{"id":7791,"date":"2026-01-19T12:12:54","date_gmt":"2026-01-19T10:12:54","guid":{"rendered":"https:\/\/nicola-bernard.de\/?p=7791"},"modified":"2026-01-19T12:12:54","modified_gmt":"2026-01-19T10:12:54","slug":"greenland-geopolitics-and-economic-reality","status":"publish","type":"post","link":"https:\/\/nicola-bernard.de\/en\/greenland-geopolitics-and-economic-reality\/","title":{"rendered":"Greenland: Geopolitics and Economic Reality"},"content":{"rendered":"

Greenland<\/strong> is currently the subject of increased international attention. This is primarily due to the island’s strategic location and its reserves of critical raw materials<\/strong>. At the same time, the economic structure remains clearly dominated by traditional sectors and close ties to Denmark<\/strong>.<\/p>\n

Economic and trade ties with Europe<\/strong><\/p>\n

Although Greenland is not a member of the EU, it benefits from trade advantages through its<\/strong> OCT status<\/strong>. Between 2021 and 2027, \u20ac225 million in EU funds<\/strong> will be invested in sustainable development, education and green growth. This will be supplemented by Danish grants and EU programmes such as Global Gateway<\/strong> and the Arctic Strategy<\/strong>. The memorandum of understanding on critical raw materials signed in 2023 also positions Greenland as a potential raw materials partner for Europe<\/strong>.<\/p>\n

Transforming infrastructure and investment frameworks<\/strong><\/p>\n

The geographical conditions place high demands on logistics and transport, as over 81 per cent of the island is covered by ice<\/strong>. However, with the expansion of Nuuk Airport in November 2024 and a Danish investment package of around 220 million euros<\/strong>, important foundations for better connectivity have been laid. Planned projects such as a deep-water port in Qaqortoq and an airport in Ittoqqortoormiit by 2029 are intended to further support economic development. At the same time, a new<\/strong> investment control system<\/strong> has been in place since 1 January 2026, which requires foreign investments in sensitive areas of 25 per cent or more to be approved, thus setting clear framework conditions for direct investment.<\/p>\n

Trade: Dominance of fishing<\/strong><\/p>\n

Over 90 per cent of exports are fishery products<\/strong>, which were worth the equivalent of 679.7 million euros in 2024. Machinery and transport equipment<\/strong> played only a minor role, accounting for 10.2 million euros. Denmark is the most important trading partner, while Germany purchased fish and meat preparations worth 22.5 million euros in 2024.<\/p>\n

On the import side, Greenland is dependent on machinery<\/strong>, transport technology<\/strong> and mineral oils<\/strong>, mainly from Denmark and Sweden. Although Germany is one of the six most important trading partners, trade volumes are low.<\/p>\n

Raw materials and labour market<\/strong><\/p>\n

Despite known deposits of rare earths<\/strong> (over 36.1 million tonnes according to data from the Danish and Greenlandic government agency) and other critical raw materials such as gold, zinc, nickel, tungsten and copper<\/strong>, their economic use has been marginal to date. High extraction costs, difficult logistics and a lack of infrastructure<\/strong> currently prevent profitable exploitation. Raw materials are therefore strategically important, but not yet economically relevant.<\/p>\n

The labour market is predominantly shaped by the public sector<\/strong>. A large proportion of employees work for local authorities or the Greenlandic government. Other important sectors include fishing, hunting, construction, wholesale and retail trade.<\/p>\n

 <\/p>\n

Source: GTAI<\/a> (in German)<\/p>\n","protected":false},"excerpt":{"rendered":"

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