Papua New Guinea's gross Value Added (GVA) at basic prices (current LCU) was 113.36 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 108.97% from 54.25 billion in 2014 (7.65% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 113.36 billion | 2024 |
| Five years earlier | 80.09 billion | 2019 |
| Ten years earlier | 54.25 billion | 2014 |
| Highest | 113.36 billion | 2024 |
| Lowest | 200.7 million | 1960 |
| Average since 2015 | 83.77 billion | 2015–2024 |
| First recorded | 200.7 million |
What the numbers say
In 2024, Papua New Guinea's gross Value Added (GVA) at basic prices (current LCU) rose 7.6% on 2023 (from 105.39 billion to 113.36 billion).
Across the 30 yearly changes before that (1992 to 2023), the average change was +9.6% and a typical year strayed about 6% from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 28.4% in 1973 and the biggest yearly fall was 2% in 1981. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 6.22 billion a year. A straight line explains 95% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
A straight-line projection, tested first
Extending that straight line gives about 128.94 billion for 2027. We show this only because the same method, fitted on earlier years, predicted 2022 to 2024 better than "no change" would have: its average miss was 11.41 billion, against 21 billion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
How it compares
In 2024, Papua New Guinea had the 16th highest value of the 31 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Papua New Guinea in the 2024 ranking
- Tajikistan — 13th of 31: 141.26 billion
- Vanuatu — 14th of 31: 138.85 billion
- Suriname — 15th of 31: 135.81 billion
- Faroe Islands — 17th of 31: 24.64 billion
- Bahamas, The — 18th of 31: 13.83 billion
- West Bank and Gaza — 19th of 31: 13.13 billion
What this measures
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 64 values
| Year | Gross Value Added (GVA) at basic prices (current LCU) |
|---|---|
| 2024 | 113,360,230,193 |
| 2023 | 105,392,140,000 |
| 2022 | 107,101,341,600 |
| 2021 | 87,618,679,100 |
| 2020 | 79,077,009,500 |
| 2019 | 80,090,586,200 |
| 2018 | 75,867,370,700 |
| 2017 | 69,266,546,100 |
| 2016 | 62,454,176,900 |
| 2015 | 57,458,932,100 |
Gross Value Added (GVA) at basic prices (current LCU) in nearby economies
- Australia — 2.6 trillion (2025)
- Brunei Darussalam — 19.94 billion (2025)
- Cambodia — 193.88 trillion (2025)
- Fiji — 12.1 billion (2025)
- French Polynesia — 504.71 billion (2020)
- Hong Kong SAR, China — 3.11 trillion (2024)
- Indonesia — 22,808.5 trillion (2025)
- Japan — 628.94 trillion (2024)
- Kiribati — 530.28 million (2024)
More economic policy & debt data for Papua New Guinea
- GDP (current US$) — US$32.5 billion (2025)
- GDP (current LCU) — 133.98 billion (2025)
- GDP (constant 2015 US$) — US$28.68 billion (2025)
- GDP (constant LCU) — 76.24 billion (2025)
- GDP per capita (current US$) — US$3,020 (2025)
- GDP per capita (current LCU) — 12,449 (2025)
- GDP per capita (constant 2015 US$) — US$2,665 (2025)
- GDP per capita (constant LCU) — 7,084 (2025)
- GNI (current US$) — US$30.16 billion (2025)
- GNI (current LCU) — 124.34 billion (2025)
- GNI per capita (current LCU)
Reading data like this
Questions people ask
- What is Papua New Guinea's gross Value Added (GVA) at basic prices (current LCU)?
- 113.36 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1960?
Source
World Bank, World Development Indicators, indicator NY.GDP.FCST.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.
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