Greenland: Merchandise trade (% of GDP)
In , Greenland's Merchandise trade (% of GDP) was 59.19.
That's down 3.1% from 2022, the highest value since .
The global average for this indicator in 2023 was 64.89 .
Source: World Bank Open Data (TG.VAL.TOTL.GD.ZS) • Data as of 2023
Trend (2005–2023)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 61.10
- Trough
- 42.94
- 1-year change
- -3.1%
- 5-year change
- +18.4%
- +3.4% / yr
- 10-year change
- +6.2%
- +0.6% / yr
Historical Data — Last 10 Years
| Year | Merchandise trade (% of GDP) |
|---|---|
| 59.1906 | |
| 61.0976 | |
| 56.7164 | |
| 57.3856 | |
| 60.4542 | |
| 50.0036 | |
| 47.5520 | |
| 48.3536 | |
| 42.9352 | |
| 50.1748 |
About Merchandise trade (% of GDP)
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.
Indicator code: TG.VAL.TOTL.GD.ZS • Category: Trade & Finance
Frequently asked questions
- What was Greenland's Merchandise trade (% of GDP) in 2023?
- In 2023, Greenland's Merchandise trade (% of GDP) was 59.19, according to World Bank Open Data.
- Is Greenland's Merchandise trade (% of GDP) rising or falling?
- Greenland's Merchandise trade (% of GDP) fell 3.1% from 2022 to 2023.
- How does Greenland's Merchandise trade (% of GDP) compare to the world average?
- The global average for Merchandise trade (% of GDP) in 2023 was 64.89, so Greenland is below the world average.
- What is Merchandise trade (% of GDP) and how is it measured?
- 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.
Source: World Bank Open Data (TG.VAL.TOTL.GD.ZS), CC BY 4.0.