arbon and
minerals exploration activities, it will take several years before
production can materialize. Tourism is the only sector offering any
near-term potential and even this is limited due to a short season and
high costs. The public sector, including publicly owned enterprises
and the municipalities, plays the dominant role in Greenland's
economy. About half the government revenues come from grants from the
Danish Government, an important supplement of GDP.

GDP: purchasing power parity-$945 million (1997 est.)

GDP-real growth rate: 0.6% (1997 est.)

GDP-per capita: purchasing power parity-$16,100 (1997 est.)

GDP-composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Inflation rate-consumer price index: 0.6% (1997 est.)

Labor force:
total: 24,500 (1995 est.)

Unemployment rate: 10.5% (1995 est.)

Budget:
revenues: $706 million
expenditures: $697 million, including capital expenditures of $NA
(1995)

Industries: fish processing (mainly shrimp), handicrafts, furs, small
shipyards

Industrial production growth rate: NA%

Electricity-capacity: 106,000 kW (1995)

Electricity-production: 245 million kWh (1995)

Electricity-consumption per capita: 4,253 kWh (1995)

Agriculture-products: forage crops, small garden vegetables; sheep,
fish

Exports:
total value: $363.4 million (f.o.b., 1995)
commodities: fish and fish products 95%
partners: Denmark 89%, Japan 5%, UK 5%

Imports:
total value: $421 million (c.i.f., 1995)
commodities: machinery and transport equipment 25%, manufactured goods
18%, food and live animals 11%, petroleum products 6%
partners: Denmark 7.5%, Iceland 3.8%, Japan 3.3%, Norway 3.1%, US
2.4%, Germany 2.4%, Sweden 1.8%

Debt-external: $243 million (1995)

Economic aid: substantial annual subsidy from Denmark-$427 million
(1995)

Currency: 1 Danish krone (DKr) = 100 oere

Exchange rates: Danish kroner (DKr) per US$1-6.916 (January 1998),
6.604 (1997), 5.799 (1996), 5.602 (1995), 6.361 (1994), 6.484 (1993)

Fiscal year: calendar year

Communications

Telephones: 19,600 (1995 est.)

Telephone system: adequate domestic and international service provided
by cables and microwave radio relay; totally digitalized in 1995
domestic: microwave radio relay
international: 2 coaxial submarine cables; satellite earth station-1
Intelsat (Atlantic Ocean)

Radio broadcast stations: one publicly-owned radio and television
station (nationwide) and some local radio