Papua New Guinea ranked 109/197 by economy size with a GDP of $32.5B and 140/197 by GDP per capita at $3,076. Papua New Guinea has $17.5B in government debt, with a debt-to-GDP ratio of 52%.
In 2025, Papua New Guinea made up 0.03% of the world's economy, compared to 0.02% in 1960.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1960 | $230,496,037 | $2,618,701,702 | - |
| 1961 | $244,832,039 | $2,780,566,580 | 6.22% |
| 1962 | $261,184,042 | $2,957,802,655 | 6.68% |
| 1963 | $275,968,044 | $3,078,259,812 | 5.66% |
| 1964 | $305,312,049 | $3,342,075,345 | 10.6% |
| 1965 | $344,176,055 | $3,685,257,013 | 12.7% |
| 1966 | $390,992,063 | $3,899,508,937 | 13.6% |
| 1967 | $441,728,183 | $4,058,236,946 | 13% |
| 1968 | $485,184,190 | $4,235,159,448 | 9.84% |
| 1969 | $551,263,864 | $4,585,553,584 | 13.6% |
| 1970 | $645,568,215 | $5,082,756,253 | 17.1% |
| 1971 | $717,750,278 | $5,402,725,547 | 11.2% |
| 1972 | $858,761,926 | $5,707,631,247 | 19.6% |
| 1973 | $1,299,079,410 | $6,080,297,607 | 51.3% |
| 1974 | $1,467,417,672 | $6,239,025,757 | 13% |
| 1975 | $1,356,603,608 | $6,184,129,558 | -7.55% |
| 1976 | $1,511,843,235 | $5,974,583,505 | 11.4% |
| 1977 | $1,640,746,619 | $6,024,460,261 | 8.53% |
| 1978 | $1,947,878,831 | $6,539,543,139 | 18.7% |
| 1979 | $2,293,760,511 | $6,659,373,434 | 17.8% |
| 1980 | $2,545,808,456 | $6,505,978,016 | 11% |
| 1981 | $2,498,190,847 | $6,488,097,665 | -1.87% |
| 1982 | $2,368,719,683 | $6,510,997,035 | -5.18% |
| 1983 | $2,562,351,551 | $6,720,857,086 | 8.17% |
| 1984 | $2,552,662,617 | $6,697,016,429 | -0.38% |
| 1985 | $2,423,339,172 | $6,964,909,833 | -5.07% |
| 1986 | $2,647,995,602 | $7,291,777,026 | 9.27% |
| 1987 | $3,143,851,794 | $7,493,795,332 | 18.7% |
| 1988 | $3,656,177,881 | $7,711,807,860 | 16.3% |
| 1989 | $3,546,472,566 | $7,602,332,587 | -3% |
| 1990 | $3,219,729,083 | $7,373,337,464 | -9.21% |
| 1991 | $3,787,394,958 | $8,077,262,450 | 17.6% |
| 1992 | $4,377,980,510 | $9,195,889,414 | 15.6% |
| 1993 | $4,974,550,286 | $10,869,751,501 | 13.6% |
| 1994 | $5,502,786,070 | $11,515,643,990 | 10.6% |
| 1995 | $4,636,057,476 | $11,134,194,181 | -15.8% |
| 1996 | $5,155,311,077 | $11,995,278,889 | 11.2% |
| 1997 | $4,936,615,299 | $11,526,936,460 | -4.24% |
| 1998 | $3,789,443,015 | $11,092,473,175 | -23.2% |
| 1999 | $3,477,038,204 | $11,298,300,004 | -8.24% |
| 2000 | $3,521,339,699 | $11,016,425,271 | 1.27% |
| 2001 | $3,081,024,212 | $11,003,063,602 | -12.5% |
| 2002 | $2,999,511,040 | $10,985,579,675 | -2.65% |
| 2003 | $3,536,411,824 | $11,223,318,880 | 17.9% |
| 2004 | $3,927,157,867 | $11,528,725,111 | 11% |
| 2005 | $4,865,892,972 | $12,260,199,192 | 23.9% |
| 2006 | $8,354,911,041 | $12,923,469,113 | 71.7% |
| 2007 | $9,545,028,944 | $13,933,462,679 | 14.2% |
| 2008 | $11,670,892,801 | $13,892,155,836 | 22.3% |
| 2009 | $11,619,456,449 | $14,836,880,986 | -0.44% |
| 2010 | $14,250,786,675 | $16,339,627,662 | 22.6% |
| 2011 | $17,985,138,066 | $16,520,596,167 | 26.2% |
| 2012 | $21,295,168,666 | $17,289,980,089 | 18.4% |
| 2013 | $21,261,338,065 | $17,951,312,547 | -0.16% |
| 2014 | $23,210,823,987 | $20,382,597,142 | 9.17% |
| 2015 | $21,723,437,010 | $21,723,437,010 | -6.41% |
| 2016 | $20,758,876,953 | $22,915,960,976 | -4.44% |
| 2017 | $22,742,699,138 | $23,725,951,012 | 9.56% |
| 2018 | $24,109,780,708 | $23,659,695,751 | 6.01% |
| 2019 | $24,750,626,030 | $24,719,771,867 | 2.66% |
