Greenland: Gross fixed capital formation (% of GDP)

Key figures

What the numbers say

In 2023, Greenland's gross fixed capital formation (% of GDP) fell 1.8 percentage points on 2022 (from 36.49% to 34.69%).

Across the 19 yearly changes before that (2004 to 2022), the average change was +0.9 percentage points and a typical year strayed about 9.99 percentage points from that (the standard deviation). This year's change was 0.3 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 20.57 percentage points in 2010 and the biggest yearly fall was 26.48 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 the straight-line trend is upward, about 1.73 percentage points a year. A straight line explains 75% 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

• Togo — 2nd of 3: 20.98%
• Trinidad and Tobago — 3rd of 3: 18.99%

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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 21 values

Gross fixed capital formation (% of GDP) in nearby economies

• Albania — 24.27% (2025)
• Armenia — 21.42% (2025)
• Austria — 23.53% (2025)
• Azerbaijan — 16.29% (2025)
• Belarus — 25.08% (2025)
• Belgium — 23.89% (2025)
• Bosnia and Herzegovina — 24.37% (2024)
• Bulgaria — 20.13% (2025)
• Croatia — 25.73% (2025)
• Cyprus — 20.03% (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 fixed capital formation (% of GDP)?

34.69% in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2003?

It is up 15.33 percentage points from 19.36% in 2003. The highest value was 64.84% in 2011 and the lowest 16.32% in 2004.

Is the latest change in gross fixed capital formation (% of GDP) unusual for Greenland?

In 2023, Greenland's gross fixed capital formation (% of GDP) fell 1.8 percentage points on 2022 (from 36.49% to 34.69%). Across the 19 yearly changes before that (2004 to 2022), the average change was +0.9 percentage points and a typical year strayed about 9.99 percentage points from that (the standard deviation). This year's change was 0.3 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.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.

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