Practical Tips for Doing Business in Greenland
General Background
80% of the country is covered with ice.
There are very few roads - only 150 kilometers in the entire country.
Dogs are not pets but instead are used by police and for transportation.
Brief History
4000 -5000 years ago the Inuit people from an area that is now Canada settled in the area now known as Greenland.
10th Century - Vikings came to the area.
18th Century - Danish colonization began.
1953 - Officially became part of Denmark.
1979 - Greenland granted self-government by Denmark.
(Note: Denmark still handles foreign affairs, security and financial matters, in consultation with Greenland's government.)
General Information
Location: Northern North America between the Arctic Ocean and North Atlantic Ocean, northeast of Canada.
Government Type: Parliamentary democracy.
Capital City: Nuuk (population - 18,000).
Literacy Rate: 100%.
Size: Slightly more than 3 times the size of Texas (Note: largest island in the world).
Population: 57,777.
Population Growth Rate: 0.04% (2023).
Population Distribution: Southwest shoreline with limited settlements scattered along the remaining coast. Its Interior is uninhabited.
The official language is Greenlandic, an Intuit language. Its school system is bilingual (Greenlandic and Danish). English is not widely spoken but is taught as a foreign language in the schools.
The Economy
Major industries include fish processing (mainly shrimp and halibut), anorthosite and ruby mining, handicrafts, hides and skins and small shipyards.
Unemployment Rate: 3.7% (2021).
GDP: $2.413B (2015).
GDP Growth Rate: 0.36% (2020 est.).
Labor Force: 26,840 (2015).
Labor Force Breakdown: Agriculture (sheep, cattle, reindeer, fish, shellfish) - 15.9%, Manufacturing - 10.1%, Services - 73.9% (2015).
International Trade
Total Exports: $641M (2018)
Major Exports: Frozen Halibut: $141M, Frozen Shrimp: $137M, Prepared Seafood: $127M, Fresh or Chilled Mackerel: $49M (2018).
Major Export Partners: Denmark: $547M, Unspecified: $50M, Latvia: $24M, Portugal: $6M, Russia: $4M (2018).
Total Imports: $829M (2018)
Major Imports: Petroleum: $135M, Fishing Vessels: $91M, Aircraft Parts: $19M, Medicines: $12M, Bread etc.: $10M (2018).
Major Import Partners: Denmark: $449M, Sweden: $142M, Spain: $95M, Germany: $21M, China: $20M (2018).
English Language News
Ground News - general news - https://ground.news/interest/greenland
Sampling of Greenland Companies
Nunaoil - oil & gas - exploration & production - www.nunaoil.gl - Nuuk
Bank of Greenland - banks - www.banken.gl - Nuuk
Royal Greenland - farming & fishing - www.royalgreenland.com - Nuuk
Nukissiorfiit - alternative electricity - www.nukissiorfiit.gl - Nuuk
Brugsen - food retailer & wholesaler - www.brugsen.gl - Nuuk
Arctic Umiaq Line - marine transportation - www.aul.gl - Nuuk
Polar Seafood Greenland A/S - seafood processors - www.polarseafood.com - Nuuk
Diskoline - marine freight transportation - www.diskoline.gl – Ilulissat
By Paul Mastilak
InterMark3, Inc.