Papua New Guinea GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Papua New Guinea expanded 5.10 percent in 2013 from the previous year. GDP Annual Growth Rate in Papua New Guinea averaged 3.42 Percent from 1995 until 2013, reaching an all time high of 11.10 Percent in 2011 and a record low of -6.34 Percent in 1997. GDP Annual Growth Rate in Papua New Guinea is reported by the Bank of Papua New Guinea.
||1995 - 2013
Papua New Guinea, one of the poorest and most isolated countries in the world, has been growing consistently in recent years. Papua New Guinea is rich in natural resources, such as oil, gold and copper. Natural resource extraction, the most important sector of the economy, accounts for 60 percent of GDP and a large share of government revenues. Agriculture is also important, since it employs up to 85 percent of the population. Revenues from natural resource exploitation have resulted in high government spending and a construction boom. Yet, as the country suffers from endemic corruption and lacks a functioning legal system, inequality has been increasing. This page provides - Papua New Guinea GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.