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 Q4/17 Q1/18 Q2/18 Q3/18 2020
Currency 3.27 3.16 3.13 3.09 3.06 2.71 [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Annual Growth Rate 2.60 7 10.37 9.45 8.52 4.5 percent [+]
GDP 16.93 18.31 18.87 18.95 19.02 23 USD Billion [+]
GDP per capita 1716.50 1885 1729 1723 1716 2100 USD [+]
GDP per capita PPP 2620.90 2630 2614 2599 2583 2010 USD [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 2.50 2.6 2.5 2.5 2.5 2.5 percent [+]
Minimum Wages 140.00 140 140 155 136 170 PGK/Week [+]
Population 8.08 8.24 8.28 8.32 8.36 8.73 Million [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate 5.80 6.2 6.5 6 7 6.5 percent [+]
Food Inflation 2.70 3.26 3.56 4 4.36 4.23 percent [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate 6.25 6.25 6.25 6.25 6.5 7.5 percent [+]
Deposit Interest Rate 0.40 0.68 0.73 0.78 0.84 1.41 percent [+]
Loan Growth 1.10 3.35 4.19 4.79 5.22 6.25 percent [+]
Foreign Exchange Reserves 1776.20 1832 1862 1888 1911 2076 USD Million [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade 5228.00 4569 4337 4123 3924 2683 PGK Million [+]
Exports 6603.00 6213 6161 6144 6080 5630 PGK Million [+]
Imports 1375.00 980 890 1148 910 1123 PGK Million [+]
Current Account 1772.30 1295 1114 963 835 266 PGK Million [+]
Current Account to GDP 4.60 3.7 3 3 20.12 -1 percent [+]
Gold Reserves 1.96 1.96 1.96 1.96 1.96 1.96 Tonnes [+]
Crude Oil Production 45.00 43.91 44.79 45.62 46.42 52.1 BBL/D/1K [+]
Terrorism Index 0.00 0.03 0.04 0.06 0.08 0.46 [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Debt to GDP 33.50 35 38 38 33.6 33.8 percent [+]
Government Budget -4.60 -3.67 -3.14 -2.6 -2.07 -1.23 percent of GDP [+]
Military Expenditure 87.40 90.91 90.59 90.27 89.95 89.91 USD Million [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Ease of Doing Business 119.00 115 111 107 104 98 [+]
Corruption Index 28.00 26 26 26 26 24 Points [+]
Corruption Rank 136.00 133 133 133 134 138 [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Corporate Tax Rate 30.00 29.72 29.65 29.59 29.52 29 percent [+]
Personal Income Tax Rate 42.00 42.29 42.4 42.51 42.62 43.33 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 [+]