Greenland: Industry, including construction, value added (annual % growth)

Key figures

What the numbers say

In 2023, Greenland's industry, including construction, value added (annual % growth) fell 2.9 percentage points on 2022 (from 1.61% to -1.29%).

Across the 18 yearly changes before that (2005 to 2022), the average change was −0.95 percentage points and a typical year strayed about 14.68 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 24.44 percentage points in 2007 and the biggest yearly fall was 32.72 percentage points in 2021. 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 10% 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.

Closest to Greenland in the 2023 ranking

• Isle of Man — 1st of 3: 5.4%
• Aruba — 2nd of 3: 0.62%

What this measures

Industry (including construction) corresponds to ISIC (Rev.4) divisions 05-43. It is comprised of mining, manufacturing, construction, electricity, water, and gas industries. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Limitations: Ideally, industrial output should be measured through regular censuses and surveys of firms. But in most developing countries such surveys are infrequent, so earlier survey results must be extrapolated using an appropriate indicator. The choice of sampling unit, which may be the enterprise (where responses may be based on financial records) or the establishment (where production units may be recorded separately), also affects the quality of the data. Moreover, much industrial production is organized in unincorporated or owner-operated ventures that are not captured by surveys aimed at the formal sector.

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

All 20 values

Industry, including construction, value added (annual % growth) in nearby economies

• Albania — 0.97% (2025)
• Andorra — 3.76% (2025)
• Armenia — 9.3% (2025)
• Austria — -1.11% (2025)
• Azerbaijan — -0.76% (2025)
• Belarus — 0.22% (2025)
• Belgium — 1.04% (2025)
• Bosnia and Herzegovina — -2.01% (2025)
• Bulgaria — -1.44% (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

• 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 industry, including construction, value added (annual % growth)?

-1.29% in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2004?

It is down 19.93 percentage points from 18.63% in 2004. The highest value was 20.99% in 2020 and the lowest -11.73% in 2021.

Is the latest change in industry, including construction, value added (annual % growth) unusual for Greenland?

In 2023, Greenland's industry, including construction, value added (annual % growth) fell 2.9 percentage points on 2022 (from 1.61% to -1.29%). Across the 18 yearly changes before that (2005 to 2022), the average change was −0.95 percentage points and a typical year strayed about 14.68 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.

Source

World Bank, World Development Indicators, indicator NV.IND.TOTL.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.

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.