Gross capital formation in Greenland
Greenland: Gross capital formation was 6.51 billion constant LCU in 2023. ▲ Rising
Gross capital formation in Greenland, 2003–2023
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant LCU.
Analysis
In 2023, gross capital formation in Greenland stood at 6.51 billion constant LCU.
The figure is down 3.6% on the previous year and up 49.4% over ten years.
Over the whole period, gross capital formation in Greenland peaked at 9.01 billion constant LCU in 2011 and was at its lowest, 1.99 billion constant LCU, in 2004.
Greenland ranks 139th of 169 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 21 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.35 billion constant LCU | 1.99 billion constant LCU | 5.18 billion constant LCU | 7 |
| 2010s | 5.07 billion constant LCU | 3.40 billion constant LCU | 9.01 billion constant LCU | 10 |
| 2020s | 6.44 billion constant LCU | 5.84 billion constant LCU | 6.76 billion constant 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 gross capital formation in Greenland?
- Gross capital formation in Greenland was 6.51 billion constant LCU in 2023, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gross capital formation recorded in Greenland?
- The highest recorded value was 9.01 billion constant LCU in 2011.
- What is the lowest gross capital formation recorded in Greenland?
- The lowest recorded value was 1.99 billion constant LCU in 2004.
- How does Greenland rank for gross capital formation?
- Greenland ranks 139th out of 169 countries with data for 2023.
- Is gross capital formation rising or falling in Greenland?
- Over the last ten years it is up 49.4%. The long-run trend across the full record is rising.
- 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 Gross capital formation (constant LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 21 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Gross capital formation includes acquisitions less disposals of produced assets for purposes of fixed capital formation, inventories or valuables. 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.