• Analysis and Studies
• Greenland: a look at the market (1)

Overview

In 2022, Greenland ranked as the 152nd economy globally for total exports and 183rd for total imports. While modest in scale, Greenland's trade activities reflect its reliance on natural resources and its strategic geographical location.

Exports

Greenland’s exports are dominated by seafood, highlighting the importance of its marine resources. The leading exports include crustaceans ($542 million), non-fillet frozen fish ($498 million), processed crustaceans ($259 million), fish fillets ($121 million), and dried, salted, smoked, or brined fish ($21.3 million). These exports primarily target Denmark ($731 million), followed by China ($353 million), the United Kingdom ($86 million), Japan ($77 million), and Chinese Taipei ($51.1 million). This trade pattern underscores Greenland’s role in supplying high-quality seafood to key global markets.

Imports

Greenland’s import profile reflects its dependence on foreign goods to sustain its infrastructure and energy needs. The top imports include refined petroleum ($256 million), planes, helicopters, and spacecraft ($93.1 million), large construction vehicles ($18.4 million), iron toiletries ($14.8 million), and iron structures ($14 million). These imports predominantly come from Denmark ($587 million), with significant contributions from Sweden ($230 million), France ($99.5 million), Iceland ($28.2 million), and Canada ($27.8 million). This reliance on imports indicates Greenland’s need for specialized machinery, construction equipment, and energy resources.

Location

Strategically situated, Greenland shares maritime borders with Canada, Iceland, and Norway. This location places it at the crossroads of Arctic trade routes, emphasizing its potential importance in global shipping and resource extraction as Arctic accessibility evolves.

Source: https://oec.world/en