Gross Domestic Product Per Capita for Papua New Guinea
PCAGDPPGA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,076.49
Year-over-Year Change
16.75%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) per capita for Papua New Guinea measures the total economic output divided by the country's population. This metric is a key indicator of a nation's standard of living and economic development.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP per capita is a fundamental economic statistic that economists and policymakers use to assess a country's economic performance and growth. It provides insights into the average income and productivity levels within a population.
Methodology
The data is calculated by the World Bank using national accounts and population data.
Historical Context
GDP per capita is widely used to benchmark economic progress and guide policy decisions.
Key Facts
- Papua New Guinea's GDP per capita was $2,700 in 2021.
- GDP per capita has grown by 18% in Papua New Guinea over the past decade.
- The country ranks 134th globally in GDP per capita.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per capita for Papua New Guinea measures the country's total economic output divided by its population, providing an indicator of average income and living standards.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a fundamental metric used by economists, policymakers, and analysts to assess a country's economic performance, productivity, and development over time and in comparison to other nations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts data and population figures.
Q: How is this trend used in economic policy?
A: GDP per capita is widely used to benchmark economic progress, set policy goals, and guide decision-making on issues such as infrastructure investment, social programs, and economic reforms.
Q: Are there update delays or limitations?
A: The GDP per capita data for Papua New Guinea is published annually by the World Bank with a lag of approximately one year.
Related Trends
Value of Exports to Papua New Guinea from New York
NYPNGA052SCEN
Population ages 65 and above for Papua New Guinea
SPPOP65UPTOZSPNG
Bank's Return on Assets for Papua New Guinea
DDEI05PGA156NWDB
Number of Identified Exporters to Papua New Guinea from New York
NYPNGA475SCEN
Geographical Outreach: Key Indicators, Credit Union and Financial Cooperative Branches Per 1000 Km2 for Papua New Guinea
PNGFCBODUKNUM
Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Papua New Guinea
PNGFCNODCANUM
Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Papua New Guinea (PCAGDPPGA646NWDB), retrieved from FRED.