Markets Actual Q1 Q2 Q3 Q4 2020
Currency 3.41 3.42 3.43 3.44 3.45 3.46
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 0.30 2.5 2.5 2.5 2.5 2.4
Unemployment Rate (%) 2.40 2.5 2.5 2.5 2.5 2.5
Inflation Rate (%) 3.30 3.6 3.4 3.2 3.3 3.5
Interest Rate (%) 5.00 5 5 4.5 4.5 4
Balance of Trade (PGK Million) 7349.00 5568 5234 5552 5560 5511
Current Account to GDP (%) 26.70 25 25 25 25 24
Government Debt to GDP (%) 36.90 41 41 41 41 42
Government Budget (% of GDP) -2.30 -4 -4 -4 -4 -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 Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 0.30 2.5 2.5 2.5 2.5 2.4
GDP (USD Billion) 23.43 25 25 25 25 26
GDP per capita (USD) 2400.20 2527 2527 2527 2527 2590
GDP per capita PPP (USD) 3821.00 4100 4100 4100 4100 4100
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 2.40 2.5 2.5 2.5 2.5 2.5
Minimum Wages (PGK/Week) 140.00 180 180 180 180 180
Population (Million) 8.61 8.95 8.95 8.95 8.95 9.12
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 3.30 3.6 3.4 3.2 3.3 3.5
Food Inflation (%) 3.00 2.5 2.3 2.5 2.8 3.6
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 5.00 5 5 4.5 4.5 4
Deposit Interest Rate (%) 0.50 0.5 0.5 0 0 -0.5
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (PGK Million) 7349.00 5568 5234 5552 5560 5511
Current Account to GDP (%) 26.70 25 25 25 25 24
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 36.90 41 41 41 41 42
Government Budget (% of GDP) -2.30 -4 -4 -4 -4 -3.5
Taxes Actual Q1 Q2 Q3 Q4 2020
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.