Gross Domestic Product — Annual growth Standard Local Currency in Papua New Guinea
Papua New Guinea: Gross Domestic Product — Annual growth Standard Local Currency was 12.37 % in 2024. ◆ Volatile
Gross Domestic Product — Annual growth Standard Local Currency in Papua New Guinea, 1971–2024
Source: Food and Agriculture Organization of the United Nations. Measured in %.
Analysis
Papua New Guinea recorded 12.37 % for gross domestic product — annual growth standard local currency in 2024.
The figure is up 12,447.2% on the previous year and down 37.3% over ten years.
Over the whole period, gross domestic product — annual growth standard local currency in Papua New Guinea peaked at 27.56 % in 1973 and was at its lowest, -3.92 %, in 1989.
Papua New Guinea ranks 42nd of 202 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Annual growth Standard Local Currency in Papua New Guinea, year by year
| Year | % | Change |
|---|---|---|
| 1971 | 10.38 % | — |
| 1972 | 13.19 % | +27.1% |
| 1973 | 27.56 % | +108.9% |
| 1974 | 12.04 % | -56.3% |
| 1975 | 1.36 % | -88.7% |
| 1976 | 11.66 % | +756.4% |
| 1977 | 9.91 % | -15.0% |
| 1978 | 8.84 % | -10.8% |
| 1979 | 15.51 % | +75.4% |
| 1980 | 4.63 % | -70.1% |
| 1981 | -1.57 % | -134.0% |
| 1982 | 4.04 % | -356.5% |
| 1983 | 12.84 % | +217.9% |
| 1984 | 6.37 % | -50.4% |
| 1985 | 5.28 % | -17.2% |
| 1986 | 7.07 % | +34.0% |
| 1987 | 10.96 % | +55.1% |
| 1988 | 11.05 % | +0.8% |
| 1989 | -3.92 % | -135.4% |
| 1990 | 0.9981 % | -125.5% |
| 1991 | 17.21 % | +1624.2% |
| 1992 | 14.82 % | -13.9% |
| 1993 | 15.25 % | +2.9% |
| 1994 | 10.57 % | -30.7% |
| 1995 | 15.12 % | +43.1% |
| 1996 | 9.68 % | -36.0% |
| 1997 | 4.19 % | -56.7% |
| 1998 | 10.23 % | +143.9% |
| 1999 | 13.13 % | +28.4% |
| 2000 | 10.28 % | -21.7% |
| 2001 | 6.78 % | -34.0% |
| 2002 | 14.2 % | +109.3% |
| 2003 | 11.53 % | -18.8% |
| 2004 | 1.65 % | -85.7% |
| 2005 | 12.15 % | +638.3% |
| 2006 | 11.94 % | -1.7% |
| 2007 | 10.83 % | -9.3% |
| 2008 | 11.33 % | +4.7% |
| 2009 | 1.59 % | -86.0% |
| 2010 | 21.05 % | +1224.5% |
| 2011 | 10.04 % | -52.3% |
| 2012 | 4.06 % | -59.6% |
| 2013 | 7.55 % | +86.1% |
| 2014 | 19.72 % | +161.2% |
| 2015 | 5.27 % | -73.3% |
| 2016 | 8.15 % | +54.7% |
| 2017 | 11.51 % | +41.2% |
| 2018 | 9.49 % | -17.5% |
| 2019 | 5.59 % | -41.1% |
| 2020 | -1.58 % | -128.3% |
| 2021 | 11.04 % | -796.7% |
| 2022 | 21.41 % | +93.9% |
| 2023 | 0.0986 % | -99.5% |
| 2024 | 12.37 % | +12447.2% |
Papua New Guinea compared with similar countries
- Papua New Guinea's 12.37 % is above the median for lower middle income countries, which is 9.89 %, 1.2× the median. (41 countries reporting)
- Papua New Guinea's 12.37 % is above the median for East Asia & Pacific, which is 7.2 %, 1.7× the median. (24 countries reporting)
Biggest year-on-year movements
Years where Gross Domestic Product — Annual growth Standard Local Currency 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 |
|---|---|---|---|
| 2024 | +12447.2% | 0.0986 % | 12.37 % |
| 1991 | +1624.2% | 0.9981 % | 17.21 % |
| 2010 | +1224.5% | 1.59 % | 21.05 % |
| 2021 | +796.7% | -1.58 % | 11.04 % |
| 1976 | +756.4% | 1.36 % | 11.66 % |
| 2005 | +638.3% | 1.65 % | 12.15 % |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 12.27 % | 1.36 % | 27.56 % | 9 |
| 1980s | 5.67 % | -3.92 % | 12.84 % | 10 |
| 1990s | 11.12 % | 0.9981 % | 17.21 % | 10 |
| 2000s | 9.23 % | 1.59 % | 14.2 % | 10 |
| 2010s | 10.24 % | 4.06 % | 21.05 % | 10 |
| 2020s | 8.67 % | -1.58 % | 21.41 % | 5 |
Countries ranked near Papua New Guinea
- 39 Kazakhstan 13.24 % compare
- 40 Belarus 13.13 % compare
- 41 Rwanda 12.99 % compare
- 43 Madagascar 12.15 % compare
- 44 Bangladesh 11.4 % compare
- 45 Palau 11.27 % compare
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 gross domestic product — annual growth standard local currency in Papua New Guinea?
- Gross domestic product — annual growth standard local currency in Papua New Guinea was 12.37 % in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — annual growth standard local currency recorded in Papua New Guinea?
- The highest recorded value was 27.56 % in 1973.
- What is the lowest gross domestic product — annual growth standard local currency recorded in Papua New Guinea?
- The lowest recorded value was -3.92 % in 1989.
- How does Papua New Guinea rank for gross domestic product — annual growth standard local currency?
- Papua New Guinea ranks 42nd out of 202 countries with data for 2024.
- Is gross domestic product — annual growth standard local currency rising or falling in Papua New Guinea?
- Over the last ten years it is down 37.3%. The long-run trend across the full record is volatile.
- Where does this Papua New Guinea data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Annual growth Standard Local Currency. Statizoid updates them automatically from the source API.
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).