Papua New Guinea - Income



The US Central Intelligence Agency (CIA) reports that in 2001 Papua New Guinea's gross domestic product (GDP) was estimated at $12.2 billion. The per capita GDP was estimated at $2,400. The annual growth rate of GDP was estimated at -2.5%. The average inflation rate in 2001 was 10.3%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 30% of GDP, industry 37%, and services 33%. Foreign aid receipts amounted to about $39 per capita and accounted for approximately 7% of the gross national income (GNI).

The World Bank reports that in 1999 per capita household consumption (in constant 1995 US dollars) was $566. Household consumption includes expenditures of individuals, households, and nongovernmental organizations on goods and services, excluding purchases of dwellings. It was estimated that for the same period private consumption grew at an annual rate of 12%. The richest 10% of the population accounted for approximately 40.5% of household consumption and the poorest 10% approximately 1.7%. It was estimated that about 37% of the population had incomes below the poverty line.

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