Papua new guinea gdp. 66% increase from 2020. By contrast, the resource sector contracted owing KEY DEVELOPMENTS IN 2023 Papua New Guinea’s real gross domestic product is estimated to have grown by 4. dollars, though the Papua New Guinea’s economic outlook remains favorable. Papua New Guinea - GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2025. This outturn was driven by a strong performance in the non-resource sector supported by an increase in public spending, strong business activity, and an 8. Crucial measures for geographic asset allocation decisions and a way to reduc the risks involved in business, financial and government investment decisions. Sources: Papua New Guinea Department of Treasury; International Monetary Fund; Asian Development Bank estimates. The World Bank’s Papua New Guinea Economic Update provides an annual assessment of Papua New Guinea’s economy within a long-term and global context along with the economic outlook. continued to fall from 4. 1). Between 1980 and 2024, the GDP per capita rose by 1,143. Inflation—after significantly declining in the past year due to This chart demonstrates Papua New Guinea GDP per capita. Plan your PNG adventure today! 6 days ago · Australia has offered to gift Papua New Guinea an extension to its Parliament House as the South Pacific island nation celebrates its 50th independence anniversary. 9% expansion in credit to the private sector. 9% in 2024. Explore Papua New Guinea economic data on Data360. 2 Papua New Guinea GDP growth (annual %) 4. The gross domestic product statistics are compiled by World Bank. 2% in 2022 (Figure 2. International Monetary Fund (IMF) Apr 10, 2025 · After a rebound in economic growth in 2024 at 4. This is based on the March 2024 Monetary Policy Statement delivered by Central Bank Governor Ms. GDP per capita (current US$) - Papua New Guinea from The World Bank: Data GDP per capita, PPP (current international $) - Papua New Guinea from The World Bank: Data World Economics provides a full review of Papua New Guinea's economic, dempgraphic and ESG performance. 3 3. 51%, a 2. Elizabeth Genia, AAICD, on its assessment of broader macroeconomic developments along with BPNG’s medium-term outlook and 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. We would like to show you a description here but the site won’t allow us. Includes historical data for Papua New Guinea’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership. 2% in 2025 and moderate further to 3. Economic activity in Papua New Guinea (PNG) normalized across sectors following the impact of COVID-19. Papua is the largest and most sparsely inhabited region of Indonesia. 0 percent this year, due to the normalization of LNG production, but is projected to rebound to 5. Papua New Guinea's GDP changed from around $4B 86M in 1980 to about $31B 716M in 2024, with an overall 676. This decline was mainly due to falling export prices for Mining and Agriculture commodities. 3%. It is one of four provinces established in 2022 when the former, larger Papua province was divided. 65% decline from 2019. The statistical themes covered are: International trade, economic trends, foreign direct investment, external financial resources, population and labor force, information economy and maritime transport. 3% in 2023 to 3. S. Papua New Guinea is a developing economy where nearly 40% of the population are subsistence farmers living relatively independently of the cash economy. This page provides - Papua New Guinea GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Gross Domestic Product (GDP) by Production GDP at Current Price, 2022 to 2023 The Papua New Guinea economy contracted by K800 million, representing a 0. This is the lowest vaccination rate in developing Asia. GDP = gross domestic product. The current and projected economic growth in Papua New Guinea, compared with other developing countries in the Pacific. dollars in 2024. KEY DEVELOPMENTS IN 2023 Papua New Guinea’s real gross domestic product is estimated to have grown by 4. 4 billion in present value terms. Looking ahead to 2030, projections suggest Papua New Guinea's GDP estimate could be $33bn. Growth is expected to soften to 3. 53 U. Papua New Guinea gdp growth rate for 2020 was -3. Papua New Guinea GDP per Capita Forecast: $6,370bn in 2024, $6,490bn projected for 2025. Papua New Guinea GDP Forecast: 27bn in 2024, $28bn projected for 2025 (Constant 2015 Prices). Discover Papua New Guinea's diverse economy, with a GDP of $31. Papua New Guinea is one of the most culturally diverse countries in the world with more than 800 native languages of which 12 have no living speakers. GDP grew by an estimated 3. Estimates by world bank since 1961. Mar 9, 2025 · Papua New Guinea’s economy is set to continue its strong recovery in 2025, fueled by robust resource exports, a record trade surplus, and solid government spending, according to the latest PNG Westpac Wailis, a quarterly economic update providing in-depth insights into the country’s economy. 37 U. (Other Pacific Island Countries have their own standalone Economic Update). 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. 