Papua New Guinea's gross Value Added (GVA) at basic prices (current US$) was US$29.42 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 33.5% from US$22.04 billion in 2014 (2.93% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$29.42 billion | 2024 |
| Five years earlier | US$23.64 billion | 2019 |
| Ten years earlier | US$22.04 billion | 2014 |
| Highest | US$30.43 billion | 2022 |
| Lowest | US$224.78 million | 1960 |
| Average since 2015 | US$24.61 billion | 2015–2024 |
| First recorded | US$224.78 million |
What the numbers say
In 2024, Papua New Guinea's gross Value Added (GVA) at basic prices (current US$) rose 0.2% on 2023 (from US$29.36 billion to US$29.42 billion).
Across the 30 yearly changes before that (1992 to 2023), the average change was +5.3% and a typical year strayed about 12.4% from that (the standard deviation). This year's change was 0.4 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 52.3% in 1973 and the biggest yearly fall was 23.1% in 1998. 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 US$1.17 billion a year. A straight line explains 86% 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.
How it compares
In 2024, Papua New Guinea had the 9th highest value of the 30 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.
| Value | Year | |
|---|---|---|
| Papua New Guinea | US$29.42 billion | 2024 |
| World | US$97.78 trillion | 2024 |
| Lower middle income | US$7.04 trillion | 2025 |
Closest to Papua New Guinea in the 2024 ranking
- Peru — 5th of 30: US$270.33 billion
- Bolivia — 6th of 30: US$51.29 billion
- Macao SAR, China — 7th of 30: US$47.85 billion
- Trinidad and Tobago — 9th of 30: US$24.25 billion
- Afghanistan — 10th of 30: US$16.71 billion
- Bahamas, The — 11th of 30: US$13.83 billion
What this measures
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Regional and income-group figures are computed by the World Bank as a gap-filled total.
All 64 values
| Year | Gross Value Added (GVA) at basic prices (current US$) |
|---|---|
| 2024 | 29,423,199,064 |
| 2023 | 29,360,225,294 |
| 2022 | 30,433,174,757 |
| 2021 | 24,971,323,044 |
| 2020 | 22,854,798,764 |
| 2019 | 23,642,712,259 |
| 2018 | 23,035,744,048 |
| 2017 | 21,721,903,777 |
| 2016 | 19,934,120,271 |
| 2015 | 20,755,195,433 |
Gross Value Added (GVA) at basic prices (current US$) in nearby economies
- Australia — US$1.68 trillion (2025)
- Brunei Darussalam — US$15.25 billion (2025)
- Cambodia — US$48.31 billion (2025)
- Fiji — US$5.26 billion (2025)
- French Polynesia — US$4.82 billion (2020)
- Hong Kong SAR, China — US$398.8 billion (2024)
- Indonesia — US$1.38 trillion (2025)
- Japan — US$4.16 trillion (2024)
- Kiribati — US$349.94 million (2024)
More economic policy & debt data for Papua New Guinea
- GDP (current US$) — 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$30.16 billion (2025)
- GNI (current LCU) — 124.34 billion (2025)
- GNI per capita (current LCU)
Reading data like this
Questions people ask
- What is Papua New Guinea's gross Value Added (GVA) at basic prices (current US$)?
- US$29.42 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1960?
- It is up 12,990% from US$224.78 million in 1960 (7.91% a year on average, compounded). The highest value was US$30.43 billion in 2022 and the lowest US$224.78 million in 1960.
- How does Papua New Guinea rank?
- 9th highest of 30 economies with data for 2024.
- Is the latest change in gross Value Added (GVA) at basic prices (current US$) unusual for Papua New Guinea?
- In 2024, Papua New Guinea's gross Value Added (GVA) at basic prices (current US$) rose 0.2% on 2023 (from US$29.36 billion to US$29.42 billion). Across the 30 yearly changes before that (1992 to 2023), the average change was +5.3% and a typical year strayed about 12.4% from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator NY.GDP.FCST.CD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; 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.
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