Papua New Guinea’s economy expanded in 2024, with real GDP up +3.9%. The increase reflects stronger production across key sectors, driven by the mining and agriculture sectors.
The National Statistical Office (NSO) reports:
Constant Price GDP (Real GDP) grew from K69.5 billion to K72.2 billion, an increase of +3.9%. Constant Price GDP is economic activity with the impact of changing prices removed. Constant Price GDP measures the quantity of goods and services produced by the PNG economy.
Current Price GDP (Nominal GDP) grew from K110.6 billion to K118.7 billion, an increase of 7.3%. Current price GDP includes changes in both production quantities and the prices. The main drives for this increase were Other Mining (+33.3%) and Crop production (+7.7%). The increase in Other Mining was due to strong production and strong price increases in both Gold and Copper. The increase in Crop production was mainly driven by strong increases in the export prices of Cocoa.
Current Price GDP per Capita increased from K11,148 in 2023 to K11,652 in 2024, a +4.5 % increase. Current Price GDP per Capita represents the per-person Kina value of PNG economic activity; it is often used to compare economic well-being between countries.
NSO provides this vital data to support important decisions made by government, businesses, and the public.
See data here – https://www.nso.gov.pg/statistics/economy/gross-domestic-products/gross-domestic-products-2019-2024/
