Papua New Guinea GDP Data & Country Report

Papua New Guinea Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Papua New Guinea; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION

Central bank

Bank of Papua New Guinea

International Reserves

US$ 3.122 billion (Source: World Bank; Data updated: November 2010)

Gross Domestic Product - GDP

US$ 10.98 billion (2009 estimate)

GDP (Purchasing Power Parity)

16.32 billion of International dollars (2009 estimate)

Real GDP growth

2000	2001	2002	2003	2004	2005	2006	2007
-2.5%	0%	2%	4.4%	0.6%	3.9%	2.3%	7.2%
2008	2009	2010	2011*
6.7%	5.5%	7%	8%

*Estimate

GDP per capita - current prices

US$ 1,649 (2009 estimate)

GDP per capita - PPP

$2,451 International Dollars (2009 estimate)

GDP (PPP) - share of world total

1980	1990	2000	2010	2015**
0.02%	0.02%	0.02%	0.02%	0.02%

**Forecast

GDP - composition by sector

agriculture: 33.5%
industry: 35%
services: 31.5% (2009 estimate)

(Data released on November 2010)

Gross domestic expenditure on R&D (% of GDP)

N/A

(Data released on November 2010)

Inflation

2008	2009	2010	2011*
10.8%(2008)	6.9%	6.6%	8.3%

*Estimate

Unemployment rate

2008	2009	2010	2011*
N/A	N/A	N/A(2009)	N/A

*Estimate

Household saving rates

N/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)

2007	2008	2009	2010	2011*
N/A	N/A	N/A	N/A	N/A

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)

2007	2008	2009	2010*	2011**
9%	2.5%	-7.7%	-1.2%	0.6%

*Estimate **Forecast

Government bond ratings

Standard & Poor's: B+/Stable/B

Moody's rating: B1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares

2007	2008	2009
N/A	N/A	N/A

Largest companies in Papua New Guinea

N/A

DATA ON TRADE AND COMPETITIVENESS

Current account balance

US$ -2.7 billion (2010 estimate)(After 2008)

Current account balance by percentage of GDP

-24.2% of GDP (2009 estimate)(2009)

Exports as percent of GDP

(Exports of goods and services)

57.9% (2009)

(Data released on December 2010)

Shares in world total merchandising export

0.04%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export

0.01%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exports

US$5.976 billion f.o.b. (2010 estimate)

Export commodities

oil, gold, copper ore, logs, palm oil, coffee, cocoa, crayfish, prawns

Total imports

US$3.013 billion f.o.b. (2008 estimate)

Import commodities

machinery and transport equipment, manufactured goods, food, fuels, chemicals

Exports - major partners

Australia 27.3%, Japan 9.5%, China 5.7% (2007)

Imports - major partners

Australia 51.3%, Singapore 11.6%, China 7.9%, Japan 5.7% (2007)

FDI inflows

2008	2009	2010
US$-30 million	US$423 million(2009)	US$29 million(2009)

FDI outflows

2008	2009	2010
US$0 million	US$4 million	US$0 million

Value of cross-border M&A, by country of purchaser

2008	2009	2010	2011
US$1,051 million	N/A(2009)	US$-4 million(2009)	N/A

Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 103 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 81 out of 183 countries(2009)

Registering property: 85 out of 183 countries

Paying Taxes: 101 out of 183 countries

Getting credit: 89 out of 183 countries

Protecting investors: 44 out of 183 countries

Trading across border: 96 out of 183 countries

Enforcing Contracts: 163 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)

N/A

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 131 Score: 52.6 (Mostly Unfree) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW

Time zone

UTC+10

Total area

462,840 km² (2006)

Capital

Port Moresby (2009)

Currency

kina (PGK) (2009)

Government type

constitutional parliamentary democracy and a Commonwealth realm (2009)

Languages

The three official languages are English, Tok Pisin, and Motu; there are approximately 860 other languages

Religions

Roman Catholic 27%, Evangelical Lutheran 19.5%, United Church 11.5%, Seventh-Day Adventist 10%, Pentecostal 8.6%, Evangelical Alliance 5.2%, Anglican 3.2%, Baptist 2.5%, other Protestant 8.9%, Bahai 0.3%, indigenous beliefs and other 3.3% (2000 census)

Total population

1980	1990	2000	2010*	2015**
2.96 million	3.76 million	5.13 million	6.49 million	6.79 million

*Estimate **Forecast

Urban population as % of total population

1960	1980	2000	2009
3.7%	13%	13.2%	12.5%

Population median age

20.0 years (2006)

Population growth rate

2.3% (2009)

Life expectancy

57 years (2007)

Adult literacy

58% (2000/2007)

% of population living on less than $2 a day

57.40% (2008)

Inequality of wealth distribution (Gini index)

50.9 (1996)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:4
Civil Liberties:3 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

29.6% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population

1.28% (Data were released in 2011 and refer to 2010)

Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

N/A

CO2 emissions
(Metric tons of CO2 per capita)

0.3207 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE

Papua New Guinea GDP Data & Country Report | Global Finance