Markets Actual Q3 Q4 Q1 Q2 2022
Currency 3.51 3.53 3.54 3.56 3.57 3.6

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) -3.80 3.6 3.6 4 4 4
Unemployment Rate (%) 2.70 3.5 3.5 2.9 2.9 2.9
Inflation Rate (%) 3.30 4.2 4.4 3.8 3.5 4
Interest Rate (%) 3.00 3 3 3.25 3.5 3.75
Balance of Trade (PGK Million) 6416.00 5568 5476 5476 5476 5511
Current Account to GDP (% of GDP) 16.90 18.6 18.6 19.5 19.5 19.5
Government Debt to GDP (% of GDP) 48.90 51.5 51.5 52.1 52.1 52.1
Government Budget (% of GDP) -8.10 -7.3 -7.3 -5.3 -5.3 -5.3
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 42.00 42 42 42 42 42

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) -3.80 3.6 3.6 4 4 4
GDP (USD Billion) 23.59 26 26 26 26 26
GDP per capita (USD) 2346.80 2500 2500 2500 2500 2650
GDP per capita PPP (USD) 4101.22 4200 4200 4200 4200 4320

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 2.70 3.5 3.5 2.9 2.9 2.9
Minimum Wages (PGK/Week) 140.80 180 180 180 180 180
Population (Million) 8.95 9.12 9.12 9.12 9.12 9.29

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 3.30 4.2 4.4 3.8 3.5 4
Food Inflation (%) 4.90 3.1 3.6 3.6 3.6 3.3

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 3.00 3 3 3.25 3.5 3.75
Deposit Interest Rate (%) 0.88 0.88 0.5 0.88 1.13 1.38

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (PGK Million) 6416.00 5568 5476 5476 5476 5511
Current Account to GDP (% of GDP) 16.90 18.6 18.6 19.5 19.5 19.5

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 48.90 51.5 51.5 52.1 52.1 52.1
Government Budget (% of GDP) -8.10 -7.3 -7.3 -5.3 -5.3 -5.3

Taxes Actual Q3 Q4 Q1 Q2 2022
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


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.