Bank Name Swift Code Address
NUNA BANK NUNAGLG1
 

Equivalent Codes:
NUNAGLG1 XXX
NUNAGLG1XXX
NUNA GL G1
NUNA GL G1 XXX

Swift code breakdown:NUNA: Bank code
GL: Country Code
G1 : Location Code
XXX : Branch Code
A SKIBSHAVNSVEJ 33,
NUUK (GODTHAAB)
GREENLAND
THE BANK OF GREENLAND GRENGLGX

Equivalent Codes:
GRENGLGX XXX
GRENGLGXXXX
GREN GL GX
GREN GL GX XXX

Swift code breakdown:GREN: Bank code
GL: Country Code
GX : Location Code
XXX : Branch Code
GRONLANDSBANKEN , P.O. BOX 1033 ,
DK-3900 GODTHAAB
GREENLAND
 

Economy of Greenland
Greenland today is critically dependent on fishing and fish exports. The shrimp fishing industry is by far the largest income earner. Despite resumption of several interesting hydrocarbon and mineral exploration activities, it will take several years before hydrocarbon production can materialize. The state oil company NUNAOIL was created in order to help develop the hydrocarbon industry in Greenland. The state company Nunamineral has been launched on the Copenhagen Stock Exchange to raise more capital to increase the production of gold, started in 2007.

Mining of ruby deposits began in 2007. Other mineral prospects are improving as prices are increasing. These include uranium, aluminium, nickel, platinum, tungsten, titanium and copper.

The public sector, including publicly owned enterprises and the municipalities, plays a dominant role in Greenland's economy. About half the government revenues come from grants from the Danish government, an important supplement to the gross domestic product (GDP). Gross domestic product per capita is equivalent to that of the average economies of Europe.

Greenland suffered an economic contraction in the early 1990s, but since 1993 the economy has improved. The Greenland Home Rule Government (GHRG) has pursued a tight fiscal policy since the late 1980s which has helped create surpluses in the public budget and low inflation. Since 1990, Greenland has registered a foreign trade deficit following the closure of the last remaining lead and zinc mine that year. More recently, new sources of ruby in Greenland have been discovered promising to bring new industry and a new export to the country. (See Gemstone industry in Greenland).