Papua New Guinea GDP Trends from 1980 to 2024: A overall increase with some decline Flow

Papua New Guinea's GDP changed from approximately $4B 86M in 1980 to $31B 716M in 2024, showing an overall 676.0% sharply increased during the period.
The lowest GDP was recorded in 1985 at $3B 250M, and the highest in 2024 at $31B 716M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.8%.
For comparison, the average annual growth rate of Indonesia was 6.3%, and that of Solomon Islands was 5.2%.

Papua New Guinea GDP from 1980 to 2024

The total market value of goods and services produced annually in Papua New Guinea.

Change Chart

    Overview of Papua New Guinea's GDP (1980–2024)

    The Gross Domestic Product (GDP) of Papua New Guinea recorded a 676.0% sharply increased from 1980 to 2024.
    The average GDP during this period was $11B 915M, and the median was $7B 339M.
    GDP fluctuated within a range of $28B 466M, with a standard deviation of $9B 91M.
    The average annual change was $619M 633K.


    Highest and Lowest GDP Records

    • Lowest GDP: 1985, $3B 250M
    • Highest GDP: 2024, $31B 716M
    • Most Recent GDP: 2024, $31B 716M

    Notable Annual GDP Changes

    • 2022: Significant increase in GDP
    • 1998: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Papua New Guinea's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $24B 751M → $23B 848M
    • Outcome: declined

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $9B 545M → $11B 619M
    • Outcome: sharply increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $5B 169M → $4B 531M
    • Outcome: sharply declined

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $7B 272M → $5B 558M
    • Outcome: sharply declined

    Key Economic Indicators of Papua New Guinea (1980–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 4B 86M
    $ 1,380.84
    $ 1,074
    $ 3B 179M
    -2.309 %
    -5.628 %
    0 %
    0 %
    2M 960K people
    1981
    $ 4B 11M
    $ 1,319.41
    $ 1,157.83
    $ 3B 520M
    1.149 %
    -10.222 %
    0 %
    0 %
    3M 40K people
    1982
    $ 3B 805M
    $ 1,223.39
    $ 1,211.71
    $ 3B 768M
    0.832 %
    -7.865 %
    0 %
    0 %
    3M 110K people
    1983
    $ 3B 799M
    $ 1,194.66
    $ 1,273.77
    $ 4B 51M
    3.438 %
    -9.866 %
    0 %
    0 %
    3M 180K people
    1984
    $ 3B 509M
    $ 1,079.59
    $ 1,278.62
    $ 4B 155M
    -0.983 %
    -9.146 %
    0 %
    0 %
    3M 250K people
    1985
    $ 3B 250M
    $ 975.97
    $ 1,333.42
    $ 4B 440M
    3.578 %
    -4.606 %
    0 %
    0 %
    3M 330K people
    1986
    $ 3B 535M
    $ 1,039.81
    $ 1,407.59
    $ 4B 786M
    5.654 %
    -2.978 %
    0 %
    0 %
    3M 400K people
    1987
    $ 3B 885M
    $ 1,159.83
    $ 1,504.43
    $ 5B 40M
    2.762 %
    -5.523 %
    0 %
    0 %
    3M 350K people
    1988
    $ 5B 400M
    $ 1,565.17
    $ 1,556.34
    $ 5B 369M
    2.909 %
    -6.232 %
    0 %
    0 %
    3M 450K people
    1989
    $ 5B 238M
    $ 1,455.04
    $ 1,527.91
    $ 5B 500M
    -1.424 %
    -6.783 %
    0 %
    0 %
    3M 600K people
    1990
    $ 4B 757M
    $ 1,265.88
    $ 1,470.80
    $ 5B 528M
    -3.132 %
    -1.936 %
    0 %
    0 %
    3M 758K people
    1991
    $ 5B 596M
    $ 1,444.10
    $ 1,615.94
    $ 6B 261M
    9.568 %
    -2.711 %
    0 %
    0 %
    3M 875K people
    1992
    $ 6B 466M
    $ 1,546.58
    $ 1,743.60
    $ 7B 290M
    13.827 %
    -0.02 %
    0 %
    -2.378 %
    4M 181K people
    1993
    $ 7B 349M
    $ 1,713.71
    $ 1,972.11
    $ 8B 457M
    13.334 %
    7.054 %
    0 %
    -2.827 %
    4M 288K people
    1994
    $ 8B 77M
    $ 1,834.98
    $ 2,168.43
    $ 9B 544M
    10.492 %
    6.047 %
    0 %
    1.286 %
    4M 401K people
    1995
    $ 7B 149M
    $ 1,581.63
    $ 2,081.54
    $ 9B 409M
    -3.446 %
    12.826 %
    0 %
    4.035 %
    4M 520K people
    1996
    $ 7B 608M
    $ 1,639.77
    $ 2,201.19
    $ 10B 213M
    6.599 %
    2.554 %
    0 %
    4.648 %
    4M 640K people
    1997
    $ 7B 272M
    $ 1,527.44
    $ 2,043.83
    $ 9B 730M
    -6.343 %
    -6.261 %
    0 %
    3.37 %
    4M 761K people
    1998
    $ 5B 558M
    $ 1,138.37
    $ 2,109.47
    $ 10B 300M
    4.682 %
    -5.63 %
    0 %
    2.81 %
    4M 883K people
    1999
    $ 5B 72M
    $ 1,013.23
    $ 2,125.43
    $ 10B 640M
    1.856 %
    -2.26 %
    0 %
    1.155 %
    5M 6K people