External balance on goods and services in Papua New Guinea
Papua New Guinea: External balance on goods and services was 13.2% in 2004. ◆ Volatile
External balance on goods and services in Papua New Guinea, 1961–2004
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
In 2004, external balance on goods and services in Papua New Guinea stood at 13.2%.
Compared with earlier readings it is down 13.9% on the previous year and down 3.8% over ten years.
Over the whole period, external balance on goods and services in Papua New Guinea peaked at 17.3% in 1995 and was at its lowest, -36.9%, in 1971.
That places Papua New Guinea 18th out of 193 countries with data for 2004, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Papua New Guinea, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1961 | -12.0% | — |
| 1962 | -11.7% | -2.7% |
| 1963 | -13.6% | +15.8% |
| 1964 | -16.0% | +18.0% |
| 1965 | -19.9% | +24.7% |
| 1966 | -23.3% | +17.0% |
| 1967 | -22.3% | -4.6% |
| 1968 | -21.2% | -4.7% |
| 1969 | -27.0% | +27.2% |
| 1970 | -35.5% | +31.4% |
| 1971 | -36.9% | +4.0% |
| 1972 | -17.0% | -53.8% |
| 1973 | 10.1% | -159.0% |
| 1974 | 7.0% | -30.0% |
| 1975 | -6.2% | -187.8% |
| 1976 | 1.0% | -116.1% |
| 1977 | -1.3% | -230.3% |
| 1978 | -3.5% | +169.2% |
| 1979 | -0.1% | -96.8% |
| 1980 | -10.1% | +9097.4% |
| 1981 | -20.5% | +102.2% |
| 1982 | -23.7% | +15.4% |
| 1983 | -17.3% | -27.1% |
| 1984 | -13.7% | -20.6% |
| 1985 | -10.3% | -24.6% |
| 1986 | -7.8% | -24.7% |
| 1987 | -6.5% | -16.3% |
| 1988 | -8.7% | +33.3% |
| 1989 | -12.1% | +39.5% |
| 1990 | -8.3% | -31.2% |
| 1991 | -9.9% | +18.8% |
| 1992 | 2.1% | -121.7% |
| 1993 | 15.7% | +630.9% |
| 1994 | 13.8% | -12.3% |
| 1995 | 17.3% | +25.9% |
| 1996 | 11.0% | -36.5% |
| 1997 | -0.9% | -108.1% |
| 1998 | 5.2% | -684.8% |
| 1999 | 10.2% | +95.9% |
| 2000 | 16.9% | +65.5% |
| 2001 | 13.1% | -22.8% |
| 2002 | 2.9% | -77.7% |
| 2003 | 15.4% | +428.3% |
| 2004 | 13.2% | -13.9% |
Papua New Guinea compared with similar countries
- Papua New Guinea's 13.2% is above the median for lower middle income countries, which is -9.2%. (45 countries reporting)
- Papua New Guinea's 13.2% is above the median for East Asia & Pacific, which is -9.4%. (34 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services in Papua New Guinea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1980 | -9097.4% | -0.1% | -10.1% |
| 1998 | +684.8% | -0.9% | 5.2% |
| 1993 | +630.9% | 2.1% | 15.7% |
| 2003 | +428.3% | 2.9% | 15.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | -18.6% | -27.0% | -11.7% | 9 |
| 1970s | -8.2% | -36.9% | 10.1% | 10 |
| 1980s | -13.1% | -23.7% | -6.5% | 10 |
| 1990s | 5.6% | -9.9% | 17.3% | 10 |
| 2000s | 12.3% | 2.9% | 16.9% | 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 external balance on goods and services in Papua New Guinea?
- External balance on goods and services in Papua New Guinea was 13.2% in 2004, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Papua New Guinea?
- The highest recorded value was 17.3% in 1995.
- What is the lowest external balance on goods and services recorded in Papua New Guinea?
- The lowest recorded value was -36.9% in 1971.
- How does Papua New Guinea rank for external balance on goods and services?
- Papua New Guinea ranks 18th out of 193 countries with data for 2004.
- Is external balance on goods and services rising or falling in Papua New Guinea?
- Over the last ten years it is down 3.8%. The long-run trend across the full record is volatile.
- Where does this Papua New Guinea data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. 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.