Papua New Guinea Economic Statistics and Indicators

26, Apr 2015, EDT. Welcome to the Papua New Guinea economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Papua New Guinea › Change country
National or Regional Currency: Kina, PGK
Year of data: 2014 › Change year
Number of Indicators Listed: 35
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 6,552,730 (July 2014 est.)
Area: total: 462,840 sq km ; land: 452,860 sq km ; water: 9,980 sq km
Natural Resources: gold, copper, silver, natural gas, timber, oil, fisheries
Capital: name: Port Moresby ; geographic coordinates: 9 27 S, 147 11 E ; time difference: UTC+10 (15 hours ahead of Washington, DC, during Standard Time)

Papua New Guinea (PNG) is richly endowed with natural resources, but exploitation has been hampered by rugged terrain, land tenure issues, and the high cost of developing infrastructure. The economy has a small formal sector, focused mainly on the export of those natural resources, and an informal sector, employing the majority of the population. Agriculture provides a subsistence livelihood for 85% of the people. Mineral deposits, including copper, gold, and oil, account for nearly two-thirds of export earnings. Natural gas reserves amount to an estimated 155 billion cubic meters. A consortium led by a major American oil company is constructing a liquefied natural gas (LNG) production facility that could begin exporting in 2014. As the largest investment project in the country's history, it has the potential to double GDP in the near-term and triple Papua New Guinea's export revenue. An American-owned firm also opened PNG's first oil refinery in 2004 and is building a second LNG production facility. The government faces the challenge of ensuring transparency and accountability for revenues flowing from this and other large LNG projects. In 2011 and 2012, the National Parliament passed legislation that created an offshore Sovereign Wealth Fund (SWF) to manage government surpluses from mineral, oil, and natural gas projects. In recent years, the government has opened up markets in telecommunications and air transport, making both more affordable to the people. Numerous challenges still face the government of Peter O'NEILL, including providing physical security for foreign investors, regaining investor confidence, restoring integrity to state institutions, promoting economic efficiency by privatizing moribund state institutions, and maintaining good relations with Australia, its former colonial ruler. Other socio-cultural challenges could upend the economy including chronic law and order and land tenure issues. The global financial crisis had little impact because of continued foreign demand for PNG's commodities.
More on the Papua New Guinea Economy
More on the Papua New Guinea Export, Import and Trade

Economic Indicator Listing
  For Papua New Guinea in year 2014 Indicator Value
GDP Growth (Constant Prices, National Currency) 5.837 %
GDP (Current Prices, National Currency)PGK 39.843 Billion.
GDP (Current Prices, US Dollars)US$ 16.096 Billion
GDP Deflator 258.886 (Index, Base Year as per country's accounts = 100)
GDP Per Capita (Constant Prices, National Currency)PGK 2,043.91 .
GDP Per Capita (Current Prices, National Currency)PGK 5,291.40 .
GDP Per Capita (Current Prices, US Dollars)US$ 2,137.63
GDP (PPP), US DollarsUS$ 18.105 Billion
GDP Per Capita (PPP), US DollarsUS$ 2,404.41
GDP Share of World Total (PPP) 0.017 %
Implied PPP Conversion Rate 2.201
Investment (% of GDP) 19.355 %
Gross National Savings (% of GDP) 8.004 %
Inflation, Average Consumer Prices (Indexed to Year 2000) 559.469 (Index, Base Year 2000 = 100)
Inflation (Average Consumer Price Change %) 5.307 %
Inflation, End of Year (Indexed to Year 2000) 554.782 (Index, Base Year 2000 = 100)
Inflation (End of Year Change %) 6.3 %
Import Volume of All Items Including Goods and Services (Percent Change) -16.607 %
Import Volumes of Goods Only (Percent Change) -19.121 %
Export Volume of All Items Including Goods and Services (Percent Change) 0.533 %
Export Volumes of Goods Only (Percent Change) 0.716 %
Population 7.53 Million
General government revenue (National Currency)PGK 11.974 Billions.
General government revenue (% of GDP) 30.054 %
General government total expenditure (National Currency)PGK 14.853 Billions.
General government total expenditure (% of GDP) 37.278 %
Total Government Net Lending/ Borrowing (National Currency)PGK -2.878 Billions.
Total Government Net Lending/ Borrowing (% of GDP) -7.224 %
Fiscal Year Gross Domestic Product, Current PricesPGK 39.843 Billions.
Current Account Balance (US Dollars)US$ -1.827 Billion
Current Account Balance (% GDP) -11.351 %
Economic Indicators for Papua New Guinea 2014

GDP (Constant Prices, National Currency) for Papua New Guinea in year 2014 is PGK 15.39 Billion.