| 2020 | $23,848,447,850 | $23,936,789,891 | -3.65% |
| 2021 | $26,109,413,521 | $23,814,388,298 | 9.48% |
| 2022 | $31,653,185,953 | $25,173,614,524 | 21.2% |
| 2023 | $30,816,367,067 | $26,132,952,333 | -2.64% |
| 2024 | $32,538,480,024 | $27,203,104,310 | 5.59% |
Economic Statistics of Papua New Guinea
Papua New Guinea
|
Rank | |
|---|---|---|
| Gross domestic product |
$32.5B
2024 |
109/197 |
| GDP growth |
5.59%
2023-2024 |
99/196 |
| GDP per capita |
$3,076
2024 |
140/197 |
| GDP per capita, PPP |
$4,889
2024 |
158/197 |
| Government debt |
$17.5B
2024 |
104/185 |
| Debt-to-GDP ratio |
52%
2025 |
105/185 |
| Government debt per person |
$1,652
2024 |
123/185 |
| Average annual personal income after taxes |
$2,561
2025 |
152/197 |
| Listed domestic companies |
6
2016 |
101/103 |
| Market capitalization of domestic companies |
$1.68B
2017 |
91/100 |
| Income share by richest 10% |
31%
2009 |
49/169 |
| Income share by poorest 10% |
1.9%
2009 |
145/169 |
| Government expenditure, % of GDP |
21.5%
2025 |
151/195 |
| Consumer prices inflation |
0.6%
2023-2024 |
180/195 |
| Central bank interest rate |
4%
2024 |
77/105 |
| Unemployment rate |
2.69%
2022 |
160/196 |
| Population |
10911445
|
92/197 |
Papua New Guinea's GDP per capita
Papua New Guinea has a GDP per capita of $3,076, ranking 140/197, a GDP per capita based on purchasing power parity (PPP) of $4,889, ranking 158/197, and a median annual after tax income of $2,561, ranking 152/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1960 | $115.5 | - |
| 1961 | $119.7 | - |
| 1962 | $124.7 | - |
| 1963 | $128.9 | - |
| 1964 | $139.5 | - |
| 1965 | $153.9 | - |
| 1966 | $171.1 | - |
| 1967 | $189 | - |
| 1968 | $202.9 | - |
| 1969 | $225.3 | - |
| 1970 | $257.6 | - |
| 1971 | $279.7 | - |
| 1972 | $327 | - |
| 1973 | $483 | - |
| 1974 | $533 | - |
| 1975 | $482 | - |
| 1976 | $525 | - |
| 1977 | $558 | - |
| 1978 | $648 | - |
| 1979 | $748 | - |
| 1980 | $813 | - |
| 1981 | $781 | - |
| 1982 | $726 | - |
| 1983 | $769 | - |
| 1984 | $750 | - |
| 1985 | $697 | - |
| 1986 | $745 | - |
| 1987 | $865 | - |
| 1988 | $985 | - |
| 1989 | $934 | - |
| 1990 | $826 | $1,703 |
| 1991 | $942 | $1,869 |
| 1992 | $1,051 | $2,100 |
| 1993 | $1,151 | $2,451 |
| 1994 | $1,228 | $2,558 |
| 1995 | $998 | $2,436 |
| 1996 | $1,071 | $2,578 |
| 1997 | $990 | $2,432 |
| 1998 | $733 | $2,285 |
| 1999 | $650 | $2,280 |
| 2000 | $636 | $2,196 |
| 2001 | $538 | $2,168 |
| 2002 | $506 | $2,125 |
| 2003 | $577 | $2,142 |
| 2004 | $621 | $2,187 |
| 2005 | $744 | $2,322 |
| 2006 | $1,238 | $2,444 |
| 2007 | $1,371 | $2,622 |
| 2008 | $1,625 | $2,583 |
| 2009 | $1,569 | $2,692 |
| 2010 | $1,867 | $2,912 |
| 2011 | $2,288 | $2,919 |
| 2012 | $2,635 | $3,026 |
| 2013 | $2,561 | $3,110 |
| 2014 | $2,723 | $3,500 |
| 2015 | $2,485 | $3,670 |
| 2016 | $2,316 | $3,813 |
| 2017 | $2,478 | $3,923 |
| 2018 | $2,566 | $3,910 |
| 2019 | $2,576 | $4,060 |
| 2020 | $2,430 | $3,900 |
| 2021 | $2,608 | $3,977 |
| 2022 | $3,102 | $4,420 |
| 2023 | $2,966 | $4,668 |
| 2024 | $3,076 | $4,889 |
Papua New Guinea's government spending, deficit, and chart
This chart shows Papua New Guinea's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 36 years, Papua New Guinea recorded a fiscal deficit in 24 years — average annual deficit equal to -1.65% of GDP. In 2024, government spending reached $6.61B (21.5% of GDP), with a deficit of -2.61%.
