none (self-governing overseas administrative division of Denmark)
Flag description:
two equal horizontal bands of white (top) and red with a large disk slightly to the hoist side of center - the top half of the disk is red, the bottom half is white; the design represents the sun reflecting off a field of ice; the colors are the same as those of the Danish flag and symbolize Greenland's links to the Kingdom of Denmark
Economy ::Greenland
Economy - overview:
The economy remains critically dependent on exports of shrimp and fish and on a substantial subsidy - about $700 million in 2008-09 - from the Danish Government, which supplies about 60% of government revenues. The public sector, including publicly-owned enterprises and the municipalities, plays the dominant role in the economy. Several interesting hydrocarbon and mineral exploration activities are ongoing and in 2007 a US firm signed an agreement with the Greenland Home Rule government to study the feasibility of building a multi-billion dollar aluminum smelter and hydropower plant. Denmark plans to reduce its subsidies to Greenland as revenues from oil exports come onstream.
GDP (purchasing power parity):
$1.1 billion (2001 est.) country comparison to the world: 195
GDP (official exchange rate):
$1.7 billion (2005)