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 Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 3.30
 3.35 3.4 3.46 3.52 3.77
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Annual Growth Rate 2.20
percent		 3 3 2.5 2.5 4.5
GDP 21.09
USD Billion		 23 23 26 26 29
GDP per capita 2401.60
USD		 2450 2450 2500 2500 2600
GDP per capita PPP 3823.20
USD		 3850 3850 4000 4000 4100
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 2.60
percent		 2.57 2.5 2.6 2.6 2.5
Minimum Wages 140.00
PGK/Week		 140 140 150 140 170
Population 8.25
Million		 8.36 8.41 8.45 8.49 8.89
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 4.70
percent		 4.8 6 5.2 5.3 6.5
Food Inflation 1.30
percent		 0.63 1.74 1.9 1.8 1.65
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 6.25
percent		 6.25 6.25 6.25 6.25 6.25
Deposit Interest Rate 0.60
percent		 0.6 0.6 0.6 0.6 0.6
Loan Growth 3.30
percent		 1.19 1.18 1.18 1.19 1.19
Foreign Exchange Reserves 1668.50
USD Million		 1653 1638 1623 1609 1502
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 6699.00
PGK Million		 6631 6821 6606 6800 6684
Exports 8264.00
PGK Million		 7937 8258 7989 8233 8146
Imports 1565.00
PGK Million		 1306 1327 1382 1433 1462
Current Account 316.50
PGK Million		 871 828 805 793 781
Current Account to GDP 15.30
percent		 3 23 2.5 2.5 -1
Gold Reserves 2.00
Tonnes		 2 2 2 2 2
Terrorism Index 0.00
 0 0 0 0 0
Crude Oil Production 28.00
BBL/D/1K		 38.96 39.09 38.96 38.93 38.94
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 33.50
percent		 38 38 40 40 41
Government Budget -2.40
percent of GDP		 -1.06 -1.06 -3.14 -2.6 -0.97
Military Expenditure 69.10
USD Million		 75.45 74.22 73.08 71.94 65.89
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Internet Speed 7028.40
KBps		 8238 8133 7752 8348 8092
IP Addresses 3633.00
IP		 3715 3721 3725 3723 3723
Ease of Doing Business 109.00
 109 105 106 107 108
Corruption Index 29.00
Points		 28 29 28 28 25
Corruption Rank 135.00
 134 134 134 134 136
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 30.00
percent		 30 30 30 30 30
Personal Income Tax Rate 42.00
percent		 42 42 42 42 42
Sales Tax Rate 10.00
percent		 10 10 10 10 10
Social Security Rate 14.40
percent		 14.4 14.4 14 14 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 Q3/18 Q4/18 Q1/19 Q2/19 2020
Precipitation 292.23
mm		 202 251 319 255 260
Temperature 25.56
celsius		 23.92 24.81 24.9 24.94 25.06