Papua New Guinea - Economic Forecasts - 2018-2020 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 Q2/18 Q3/18 Q4/18 Q1/19 2020
Currency 3.26
3.35 3.45 3.55 3.66 4.12
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Annual Growth Rate 2.20
percent
3 3 3 2.5 4.5
GDP 16.93
USD Billion
17.2 17.6 19.9 22 23
GDP per capita 1716.50
USD
1718 1920 1920 2000 2100
GDP per capita PPP 4190.66
USD
4361 4371 4381 4781 4874
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 2.60
percent
2.55 2.57 2.5 2.6 2.5
Minimum Wages 140.00
PGK/Week
140 140 140 150 170
Population 8.08
Million
8.16 8.2 8.24 8.28 8.87
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 4.70
percent
5 5.6 6 6.1 6.5
Food Inflation 1.30
percent
3.25 3.25 3.25 3.25 3.25
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Interest Rate 6.25
percent
6.25 6.25 6.25 6.25 6.25
Deposit Interest Rate 0.60
percent
0.43 0.48 0.53 0.52 0.54
Loan Growth -3.80
percent
-8.44 -2.27 1.27 -0.59 -1.36
Foreign Exchange Reserves 1686.70
USD Million
1700 1744 1708 1736 1760
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade 5433.00
PGK Million
5682 5682 5682 5682 5682
Exports 7246.00
PGK Million
7768 7768 7768 7768 7768
Imports 1813.00
PGK Million
2086 2086 2086 2086 2086
Current Account 343.10
PGK Million
1443 1750 2063 1832 1802
Current Account to GDP 15.30
percent
3 3 23 2.5 -1
Gold Reserves 2.00
Tonnes
2 2 2 2 2
Terrorism Index 0.00
0.01 0 0 0 0
Crude Oil Production 50.00
BBL/D/1K
50.88 50.91 50.9 50.9 50.9
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 33.50
percent
38 38 38 40 41
Government Budget -2.40
percent of GDP
-3.4 -3.54 -3.67 -3.14 -0.97
Military Expenditure 69.10
USD Million
97.2 92.42 87.64 88.58 86.63
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Internet Speed 7028.40
KBps
6863 6314 6556 6088 4360
IP Addresses 3633.00
IP
3734 3715 3721 3725 3723
Ease of Doing Business 109.00
109 109 109 109 109
Corruption Index 29.00
Points
29 29 29 29 29
Corruption Rank 135.00
135 135 135 135 135
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 30.00
percent
30 30 30 30 30
Personal Income Tax Rate 42.00
percent
42 42 42 42 42
Sales Tax Rate 10.00
percent
10 10 10 10 10
Social Security Rate 14.40
percent
14.4 14.4 14.4 14 14.4
Social Security Rate For Companies 8.40
percent
8.4 8.4 8.4 8.4 8.4
Social Security Rate For Employees 6.00
percent
6 6 6 6 6
CLIMATE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Precipitation 292.23
mm
247 202 251 319 260
Temperature 25.56
celsius
24.46 23.92 24.81 24.9 25.06