Net errors and omissions in Papua New Guinea
Papua New Guinea: Net errors and omissions was -33.44 million BoP, current US$ in 2024. ◆ Volatile
Net errors and omissions in Papua New Guinea, 1976–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
Papua New Guinea recorded -33.44 million BoP, current US$ for net errors and omissions in 2024.
The figure is down 116.9% on the previous year and down 104.6% over ten years.
Over the whole period, net errors and omissions in Papua New Guinea peaked at 1.43 billion BoP, current US$ in 2013 and was at its lowest, -1.45 billion BoP, current US$, in 2020.
That places Papua New Guinea 109th out of 197 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -14.60 million BoP, current US$ | -38.72 million BoP, current US$ | 9.58 million BoP, current US$ | 4 |
| 1980s | 15.09 million BoP, current US$ | -67.40 million BoP, current US$ | 115.29 million BoP, current US$ | 10 |
| 1990s | -18.59 million BoP, current US$ | -57.59 million BoP, current US$ | 7.89 million BoP, current US$ | 10 |
| 2000s | -384.48 million BoP, current US$ | -1.32 billion BoP, current US$ | 365.98 million BoP, current US$ | 10 |
| 2010s | 261.29 million BoP, current US$ | -1.06 billion BoP, current US$ | 1.43 billion BoP, current US$ | 10 |
| 2020s | 31.29 million BoP, current US$ | -1.45 billion BoP, current US$ | 960.67 million BoP, current US$ | 5 |
Countries ranked near Papua New Guinea
- 106 Belize -31.22 million BoP, current US$ compare
- 107 Aruba -31.77 million BoP, current US$ compare
- 108 Chad -32.00 million BoP, current US$ compare
- 110 French Polynesia -34.59 million BoP, current US$ compare
- 111 Palau -38.17 million BoP, current US$ compare
- 112 Cape Verde -38.88 million BoP, current US$ compare
More economy & growth data for Papua New Guinea
- External balance on goods and services as a percent of GDP 13.2% (2004)
- Inflation of consumer prices 4.4% (2025)
- GDP per capita 2,665 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 1.6% (2024)
- Gross domestic product (GDP) 28.68 billion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 2,665 constant 2015 US$ (2025)
- DEC alternative conversion factor 4.12 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) 931.74 million current LCU (2025)
- Net secondary income (Net current transfers from abroad) 226.00 million current US$ (2025)
- Taxes less subsidies on products 5.32 billion current LCU (2024)
Frequently asked questions
- What is net errors and omissions in Papua New Guinea?
- Net errors and omissions in Papua New Guinea was -33.44 million BoP, current US$ in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net errors and omissions recorded in Papua New Guinea?
- The highest recorded value was 1.43 billion BoP, current US$ in 2013.
- What is the lowest net errors and omissions recorded in Papua New Guinea?
- The lowest recorded value was -1.45 billion BoP, current US$ in 2020.
- How does Papua New Guinea rank for net errors and omissions?
- Papua New Guinea ranks 109th out of 197 countries with data for 2024.
- Is net errors and omissions rising or falling in Papua New Guinea?
- Over the last ten years it is down 104.6%. 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 Net errors and omissions (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.