Economy of Papua New Guinea

Imports

Imports commoditiesmachinery and transport equipment, manufactured goods, food, fuels, chemicals

Import partnersAustralia 36.3%, Singapore 13.8%, Malaysia 8.4%, China 7.9%, Japan 5.8%, US 4.8% (2012)

Exports

Exports commoditiesoil, gold, copper ore, logs, palm oil, coffee, cocoa, crayfish, prawns

Export partnersAustralia 30.1%, Japan 9.9%, China 5%, Germany 4.1% (2012)

Economy sectors

Agriculture productscoffee, cocoa, copra, palm kernels, tea, sugar, rubber, sweet potatoes, fruit, vegetables, vanilla; poultry, pork; shellfish

Industrial productscopra crushing, palm oil processing, plywood production, wood chip production; mining (gold, silver, and copper); crude oil production, petroleum refining; construction, tourism

Economy

Unemployment2.30 % (2012)2.20 % (2011)2.40 % (2010)

Unemployment of Papua New Guinea

GDP - Official Exchange Rate16.1 Billion $ (2013)14.9 Billion $ (2012)12.4 Billion $ (2011)

GDP - Official Exchange Rate of Papua New Guinea

GDP growth rate5.40 % (2013)8.10 % (2012)8.90 % (2011)

GDP growth rate of Papua New Guinea

GDP per Capita (PPP)2,900 $ (2013)2,700 $ (2012)2,600 $ (2011)

GDP per Capita (PPP) of Papua New Guinea

GDP - Purchasing Power Parity20.0 Billion $ (2013)18.7 Billion $ (2012)17.1 Billion $ (2011)

GDP - Purchasing Power Parity of Papua New Guinea

GDP PPP per land area43,125 $ per square kilometer (2013)40,360 $ per square kilometer (2012)37,032 $ per square kilometer (2011)

GDP PPP per land area of Papua New Guinea

Electricity

Electricity - installed generating capacity700 Thousand kW

Banking

Central bank discount rate14.0 % (2010)6.92 % (2009)7.00 % (2008)

Central bank discount rate of Papua New Guinea

Commercial bank prime lending rate10.6 % (2013)10.8 % (2012)10.8 % (2011)

Commercial bank prime lending rate of Papua New Guinea

GDP decomposition by sector

Agriculture % of GDP27.6 % (2013)28.2 % (2012)

Industry % of GDP39.1 % (2013)38.9 % (2012)

Services % of GDP33.3 % (2013)32.9 % (2012)

Tourism

International tourism, number of arrivals165 Thousand (2011)146 Thousand (2010)126 Thousand (2009)

International tourism, number of arrivals of Papua New Guinea

International tourism, number of departures92,000 (2002)38,000 (2001)52,000 (2000)

International tourism, number of departures of Papua New Guinea

Yearly Tourist arrivals to residents ratio2.67 % (2011)2.13 % (2010)1.88 % (2009)

Yearly Tourist arrivals to residents ratio of Papua New Guinea

Debt, Current Account Balance and Budget Deficit

Public debt (Percentage of GDP)28.1 % of GDP (2013)25.5 % of GDP (2012)22.9 % of GDP (2011)

Public debt (Percentage of GDP) of Papua New Guinea

Budget surplus (+) or deficit (-)-1.60 % of GDP

Current Account Balance (Percentage of GDP)-14.69 % of GDP (2012)-1.39 % of GDP (2011)-6.68 % of GDP (2010)

Current Account Balance (Percentage of GDP) of Papua New Guinea

External Debt Stocks (Percentage of GNI)154 % of GNI (2012)105 % of GNI (2011)64.4 % of GNI (2010)

External Debt Stocks (Percentage of GNI) of Papua New Guinea

Short-term debt (percentage of total external debt)1.23 % of total external debt (2012)0.98 % of total external debt (2011)6.57 % of total external debt (2010)

Short-term debt (percentage of total external debt) of Papua New Guinea

Current Account Balance (Total)-2.40 Billion $ (2013)-3.03 Billion $ (2012)-48.50 Million $ (2011)

Current Account Balance (Total) of Papua New Guinea

External Debt (Total)13.6 Billion $ (2013)13.0 Billion $ (2012)5.14 Billion $ (2011)

External Debt (Total) of Papua New Guinea

External Debt (Percentage of GDP)84.5 % of GDP (2013)86.8 % of GDP (2012)41.5 % of GDP (2011)

External Debt (Percentage of GDP) of Papua New Guinea

External Debt per Capita2,116 $ (2013)2,054 $ (2012)831 $ (2011)

External Debt per Capita of Papua New Guinea