Papua New Guinea Real GDP
Papua New Guinea's real GDP rose to $27.2 billion in 2024, up from $26.13 billion in 2023, according to World Bank. This represents an increase of 4.1% ($1.07 billion) from the previous year and accounts for 0.03% of the world's total real GDP. Papua New Guinea has real GDP lower than the global median ($27.20 billion vs median $29.34 billion). Compared with the median in Oceania, Papua New Guinea is higher ($27.20 billion vs regional median $890.01 million) and ranks 3rd out of 18 countries in Oceania.
Papua New Guinea's GDP per capita rose to $2,572.03 in 2024, up from $2,515.29 in 2023.
Yearly Historical Data (1960-2024)
(in Billion USD)Papua New Guinea Real GDP : Definition
Real GDP is defined as the value of all goods and services produced in Papua New Guinea, measured in US dollars adjusted to 2015 prices. By fixing prices to a base year, it removes the effect of inflation, so this represents real GDP rather than nominal GDP.