0 percent in 2024, spurred by the expected reopening of Porgera gold mine and by sustained growth in the agriculture and service sectors. The average value during the period was approximately $11B 915M. 3% driven by both resource and non-resource sectors, Papua New Guinea’s (PNG) economy is forecast to grow by 4. The Gross Domestic Product (GDP) in Papua New Guinea expanded 3. The country retains close ties to Australia, and has enhanced ties with both Asia and the Pacific. Papua, formerly known as West Irian[7] and Irian Jaya[8], is a province of Indonesia, comprising the northern coast of Western New Guinea together with island groups in Cenderawasih Bay to the west. However, economic challenges remain, including persistent inflation, currency depreciation, and ECONOMY OF PAPUA NEW GUINEA Papua New Guinea has a lower middle-income Pacific island economy; primarily informal agrarian sector; natural resource-rich; key liquified natural gas exporter; growing young workforce; slow post-pandemic recovery; increasingly impoverished citizenry; sustainable inflation. Projections by IMF. Aug 21, 2025 · Papua is a province of Indonesia on the western half of the island of New Guinea. There were no additional surges of COVID-19 cases or national lockdowns in 2022, even though by the end of the year only about 3% of the population was fully vaccinated. As of 28 GDP (current US$) in Papua New Guinea was reported at 32538480024 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Mar 6, 2025 · This economic brief provides an in-depth overview of the developments of the Papua New Guinean economy during 2024, and outlines potential trends for the global, regional and national economy during 2025. Based on the latest economic info provided for Papua New Guinea. Papua New Guinea gdp growth rate for 2021 was -0. 1 (2024) 6 days ago · Currently married women (ages 15-49) Child marriage Education expenditure comparison ranking: Education expenditure (% GDP) 193 Nov 18, 2024 · The 2024 Mid-Year Economic and Fiscal Outlook (MYEFO) report offers a comprehensive assessment of Papua New Guinea's (PNG) current economic performance and fiscal trajectory, focusing on . Linguistically, it is the world's most diverse Nov 29, 2024 · GDP of Papua New Guinea in nominal and ppp terms. Mar 29, 2023 · Papua New Guinea’s economy is now rebounding from the pandemic period, with high commodity prices and the removal of COVID-19 restrictions accelerating economic growth to 4. New external government borrowing also remained below the International Monetary Fund’s 2024 limit of $1. 80 percent in the fourth quarter of 2023 over the same quarter of the previous year. 6 billion and a population of over 10 million. By contrast, the resource sector contracted owing Papua New Guinea trade statistics : Exports, Imports, Products, Tariffs, GDP and related Development Indicator. The economy of Papua New Guinea is estimated to grow by an average compound annual growth rate of 3. Linguistically, it is the world's most diverse Papua New Guinea is a developing economy where nearly 40% of the population are subsistence farmers living relatively independently of the cash economy. Discover Papua New Guinea’s must-visit attractions, from the Trails to cultural festivals, diving spots & breathtaking landscapes. The document contains the latest data and information on inflation, Papua New Guinea's key industries, and the national budget and economic policies for 2025. Sep 15, 2025 · Who are the Papua New Guineans? New DNA study reveals stunning origins Date: September 15, 2025 Source: Estonian Research Council Summary: On remote islands of Papua New Guinea, people carry a Dec 19, 2023 · Papua New Guinea occupies the eastern part of the world's second largest island and is prey to volcanic activity, earthquakes and tidal waves. Main spoken languages are English (official) and Tok Pisin (an English-based Creole). Papua New Guinea s GDP per capita is projected to be View diagram Papua New Guinea GDP per capita→ Apr 15, 2024 · Bank of Papua New Guinea (BPNG) predicts a rebound in real GDP (gross domestic product) growth in 2024, primarily driven by a strong performance in the mineral sector of PNG. Capital and largest city is Port Moresby. Looking ahead to 2030, projections suggest Papua New Guinea's GDP per Capita estimate could be $6,795bn. 5 (2024) 2000 2024 Thousand 0. 0% sharply increased. Sometimes called the Great Steamy, it is clearly an end-of-the-world kind of place, sometimes referred to by environmentalists as the last great wilderness of Asia and the Pacific. Looking ahead to 2030, projections suggest Papua New Guinea's GDP estimate could be $39bn. 7% decrease from 2022. 0% in 2023 compared with 4. GDP growth is based on the past 5-year compound annual growth rate of 1. Explore the connection with major economic crises. 34. Papua New Guinea GDP Forecast: 32bn in 2024, $33bn projected for 2025 (Current Market Prices). 8% in 2026 amid development challenges and rising geoeconomic risks, says the Asian Development Outlook (ADO) April 2025. The May 2024 edition focuses on the urgent need for more and better investment in education to address a human capital crisis in PNG. 17%, a 7. 5 percent for 2022, the World Bank’s latest Economic Update for Papua New Guinea has found. GDP per capita (current US$) 3,076. Jul 31, 2025 · The gross domestic product (GDP) per capita in Papua New Guinea was estimated at 2,524. 6 days ago · Visit the Definitions and Notes page to view a description of each topic. Apr 15, 2025 · Overview of key economic statistics. Explore Papua New Guinea Economic development data for Human Capital by income group (low, lower-middle, upper-middle and high income countries) or region (Europe & Central Asia, Latin America, North America, Middle East and North Africa, Sub Saharan Africa, East Asia & Pacific) for health, education, and labour, employment, & job policies. 6% in 2022. Explore its rich resources, from agriculture to tourism, driving growth. World Economics provides a full review of Papua New Guinea's economic, dempgraphic and ESG performance. qkde cpwgf eleysmw kxvmx rymzg maat iwmt rgvzl okbe ulnumg