External balance on goods and services in Greenland
Greenland: External balance on goods and services was -2.36 billion current LCU in 2023. ◆ Volatile
External balance on goods and services in Greenland, 2003–2023
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
Greenland recorded -2.36 billion current LCU for external balance on goods and services in 2023.
That represents a change of up 10.3% on the previous year and up 23.7% over ten years.
Over the whole period, external balance on goods and services in Greenland peaked at -167.40 million current LCU in 2018 and was at its lowest, -7.86 billion current LCU, in 2011.
Greenland ranks 98th of 192 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -2.31 billion current LCU | -4.26 billion current LCU | -1.05 billion current LCU | 7 |
| 2010s | -2.73 billion current LCU | -7.86 billion current LCU | -167.40 million current LCU | 10 |
| 2020s | -2.60 billion current LCU | -3.22 billion current LCU | -2.17 billion current LCU | 4 |
Countries ranked near Greenland
More economy & growth data for Greenland
- Services, value added 2.2% (2023)
- Industry (including construction), value added -1.3% (2023)
- Industry (including construction), value added 3.80 billion constant LCU (2023)
- Industry (including construction), value added 18.4% (2023)
- Services, value added 2.03 billion current US$ (2023)
- Services, value added 13.98 billion current LCU (2023)
- Services, value added 1.75 billion constant 2015 US$ (2023)
- Discrepancy in expenditure estimate of GDP 0 current LCU (2023)
- GDP deflator 140.95 base year varies by country (2023)
- Inflation, GDP deflator 1.9% (2023)
Frequently asked questions
- What is external balance on goods and services in Greenland?
- External balance on goods and services in Greenland was -2.36 billion current LCU in 2023, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Greenland?
- The highest recorded value was -167.40 million current LCU in 2018.
- What is the lowest external balance on goods and services recorded in Greenland?
- The lowest recorded value was -7.86 billion current LCU in 2011.
- How does Greenland rank for external balance on goods and services?
- Greenland ranks 98th out of 192 countries with data for 2023.
- Is external balance on goods and services rising or falling in Greenland?
- Over the last ten years it is up 23.7%. The long-run trend across the full record is volatile.
- Where does this Greenland data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (current LCU). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.