Current account balance in Papua New Guinea
Papua New Guinea: Current account balance was 15.5% in 2024. ◆ Volatile
Current account balance in Papua New Guinea, 1976–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for current account balance in Papua New Guinea is 15.5%, measured in 2024.
Compared with earlier readings it is up 70.7% on the previous year and up 27.5% over ten years.
Over the whole period, current account balance in Papua New Guinea peaked at 15.9% in 2017 and was at its lowest, -19.4%, in 1981.
Papua New Guinea ranks 11th of 200 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Papua New Guinea, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1976 | 3.4% | — |
| 1977 | 7.0% | +107.4% |
| 1978 | -1.7% | -123.7% |
| 1979 | 4.7% | -382.3% |
| 1980 | -11.3% | -343.2% |
| 1981 | -19.4% | +70.9% |
| 1982 | -18.8% | -3.1% |
| 1983 | -13.2% | -29.9% |
| 1984 | -11.3% | -13.8% |
| 1985 | -5.0% | -55.7% |
| 1986 | -3.7% | -26.3% |
| 1987 | -6.3% | +69.9% |
| 1988 | -8.1% | +28.8% |
| 1989 | -8.8% | +8.8% |
| 1990 | -2.4% | -73.3% |
| 1991 | -4.0% | +69.7% |
| 1992 | 2.2% | -154.4% |
| 1993 | 13.0% | +498.0% |
| 1994 | 10.3% | -20.4% |
| 1995 | 14.5% | +40.6% |
| 1996 | 6.1% | -58.2% |
| 1997 | -2.0% | -133.0% |
| 1998 | 1.2% | -162.2% |
| 1999 | 3.5% | +176.6% |
| 2000 | 10.0% | +188.6% |
| 2001 | 9.3% | -6.7% |
| 2002 | -0.8% | -109.0% |
| 2003 | 4.0% | -579.7% |
| 2004 | 4.8% | +19.2% |
| 2005 | 13.4% | +178.7% |
| 2006 | 5.3% | -60.5% |
| 2007 | 1.9% | -64.1% |
| 2008 | 6.8% | +259.6% |
| 2009 | -5.1% | -174.7% |
| 2010 | -4.5% | -11.5% |
| 2011 | -1.1% | -75.6% |
| 2012 | -10.8% | +880.6% |
| 2013 | -16.2% | +50.4% |
| 2014 | 12.1% | -174.8% |
| 2015 | 11.2% | -7.7% |
| 2016 | 13.6% | +21.6% |
| 2017 | 15.9% | +16.7% |
| 2018 | 13.6% | -14.3% |
| 2019 | 14.4% | +5.5% |
| 2020 | 14.3% | -0.3% |
| 2021 | 12.6% | -12.3% |
| 2022 | 14.4% | +14.7% |
| 2023 | 9.1% | -37.2% |
| 2024 | 15.5% | +70.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 3.3% | -1.7% | 7.0% | 4 |
| 1980s | -10.6% | -19.4% | -3.7% | 10 |
| 1990s | 4.2% | -4.0% | 14.5% | 10 |
| 2000s | 4.9% | -5.1% | 13.4% | 10 |
| 2010s | 4.8% | -16.2% | 15.9% | 10 |
| 2020s | 13.2% | 9.1% | 15.5% | 5 |
Countries ranked near Papua New Guinea
More economy & growth data for Papua New Guinea
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.47 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.11 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 769.57 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.025 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 72.76 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -198.32 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -557.97 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0064 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita -18.75 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate -4.93 % change on previous year (2024)
Frequently asked questions
- What is current account balance in Papua New Guinea?
- Current account balance in Papua New Guinea was 15.5% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Papua New Guinea?
- The highest recorded value was 15.9% in 2017.
- What is the lowest current account balance recorded in Papua New Guinea?
- The lowest recorded value was -19.4% in 1981.
- How does Papua New Guinea rank for current account balance?
- Papua New Guinea ranks 11th out of 200 countries with data for 2024.
- Is current account balance rising or falling in Papua New Guinea?
- Over the last ten years it is up 27.5%. The long-run trend across the full record is volatile.
- Where does this Papua New Guinea data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.