of vote by party NA; seats - (27 total) Siumut 11, Atassut Party 8, Inuit
Ataqatigiit 5, Center Party 2, Polar Party 1
Member of:
NC
Diplomatic representation:
none (self-governing overseas administrative division of Denmark)
Flag:
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

:Greenland Economy

Overview:
Over the past 25 years, the economy has changed from one based on
subsistence whaling, hunting, and fishing to one dependent on foreign trade.
Fishing is still the most important industry, accounting for over 75% of
exports and about 25% of the population's income. Maintenance of a social
welfare system similar to Denmark's has given the public sector a dominant
role in the economy. In 1990, the economy became critically dependent on
shrimp exports and on an annual subsidy (now about $500 million) from the
Danish Government because cod exports dropped off and commercial mineral
production stopped. As of 1992, the government also has taken control of the
health sector from Denmark. The new Home Rule government installed in March
1991 has decided to end much of the central control of the economy and to
open it wider to competitive forces.
GNP:
purchasing power equivalent - $500 million, per capita $9,000; real growth
rate 5% (1988)
Inflation rate (consumer prices):
l.6% (1991)
Unemployment rate:
9% (1990 est.)
Budget:
revenues $381 million; expenditures $381 million, including capital
expenditures of $36 million (1989)
Exports:
$435 million (f.o.b., 1990 est.)
commodities:
fish and fish products 83%, metallic ores and concentrates 13%
partners:
Denmark 79%, Benelux 9%, Germany 5%
Imports:
$420 million (c.i.f., 1990 est.)
commodities:
manufactured goods 28%, machinery and transport equipment 24%, food and live
animals 12.4%, petroleum and petroleum products 12%
partners:
Denmark 65%, Norway 8.8%, US 4.6%, Germany 3.8%, Japan 3.8%, Sweden 2.4%
External debt:
$480 million (1990 est.)
Industrial production:
growth rate NA%
Electricity:
84,000 kW capacity; 176 million kWh produced, 3,180 kWh per capita (1991)
Industries:
fish processing (mainly shrimp), potential for platinum and gold mining,
handicrafts, shipyards
Agriculture:
sec