Papua New Guinea: Oil rents (% of GDP)
In , Papua New Guinea's Oil rents (% of GDP) was 1.88.
That's up 164.1% from 2020, the highest value since .
The global average for this indicator in 2021 was 2.59 . Papua New Guinea ranks #34 globally out of 190 reporting countries. Within East Asia & Pacific, it ranks #3 of 31.
Source: World Bank Open Data (NY.GDP.PETR.RT.ZS) • Data as of 2021
Trend (2002–2021)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
Highlights
- Peak
- 13.58
- Trough
- 0.71
- 1-year change
- +164.1%
- 5-year change
- +0.5%
- +0.1% / yr
- 10-year change
- -61.4%
- -9.1% / yr
Historical Data — Last 10 Years
| Year | Oil rents (% of GDP) |
|---|---|
| 1.8750 | |
| 0.7099 | |
| 1.5719 | |
| 2.2269 | |
| 2.2258 | |
| 1.8658 | |
| 2.2712 | |
| 4.5168 | |
| 3.4362 | |
| 3.5654 |
About Oil rents (% of GDP)
Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.
Indicator code: NY.GDP.PETR.RT.ZS • Category: Economy
Frequently asked questions
- What was Papua New Guinea's Oil rents (% of GDP) in 2021?
- In 2021, Papua New Guinea's Oil rents (% of GDP) was 1.88, according to World Bank Open Data.
- Is Papua New Guinea's Oil rents (% of GDP) rising or falling?
- Papua New Guinea's Oil rents (% of GDP) rose 164.1% from 2020 to 2021.
- How does Papua New Guinea rank globally on Oil rents (% of GDP)?
- In 2021, Papua New Guinea ranked #34 out of 190 countries reporting Oil rents (% of GDP).
- How does Papua New Guinea's Oil rents (% of GDP) compare to the world average?
- The global average for Oil rents (% of GDP) in 2021 was 2.59, so Papua New Guinea is below the world average. Within East Asia & Pacific, it ranks #3 of 31.
- What is Oil rents (% of GDP) and how is it measured?
- Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.
Source: World Bank Open Data (NY.GDP.PETR.RT.ZS), CC BY 4.0.