The effects of Sinking Greenland into Labrador Sea on the Country’s Fishing Industry

Fishing industry has remained at the heart of Greenland’s economy for over a decade now. The industry has contributed to increase in employment and positive spin-offs in the country’s economy. Greenland’s soil quality cannot allow for farming and other related economic activities. Most people in the country live off fishing and fish is the most consumed meal in Greenland. As such, sinking the region into the Labrador Sea would have very negative results not only on the country, but also on Denmark Kingdom. Statistics show that fishing is the only economic activity that keeps Greenland and Denmark on the map.

Over the last ten years, fish exports from Greenland have witnessed a tremendous increase. Between 2006 and 2008, the amount of exports averaged at 3.2 million ISK (Gaille, 2018). Between 2009 and 2011, the amount of exports witnessed a rapid and unprecedented increase from 3.2 million ISK to 7.6 million ISK. Since then, average exports have remained high due to innovations and increase in the number of people wishing to explore new fishing techniques. The following table gives a summary of fish exports from 2006 to 2017 (Gaille, 2018).

YearExports (Million ISK)
2006-20083.2
2009-20117.6
2012-20148.5
2015-20179.5

From the data, the mean value of exports for ten years is 7.39 million ISK, implying that over the last 10 years, the country has earned an average of 7.39 million ISK. The median amount of exports is 8.08 million ISK and the mode is 9.5 million ISK. The mean, median, and mode indicates that the average exports of fish have remained quite high throughout the years. The implication of the mean export on the country’s economy is that if it sinks the Greenland Island, the economy will lose an average of 7.39 million ISK every year. As such, fishing industry will slow down, reversing its rapid expansion. The following histogram summarizes the above information to give a clear impression of the mean, mode, and the median.

            From the figure, it is clear that the period was between 2015 and 2017. Also, the mean and the median lies between 2011 and 2017. The period between 2006 and 2008 witnessed the minimum exports of fish from Greenland, making the range between the minimum export and the maximum export to be very big (7.78 million ISK). The trend, however, indicates that the fishing industry is experiencing an upward surge. In the few years coming, it will hit the maximum. Apparently, sinking Greenland into Labrador Sea would push the fishing industry to the ground.             The variance in ten-year exports is 7.50, indicating that the exports are not so much scattered from the mean (Ramachandran & Tsokos, 2009). The spread is due to the rapid

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