Greenland's manufacturing, value added (constant LCU) was 524.9 million in 2023, the latest year in the World Bank's World Development Indicators. That is down 38% from 846.6 million in 2013 (4.67% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 524.9 million | 2023 |
| Five years earlier | 605.4 million | 2018 |
| Ten years earlier | 846.6 million | 2013 |
| Highest | 1.32 billion | 2016 |
| Lowest | 340 million | 2021 |
| Average since 2014 | 750.32 million | 2014–2023 |
| First recorded | 901.1 million |
What the numbers say
In 2023, Greenland's manufacturing, value added (constant LCU) fell 14.9% on 2022 (from 617 million to 524.9 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 88.05 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.
Closest to Greenland in the 2023 ranking
- Tanzania — 1st of 5: 11.95 trillion
- Central African Republic — 2nd of 5: 136.54 billion
- Aruba — 4th of 5: 170.56 million
- Isle of Man — 5th of 5: 93.73 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 varies by country. This series is expressed in local currency units.
All 21 values
| Year | Manufacturing, value added (constant LCU) |
|---|---|
| 2023 | 524,900,000 |
| 2022 | 617,000,000 |
| 2021 | 340,000,000 |
| 2020 | 656,800,000 |
| 2019 | 538,200,000 |
| 2018 | 605,400,000 |
| 2017 | 547,300,000 |
| 2016 | 1,324,300,000 |
| 2015 | 1,115,900,000 |
| 2014 | 1,233,400,000 |
| 2013 |
Manufacturing, value added (constant LCU) in nearby economies
- Albania — 128.81 billion (2025)
- Andorra — 93.83 million (2024)
- Armenia — 754.82 billion (2025)
- Austria — 69.84 billion (2025)
- Azerbaijan — 2.24 billion (2025)
- Belarus — 52.02 billion (2025)
- Belgium — 59.19 billion (2025)
- Bosnia and Herzegovina — 5.39 billion (2025)
- Croatia — 7.28 billion (2025)
- Cyprus — 1.32 billion (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 manufacturing, value added (constant LCU)?
- 524.9 million in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 2003?
- It is down 41.75% from 901.1 million in 2003 (2.67% a year on average, compounded). The highest value was 1.32 billion in 2016 and the lowest 340 million in 2021.
- Is the latest change in manufacturing, value added (constant LCU) unusual for Greenland?
- In 2023, Greenland's manufacturing, value added (constant LCU) fell 14.9% on 2022 (from 617 million to 524.9 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.KN, 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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