Greenland's price level index (GDP) was 74.14 in 2023, the latest year in the World Bank's World Development Indicators. That is down 17.51% from 89.87 in 2013 (1.91% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 74.14 | 2023 |
| Five years earlier | 88.25 | 2018 |
| Ten years earlier | 89.87 | 2013 |
| Highest | 95.14 | 1995 |
| Lowest | 63.04 | 2001 |
| Average since 2014 | 82.25 | 2014–2023 |
| First recorded | 89.52 | 1990 |
What the numbers say
In 2023, Greenland's price level index (GDP) rose 0.65 on 2022 (from 73.49 to 74.14).
Across the 30 yearly changes before that (1993 to 2022), the average change was −0.58 and a typical year strayed about 6.39 from that (the standard deviation). This year's change was 0.2 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 17 in 2003 and the biggest yearly fall was 12.09 in 1997. 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 1.07 a year. A straight line explains 38% 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
- San Marino — 1st of 2: 75.97
What this measures
The price level index (PLI) is the ratio of a purchasing power parity (PPP) conversion factor to the corresponding market exchange rate between two countries, expressed relative to a base country that is set equal to 100. For this series the base country is the United States. It provides a measure of the differences in price level between the country and the United States by indicating the number of units of the common currency (US dollars) needed to buy the same volume of the aggregation level in each country. At the level of GDP, the price level ratio provides a measure of the differences in the general price levels of countries.
Limitations: Global PPP estimates underlying this indicator are produced by the ICP Global Office and regional implementing agencies, based on data supplied by the national implementing agencies in the participating economies, and in accordance with the methodology recommended by the ICP Technical Advisory Group and approved by the ICP Governing Board. As such, these results are not produced by participating economies as part of their national official statistics. Price level index are not recommended to use as a precise measure to establish strict rankings of countries.
Regional and income-group figures are computed by the World Bank as a no aggregation provided for this indicator in wdi..
All 34 values
| Year | Price level index (GDP) |
|---|---|
| 2023 | 74.14 |
| 2022 | 73.49 |
| 2021 | 83.89 |
| 2020 | 84.33 |
| 2019 | 82.95 |
| 2018 | 88.25 |
| 2017 | 84.6 |
| 2016 | 81.79 |
| 2015 | 79.79 |
| 2014 | 89.27 |
| 2013 |
Price level index (GDP) in nearby economies
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 price level index (GDP)?
- 74.14 in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1990?
- It is down 17.18% from 89.52 in 1990 (0.57% a year on average, compounded). The highest value was 95.14 in 1995 and the lowest 63.04 in 2001.
- Is the latest change in price level index (GDP) unusual for Greenland?
- In 2023, Greenland's price level index (GDP) rose 0.65 on 2022 (from 73.49 to 74.14). Across the 30 yearly changes before that (1993 to 2022), the average change was −0.58 and a typical year strayed about 6.39 from that (the standard deviation). This year's change was 0.2 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 Development Indicators, World Bank (WB), uri: https://databank.worldbank.org/source/world-development-indicators, publisher: World Development Indicators.
Source
World Bank, World Development Indicators, indicator PA.NUS.GDP.PLI, licensed CC BY 4.0. Original source: World Development Indicators, World Bank (WB), uri: https://databank.worldbank.org/source/world-development-indicators, publisher: World Development Indicators 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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