Papua New Guinea

Papua New Guinea - February 2022

Papua New Guinea’s (PNG) per capita income lags most of its Pacific Island peers. Growth and creditworthiness are broadly in line with Pacific Islands peers, while indicators of the business climate are slightly stronger than other Pacific Islands. PNG’s natural resources wealth and continued support from bilateral and multilateral development partners remains important for economic prospects, business conditions and creditworthiness.

The above chart is a cobweb diagram showing how a country measures up on four important dimensions of economic performance—per capita income, annual GDP growth, business climate rank and creditworthiness. Per capita income is in current US dollars. Annual GDP growth is the five-year average forecast between 2022 and 2026. Business climate is measured by the World Bank’s latest Ease of Doing Business ranking of 190 countries. Creditworthiness attempts to measure a country's ability to honour its external debt obligations and is measured by its OECD country credit risk rating. The chart shows not only how a country performs on the four dimensions, but how it measures up against other countries in the region.