Flag Papua New Guinea

Econ Complexity (2018): -1.83, Rank 137 of 137

Product Exports (2018): $8.53B, Rank 94 of 222

Exports Per Capita (2018): $991, Rank 190 of 219

Product Imports (2018): $4.24B, Rank 139 of 221

Imports Per Capita (2018): $493, Rank 217 of 219

Service Exports (2018): $388M, Rank 76 of 88

Service Imports (2018): $1.63B, Rank 67 of 88

GDP (2018): $23.5B, CURRENT US$
Rank 113 of 196

GDP growth (2008 - 2018): 101%, CURRENT US$
Rank 29 of 196

GDP PC (2018): $2,730, CURRENT US$
Rank 140 of 196

GDP PC GROWTH (2008 - 2018): 63.2%, CURRENT US$
Rank 33 of 196

Overview: This page contains the latest international trade data for Papua New Guinea, including service trade data, and tariffs. In 2018 Papua New Guinea was the number 113 economy in the world in terms of GDP (current US$), the number 94 in total exports, the number 139 in total imports, and the number 137 most complex economy according to the Economic Complexity Index (ECI). In 2018, Papua New Guinea exported $8.53B and imported $4.24B, resulting in a positive trade balance of $4.29B. In 2018, Papua New Guinea's exports per capita were $991 and its imports per capita were $493.

Trade: The top exports of Papua New Guinea are Gold ($2.21B), Petroleum Gas ($1.92B), Rough Wood ($827M), Crude Petroleum ($678M), and Nickel Mattes ($517M). The top imports of Papua New Guinea are Refined Petroleum ($454M), Crude Petroleum ($253M), Excavation Machinery ($137M), Other Edible Preparations ($88.1M), and Large Construction Vehicles ($85.4M).

Destinations: Papua New Guinea exports mostly to Australia ($2.66B), China ($2.66B), Chinese Taipei ($603M), Netherlands ($345M), and South Korea ($295M), and imports mostly from Australia ($1.34B), China ($786M), Singapore ($520M), Malaysia ($453M), and Indonesia ($214M).

Location: Papua New Guinea borders Indonesia by land and Australia, Micronesia, Solomon Islands, and New Caledonia by sea.

Yearly Exports

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Top Export (2018): Gold, $2.21B

Top Destination (2018): Australia, $2.66B

In 2018 Papua New Guinea exported a total of $8.53B, making it the number 94 exporter in the world. During the last five reported years the exports of Papua New Guinea have changed by $2.01B from $6.51B in 2013 to $8.53B in 2018.

The most recent exports are led by Gold ($2.21B), Petroleum Gas ($1.92B), Rough Wood ($827M), Crude Petroleum ($678M), and Nickel Mattes ($517M). The most common destination for the exports of Papua New Guinea are Australia ($2.66B), China ($2.66B), Chinese Taipei ($603M), Netherlands ($345M), and South Korea ($295M).

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Yearly Imports

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Top Import (2018): Refined Petroleum, $454M

Top Origin (2018): Australia, $1.34B

In 2018 Papua New Guinea imported $4.24B, making it the number 139 trade destination in the world. During the last five reported years the imports of Papua New Guinea changed by -$1.33B from $5.57B in 2013 to $4.24B in 2018.

The most recent imports of Papua New Guinea are led by Refined Petroleum ($454M), Crude Petroleum ($253M), Excavation Machinery ($137M), Other Edible Preparations ($88.1M), and Large Construction Vehicles ($85.4M). The most common import partners for Papua New Guinea are Australia ($1.34B), China ($786M), Singapore ($520M), Malaysia ($453M), and Indonesia ($214M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Papua New Guinea Exports Services (2018): $388M

Papua New Guinea Imports Services (2018): $1.63B

In 2018, Papua New Guinea exported $388M worth of services. The top services exported by Papua New Guinea in 2018 were Other business services ($185M), Insurance services ($93.6M), Government services, n.i.e. ($32.8M), Construction services ($28.3M), and Financial services ($22.9M).

The top services imported by Papua New Guinea in 2018 were Other business services ($916M), Transportation ($316M), Construction services ($125M), Personal travel ($89.3M), and Insurance services ($59.1M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Papua New Guinea. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Papua New Guinea are Veneer or ply sheet, coniferous (softwood) <6 mm thic (50%) and Veneer,ply sheet, not conifer or tropical, <6 mm thic (50%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Papua New Guinea are:
136: Most Favoured Nation duty rate treatement
314: Preferential tariff for The Melanesian Spearhead Group (MSG)

Economic Complexity

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Economic Complexity Ranking

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During the last 20 years Papua New Guinea's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨97th to the 137th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Papua New Guinea has a high level of specialization in Nickel Mattes (189), Rough Wood (113), Vanilla (67.2), Precious Metal Ore (39.7), and Coconut Oil (30.2). Specialization is measured using RCA, an index that takes the ratio between Papua New Guinea observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Papua New Guinea according to the product complexity index (PCI) are Navigational instruments, direction finding compasses (0.49), Fishing vessels and factory ships (-0.42), Articles of wood, nes (-0.45), Silver, unwrought or semi-manufactured, silver powder (-0.95), and Collections and collectors pieces (-0.95). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Papua New Guinea according to the relatedness index, are Crustaceans (0.061), Cocoa Shells (0.061), Aluminium Ore (0.054), Other Ores (0.054), and Coconuts, Brazil Nuts, and Cashews (0.053). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Papua New Guinea is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.