Papua New Guinea: economy

What is Papua New Guinea's GDP growth rate?

Papua New Guinea's real GDP grew 6.2% in 2025, from K72.2 billion to K76.7 billion in constant prices, according to the National Statistical Office (NSO), which released the figures on 30 September 2026. Growth was 3.9% in 2024.

The NSO says agriculture and mining were the main drivers. Constant-price GDP removes the effect of price changes. For 2026, the Department of Treasury estimates growth of 3.2% in its Mid-Year Economic and Fiscal Outlook, citing lower production at the Porgera and Ok Tedi mines, with the non-resource economy growing 4.5%. The IMF projects 3.1%.

Official sources: NSO: PNG Economy Grows +6.2% in 2025 · PNG Treasury: 2026 Mid-Year Economic and Fiscal Outlook · IMF World Economic Outlook, October 2026

How big is Papua New Guinea's economy?

Papua New Guinea's GDP at current prices was K136.5 billion in 2025, up 15.0% from K118.7 billion in 2024, according to the National Statistical Office. Mining rose 27.0% and agriculture, forestry and fishing 18.3%.

Current-price GDP includes both changes in output and in prices, so it rose much faster than real GDP (6.2%), largely because of higher gold and oil prices. The Department of Treasury estimates nominal GDP of about K160.8 billion in 2026. Per person, the IMF estimates about $3,183 in 2025, converted at market exchange rates.

Official sources: NSO: PNG Economy Grows +6.2% in 2025 · PNG Treasury: 2026 Mid-Year Economic and Fiscal Outlook · IMF World Economic Outlook, October 2026

What is the inflation rate in Papua New Guinea?

Consumer prices in Papua New Guinea were 2.2% higher in the March quarter of 2026 than a year earlier, according to the Department of Treasury's 2026 Mid-Year Economic and Fiscal Outlook, using the NSO's consumer price index. Headline inflation averaged 4.4% in 2025, after 0.6% in 2024.

The CPI is published quarterly. The Treasury forecasts inflation of 4.5% for 2026 and names rising oil prices and a possible strong El Niño as risks. The largest contributor in early 2026 was alcoholic beverages, tobacco and betelnut, up 8.0%. The NSO home page shows a 0.7% rise in its price index for June 2026.

Official sources: PNG Treasury: 2026 Mid-Year Economic and Fiscal Outlook · National Statistical Office

How fast is Papua New Guinea's economy growing?

5.6%: that is real GDP growth in Papua New Guinea for 2025, according to the World Bank. Its high point since 2005 was 2014, at 13.5%; its low point was 2020, at -3.2%. Across East Asia & Pacific the middle value was 3.6%, and Papua New Guinea placed 5th highest of 29. Of 180 countries with 2025 data, 37th highest.

What is GDP per capita in Papua New Guinea?

According to the World Bank, GDP per person in Papua New Guinea was $3,020 in 2025. Its high point since 2005 was 2022, at $3,102; its low point was 2005, at $744. Across East Asia & Pacific the middle value was $6,547, and Papua New Guinea placed 23rd highest of 29. Worldwide: 136th of 180.

What is Papua New Guinea's GDP per person adjusted for prices?

In 2025, GDP per person at purchasing power parity in Papua New Guinea was $5,215 in international dollars, according to the World Bank. No year since 2005 has been higher. It is 24th highest of 29 in East Asia & Pacific, where the median is $14,200 in international dollars. Worldwide: 147th of 179.

Does Papua New Guinea have a current account surplus or deficit?

The IMF puts the current account balance in Papua New Guinea at 15.5% of GDP in 2024. Its high point since 2005 was 2017, at 15.9% of GDP; its low point was 2013, at -16.2% of GDP. East Asia & Pacific median: 1.8% of GDP; Papua New Guinea is 3rd highest of 24. World rank, highest first: 8th of 162.

What is FDI in Papua New Guinea?

-3.6% of GDP: that is net inflows of foreign direct investment in Papua New Guinea for 2025, according to the IMF. That is the lowest since at least 2005. It is 28th highest of 28 in East Asia & Pacific, where the median is 1.9% of GDP. Of 179 countries with 2025 data, 176th highest.

What interest rate do banks charge in Papua New Guinea?

According to the IMF, the average bank lending rate in Papua New Guinea was 8.3% in 2024. Since 2005 it has ranged from 7.6% (2021) to 11.5% (2005). East Asia & Pacific median: 5.5%; Papua New Guinea is 5th highest of 13. Of 89 countries with 2024 data, 58th highest.