Papua New Guinea | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Papua New Guinea including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Papua New Guinea economy.


MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 3.17 3.19 3.22 3.32 3.29 3.79 [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Annual Growth Rate 2.60 7 7 7 9.1 4.5 percent [+]
GDP 16.93 18.31 18.31 18.31 18.31 23 USD Billion [+]
GDP per capita 1783.69 1885 1885 1885 1820 2100 USD [+]
GDP per capita PPP 2723.49 2759 2787 2814 2825 2978 USD [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 2.50 2.6 2.6 2.6 2.51 2.5 percent [+]
Minimum Wages 140.00 144 146 148 150 170 PGK/Week [+]
Population 7.62 7.69 7.73 7.77 7.77 8.4 Million [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 6.60 6.7 6.9 7.2 6.44 6.5 percent [+]
Food Inflation 2.80 2.59 2.98 4.11 4.06 3.76 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 6.25 6.25 6.25 6.25 6.25 6.25 percent [+]
Deposit Interest Rate 0.40 0.31 0.31 0.31 0.31 0.29 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 4593.00 4106 3960 3895 3839 3581 PGK Million [+]
Exports 5469.00 5447 5477 5452 5476 5462 PGK Million [+]
Imports 876.00 1065 1282 1548 1173 1344 PGK Million [+]
Current Account 4386.00 4180 3930 4021 4035 4013 PGK Million [+]
Current Account to GDP 4.60 1.76 0.52 -0.72 -6.03 -12.08 percent [+]
Gold Reserves 1.96 1.96 1.96 1.96 1.96 1.96 Tonnes [+]
Crude Oil Production 56.00 56 56 56 56 56 BBL/D/1K [+]
Terrorism Index 0.00 0 0 0 0 0 [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 35.80 35.94 34.72 33.5 34.3 37 percent [+]
Government Budget -3.10 -3.74 -3.62 -3.51 -3.71 -4.3 percent of GDP [+]
Military Expenditure 105.90 119 118 118 117 121 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Ease of Doing Business 119.00 119 117 115 111 98 [+]
Corruption Index 28.00 25 25 26 26 24 Points [+]
Corruption Rank 136.00 136 135 133 133 138 [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Personal Income Tax Rate 42.00 41.99 42 42 42 42 percent [+]
Corporate Tax Rate 30.00 30 30 30 30 30 percent [+]
Sales Tax Rate 10.00 10 10 10 10 10 percent [+]
Social Security Rate 14.40 14.4 14.4 14.4 14.4 14.4 percent [+]
Social Security Rate For Companies 8.40 8.4 8.4 8.4 8.4 8.4 percent [+]
Social Security Rate For Employees 6.00 6 6 6 6 6 percent [+]