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Country Report Papua New Guinea 3rd Quarter

  • ID: 5360351
  • Country Profile
  • July 2021
  • Region: Equatorial Guinea, Guinea, Papua New Guinea
  • The Economist Intelligence Unit
Although Papua New Guinea (PNG) is a resource-rich economy, its external sector accounts for only about 20% of its GDP. Its main growth-drivers are private and government consumption, which account for more than half of the country's GDP.

Politics in PNG will remain volatile until the next general election, which is expected in June 2022. The prime minister, James Marape, is likely to face no-confidence votes before then, but we expect him to garner sufficient support to thwart such attempts.

Mr Marape will focus on diversifying the economy away from its reliance on the energy sector to agriculture. The development of that sector in 2021-25 will help to reduce dependence on agricultural imports and increase domestic employment.
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Country Report Papua New Guinea 3rd Quarter

Briefing sheet
Political and economic outlook
Key changes since March 18th
The quarter ahead
Major risks to our forecast

Outlook for 2021-25: Political stability

Outlook for 2021-25: Election watch

Outlook for 2021-25: International relations

Outlook for 2021-25: Policy trends

Outlook for 2021-25: Fiscal policy

Outlook for 2021-25: Monetary policy

Outlook for 2021-25: International assumptions

Outlook for 2021-25: Economic growth

Outlook for 2021-25: Inflation

Outlook for 2021-25: Exchange rates

Outlook for 2021-25: External sector

Outlook for 2021-25: Forecast summary

Data and charts: Annual data and forecast

Data and charts: Quarterly data

Data and charts: Monthly data

Data and charts: Annual trends charts

Data and charts: Monthly trends charts

Data and charts: Comparative economic indicators

Basic data
Land area
Population
Major islands
Climate
Weather in Port Moresby (sea level)
Languages
Measures
Currency
Time
Public holidays

Political structure
Official name
Form of state
Head of state
The executive
National legislature
Provincial government
Legal system
National elections
National government
Main political organisations
Main members of the National Executive Council
Key ministers
Central bank governor
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