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2023
Economic Complexity
Trade -1.63Rank 127 of 132
2022
Economic Complexity
Research -0.98Rank 124 of 140
2023
Product
Exports | Imports $12.5B | $5.3B93 of 226 |  144 of 226
2023
Per Capita Product
Exports | Imports $1.21k | $510115 of 220 |  181 of 220

About

Overview In 2023, Papua New Guinea was the number 110 economy in the world in terms of GDP (current US$), the number 93 in total exports, the number 144 in total imports, the number 142 economy in terms of GDP per capita (current US$) and the number 127 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Papua New Guinea are Petroleum Gas ($5.59B), Gold ($1.85B), Copper Ore ($904M), Palm Oil ($843M), and Nickel Mattes ($578M), exporting mostly to China ($3.55B), Japan ($3.19B), Australia ($2.07B), Chinese Taipei ($999M), and India ($483M).

Imports The top imports of Papua New Guinea are Refined Petroleum ($865M), Rice ($159M), Delivery Trucks ($154M), Excavation Machinery ($124M), and Motor vehicles; parts and accessories (8701 to 8705) ($113M), importing mostly from Australia ($1.44B), China ($1.29B), Singapore ($787M), Malaysia ($493M), and Japan ($215M).

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

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Papua New Guinea.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Petroleum Gas$5.59B
Top Destination (2023)China$3.55B

In 2023, Papua New Guinea exported a total of $12.5B, making it the number 93 exporter in the world. During the last five reported years the exports of Papua New Guinea have changed by $1.36B from $11.2B in 2018 to $12.5B in 2023.

The most recent exports are led by Petroleum Gas ($5.59B), Gold ($1.85B), Copper Ore ($904M), Palm Oil ($843M), and Nickel Mattes ($578M). The most common destination for the exports of Papua New Guinea are China ($3.55B), Japan ($3.19B), Australia ($2.07B), Chinese Taipei ($999M), and India ($483M).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
Australia$330M (+ 19%)
Philippines$109M (+ 75.4%)
Germany$23.4M (+ 9.74%)
Fastest Growing Import Markets (2022 - 2023)
Australia$164M (+ 12.9%)
Chinese Taipei$55.2M (+ 49.2%)
Japan$19.2M (+ 9.79%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Overview

Economic Complexity (Trade)-1.63Rank 127 of 132
Economic Complexity (Research)-0.98Rank 124 of 140

Most Specialized Products by RCA Index

Papua New Guinea has a high level of specialization in Rough Wood (71.3), Nickel Mattes (66.3), Coconut Oil (33.8), Palm Oil (31.6), and Vanilla (30.7). 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

The highest complexity exports of Papua New Guinea according to the product complexity index (PCI) are Navigational instruments and appliances; direction finding compasses (1.22), Wooden articles n.e.c. in heading no. 4414 to 4420 (-0.43), Aluminium; powders and flakes (-0.48), Leather further prepared after tanning or crusting, including parchment-dressed leather, of bovine... (-0.54), and Silver (including silver plated with gold or platinum); unwrought or in semi-manufactured... (-0.82). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Papua New Guinea according to the relatedness index, were Crude Petroleum (0.05), Nickel Ore (0.047), Aluminium Ore (0.046), Other Edible Animal Products (0.045), and Tin Ores (0.044). 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.

Product Space

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 a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Papua New Guinea. These are products that tend to be co-exported with the products that Papua New Guinea exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Papua New Guinea's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨98th to the 127th⁩ 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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ECI (Trade) Ranking by Country

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