Foreign Trade

Greenland has a one-sided production and demands a wide range of goods, which necessitates extensive foreign trading. Apart from fishing and hunting, Greenland has a very limited domestic production of commodities. This causes import to include more or less all goods necessary in households, businesses and institutions.

As the majority of Greenland´s exports consist of fish and shellfish, Greenland is very dependent on the fishing sector and the international buyer prices. The fishing industry provides over 90 per cent of Greenland´s export. The most important species are Codfish, Greenland halibut, mackerel, crab and prawn.

Trade balance is a measure of export value minus import value of goods.