GDP Growth (Constant Prices, National Currency) for Papua New Guinea in year 2014 is 5.837 %.

GDP (Current Prices, National Currency) for Papua New Guinea in year 2014 is PGK 39.843 Billion.

GDP (Current Prices, US Dollars) for Papua New Guinea in year 2014 is US$ 16.096 Billion.

GDP Deflator for Papua New Guinea in year 2014 is 258.886 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Papua New Guinea in year 2014 is PGK 2,043.91 .

GDP Per Capita (Current Prices, National Currency) for Papua New Guinea in year 2014 is PGK 5,291.40 .

GDP Per Capita (Current Prices, US Dollars) for Papua New Guinea in year 2014 is US$ 2,137.63 .

GDP (PPP), US Dollars for Papua New Guinea in year 2014 is US$ 18.105 Billion.

GDP Per Capita (PPP), US Dollars for Papua New Guinea in year 2014 is US$ 2,404.41 .

GDP Share of World Total (PPP) for Papua New Guinea in year 2014 is 0.017 %.

Implied PPP Conversion Rate for Papua New Guinea in year 2014 is 2.201 .

Investment (% of GDP) for Papua New Guinea in year 2014 is 19.355 %.

Gross National Savings (% of GDP) for Papua New Guinea in year 2014 is 8.004 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Papua New Guinea in year 2014 is 559.469 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Papua New Guinea in year 2014 is 5.307 %.

Inflation, End of Year (Indexed to Year 2000) for Papua New Guinea in year 2014 is 554.782 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Papua New Guinea in year 2014 is 6.3 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Papua New Guinea in year 2014 is -16.607 %.

Import Volumes of Goods Only (Percent Change) for Papua New Guinea in year 2014 is -19.121 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Papua New Guinea in year 2014 is 0.533 %.

Export Volumes of Goods Only (Percent Change) for Papua New Guinea in year 2014 is 0.716 %.

Population for Papua New Guinea in year 2014 is 7.53 Million .

General government revenue (National Currency) for Papua New Guinea in year 2014 is PGK 11.974 Billions.

General government revenue (% of GDP) for Papua New Guinea in year 2014 is 30.054 %.

General government total expenditure (National Currency) for Papua New Guinea in year 2014 is PGK 14.853 Billions.

General government total expenditure (% of GDP) for Papua New Guinea in year 2014 is 37.278 %.

Total Government Net Lending/ Borrowing (National Currency) for Papua New Guinea in year 2014 is PGK -2.878 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Papua New Guinea in year 2014 is -7.224 %.

Fiscal Year Gross Domestic Product, Current Prices for Papua New Guinea in year 2014 is PGK 39.843 Billions.

Current Account Balance (US Dollars) for Papua New Guinea in year 2014 is US$ -1.827 Billion.

Current Account Balance (% GDP) for Papua New Guinea in year 2014 is -11.351 %.

