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): and Solomon Islands
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) [1]

GDP, PPP (current international) $34,632,695,979 (2017)
GDP Growth Rate (annual %) 2.2% (2017)
GDP Per Capita, PPP (current international) $4,197 (2017)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 123/195 (2017)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 6.674% (2016)
External debt stocks, total (DOD, current US$) $19,688,489,000 (2016)
Total tax rate (% of commercial profits) 39.3% (2017)
Real Interest Rate (5 year average %) 1.539% (2016)
Manufacturing, value added (% of GDP) 2.142% (2014)
Current Account Balance (BoP, current US$) $5,180,993,389 (2016)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 3,695,703 (2017)
Employment in Agriculture (% of total employment) 20.601% (2017)
Employment in Industry (% of total employment) 7.557% (2017)
Employment in Services (% of total employment) 71.842% (2017)
Unemployment Rate 2.662% (2017)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $7,485,533,590 (2012)
Exports of goods and services (current US$) $7,982,866,986 (2012)
Total Merchandise Trade (% of GDP) 61.976% (2017)
FDI, net inflows (BoP, current US$) ($200,478,349) (2017)
Commercial Service Exports (current US$) $94,453,633 (2016)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

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

Sources

  1. The World Bank