Papua New Guinea recorded a Current Account surplus of 26.70 percent of the country's Gross Domestic Product in 2018.

Current Account to GDP in Papua New Guinea averaged 2.83 percent from 1994 until 2018, reaching an all time high of 26.70 percent in 2018 and a record low of -36.10 percent in 2012. This page provides - Papua New Guinea Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Papua New Guinea Current Account to GDP - values, historical data and charts - was last updated on July of 2020.

Current Account to GDP in Papua New Guinea is expected to reach 25.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Papua New Guinea Current Account to GDP is projected to trend around 24.00 percent in 2021 and 23.50 percent in 2022, according to our econometric models.

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Papua New Guinea Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
26.70 22.50 26.70 -36.10 1994 - 2018 percent Yearly

Papua New Guinea Trade Last Previous Highest Lowest Unit
Balance of Trade 6676.00 7349.00 7349.00 75.00 PGK Million [+]
Current Account 2256.70 2479.20 24564.30 -2266.00 PGK Million [+]
Current Account to GDP 26.70 22.50 26.70 -36.10 percent [+]
Imports 2515.00 2115.00 3882.00 518.00 PGK Million [+]
Exports 9191.00 9464.00 10574.00 623.00 PGK Million [+]
Gold Reserves 2.00 1.96 2.00 1.96 Tonnes [+]
Crude Oil Production 48.00 49.00 115.00 3.70 BBL/D/1K [+]
Terrorism Index 1.36 2.04 2.04 0.00 [+]


Papua New Guinea Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.