Fishing, sealing, and fur trapping are the principal economic activities in Greenland, which must rely on large amounts of financial support from Denmark. The fish catch is primarily cod, shrimp, and salmon; fish processing is the major manufacturing industry. Agriculture is only possible on one percent of Greenland's total area. Cattle, sheep, and goats are raised in small numbers in some portions of the southwestern coast, and hardy vegetables are grown. Greenland was formerly the world's main source of natural cryolite, a mineral used in the manufacture of aluminum, but by the late 1980s, reserves were exhausted. Lead and zinc were also produced until the mines were exhausted in 1990, and deposits of coal and uranium are known to exist. Denmark is Greenland's largest trading partner, and its main exports are fish, hides and skins, and fish oil. Thule Air Base (formerly Dundas) in the north supports a community of American and Danish civilian and military personnel.

The economy remains critically dependent on exports of fish and substantial support from the Danish Government, which supplies about half of government revenues. The public sector, including publicly owned enterprises and the municipalities, plays the dominant role in the economy. Despite several interesting hydrocarbon and minerals exploration activities, it will take several years before production can materialize. Tourism is the only sector offering any near-term potential, and even this is limited due to a short season and high costs.