* Source: IMF
Aggregate Indicators for Papua New Guinea
Indicators
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Papua New Guinea
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Papua New Guinea
  Natural Resources, Agricultural Products, Land Use and Water Use for Papua New Guinea
  Nationality, Ethnic Groups, Languages and Religions for Papua New Guinea
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Papua New Guinea
  Age Structure, Median Age, Gender and Urbanization for Papua New Guinea
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Papua New Guinea
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Papua New Guinea
  HIV, AIDS and Other Major Infectious Disease Rates for Papua New Guinea
  Literacy Rate, Educational Expenditure and School Life Expectancy for Papua New Guinea
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Papua New Guinea
  Industries and Industrial Growth Production Rate for Papua New Guinea
  Labor Force by Occupation for Papua New Guinea
  Poverty Line, Gini Index, Household Income and Consumption for Papua New Guinea
  National Budget and Public Debt for Papua New Guinea
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Papua New Guinea
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Papua New Guinea
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Papua New Guinea
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Papua New Guinea
  Foreign Exchange Reserves and Gold Reserves for Papua New Guinea
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Papua New Guinea
  Exchange Rate Statistics for Papua New Guinea
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Papua New Guinea
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Papua New Guinea
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Papua New Guinea
  Television and Radio Statistics (TV Stats, Radio Stats) for Papua New Guinea
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Papua New Guinea
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Papua New Guinea
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Papua New Guinea
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Papua New Guinea
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Papua New Guinea
* Source: CIA
Internet Indicators for Papua New Guinea
Indicators
  Number of Internet Users for Papua New Guinea
  Internet Penetration Rate for Papua New Guinea
  Number of Facebook Accounts for Papua New Guinea
  Facebook Penetration Rate for Papua New Guinea
* Source: IWS
Economic Freedom Indicators for Papua New Guinea
Indicators
  Economic Freedom World Rank for Papua New Guinea
  Economic Freedom Regional Ranking for Papua New Guinea
  Business Freedom for Papua New Guinea
  Trade Freedom for Papua New Guinea
  Fiscal Freedom for Papua New Guinea
  Government Spending for Papua New Guinea
  Monetary Freedom for Papua New Guinea
  Investment Freedom for Papua New Guinea
  Financial Freedom for Papua New Guinea
  Property Rights for Papua New Guinea
  Freedom from Corruption for Papua New Guinea
  Labor Freedom for Papua New Guinea
  Tariff Rate for Papua New Guinea
  Income Tax Rate for Papua New Guinea
  Corporate Tax Rate for Papua New Guinea
  Tax Burden % of GDP for Papua New Guinea
  Government Expenditure % of GDP for Papua New Guinea
* Source: HFO
Corruption Perceptions Index Rank and Score for Papua New Guinea
Indicator
  Corruption Perceptions Index Rank and Score for Papua New Guinea
* Source: TIO
Papua New Guinea Economic Indicators in other Years
  Papua New Guinea Economic Indicators for Year 2019 (Forecast)
  Papua New Guinea Economic Indicators for Year 2018 (Forecast)
  Papua New Guinea Economic Indicators for Year 2017 (Forecast)
  Papua New Guinea Economic Indicators for Year 2016 (Forecast)
  Papua New Guinea Economic Indicators for Year 2015 (Forecast)
Papua New Guinea Economic Indicators for Year 2014 (Current)
  Papua New Guinea Economic Indicators for Year 2013
  Papua New Guinea Economic Indicators for Year 2012
  Papua New Guinea Economic Indicators for Year 2011
  Papua New Guinea Economic Indicators for Year 2010
  Papua New Guinea Economic Indicators for Year 2009
  Papua New Guinea Economic Indicators for Year 2008
  Papua New Guinea Economic Indicators for Year 2007
  Papua New Guinea Economic Indicators for Year 2006
  Papua New Guinea Economic Indicators for Year 2005
  Papua New Guinea Economic Indicators for Year 2004
  Papua New Guinea Economic Indicators for Year 2003
  Papua New Guinea Economic Indicators for Year 2002
  Papua New Guinea Economic Indicators for Year 2001
  Papua New Guinea Economic Indicators for Year 2000
  Papua New Guinea Economic Indicators for Year 1999
  Papua New Guinea Economic Indicators for Year 1998
  Papua New Guinea Economic Indicators for Year 1997
  Papua New Guinea Economic Indicators for Year 1996
  Papua New Guinea Economic Indicators for Year 1995
  Papua New Guinea Economic Indicators for Year 1994
  Papua New Guinea Economic Indicators for Year 1993
  Papua New Guinea Economic Indicators for Year 1992
  Papua New Guinea Economic Indicators for Year 1991
  Papua New Guinea Economic Indicators for Year 1990
  Papua New Guinea Economic Indicators for Year 1989
  Papua New Guinea Economic Indicators for Year 1988
  Papua New Guinea Economic Indicators for Year 1987
  Papua New Guinea Economic Indicators for Year 1986
  Papua New Guinea Economic Indicators for Year 1985
  Papua New Guinea Economic Indicators for Year 1984
  Papua New Guinea Economic Indicators for Year 1983
  Papua New Guinea Economic Indicators for Year 1982
  Papua New Guinea Economic Indicators for Year 1981
  Papua New Guinea Economic Indicators for Year 1980


Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International