Scandinavian Working Papers in Economics

Working Papers,
Copenhagen Business School, Department of Economics

No 05-2003: Problemer vedrørende den talmæssige belysning af betalingsbalancen for Grønland

Lars Lund
Additional contact information
Lars Lund: Department of Economics, Copenhagen Business School, Postal: Department of Economics, Copenhagen Business School, Solbjerg Plads 3 C, 5. sal, DK-2000 Frederiksberg, Denmark

Abstract: The balance of payments of Greenland has special features due to an important current transfer, bloktilskud, from Denmark. The trade balance does not exhibit a deficit of this order of magnitude but comparison of the bloktilskud and the deficit is difficult as official figures are available for the merchandise trade only. Figures for services are missing. However, guesses about the size of a deficit in the services’ trade do not easily discard the impression of a large surplus on the current account. Over a ten year period it is suggested that accumulated surpluses could be twice the level of Greenland’s GDP. This seems unlikely, but the available data raise a puzzle that ought to be addressed as it nourishes suspicion of unobserved accumulation of wealth.

Keywords: Greenland; Bloktilskud; Trade balance; GDP

JEL-codes: H00

8 pages, August 23, 2006

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