US: none (self-governing
overseas administrative division of Denmark)

Flag description: two equal horizontal bands of white (top) and
red with a large disk slightly to the hoist side of center--the top
half of the disk is red, the bottom half is white

Economy

Economy--overview: Greenland suffered negative economic growth in
the early 1990s, but since 1993 the economy has improved. The
Greenland Home Rule Government (GHRG) has pursued a light fiscal
policy since the late 1980s which has helped create surpluses in the
public budget and low inflation. Since 1990, Greenland has
registered a foreign trade deficit following the closure of the last
remaining lead and zinc mine in 1989. Greenland today is critically
dependent on fishing and fish exports; the shrimp fishery is by far
the largest income earner. Despite resumption of several interesting
hydrocarbon 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%

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 0.6% (1997 est.)

Labor force: 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--production: 245 million kWh (1996)

Electricity--production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1996)

Electricity--consumption: 245 million kWh (1996)

Electricity--exports: 0 kWh (1996)

Electricity--imports: 0 kWh (1996)

Agriculture--products: forage crops, garden vegetabl