Gross Domestic Products 2017-2023

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Gross Domestic Product (GDP) by Production

GDP at Current Price, 2022 to 2023

The Papua New Guinea economy contracted by K800 million, representing a 0.7% decrease from 2022. This decline was mainly due to falling export prices for Mining and Agriculture commodities.

The largest decline was observed in Mining and Quarrying with a 14.7% fall or a K5,217 million decrease.

The main Offsets to the decline were:

    • Public Administration and Defence: +12.7% or a K642 million increase
    • Wholesale and Retail Trade: +5.1% or a K518 million increase
    • Administrative and Support Service Activities: +5.0% or a K405 million increase
    • Construction: +6.1% or K401 million increase

GDP at Constant Price, 2022 to 2023

In 2023, PNG’s economy grew by 3.8% from 2022. GDP in Constant Price accounts for changes in production volumes only.

Key contributing industries to the growth were:

    • Public Administration and Defence, +9.7%
    • Information and Communication, +15.5%
    • Mining and Quarrying, 1.3%
    • Wholesale and Retail Trade, +2.8%
    • Construction, +3.7%
    • GDP at Current Price: Papua New Guinea’s GDP increased by K38.1 billion (52.5%) from 2017 to 2023.
    • GDP at Constant Price: Grew by 9.3% over the past seven years, with a slight decline in 2019 and 2020 due to the COVID-19 pandemic.

Over the past seven years, the GDP per capita (constant price) decreased 8%. However, it experienced a 0.7% growth from 2022 to 2023.

Downloads

  1. PNG National Accounts (GDP) 2017 -2023 (Tables)– Update 31st Jan, 2025
  2. PNG National Accounts (GDP) 2017 -2023 (Publication) – Document pending review