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 3.28 3.21 3.24 3.34 3.31 3.82 [+]
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 2.52 2.5 percent [+]
Minimum Wages 140.00 140 140 140 140 170 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 6.00 6.3 6.5 6.2 6.5 6.5 percent [+]
Food Inflation 3.50 3.13 3.55 4.66 4.41 4.14 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 [+]
Loan Growth 0.60 6.69 6.71 6.72 6.72 6.72 percent [+]
Foreign Exchange Reserves 1715.30 1766 1768 1770 1772 1788 USD Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 5892.00 4106 3960 3895 3839 3581 PGK Million [+]
Exports 6971.00 5447 5477 5452 5476 5462 PGK Million [+]
Imports 1079.00 1065 1282 1548 1173 1344 PGK Million [+]
Current Account 1873.30 1355 1331 1270 1268 1254 PGK Million [+]
Current Account to GDP 4.60 3.7 3.7 3.7 3 -1 percent [+]
Gold Reserves 1.96 1.96 1.96 1.96 1.96 1.96 Tonnes [+]
Crude Oil Production 35.00 36.51 36.52 36.52 36.52 36.52 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 35 35 38 37 percent [+]
Government Budget -4.60 -4.92 -5.57 -6.21 -6.05 -5.38 percent of GDP [+]
Military Expenditure 87.40 98.02 93.48 88.95 89.69 85.56 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
Corporate Tax Rate 30.00 30 30 30 30 30 percent [+]
Personal Income Tax Rate 42.00 41.99 42 42 42 42 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 [+]