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Papua New Guinea GDP and Economic Data

Country Report 2017 - Includes Papua New Guinea real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Papua New Guinea economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Papua New Guinea best banks and safest banks are also available.

 
 
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Central bank

Bank of Papua New Guinea

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International Reserves

USD 1.7 billion (2015)

International Monetary Fund (IMF), data retrieved January 2017

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Gross Domestic Product - GDP

USD 20.8 billion (2017, estimate)

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GDP (Purchasing Power Parity)

Intl$ 29.5 billion (2017, estimate)

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Real GDP growth
2006 2007 2008 2009 2010 2011 2012
2.3% 8.7% 3.6% 2.9% 11.6% 3.7% 6.1%
2013 2014* 2015* 2016* 2017*    
4.7% 7.4% 6.6% 2.5% 3%    

*Estimate

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GDP per capita - current prices

USD 2,560.4 (2017, estimate)

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GDP per capita - PPP

Intl$ 3,634.1 (2017, estimate)

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GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
0.02% 0.01% 0.01% 0.01% 0.02%

*Estimate

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GDP - composition by sector
  • agriculture: 22.3% 
  • industry: 37.6% 
  • services: 40.1%

(2016 estimate)

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

N/A

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Inflation
2013 2014* 2015* 2016* 2017*
5.0% 5.2% 6.0% 6.9% 7.5%

*Estimate

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Unemployment rate
2013 2014 2015 2016 2017
N/A N/A N/A N/A N/A

*Estimate

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Household saving rates

N/A

 

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Public debt (General government gross debt as a % of GDP)
2013 2014* 2015* 2016* 2017*
25% 28.1% 30.6% 34.3% 36.5%

*Estimate

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Public deficit (General government net lending/borrowing as a % of GDP)
2013 2014* 2015* 2016* 2017*
-6.9% -6.5% -5.1% -5% -5.2%

*Estimate 

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Government bond ratings

Standard & Poor's: B+

Moody's: B2

Standard & Poor's / Moody's (Updated as of January 24th 2017)

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Market value of publicly traded shares
2013 2014 2015
N/A N/A N/A
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Largest companies

N/A

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Current account balance

USD 1.3 billion (2017 estimate)

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Current account balance by percentage of GDP

6.1% (2017 estimate)

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Exports as percent of GDP (Exports of goods and services)

66.2% (2006)

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Shares in world total merchandising export

0.03% (2015)​

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Shares in world total commercial services export

0.002% (2015)

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Total exports

USD 7.9 billion (2016 estimate)

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Export commodities

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

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Total imports

USD 1.8 billion (2016 estimate)

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Import commodities

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

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Exports - major partners

Japan 17.4%, Australia 15.9%, China 12.1% (2015)

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Imports - major partners

Australia 25.9%, China 20%, Singapore 12.6%, Malaysia 7.2%, US 4.2%, Indonesia 4.1%, South Korea 4% (2015)

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FDI inflows
2013 2014 2015
USD 18 million USD -30 million USD -28 million
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FDI outflows
2013 2014 2015
N/A N/A USD 174 million
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Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
N/A N/A USD 1115.9 million USD 70.7 million
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Cross-border M&A deals worth over $3 billion completed in 2014

N/A

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Cross-border M&A deals worth over $3 billion completed in 2015

N/A

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Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 119 out of 190 countries (2017)

Subcategories:

Starting a business: 130 out of 190 countries

Enforcing Contracts: 170 out of 190 countries

Registering Property: 119 out of 190 countries

Getting Credit: 32 out of 190 countries

Protecting Minority Investors: 87 out of 190 countries

Trading Across Borders: 164 out of 190 countries

Paying Taxes: 94 out of 190 countries

Dealing with Construction Permits: 126 out of 190 countries

Getting Electricity: 103 out of 190 countries

Resolving Insolvency: 137 out of 190 countries

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Global competitiveness ranking

N/A

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Index of Economic Freedom

Ranking: 140 / Score: 53.15 (Mostly unfree) (2016)

(100=totally free 0=totally repressed)

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Time zone

UTC+10

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Total area

462,840 sq km

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Capital

Port Moresby

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Currency

Kina (PGK)

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Government type

Parliamentary democracy (National Parliament) under a constitutional monarchy; a Commonwealth realm

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Languages

Tok Pisin (official), English (official), Hiri Motu (official), some 836 indigenous languages spoken (about 12% of the world's total); most languages have fewer than 1,000 speakers

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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)

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Total population
1990 2000 2010 2016* 2021*
3.758 million 5.13 million 6.604 million 7.911 million 9.038 million

*Estimate

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Urban population as % of total population
1960 1980 2000 2015
4% 13% 13% 13%
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Population median age

22.9 years (2016 estimate)

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Population growth rate

1.75% (2016 estimate)

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Life expectancy

67.2 years (2016 estimate)

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Literacy

Total population: 64.2%
Male: 65.6%
Female: 62.8% (2015 est.)

(age 15 and over can read and write)

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% of population living on less than $3.10 a day

N/A

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Inequality of wealth distribution (Gini index)

N/A

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Freedom House rating

Political Rights: 3
Civil Liberties: 3 (2017)                         

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

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Total telephone subscribers as % of population

Fixed 1.97%   Mobile 46.65% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)

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Internet users as % of total population

7.9% (2015)

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Mercer Cost of living index

N/A

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CO2 emissions

0.8 (2013)

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