Economy - overview:
The economy remains critically dependent on exports of fish and
substantial support from the Danish Government, which supplies about
half of government revenues. The public sector, including
publicly-owned enterprises and the municipalities, plays the
dominant role in the economy. Despite several interesting
hydrocarbon and minerals exploration activities, it will take
several years before production can materialize. Tourism is the only
sector offering any near-term potential, and even this is limited
due to a short season and high costs.
GDP:
purchasing power parity - $1.1 billion (2001 est.)
GDP - real growth rate:
1.8% (2001 est.)
GDP - per capita:
purchasing power parity - $20,000 (2001 est.)
GDP - composition by sector:
agriculture: NA
industry: NA
services: NA
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
1.6% (1999 est.)
Labor force:
24,500 (1999 est.)
Unemployment rate:
10% (2000 est.)