Current Prices

In 2020 the PNG economy fell by K1.4 billion reaching a level of K82.5 billion a decrease of -1.6%. Current Price GDP decreased in production volumes and slight increases in price.

Key contributing industry were:

• • Agriculture, Forestry and Fishing, +8.7%, K1242 million
  • Public Administration and Defence, +11.7%, K461 million
  • Real Estate, +7.5%, K381 million

The main offset to this increase was Mining and Quarrying with a fall of -15.6%, -K3,717 million.

Constant Prices

In 2020 the PNG economy fell by -K2.1 billion, reaching a level of K63.6 billion, a decrease of -3.2%. Constant Price GDP decreases includes decreases in production volumes only.

Key contributing industries were:

• • Public Administration and Defence, +8.9%, +K275 million
  • Human Health and Social Work Activities, +9.8%, +K120 million

The main offset to this decrease was Mining with a fall of -9.2%, -K1912 million.

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