Exporting

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Greenland, the world's largest island, is about 81% ice-capped. Vikings reached the island in the 10th century from Iceland; Danish colonization began in the 18th century, and Greenland became an integral part of the Danish Realm in 1953. It joined the European Community (now the EU) with Denmark in 1973 but withdrew in 1985 over a dispute centered on stringent fishing quotas. Greenland remains a member of the Overseas Countries and Territories Association of the EU. Greenland was granted self-government in 1979 by the Danish parliament; the law went into effect the following year. Greenland voted in favor of increased self-rule in November 2008 and acquired greater responsibility for internal affairs when the Act on Greenland Self-Government was signed into law in June 2009. Denmark, however, continues to exercise control over several policy areas on behalf of Greenland, including foreign affairs, security, and financial policy in consultation with Greenland's Self-Rule Government.

Location

Northern North America, island between the Arctic Ocean and the North Atlantic Ocean, northeast of Canada

Natural Resources

coal, iron ore, lead, zinc, molybdenum, diamonds, gold, platinum, niobium, tantalite, uranium, fish, seals, whales, hydropower, possible oil and gas

Population - distribution

settlement concentrated on the southwest shoreline, with limited settlements scattered along the remaining coast; interior is uninhabited

Greenlandic (East Inuit) (official), Danish (official), English
NUUK (capital) 17,000 (2014)
Conventional long form
none
Conventional short form
Greenland
Local long form
none
Local short form
Kalaallit Nunaat
parliamentary democracy (Parliament of Greenland); part of the Kingdom of Denmark
Name
Nuuk
Geographic coordinates
64 11 N, 51 45 W
Time difference
UTC-3 (2 hours ahead of Washington, DC, during Standard Time)
Daylight saving time
+1hr, begins last Sunday in March; ends last Sunday in October
Greenland’s economy depends on exports of shrimp and fish, and on a substantial subsidy from the Danish Government. Fish account for over 90% of its exports, subjecting the economy to fluctuations in world demand. The subsidy from the Danish Government is budgeted to be about $535 million in 2017, more than 50% of government revenues, and 25% of GDP.
Inflation
None%
Total tax rate (% of commercial profits)
None%
Real Interest Rate
None%
Manufacturing, value added (% of GDP)
None%
Current Account Balance
US$
Labor Force, Total
Employment in Agriculture
%
Employment in Industry
%
Employment in Services
%
Unemployment Rate
%
Imports of goods and services
US$
Exports of goods and services
US$
Total Merchandise Trade
%
FDI, net inflows
US$
Commercial Service Exports
US$
sheep, cow, reindeer, fish
fish processing (mainly shrimp and Greenland halibut); gold, zinc, anorthosite and ruby mining; handicrafts, hides and skins, small shipyards
Commodities
fish and fish products 91% (2015 est.)
Partners
Denmark 76%, Portugal 9.7%, Iceland 4.2% (2015)
Commodities
machinery and transport equipment, manufactured goods, food, petroleum products
Partners
Denmark 71%, Sweden 12.7%, Iceland 5.1% (2015)
Country Risk Rating
Business Climate Rating

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