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Papua New Guinea: GDP (current US$)

In , Papua New Guinea's GDP (current US$) was $31.80 billion.

That's up 3.2% from 2023, the highest value on record.

The global average for this indicator in 2024 was $572.20 billion . Papua New Guinea ranks #110 globally out of 192 reporting countries. Within East Asia & Pacific, it ranks #16 of 30.

Source: World Bank Open Data (NY.GDP.MKTP.CD) • Data as of 2024

Trend (2005–2024)

Papua New Guinea GDP (current US$) trend 2008: Global financial crisis 2020: COVID-19 pandemic 2014: Oil price collapse 2022: Russia–Ukraine war begins
  • 2008 · Global financial crisis
  • 2020 · COVID-19 pandemic
  • 2014 · Oil price collapse
  • 2022 · Russia–Ukraine war begins

Highlights

Peak
$31.80B
Trough
$4.87B
1-year change
+3.2%
5-year change
+28.5%
+5.1% / yr
10-year change
+37.0%
+3.2% / yr

Real vs nominal growth

Over the last 10 years, Papua New Guinea's nominal GDP (current US$) changed by +37.0%, while real (inflation-adjusted) GDP (constant 2015 US$) changed by +33.1%. The +3.9 percentage-point gap is the combined effect of inflation and currency movement — only the real series isolates underlying economic growth.

Historical Data — Last 10 Years

Year GDP (current US$)
31.800B
30.816B
31.653B
26.109B
23.848B
24.751B
24.110B
22.743B
20.759B
21.723B

About GDP (current US$)

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. 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.

Indicator code: NY.GDP.MKTP.CD • Category: Economy

How to read GDP figures: GDP (Gross Domestic Product) is measured in current US dollars, which means values change both due to real economic growth and currency fluctuations. A more useful comparison across countries is GDP per capita, which divides GDP by population. For growth trends, check GDP growth (annual %).

Frequently asked questions

What was Papua New Guinea's GDP (current US$) in 2024?
In 2024, Papua New Guinea's GDP (current US$) was $31.80 billion, according to World Bank Open Data.
Is Papua New Guinea's GDP (current US$) rising or falling?
Papua New Guinea's GDP (current US$) rose 3.2% from 2023 to 2024.
How does Papua New Guinea rank globally on GDP (current US$)?
In 2024, Papua New Guinea ranked #110 out of 192 countries reporting GDP (current US$).
How does Papua New Guinea's GDP (current US$) compare to the world average?
The global average for GDP (current US$) in 2024 was $572.20 billion, so Papua New Guinea is below the world average. Within East Asia & Pacific, it ranks #16 of 30.
What is GDP (current US$) and how is it measured?
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. 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.
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Source: World Bank Open Data (NY.GDP.MKTP.CD), CC BY 4.0.