Greenland-Denmark Bilateral Trade Analysis 2023
Complete trade statistics: $1.48B total volume •Greenland surplus: $183.43M
Greenland → Denmark
$830.43M
Exports (2023)
Denmark → Greenland
$647.00M
Imports (2023)
Trade Balance
$183.43M
Surplus for Greenland
Total Trade
$1.48B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Greenland and Denmark. Green line shows exports from Greenland, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Greenland-Denmark commercial relationship and competitive positioning in global markets.
Greenland → Denmark Exports
Export Market Intelligence
🎯 Strategic Export Focus
Greenland's export portfolio to Denmark demonstrates strategic specialization, with crustaceans: frozen, cold-water shrimps and prawns (pandalus spp., crangon crangon), in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water representing a key competitive advantage in this bilateral market.
Denmark → Greenland Imports
Import Dependency Profile
📦 Import Strategy Analysis
Greenland's import pattern from Denmark reveals strategic sourcingin iron or steel: sanitary ware and parts thereof, excluding sinks, wash basins and baths, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Greenland demonstrates competitive strength in exportingcrustaceans: frozen, cold-water shrimps and prawns (pandalus spp., crangon crangon), in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water to Denmark, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $1.48B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Greenland-Denmark Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $1.48 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Greenland maintains a surplus of $183.43 million
- Export Focus: Greenland's primary exports include crustaceans: frozen, cold-water shrimps and prawns (pandalus spp., crangon crangon), in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water, fish: frozen, halibut (reinhardtius hippoglossoides, hippoglossus hippoglossus, hippoglossus stenolepis), excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99, crustacean preparations: shrimps and prawns, prepared or preserved, in airtight containers
- Import Dependencies: Key imports from Denmark include iron or steel: sanitary ware and parts thereof, excluding sinks, wash basins and baths, crustaceans: live, fresh or chilled, cold-water shrimps and prawns (pandalus spp., crangon crangon), in shell or not, food preparations: bakers' wares n.e.c. in heading no. 1605, whether or not containing cocoa: communion wafers, empty cachets suitable for pharmaceutical use, sealing wafers, rice papers and similar products
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $1.48B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Greenland leveraging its comparative advantages in crustaceans: frozen, cold-water shrimps and prawns (pandalus spp., crangon crangon), in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Greenland's specialization in crustaceans: frozen, cold-water shrimps and prawns (pandalus spp., crangon crangon), in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in watercomplements Denmark's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in iron or steel: sanitary ware and parts thereof, excluding sinks, wash basins and baths.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $1.48B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $1.48B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $1.48 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in crustaceans: frozen, cold-water shrimps and prawns (pandalus spp., crangon crangon), in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water and iron or steel: sanitary ware and parts thereof, excluding sinks, wash basins and baths demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Greenland's trade surplus of $183.43 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Greenland and Denmark represents a total trade volume of $1.48 billion in 2023. This partnership demonstrates a favorable trade balance for Greenland, with exports exceeding importsby $183.43 million.
Export Strengths
Greenland's exports to Denmark total $830.43 million, with competitive advantages in crustaceans: frozen, cold-water shrimps and prawns (pandalus spp., crangon crangon), in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water, representing $266.78M or32.1% of bilateral exports.
Import Dependencies
Imports from Denmark amount to $647.00 million, highlighting economic interdependence in iron or steel: sanitary ware and parts thereof, excluding sinks, wash basins and baths, with Iron or steel: sanitary ware and parts thereof, excluding sinks, wash basins and baths comprising2.4% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Greenland's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Greenland and Denmark in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023