The economy of Papua New Guinea (PNG) is largely underdeveloped with the vast majority of the population living below the poverty line. [20] However, according to the Asian Development Bank its GDP is expected to grow 3.4% in 2022 and 4.6% in 2023. [21]

Papua New Guinea’s economy is forecast to accelerate in 2024 after a slowdown last year, yet greater investment in education is critical to the country’s longer-term economic future. The May 2024 Economic Update outlines a recovery to pre-COVID output levels.

The latest available economic data for Papua New Guinea compared to countries in the Pacific. The current and projected economic growth in Papua New Guinea, compared with other developing countries in the Pacific.

Want to get insight on the economic outlook for Papua New Guinea in the coming years? FocusEconomics collects projections out to 2034 on 33 economic indicators for Papua New Guinea from a panel of 3 analysts at the leading national, regional and global forecast institutions.

In 2023, Papua New Guinea exported a total of $12.5B, making it the number 93 exporter in the world. During the last five reported years the exports of Papua New Guinea have changed by $1.36B from $11.2B in 2018 to $12.5B in 2023.

Papua New Guinea’s economy is now rebounding from the pandemic period, with high commodity prices and the removal of COVID-19 restrictions accelerating economic growth to 4.5 percent for 2022, the World Bank’s latest Economic Update for Papua New Guinea has found.

2022年3月4日 · A new World Bank report says Papua New Guinea’s economy is projected to grow by four percent in 2022, driven largely by growth in the extractives sector.

Economic activity in Papua New Guinea (PNG) normalized across sectors following the impact of COVID-19. There were no additional surges of COVID-19 cases or national lockdowns in 2022, even though by the end of the year only about 3% of the population was fully vaccinated. This is the lowest vaccination rate in developing Asia.

Economic Indicators for Papua New Guinea including actual values, historical data, and latest data updates for the Papua New Guinea economy.

Papua New Guinea witnessed a robust recovery in economic activity throughout 2022, outperforming the global economic outturn. According to estimates by the central bank, PNG’s real gross...