The Gross Domestic Product (GDP) in Papua New Guinea expanded 3.80 percent in the fourth quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Papua New Guinea averaged 3.81 percent from 1961 until 2024, reaching an all time high of 18.20 percent in 1993 and a record low of -3.90 percent in 1997. source: World Bank

GDP Annual Growth Rate in Papua New Guinea is expected to reach 3.20 percent by the end of 2026, according to Trading Economics global macro models and analysts expectations. In the long-term, the Papua New Guinea GDP Annual Growth Rate is projected to trend around 3.20 percent in 2027, according to our econometric models.



Related Last Previous Unit Reference
GDP 32.54 30.82 USD Billion Dec 2024
GDP Annual Growth Rate 3.80 3.80 percent Dec 2024
GDP per Capita 2572.03 2515.29 USD Dec 2024
GDP per Capita PPP 4300.73 4205.85 USD Dec 2024


Papua New Guinea GDP Annual Growth Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
3.80 3.80 18.20 -3.90 1961 - 2024 percent Yearly