The national debt reached $17.5B, ranking 104th out of 185 countries by total size, with a debt-to-GDP ratio of 52%, ranking 105th.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 1990 | 24.5% | - | -2.04% |
| 1991 | 22.4% | - | -0.62% |
| 1992 | 22.8% | 30.4% | -4.33% |
| 1993 | 23.5% | 30% | -4.9% |
| 1994 | 19.3% | 40.1% | -1.01% |
| 1995 | 17.1% | 36.6% | 1.08% |
| 1996 | 17.6% | 37.8% | 2.05% |
| 1997 | 20.6% | 43.9% | 0.67% |
| 1998 | 20% | 45.7% | -0.16% |
| 1999 | 21.4% | 41.8% | -1.94% |
| 2000 | 20.5% | 42.3% | 0.3% |
| 2001 | 21.6% | 47.7% | -1.33% |
| 2002 | 20.8% | 48.4% | -1.75% |
| 2003 | 18.7% | 40.4% | 0.19% |
| 2004 | 19.4% | 37.2% | 2.03% |
| 2005 | 20.6% | 31.6% | 2.85% |
| 2006 | 19.4% | 26% | 5.34% |
| 2007 | 18% | 22.2% | 6.9% |
| 2008 | 19.8% | 21.6% | 2.73% |
| 2009 | 24.7% | 21.7% | -5.48% |
| 2010 | 18.4% | 17.3% | 3.06% |
| 2011 | 19.7% | 16.3% | 2.22% |
| 2012 | 22.4% | 19.1% | -1.19% |
| 2013 | 27.6% | 24.9% | -6.87% |
| 2014 | 27.1% | 26.9% | -6.27% |
| 2015 | 22.8% | 29.9% | -4.55% |
| 2016 | 20.9% | 33.7% | -4.75% |
| 2017 | 18.4% | 32.5% | -2.47% |
| 2018 | 20.3% | 36.7% | -2.58% |
| 2019 | 21.3% | 38.2% | -4.98% |
| 2020 | 23.5% | 48.7% | -8.85% |
| 2021 | 22% | 52.6% | -6.84% |
| 2022 | 21.9% | 48.2% | -5.25% |
| 2023 | 22.3% | 53.7% | -4.34% |
| 2024 | 20.3% | 53.7% | -3.66% |
| 2025 | 21.5% | 52% | -2.61% |
Inflation rate by year
Over the past 20 years, Papua New Guinea has had an average annual inflation rate of 4.59%. In 2024, inflation was 0.6%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1972 | 6.07% |
| 1973 | 8.34% |
| 1974 | 23.2% |
| 1975 | 10.5% |
| 1976 | 7.66% |
| 1977 | 4.53% |
| 1978 | 5.8% |
| 1979 | 5.77% |
| 1980 | 12.1% |
| 1981 | 8.05% |
| 1982 | 5.54% |
| 1983 | 7.9% |
| 1984 | 7.42% |
| 1985 | 3.71% |
| 1986 | 5.45% |
| 1987 | 3.34% |
| 1988 | 5.45% |
| 1989 | 4.48% |
| 1990 | 6.95% |
| 1991 | 6.97% |
| 1992 | 4.31% |
| 1993 | 4.97% |
| 1994 | 2.85% |
| 1995 | 17.3% |
| 1996 | 11.6% |
| 1997 | 3.96% |
| 1998 | 13.6% |
| 1999 | 14.9% |
| 2000 | 15.6% |
| 2001 | 9.3% |
| 2002 | 11.8% |
| 2003 | 14.7% |
| 2004 | 2.16% |
| 2005 | 1.78% |
| 2006 | 2.37% |
| 2007 | 0.91% |
| 2008 | 10.8% |
| 2009 | 6.92% |
| 2010 | 6.01% |
| 2011 | 4.44% |
| 2012 | 4.54% |
| 2013 | 4.96% |
| 2014 | 5.22% |
| 2015 | 6% |
| 2016 | 6.67% |
| 2017 | 5.42% |
| 2018 | 4.37% |
| 2019 | 3.93% |
| 2020 | 4.87% |
| 2021 | 4.48% |
| 2022 | 5.25% |
| 2023 | 2.3% |
| 2024 | 0.6% |
Balance of trade
|
Papua New Guinea
|
Rank | |
|---|---|---|
Current account balance
|
$4.77B
2024 |
35/189 |
| Current account balance, % of GDP |
+14.7%
2024 |
9/189 |
| Goods imports |
$4.69B
2024 |
135/188 |
| Goods exports |
$13.4B
2024 |
86/188 |
| Service imports |
$2.4B
2024 |
111/188 |
| Service exports |
$75.2M
2024 |
174/188 |
| Imports of goods and services, % of GDP |
58.9%
2004 |
50/180 |
| Exports of goods and services, % of GDP |
72.2%
2004 |
24/193 |
Papua New Guinea's top 10 trading partners
Papua New Guinea's biggest trading partner accounting for 26.5%% of all exports and imports is Australia, with a trade balance between the two of +$340M — Papua New Guinea exports $2.19B worth of goods and services to Australia and imports $1.85B.
