United Kingdom-Greenland Bilateral Trade Analysis 2023
Complete trade statistics: $94.04M total volume •United Kingdom deficit: $85.38M
United Kingdom → Greenland
$4.33M
Exports (2023)
Greenland → United Kingdom
$89.71M
Imports (2023)
Trade Balance
$85.38M
Deficit for United Kingdom
Total Trade
$94.04M
Combined Volume
Trade Flow Visualization
Direct trade relationship between United Kingdom and Greenland. Green line shows exports from United Kingdom, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the United Kingdom-Greenland commercial relationship and competitive positioning in global markets.
United Kingdom → Greenland Exports
Export Market Intelligence
🎯 Strategic Export Focus
United Kingdom's export portfolio to Greenland demonstrates strategic specialization, with iron or steel: plaited bands, slings and the like, not electrically insulated representing a key competitive advantage in this bilateral market.
Greenland → United Kingdom Imports
Import Dependency Profile
📦 Import Strategy Analysis
United Kingdom's import pattern from Greenland reveals significant dependencyin crustacean preparations: shrimps and prawns, prepared or preserved, in airtight containers, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
United Kingdom demonstrates competitive strength in exportingiron or steel: plaited bands, slings and the like, not electrically insulated to Greenland, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $94.04M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: United Kingdom-Greenland Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $94.04 millionrepresenting a significant bilateral economic relationship
- Trade Balance: United Kingdom maintains a deficit of $85.38 million
- Export Focus: United Kingdom's primary exports include iron or steel: plaited bands, slings and the like, not electrically insulated, iron or steel: stranded wire, ropes and cables, not electrically insulated, iron or steel: articles n.e.c. in heading 7326
- Import Dependencies: Key imports from Greenland include crustacean preparations: shrimps and prawns, prepared or preserved, in airtight containers, fish fillets: frozen, cod (gadus morhua, gadus ogac, gadus macrocephalus), crustacean preparations: shrimps and prawns, prepared or preserved, not in airtight containers
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 $94.04M 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 United Kingdom leveraging its comparative advantages in iron or steel: plaited bands, slings and the like, not electrically insulated.
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
United Kingdom's specialization in iron or steel: plaited bands, slings and the like, not electrically insulatedcomplements Greenland's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in crustacean preparations: shrimps and prawns, prepared or preserved, in airtight containers.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $94.04M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $94.04M 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 $94.04 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in iron or steel: plaited bands, slings and the like, not electrically insulated and crustacean preparations: shrimps and prawns, prepared or preserved, in airtight containers demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
United Kingdom's trade deficit of $85.38 million impacts 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 United Kingdom and Greenland represents a total trade volume of $94.04 million in 2023. This partnership demonstrates an unfavorable trade balance for United Kingdom, with imports exceeding exportsby $85.38 million.
Export Strengths
United Kingdom's exports to Greenland total $4.33 million, with competitive advantages in iron or steel: plaited bands, slings and the like, not electrically insulated, representing $1.99M or46.0% of bilateral exports.
Import Dependencies
Imports from Greenland amount to $89.71 million, highlighting economic interdependence in crustacean preparations: shrimps and prawns, prepared or preserved, in airtight containers, with Crustacean preparations: shrimps and prawns, prepared or preserved, in airtight containers comprising51.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates United Kingdom's strategic sourcing from Greenland. 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 United Kingdom and Greenland in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023