Greenland's merchandise trade (% of GDP) was 63.19% in 2023, the latest year in the World Bank's World Development Indicators. That is up 7.43 percentage points from 55.76% in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 63.19% | 2023 |
| Five years earlier | 50% | 2018 |
| Ten years earlier | 55.76% | 2013 |
| Highest | 116.77% | 1984 |
| Lowest | 42.94% | 2015 |
| Average since 2014 | 53.81% | 2014–2023 |
| First recorded | 96.38% | 1970 |
What the numbers say
In 2023, Greenland's merchandise trade (% of GDP) rose 1.87 percentage points on 2022 (from 61.32% to 63.19%).
Across the 30 yearly changes before that (1993 to 2022), the average change was −0.49 percentage points and a typical year strayed about 5.05 percentage points from that (the standard deviation). This year's change was 0.5 standard deviations above 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 26.62 percentage points in 1974 and the biggest yearly fall was 14.72 percentage points in 1975. 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 1.99 percentage points a year. A straight line explains 77% 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.
| Value | Year | |
|---|---|---|
| Greenland | 63.19% | 2023 |
| World | 43.89% | 2025 |
| Europe & Central Asia | 62.17% | 2025 |
| High income | 45.19% | 2025 |
What this measures
General merchandise trade includes goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. It is the total of merchandise exports plus merchandise imports. 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 54 values
| Year | Merchandise trade (% of GDP) |
|---|---|
| 2023 | 63.19 |
| 2022 | 61.32 |
| 2021 | 56.72 |
| 2020 | 57.39 |
| 2019 | 60.45 |
| 2018 | 50 |
| 2017 | 47.55 |
| 2016 | 48.35 |
| 2015 | 42.94 |
| 2014 | 50.17 |
| 2013 |
Merchandise trade (% of GDP) in nearby economies
More private sector & trade data for Greenland
- Merchandise imports (current US$) — US$1.02 billion (2025)
- Merchandise exports (current US$) — US$1.01 billion (2025)
- Merchandise imports from high-income economies (% of total merchandise imports) — 98.35% (2023)
- Merchandise imports by the reporting economy, residual (% of total merchandise imports) — 0.000486% (2023)
- Merchandise imports by the reporting economy (current US$) — US$1.21 billion (2023)
- Merchandise exports to high-income economies (% of total merchandise exports) — 96.96% (2023)
- Merchandise exports by the reporting economy, residual (% of total merchandise exports) — 0% (2023)
- Merchandise exports by the reporting economy (current US$)
Reading data like this
Questions people ask
- What is Greenland's merchandise trade (% of GDP)?
- 63.19% in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is down 33.19 percentage points from 96.38% in 1970. The highest value was 116.77% in 1984 and the lowest 42.94% in 2015.
- Is the latest change in merchandise trade (% of GDP) unusual for Greenland?
- In 2023, Greenland's merchandise trade (% of GDP) rose 1.87 percentage points on 2022 (from 61.32% to 63.19%). Across the 30 yearly changes before that (1993 to 2022), the average change was −0.49 percentage points and a typical year strayed about 5.05 percentage points from that (the standard deviation). This year's change was 0.5 standard deviations above 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?
- The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: World Trade Organization (WTO); World Bank GDP estimates, World Bank (WB); World Development Indicators, World Bank (WB).
Source
World Bank, World Development Indicators, indicator TG.VAL.TOTL.GD.ZS, licensed CC BY 4.0. Original source: World Trade Organization (WTO); World Bank GDP estimates, World Bank (WB); World Development Indicators, 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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