Economy of Papua New Guinea. Statistics, Data and Indicators
Papua New Guinea
| 35B | Credit rank #81 |
| N/A | Quality of life # |
| 124 | Corruption rank#129 |
| 120 | Ease of doing business#101 |
Papua New Guinea Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 26.59 USD Billion | 2021 |
| GDP Annual Growth Rate | -2.4 % | 2021 |
| GDP per capita | 2655 USD | 2021 |
| Inflation Rate YoY | 6.9 % | 1Q/22 |
| Interest Rate | 3 % | Jun/22 |
| Unemployment Rate | 2.8 % | 2021 |
| Balance of Trade | 8740 PGK Million | 2.474 B USD | 4Q/21 |
| Current Account | 6917 PGK Million | 1.958 B USD | Dec/21 |
| Foreign Exchange Reserves | 3081 USD Million | 3.081 B USD | Mar/22 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 26.59 USD Billion | 2021 |
| GDP Annual Growth Rate | -2.4 % | 2021 |
| GDP per capita | 2655 USD | 2021 |
| GDP per capita PPP | 4046 USD | 2021 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 51.5 % | 2021 |
| Government Budget to GDP | -6 % | 2021 |
| Military Expenditure | 87 USD Million | 0.087 B USD | 2020 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Food Inflation | 6.2 % | 1Q/22 |
| Inflation Rate YoY | 6.9 % | 1Q/22 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 18.6 % | 2021 |
| Balance of Trade | 8740 PGK Million | 2.474 USD Billion | 4Q/21 |
| Current Account | 6917 PGK Million | 1.958 USD Billion | Dec/21 |
| Exports | 10620 PGK Million | 3.006 USD Billion | 4Q/21 |
| Foreign Exchange Reserves | 3081 USD Million | 3.081 USD Billion | Mar/22 |
| Imports | 1880 PGK Million | 0.532 USD Billion | 4Q/21 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Gold Reserves | 1.96 Tonnes | 2Q/22 |
| Interest Rate | 3 % | Jun/22 |
| Deposit Interest Rate | 0.88 % | 2019 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 141 PGK/Week | 159.633 USD/Month | 4Q/21 |
| Unemployment Rate | 2.8 % | 2021 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 30 % | 2021 |
| Personal Income Tax Rate | 42 % | 2021 |
| Sales Tax Rate | 10 % | 2021 |
| Social Security Rate | 14.4 % | 2021 |
| Social Security Rate For Companies | 8.4 % | 2021 |
| Social Security Rate For Employees | 6 % | 2021 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Crude Oil Production | 36 BBL/D/1K | Mar/22 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Corruption Index | 31 index points | 2021 |
| Corruption Rank | 124 place | 2021 |
| Ease of Doing Business | 120 place | 2019 |