Below is the list of the top 10 trade partners of Papua New Guinea.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
Australia
|
$4.03B | 26.5% | $2.19B | $1.85B | Precious metals & jewellery | Machinery & equipment |
| 2 |
China
|
$3.09B | 20.3% | $1.94B | $1.16B | Raw materials & minerals | Machinery & equipment |
| 3 |
Japan
|
$2.29B | 15.1% | $2.07B | $225M | Raw materials & minerals | Machinery & equipment |
| 4 |
Singapore
|
$1.33B | 8.74% | $338M | $993M | Raw materials & minerals | Raw materials & minerals |
| 5 |
Malaysia
|
$657M | 4.32% | $218M | $440M | Processed food, beverages & tobacco | Raw materials & minerals |
| 6 |
South Korea
|
$577M | 3.79% | $432M | $145M | Raw materials & minerals | Raw materials & minerals |
| 7 |
India
|
$352M | 2.31% | $251M | $101M | Processed food, beverages & tobacco | Chemicals & pharma |
| 8 |
Indonesia
|
$337M | 2.21% | $88.4M | $249M | Processed food, beverages & tobacco | Processed food, beverages & tobacco |
| 9 |
Thailand
|
$317M | 2.08% | $142M | $175M | Animal & marine products | Raw agricultural goods |
| 10 |
United Kingdom
|
$282M | 1.85% | $254M | $27.5M | Processed food, beverages & tobacco | Machinery & equipment |
Papua New Guinea's top 10 exports
|
Papua New Guinea
|
Rank | |
|---|---|---|
| Raw materials & minerals | $5.23B | 72/193 |
| Precious metals & jewellery | $1.97B | 45/190 |
| Processed food, beverages & tobacco | $1.24B | 71/192 |
| Animal & marine products | $461M | 72/192 |
| Metals | $362M | 97/192 |
| Wood & paper products | $273M | 69/192 |
| Raw agricultural goods | $247M | 101/193 |
| Machinery & equipment | $127M | 122/193 |
| Business & finance services | $62.9M | 134/188 |
| Manufacturing & construction services | $24.2M | 113/164 |
Papua New Guinea's top 10 imports
|
Papua New Guinea
|
Rank | |
|---|---|---|
| Machinery & equipment | $2.3B | 121/193 |
| Business & finance services | $1.47B | 77/188 |
| Raw materials & minerals | $1.46B | 129/193 |
| Metals | $475M | 126/193 |
| Chemicals & pharma | $411M | 140/193 |
| Processed food, beverages & tobacco | $403M | 136/193 |
| Raw agricultural goods | $394M | 119/193 |
| Transport & tourism services | $364M | 150/188 |
| Textiles & consumer goods | $342M | 135/193 |
| Animal & marine products | $230M | 112/193 |
Economic freedom indices
|
Papua New Guinea
|
Rank | |
|---|---|---|
| Economic freedom | 52.5 | 146/197 |
| Property rights | 44.7 | 110/182 |
| Government integrity | 28.5 | 110/182 |
| Judicial effectiveness | 44.2 | 110/182 |
| Tax burden | 72.1 | 139/181 |
| Government spending | 85.5 | 42/180 |
| Fiscal health | 46.7 | 130/181 |
| Business freedom | 35.5 | 165/182 |
| Labor freedom | 64.6 | 35/182 |
| Monetary freedom | 73.6 | 63/180 |
| Trade freedom | 79.8 | 27/181 |
| Investment freedom | 25 | 159/181 |
| Financial freedom | 30 | 144/181 |
Papua New Guinea's economic freedom by year
Papua New Guinea is ranked 132/180 for economic freedom with a score of 52.5, compared to 93/159 and a score of 57.2 in 2001.
