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 Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 3.23
3.34 3.46 3.58 3.7 4.24
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Annual Growth Rate 2.60
percent
8.3 9.3 10.3 6.5 4.5
GDP 16.93
USD Billion
17.07 17.65 18.22 19.9 23
GDP per capita 1716.50
USD
1657 1683 1709 1920 2100
GDP per capita PPP 4190.66
USD
4314 4327 4341 4354 4567
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 2.50
percent
2.5 2.5 2.5 2.5 2.5
Minimum Wages 140.00
PGK/Week
140 140 140 140 170
Population 8.08
Million
8.12 8.16 8.2 8.24 8.73
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 5.10
percent
6.5 6 5.5 7 6.5
Food Inflation 3.80
percent
4.33 4.67 4.73 4.71 4.34
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 6.25
percent
6.25 6.25 6.5 6.5 7.5
Deposit Interest Rate 0.60
percent
0.71 0.75 0.78 0.82 1.5
Loan Growth -4.50
percent
-2.28 -0.9 0.26 1.2 4.88
Foreign Exchange Reserves 1691.90
USD Million
1688 1706 1727 1748 1950
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade 5682.00
PGK Million
4992 4766 4555 4354 2754
Exports 7768.00
PGK Million
7193 7209 7102 7087 6436
Imports 2086.00
PGK Million
1952 1924 1942 1910 1788
Current Account 1774.20
PGK Million
1267 1091 946 825 217
Current Account to GDP 15.30
percent
3 3 18.05 23 -1
Gold Reserves 1.96
Tonnes
1.96 1.96 1.96 1.96 1.96
Terrorism Index 0.00
0.02 0.02 0.02 0.02 0.3
Crude Oil Production 51.00
BBL/D/1K
52.62 53.16 53.67 54.16 57.34
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 33.50
percent
38 38 32.9 38 33.8
Government Budget -4.60
percent of GDP
-3.26 -3.4 -3.54 -3.67 -1.23
Military Expenditure 87.40
USD Million
96.63 94.72 92.81 90.91 89.91
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Internet Speed 7028.40
KBps
7201 6863 6314 6556 4928
IP Addresses 3633.00
IP
3595 3562 3499 3481 3310
Ease of Doing Business 109.00
107 103 99 95 96
Corruption Index 28.00
Points
25 25 25 26 24
Corruption Rank 136.00
138 136 135 133 138
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 30.00
percent
30 30 30 30 29
Personal Income Tax Rate 42.00
percent
42 42 42 42 43
Sales Tax Rate 10.00
percent
10 10 10 10 10
Social Security Rate 14.40
percent
14 14 14 14.4 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 Q1/18 Q2/18 Q3/18 Q4/18 2020
Precipitation 292.23
mm
318 247 202 251 260
Temperature 25.56
celsius
24.85 24.46 23.92 24.81 25.06