albania — 572.99 billion (2025)
- Armenia — 1.94 trillion (2025)
- Austria — 96.76 billion (2025)
- Belarus — 53.15 billion (2025)
- Belgium — 125.53 billion (2025)
- Bosnia and Herzegovina — 10.75 billion (2024)
- Bulgaria — 14.29 billion (2025)
- Croatia — 18.55 billion (2025)
- Cyprus — 6 billion (2025)
- Czechia — 1.75 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 gross fixed capital formation (constant LCU)?
- 6.54 billion in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 2003?
- It is up 208.51% from 2.12 billion in 2003 (5.79% a year on average, compounded). The highest value was 9.15 billion in 2011 and the lowest 1.99 billion in 2004.
- Is the latest change in gross fixed capital formation (constant LCU) unusual for Greenland?
- In 2023, Greenland's gross fixed capital formation (constant LCU) fell 3.8% on 2022 (from 6.79 billion to 6.54 billion). Across the 19 yearly changes before that (2004 to 2022), the average change was +9.5% and a typical year strayed about 27.1% 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.
Source
World Bank, World Development Indicators, indicator NE.GDI.FTOT.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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