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 1996 | 58.6 | - | 81.5 | 69.3 | - |
| 1997 | 56.7 | - | 81.5 | 74.2 | - |
| 1998 | 55.2 | - | 81.5 | 75.1 | - |
| 1999 | 56.3 | - | 81.5 | 79.2 | - |
| 2000 | 55.8 | - | 81.5 | 73.5 | - |
| 2001 | 57.2 | - | 52.9 | 73.5 | - |
| 2002 | - | - | - | - | - |
| 2003 | - | - | - | - | - |
| 2004 | - | - | - | - | - |
| 2005 | - | - | - | - | - |
| 2006 | - | - | - | - | - |
| 2007 | - | - | - | - | - |
| 2008 | - | - | - | - | - |
| 2009 | 54.8 | - | 67.4 | 71 | - |
| 2010 | 53.5 | - | 65 | 63.3 | - |
| 2011 | 52.6 | - | 66.3 | 63.3 | - |
| 2012 | 53.8 | - | 68.3 | 72.6 | - |
| 2013 | 53.6 | - | 67.4 | 72.3 | - |
| 2014 | 53.9 | - | 66.7 | 75.4 | - |
| 2015 | 53.1 | - | 66.9 | 68.7 | - |
| 2016 | 53.2 | - | 67.3 | 76.2 | - |
| 2017 | 50.9 | 54 | 67.8 | 64.5 | 16.7 |
| 2018 | 55.7 | 55.1 | 71.1 | 82 | 51.9 |
| 2019 | 58.4 | 49 | 71.8 | 89.1 | 75.2 |
| 2020 | 58.4 | 48.4 | 71.5 | 86.4 | 76.4 |
| 2021 | 58.9 | 50.8 | 71.5 | 88 | 82 |
| 2022 | 54.6 | 44.2 | 72 | 86 | 64.1 |
| 2023 | 51.7 | 32 | 72 | 86 | 26.4 |
| 2024 | 49.4 | 43.6 | 71.9 | 84.8 | 17.2 |
| 2025 | 52.5 | 44.2 | 72.1 | 85.5 | 46.7 |
More economic indicators
|
Papua New Guinea
|
Rank | |
|---|---|---|
| Services, % of GDP |
41.5%
2024 |
174/191 |
| Industry, % of GDP |
37.2%
2024 |
30/194 |
| Agriculture, forestry, and fishing, % of GDP |
17.2%
2024 |
43/193 |
|
GNI, Atlas method
|
$31.1B
2024 |
106/194 |
| GNI per capita, PPP |
$4,610
2024 |
156/191 |
| Total reserves including gold |
$3.9B
2023 |
107/177 |
|
Net foreign direct investment
|
$968M
2024 |
28/188 |
|
Net inflows of foreign direct investment
|
-$198M
2024 |
178/193 |
|
Net outflows of foreign direct investment
|
$770M
2024 |
54/187 |
|
Servicing debt to the IMF, % of GNI
|
19.6%
2023 |
6/119 |
| Poverty at national poverty lines |
39.9%
2009 |
38/176 |
|
Gross capital formation, % of GDP
|
20%
2004 |
127/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Papua New Guinea topic pages:
Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.