Key data points
Last release
—
Observation period
2023
Next release
—
Forecast
—
Highest
13.50 % on Dec 31, 2014
Lowest
−6.34 % on Dec 31, 1997
About Papua New Guinea GDP YoY
Papua New Guinea, one of the poorest and most isolated countries in the world, has been growing consistently in recent years. Papua New Guinea is rich in natural resources, such as oil, gold and copper. Natural resource extraction, the most important sector of the economy, accounts for 60 percent of GDP and a large share of government revenues. Agriculture is also important, since it employs up to 85 percent of the population. Revenues from natural resource exploitation have resulted in high government spending and a construction boom. Yet, as the country suffers from endemic corruption and lacks a functioning legal system, inequality has been increasing.