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 | 26.59 USD Billion | 2021 |
| GDP Annual Growth Rate | 1.5 % | 2021 |
| GDP per capita | 2413 USD | 2021 |
| Inflation Rate YoY | 3.41 % | 4Q/22 |
| Interest Rate | 3.5 % | Apr/23 |
| Unemployment Rate | 2.8 % | 2022 |
| Balance of Trade | 10731 PGK Million | 3.044 B USD | 4Q/22 |
| Current Account | 10712 PGK Million | 3.039 B USD | Dec/22 |
| Foreign Exchange Reserves | 3918 USD Million | 3.918 B USD | Mar/23 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 26.59 USD Billion | 2021 |
| GDP Annual Growth Rate | 1.5 % | 2021 |
| GDP per capita | 2413 USD | 2021 |
| GDP per capita PPP | 3677 USD | 2021 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 51.5 % | 2021 |
| Government Budget to GDP | -5.6 % | 2022 |
| Military Expenditure | 88.7 USD Million | 0.089 B USD | 2021 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Food Inflation | 9.5 % | 4Q/22 |
| Inflation Rate YoY | 3.41 % | 4Q/22 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 22.1 % | 2022 |
| Balance of Trade | 10731 PGK Million | 3.044 USD Billion | 4Q/22 |
| Current Account | 10712 PGK Million | 3.039 USD Billion | Dec/22 |
| Exports | 12859 PGK Million | 3.648 USD Billion | 4Q/22 |
| Foreign Exchange Reserves | 3918 USD Million | 3.918 USD Billion | Mar/23 |
| Imports | 2128 PGK Million | 0.604 USD Billion | 4Q/22 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Gold Reserves | 1.96 Tonnes | 1Q/23 |
| Interest Rate | 3.5 % | Apr/23 |
| Deposit Interest Rate | 0.24 % | 2022 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 141 PGK/Week | 160 USD/Month | 4Q/22 |
| 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 | 35 BBL/D/1K | Jan/23 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Corruption Index | 30 index points | 2022 |
| Corruption Rank | 130 place | 2022 |
| Ease of Doing Business | 120 place | 2019 |
