Analyses focus on current issues of particular relevance to Danmarks Nationalbank’s objectives. The analyses may also contain Danmarks Nationalbank’s recommendations. They include our projections for the Danish economy and our assessment of financial stability. Analyses are targeted at people with a broad interest in economic and financial matters.
Reforms can make Greenland's economy more self-sustaining
Greenland's economy has slowed down after a few years of favourable times for fishing and a significant expansion of infrastructure. GDP growth since 2023 has been around 1 per cent per year, but there are still signs of capacity pressures in the economy. A significant labour shortage is building up, with increasing dependence on foreign labour. At the same time, an ageing population is putting pressure on the economy. An ambitious reform agenda should future-proof the public economy and the labour market.
Key messages
Why is it important?
Danmarks Nationalbank is the central bank for the entire Danish Realm. We are therefore responsible for analysing developments in the Greenlandic and Faroese economies. to live up to our purpose of ensuring stable prices and ensuring the best basis for assessing the possible emergence of socio-economic imbalances.
Main chart
Facts about the Greenland economy
Note:
(*) Estimates of real GDP growth and increase in consumer prices from the Greenland Economic Council, September 2024.
Source:
Statistics Greenland, Finance Act 2025 and Economic Council.