Finance of Greenland

The minimum monthly wage in Greenland is 1596 USD. Greenland has a government debt of 18.8% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Greenland is 2.8%. The currency of Greenland is Danish krone. The plural form of the word Danish krone is kroner. The symbol used for this currency is kr, and it is abbreviated as DKK. The Danish krone is divided into ore; there are 100 in one krone. Each year, consumers spend around $408 million. The ratio of consumer spending to GDP in Greenland is 0.02%, and the ratio of consumer spending to the world consumer market is 0.12%. The corporate tax in Greenland is set at 30%. VAT in Greenland is 25%.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Greenland is $2 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Greenland was last recorded at $37,709. PPP in Greenland is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Greenland is 2,418 billion. Based on this statistic, Greenland is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Greenland was last recorded at $42,747,282. The average citizen in Greenland has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Greenland averaged 3% in 2014. According to this percentage, Greenland is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.