Markets Actual Q2 Q3 Q4 Q1 2023
Currency 3.52 3.56 3.57 3.59 3.61 3.64

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Annual Growth Rate (%) -3.80 4 4 4 4 4
Unemployment Rate (%) 2.70 2.9 2.9 2.9 2.9 2.5
Inflation Rate (%) 5.70 5.5 5 4 3 4
Interest Rate (%) 3.00 3.5 3.5 3.75 3.75 3.75
Balance of Trade (PGK Million) 6832.00 5568 5234 5552 5560 5511
Current Account to GDP (% of GDP) 16.90 19.5 19.5 19.5 19.5 18.4
Government Debt to GDP (% of GDP) 48.90 52.1 52.1 52.1 52.1 52.5
Government Budget (% of GDP) -8.10 -5.3 -5.3 -5.3 -5.3 -3.2
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 42.00 42 42 42 42 42

GDP Actual Q2 Q3 Q4 Q1 2023
GDP Annual Growth Rate (%) -3.80 4 4 4 4 4
GDP (USD Billion) 23.59 26 26 26 26 26
GDP per capita (USD) 2690.81 2650 2650 2650 2650 2650
GDP per capita PPP (USD) 4101.22 4320 4320 4320 4320 4320

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 2.70 2.9 2.9 2.9 2.9 2.5
Minimum Wages (PGK/Week) 140.80 180 180 180 180 180
Population (Million) 8.95 9.12 9.12 9.29 9.29 9.29

Prices Actual Q2 Q3 Q4 Q1 2023
Inflation Rate (%) 5.70 5.5 5 4 3 4
Food Inflation (%) 5.20 3.3 3.3 3.3 3.3 3.3

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 3.00 3.5 3.5 3.75 3.75 3.75
Deposit Interest Rate (%) 0.88 1.13 1.38 1.38 1.63 1.63

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (PGK Million) 6832.00 5568 5234 5552 5560 5511
Current Account to GDP (% of GDP) 16.90 19.5 19.5 19.5 19.5 18.4

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 48.90 52.1 52.1 52.1 52.1 52.5
Government Budget (% of GDP) -8.10 -5.3 -5.3 -5.3 -5.3 -3.2

Taxes Actual Q2 Q3 Q4 Q1 2023
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 42.00 42 42 42 42 42
Sales Tax Rate (%) 10.00 10 10 10 10 10
Social Security Rate (%) 14.40 14.4 14.4 14.4 14.4 14.4
Social Security Rate For Companies (%) 8.40 8.4 8.4 8.4 8.4 8.4
Social Security Rate For Employees (%) 6.00 6 6 6 6 6


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Papua New Guinea Forecast - was last updated on Tuesday, May 17, 2022.