Greenland: Manufacturing, value added (current US$)

Key figures

What the numbers say

In 2023, Greenland's manufacturing, value added (current US$) fell 29.8% on 2022 (from US$129.11 million to US$90.58 million).

Across the 19 yearly changes before that (2004 to 2022), the average change was +7.4% and a typical year strayed about 41.3% from that (the standard deviation). This year's change was 0.9 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 116.7% in 2018 and the biggest yearly fall was 41.6% 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 there is no clear straight-line trend: a straight line explains 7% 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

• Tanzania — 2nd of 6: US$6.64 billion
• Central African Republic — 3rd of 6: US$458.74 million
• Isle of Man — 4th of 6: US$153.15 million
• Aruba — 6th of 6: US$88.26 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 current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Limitations: In establishing classifications systems compilers must define both the types of activities to be described and the units whose activities are to be reported. There are many possibilities, and the choices affect how the statistics can be interpreted and how useful they are in analyzing economic behavior. The ISIC emphasizes commonalities in the production process and is explicitly not intended to measure outputs (for which there is a newly developed Central Product Classification). Nevertheless, the ISIC views an activity as defined by "a process resulting in a homogeneous set of products."

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 21 values

Manufacturing, value added (current US$) in nearby economies

• Albania — US$1.84 billion (2025)
• Andorra — US$126.39 million (2024)
• Armenia — US$3.21 billion (2025)
• Austria — US$88.24 billion (2025)
• Azerbaijan — US$4.54 billion (2025)
• Belarus — US$19.15 billion (2025)
• Belgium — US$81.04 billion (2025)
• Bosnia and Herzegovina — US$3.92 billion (2025)
• Croatia — US$10.66 billion (2025)
• Cyprus — US$1.81 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

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Questions people ask

What is Greenland's manufacturing, value added (current US$)?

US$90.58 million in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2003?

It is down 10.36% from US$101.05 million in 2003 (0.55% a year on average, compounded). The highest value was US$156.68 million in 2018 and the lowest US$65.39 million in 2021.

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

In 2023, Greenland's manufacturing, value added (current US$) fell 29.8% on 2022 (from US$129.11 million to US$90.58 million). Across the 19 yearly changes before that (2004 to 2022), the average change was +7.4% and a typical year strayed about 41.3% from that (the standard deviation). This year's change was 0.9 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.CD, 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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