Economy
The currency of Greenland is Danish kroner. In 2006 the Danish Parliament passed a law allowing Greenland to have its own bank notes, koruuni. The bank notes are expected to be in circulation from 2009.

The National Budget
In 2006 the Gross National Product (GNP) of Greenland was DKK 10.5 billion, which is equivalent to around DKK 187,000 per inhabitant. By including the block grant from Denmark of DKK 3.2 billion, the available GNP was equivalent to around DKK 249,000 per inhabitant. In comparison the available GNP in Denmark was around DKK 300,000 in addition to around DKK 600 million in direct expenses for state activities.

The total export figures for 2007 amounted to around DKK 2.3 billion and import figures to around DKK 3.6 billion, equivalent to a trade balance deficit of around DKK 1.3 billion.

Exports
The export figures are dominated by Greenland's most important business, the fishing industry, which amounted to around 82% in 2007 or DKK 1.9 billion of total exports. Prawn products accounted for the majority, approximately 59% or DKK 1.1 billion. Other financially important fish products include Greenland halibut products, approxi-mately 23% or DKK 442 million; cod products, approximately 9.5% or DKK 180 million; crabs, 1.9% or DKK 37 million; scallops, 1.4% or DKK 27 million; and spawn, 1.3% or DKK 25 million. Other fish and fish products represent the remaining 3.9%.

Export of raw materials, mainly gold, has increased over the years, amounting to around DKK 232 million in 2007.
Export of seal fur coats, sealskin, sheepskin and other skins amo-unted to around DKK 11 million.

Over the years the EU has been Greenland's largest customer by far, with imports – mainly fish products – of approximately 87% in 2007. Of the EU countries, Denmark is by far the largest importer with a total of around 97% or close to DKK 2 billion.

Imports
Since Greenland has no large-scale industry, it is highly dependent on outside supplies. This includes the import of energy products, such as oil, which amounted to around DKK 883 million in 2007. Various types of vehicles, machinery, etc., had a value of close to DKK 830 million.

Greenland may be a major food exporter, but these foods are restricted to fish products. The country's limited stock of domestic animals cannot meet demand, and as a result, imports of food and agricultural products amounted to almost DKK 599 million.