Editing Economy of Denmark (section)

==Greenland and the Faroe Islands==

{{Main|Economy of Greenland|Economy of the Faroe Islands}}
In addition to Denmark proper, the Kingdom of Denmark comprises two [[autonomous administrative division|autonomous]] constituent countries in the [[North Atlantic Ocean]]: [[Greenland]] and the [[Faroe Islands]]. Both use the Danish krone as their currency, but form separate economies, having separate [[national accounts]] etc. Both countries receive an annual fiscal subsidy from Denmark which amounts to about 25% of Greenland's GDP and 11% of Faroese GDP.<ref>{{cite web| url = https://www.cia.gov/the-world-factbook/countries/greenland/| title = Greenland Economy – overview. The World Factbook, CIA, retrieved 7 December 2018.| date = 12 July 2022}}</ref><ref>{{cite web| url = https://www.cia.gov/the-world-factbook/countries/faroe-islands/| title = Faroe Islands Economy – overview. The World Factbook, CIA, retrieved 7 December 2018.| date = July 2022}}</ref> For both countries, the [[fishing industry]] is a major economic activity.

Neither Greenland nor the Faroe Islands are members of the European Union. Greenland left the [[European Economic Community]] in 1986, and the Faroe Islands declined membership in 1973, when Denmark joined.<ref>{{cite web | title = The Faroe Islands and the European Union | website = www.government.fo | publisher = The Government of the Faroe Islands | url = http://www.government.fo/foreign-relations/missions-of-the-faroe-islands-abroad/the-mission-of-the-faroes-to-the-european-union/the-faroe-islands-and-the-european-union/ | access-date = 23 January 2017}}</ref><ref>{{cite web | title = What is Greenland's relationship with the EU? | website = english.eu.dk | publisher = The Danish Parliament EU Information Centre | url = http://english.eu.dk/en/faq/faq/greenland | access-date=23 January 2017 | archive-url = https://web.archive.org/web/20170208224730/http://english.eu.dk/en/faq/faq/greenland | archive-date=8 February 2017}}</ref>