Papua New Guinea2020 Economic Complexity : -1.8, Rank 127 of 127
2020 Product Exports | Imports: $9.34B | $3.75B, 90 of 226 | 143 of 226
2020 Per Capita Product Exports | Imports: $1.04k | $419, 113 of 219 | 177 of 219
2018 Service Exports | Imports : $388M | $1.63B, 123 of 138 | 105 of 138
Overview In 2020, Papua New Guinea was the number 105 economy in the world in terms of GDP (current US$), the number 90 in total exports, the number 143 in total imports, the number 148 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 ($2.95B), Gold ($2.34B), Copper Ore ($696M), Rough Wood ($507M), and Nickel Mattes ($459M), exporting mostly to Australia ($2.39B), China ($2.09B), Japan ($1.89B), Chinese Taipei ($607M), and South Korea ($487M).
Imports The top imports of Papua New Guinea are Refined Petroleum ($323M), Excavation Machinery ($118M), Other Edible Preparations ($98.7M), Rice ($97.4M), and Crude Petroleum ($82.7M), importing mostly from Australia ($1.13B), China ($922M), Singapore ($515M), Malaysia ($246M), and Japan ($155M).
Location Papua New Guinea borders Indonesia by land and Australia, Micronesia, Solomon Islands, and New Caledonia by sea.
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.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
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.
Top Export (2020): Petroleum Gas, $2.95B
Top Destination (2020): Australia, $1.13B
In 2020, Papua New Guinea exported a total of $9.34B, making it the number 90 exporter in the world. During the last five reported years the exports of Papua New Guinea have changed by $340M from $9B in 2015 to $9.34B in 2020.
The most recent exports are led by Petroleum Gas ($2.95B), Gold ($2.34B), Copper Ore ($696M), Rough Wood ($507M), and Nickel Mattes ($459M). The most common destination for the exports of Papua New Guinea are Australia ($2.39B), China ($2.09B), Japan ($1.89B), Chinese Taipei ($607M), and South Korea ($487M).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
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).
Papua New Guinea has a high level of specialization in Nickel Mattes (133), Vanilla (76.5), Rough Wood (68.7), Precious Metal Ore (32), and Coconut Oil (26.9). Specialization is measured using RCA, an index that takes the ratio between Papua New Guinea observed and expected exports in each product.
The highest complexity exports of Papua New Guinea according to the product complexity index (PCI) are Compasses (0.35), Railway Cargo Containers (-0.027), Other Wood Articles (-0.44), Veneer Sheets (-0.5), and Silver (-0.67). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Papua New Guinea according to the relatedness index, are Aluminium Ore (0.053), Coal Briquettes (0.049), Manganese Ore (0.049), Fish oil (0.048), and Niobium, Tantalum, Vanadium and Zirconium Ore (0.048). 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 a country currently specializes in.
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.
During the last 20 years Papua New Guinea's economy has become relatively less complex, moving from the nullth 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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