As per International Monetary Fund (IMF) Papua New Guinea’s nominal gross domestic product is expected to grow at a CAGR of 8.87% from it’s 2015 level of PGK 59.039 billion and reach PGK 107.061 billion by 2022.
Papua New Guinea (PNG) lies on the eastern half of the island of New Guinea, located between the Coral Sea and the South Pacific Ocean among the islands of Oceania. In 1885, it was divided between Papua New Guinea (north) and the United Kingdom (south). The area controlled by the United Kingdom was transferred to Australia in 1902, which occupied the northern portion during World War I and continued to administer the combined areas until Papua New Guinea gained its independence in 1975. Papua New Guinea’s capital city is Port Moresby, and its official languages are English, Tok Pisin, and Hiri Motu. The currency in Papua New Guinea is the Papua New Guinea kina (PGK).
Papua New Guinea (PNG) had estimated population of 7.911 million in the year 2016 and expected to reach 9.445 million by 2022, it is expected to grow at a CAGR of 2.93%.
Papua New Guinea’s real gross domestic product (GDP) was expected to be around PGK 24.285 billions in 2016 whereas the nominal GDP was expected to be PGK 61.991 billions. This resulted in GDP deflator 255.27. Per capita GDP was estimated at USD 2528.44 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 3540.98.
In 2016, Papua New Guinea (PNG) government’s revenue was estimated to be around PGK 10.764 billions whereas the expenditure was estimated to be around PGK 13.504 billions. This resulted Papua New Guinea government’s net lending / borrowing negative at PGK 2.74 billion in 2016 indicating that enough financial resources were not made available by the government to boost economic growth.
The current account balance for Papua New Guinea was estimated to be at USD 3.051 billions for the year 2016 and is expected to decline at a CAGR of 4.13% and reach USD 3.088 by 2022. This positive current account balance indicates the Papua New Guinea (PNG) is net lender to the whole world.
Scope of the Papua New Guinea PESTEL Analysis, SWOT Analysis and Risk Analysis Market Research Reports
- These reports provide information about key macroeconomic indicators for Papua New Guinea.
- These reports provide PESTELE (political, economic, social, technological, environmental and legal) analysis for Papua New Guinea.
- These reports provide SWOT (strengths, weaknesses, opportunities and threats) analysis for Papua New Guinea.
- These reports provide risk analysis for Papua New Guinea.
For more information and to purchase Papua New Guinea PESTEL Analysis Market Research Report please visit: https://www.marketresearchreports.com/market-research-reports-inc/papua-new-guinea-pestel-analysis-market-research-report
For more information and to purchase Papua New Guinea SWOT Analysis Market Research Report please visit: https://www.marketresearchreports.com/market-research-reports-inc/papua-new-guinea-swot-analysis-market-research-report
For more information and to purchase Papua New Guinea Risk Analysis Market Research Report please visit: https://www.marketresearchreports.com/market-research-reports-inc/papua-new-guinea-risk-analysis-market-research-report
About Market Research Reports, Inc.
Market Research Reports® Inc. is world’s largest store offering quality market research, SWOT analysis, competitive intelligence and industry reports. We help Fortune 500 to Start-Ups with the latest market research reports on global ®ional markets which comprise key industries, leading market players, new products and latest industry analysis & trends.