Markets Actual Q4 Q1 Q2 Q3 2021
Currency 3.50 3.51 3.52 3.53 3.54 3.56

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Annual Growth Rate (%) 5.00 -0.6 3.2 3.2 3.2 3.2
Unemployment Rate (%) 2.40 4.5 3.5 3.5 3.5 3.5
Inflation Rate (%) 3.10 3.3 3.4 3.5 3.5 3.5
Interest Rate (%) 3.00 3 3 3.5 3.5 4
Balance of Trade (PGK Million) 6676.00 5511 5234 5552 5552 5476
Current Account to GDP (%) 26.70 25 24 24 24 24
Government Debt to GDP (%) 39.80 41 41 41 41 42
Government Budget (% of GDP) -4.90 -4 -3.5 -3.5 -3.5 -3.5
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 42.00 42 42 42 42 42

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Annual Growth Rate (%) 5.00 -0.6 3.2 3.2 3.2 3.2
GDP (USD Billion) 24.97 23 26 26 26 26
GDP per capita (USD) 2505.10 2400 2500 2500 2500 2500
GDP per capita PPP (USD) 4387.60 4100 4200 4200 4200 4200

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 2.40 4.5 3.5 3.5 3.5 3.5
Minimum Wages (PGK/Week) 140.80 141 180 180 180 180
Population (Million) 8.42 8.95 9.12 9.12 9.12 9.12

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 3.10 3.3 3.4 3.5 3.5 3.5
Food Inflation (%) 2.40 2.8 3 3.1 3.1 3.6

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 3.00 3 3 3.5 3.5 4
Deposit Interest Rate (%) 0.88 0.5 0.88 0.88 1.38 0.5

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (PGK Million) 6676.00 5511 5234 5552 5552 5476
Current Account to GDP (%) 26.70 25 24 24 24 24

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 39.80 41 41 41 41 42
Government Budget (% of GDP) -4.90 -4 -3.5 -3.5 -3.5 -3.5

Taxes Actual Q4 Q1 Q2 Q3 2021
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.