Economy of Papua New Guinea. Statistics, Data and Indicators
Papua New Guinea
| 35B | Credit rank #81 |
| N/A | Quality of life # |
| 130 | Corruption rank#129 |
| 120 | Ease of doing business#101 |
Papua New Guinea Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 30.63 USD Billion | 2022 |
| GDP Annual Growth Rate | 3.7 % | 2022 |
| GDP per capita | 2471 USD | 2022 |
| Inflation Rate YoY | 1.68 % | 1Q/23 |
| Interest Rate | 3 % | Oct/23 |
| Unemployment Rate | 2.8 % | 2022 |
| Balance of Trade | 10089 PGK Million | 2.7 B USD | 1Q/23 |
| Current Account | 9479 PGK Million | 2.537 B USD | Mar/23 |
| Foreign Exchange Reserves | 3860 USD Million | 3.86 B USD | Apr/23 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 30.63 USD Billion | 2022 |
| GDP Annual Growth Rate | 3.7 % | 2022 |
| GDP per capita | 2471 USD | 2022 |
| GDP per capita PPP | 3766 USD | 2022 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 49.8 % | 2022 |
| Government Budget to GDP | -5.6 % | 2022 |
| Military Expenditure | 97.5 USD Million | 0.098 B USD | 2022 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Food Inflation | 8.7 % | 1Q/23 |
| Inflation Rate YoY | 1.68 % | 1Q/23 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 22.1 % | 2022 |
| Balance of Trade | 10089 PGK Million | 2.7 USD Billion | 1Q/23 |
| Current Account | 9479 PGK Million | 2.537 USD Billion | Mar/23 |
| Exports | 11845 PGK Million | 3.171 USD Billion | 1Q/23 |
| Foreign Exchange Reserves | 3860 USD Million | 3.86 USD Billion | Apr/23 |
| Imports | 1756 PGK Million | 0.47 USD Billion | 1Q/23 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Gold Reserves | 1.96 Tonnes | 2Q/23 |
| Interest Rate | 3 % | Oct/23 |
| Deposit Interest Rate | 0.24 % | 2022 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 141 PGK/Week | 150.964 USD/Month | 1Q/23 |
| Unemployment Rate | 2.8 % | 2022 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 30 % | 2023 |
| Personal Income Tax Rate | 42 % | 2023 |
| Sales Tax Rate | 10 % | 2023 |
| Social Security Rate | 14.4 % | 2023 |
| Social Security Rate For Companies | 8.4 % | 2023 |
| Social Security Rate For Employees | 6 % | 2023 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Crude Oil Production | 32 BBL/D/1K | May/23 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Corruption Index | 30 index points | 2022 |
| Corruption Rank | 130 place | 2022 |
| Ease of Doing Business | 120 place | 2019 |
