Greenland: Manufacturing, value added (constant 2015 US$)

Key figures

What the numbers say

In 2023, Greenland's manufacturing, value added (constant 2015 US$) fell 14.9% on 2022 (from US$56.1 million to US$47.72 million).

Across the 19 yearly changes before that (2004 to 2022), the average change was +4.1% and a typical year strayed about 34% from that (the standard deviation). This year's change was 0.6 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 81.5% in 2022 and the biggest yearly fall was 58.7% in 2017. 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 downward, about US$8.01 million a year. A straight line explains 61% 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

• Central African Republic — 2nd of 5: US$447.72 million
• Isle of Man — 3rd of 5: US$143.19 million
• Aruba — 4th of 5: US$123.72 million

What this measures

Manufacturing includes industries classified in ISIC (Rev. 3) major division C and is defined as the physical or chemical transformation of materials or components into new products. 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 is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed 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 gap-filled total.

All 21 values

Manufacturing, value added (constant 2015 US$) in nearby economies

• Albania — US$1.05 billion (2025)
• Andorra — US$105.57 million (2024)
• Armenia — US$1.69 billion (2025)
• Austria — US$76 billion (2025)
• Azerbaijan — US$4.97 billion (2025)
• Belarus — US$14.81 billion (2025)
• Belgium — US$60.14 billion (2025)
• Bosnia and Herzegovina — US$2.28 billion (2025)
• Croatia — US$8.14 billion (2025)
• Cyprus

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 manufacturing, value added (constant 2015 US$)?

US$47.72 million in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2003?

It is down 41.75% from US$81.93 million in 2003 (2.67% a year on average, compounded). The highest value was US$120.41 million in 2016 and the lowest US$30.91 million in 2021.

Is the latest change in manufacturing, value added (constant 2015 US$) unusual for Greenland?

In 2023, Greenland's manufacturing, value added (constant 2015 US$) fell 14.9% on 2022 (from US$56.1 million to US$47.72 million). Across the 19 yearly changes before that (2004 to 2022), the average change was +4.1% and a typical year strayed about 34% from that (the standard deviation). This year's change was 0.6 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 NV.IND.MANF.KD, 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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