Papua New Guinea recorded a Current Account surplus of 16.90 percent of the country's Gross Domestic Product in 2020. source: Department of Treasury

Current Account to GDP in Papua New Guinea averaged 6.83 percent from 1994 until 2020, reaching an all time high of 24.70 percent in 2016 and a record low of -16.60 percent in 2013. This page provides - Papua New Guinea Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Papua New Guinea Current Account to GDP - values, historical data and charts - was last updated on July of 2021.

Current Account to GDP in Papua New Guinea is expected to reach 18.60 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Papua New Guinea Current Account to GDP is projected to trend around 19.50 percent in 2022 and 18.40 percent in 2023, according to our econometric models.

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Papua New Guinea Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
16.90 20.40 24.70 -16.60 1994 - 2020 percent of GDP Yearly

Papua New Guinea Trade Last Previous Highest Lowest Unit
Balance of Trade 6416.00 5278.00 7145.00 75.00 PGK Million [+]
Current Account 5741.00 4470.00 6342.00 -2266.00 PGK Million [+]
Current Account to GDP 16.90 20.40 24.70 -16.60 percent of GDP [+]
Imports 1789.00 2136.00 3881.00 518.00 PGK Million [+]
Exports 8204.00 7415.00 10573.00 623.00 PGK Million [+]
Gold Reserves 1.96 1.96 1.96 1.96 Tonnes [+]
Foreign Direct Investment 110.00 127.00 968.00 -799.00 PGK Million [+]
Capital Flows -2986.00 -5177.00 1881.00 -6969.00 PGK Million [+]
Crude Oil Production 39.00 39.00 128.00 4.00 BBL/D/1K [+]
Terrorism Index 0.69 1.36 2.04 0.00 [+]


Papua New Guinea Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.