The Gross Domestic Product (GDP) in Papua New Guinea expanded 0.30 percent in 2018 from the previous year. GDP Annual Growth Rate in Papua New Guinea averaged 3.89 percent from 1995 until 2018, reaching an all time high of 12.50 percent in 2014 and a record low of -6.34 percent in 1997.

GDP Annual Growth Rate in Papua New Guinea is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Papua New Guinea GDP Annual Growth Rate is projected to trend around 3.20 percent in 2020, according to our econometric models.

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Papua New Guinea GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.30 3.00 12.50 -6.34 1995 - 2018 percent Yearly


Papua New Guinea GDP Annual Growth Rate
Papua New Guinea, one of the poorest and most isolated countries in the world, has been growing consistently in recent years. Papua New Guinea is rich in natural resources, such as oil, gold and copper. Natural resource extraction, the most important sector of the economy, accounts for 60 percent of GDP and a large share of government revenues. Agriculture is also important, since it employs up to 85 percent of the population. Revenues from natural resource exploitation have resulted in high government spending and a construction boom. Yet, as the country suffers from endemic corruption and lacks a functioning legal system, inequality has been increasing.

Papua New Guinea GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 0.30 3.00 12.50 -6.34 percent [+]
GDP 23.43 22.28 23.43 0.23 USD Billion [+]
GDP per capita 2400.20 2437.70 2448.70 1012.40 USD [+]
GDP per capita PPP 3821.00 3880.70 3898.20 2217.80 USD [+]