Papua New Guinea: Economy

Economic Trivia

Papua New Guinea contains almost 155 billion cubic meters of natural gas reserves, providing for a huge export opportunity for the country.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2012): Australia, Singapore, and Japan
Top 3 Exported Goods (2012): Precious Stones & Metals, Ores, and Fats & Oils

Top Industries Source: CIA World Factbook

Copra Crushing; Palm Oil Processing; Plywood Production; Wood Chip Production

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $21,384,483,997 (2014)
GDP Growth Rate (annual %) 8.534% (2014)
GDP Per Capita, PPP (current international) $2,865 (2014)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 138/193 (2014)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) 5.208% (2014)
External debt stocks, total (DOD, current US$) $20,920,347,000 (2014)
Total tax rate (% of commercial profits) 39.3% (2015)
Real Interest Rate (5 year average %) -1.441% (2014)
Manufacturing, value added (% of GDP) 5.99% (2012)
Current Account Balance (BoP, current US$) $2,386,867,556 (2014)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 3,365,826 (2014)
Employment in Agriculture (% of total employment) 72.3% (2000)
Employment in Industry (% of total employment) 3.6% (2000)
Employment in Services (% of total employment) 22.7% (2000)
Unemployment Rate 2.5% (2014)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $7,485,533,590 (2012)
Exports of goods and services (current US$) $7,982,866,986 (2012)
Total Merchandise Trade (% of GDP) 57.122% (2014)
FDI, net inflows (BoP, current US$) ($27,813,799) (2015)
Commercial Service Exports (current US$) $176,729,768 (2014)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Papua New Guinea’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary