Oceania > Papua New Guinea > Economy

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Agriculture > products coffee, cocoa, coconuts, palm kernels, tea, rubber, sweet potatoes, fruit, vegetables, poultry, pork
Aid as % of GDP	7.2%		[40th of 129]
Definition: Economy > Aid as % of GDP
Source: CIA World Factbook, 28 July 2005
Debt > External	$1,646,000,000.00		[117th of 136]
Definition: Economy > Debt > External
Source: calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
Distribution of family income > Gini index	50.9		[2nd of 43]
Definition: Economy > Distribution of family income > Gini index
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Economic freedom	1.45		[128th of 156]
Definition: Economy > Economic freedom
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Economy > Overview Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by rugged terrain and the high cost of developing infrastructure. Agriculture provides a subsistence livelihood for 85% of the population. Mineral deposits, including copper, gold, and oil, account for nearly two-thirds of export earnings. The government of Prime Minister SOMARE has expended much of its energy remaining in power. He was the first prime minister ever to serve a full five-year term. The government also brought stability to the national budget, largely through expenditure control; however, it relaxed spending constraints in 2006 and 2007 as elections approached. Numerous challenges still face the government including regaining investor confidence, restoring integrity to state institutions, promoting economic efficiency by privatizing moribund state institutions, and balancing relations with Australia, its former colonial ruler. Other socio-cultural challenges could upend the economy including a worsening HIV/AIDS epidemic and chronic law and order and land tenure issues. Australia will supply more than $300 million in aid in FY07/08, which accounts for nearly 20% of the national budget.
Definition: Economy > Economy > Overview
Source: The Heritage Foundation
Exports	$4,686,000,000.00		[101st of 189]
Definition: Economy > Exports
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GDP	$5,653,885,000.00		[119th of 203]
Definition: Economy > GDP
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GDP > PPP	$14,425,000,000.00		[113rd of 163]
Definition: Economy > GDP > PPP
Source: World Development Indicators database and CIA World Factbook
GDP > Real growth rate	6%		[79th of 198]
Definition: Economy > GDP > Real growth rate
Source: World Bank. 2005. World Development Indicators 2005.
GDP growth > annual %	3.3 annual %		[115th of 187]
Definition: Economy > GDP growth > annual %
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GINI index	50.9		[9th of 40]
Definition: Economy > GINI index
Source: World Development Indicators database
Gross National Income	$3,026,100,000.00		[120th of 172]
Definition: Economy > Gross National Income
Source: World Development Indicators database
Human Development Index	0.523		[138th of 178]
Definition: Economy > Human Development Index
Income category	Low income
Definition: Economy > Income category
Source: Human Development Report 2006, United Nations Development Programme
Income distribution > Poorest 10%	1.7%		[88th of 114]
Definition: Economy > Income distribution > Poorest 10%
Source:
Income distribution > Richest 10%	40.5%		[18th of 114]
Definition: Economy > Income distribution > Richest 10%
Source: World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
Population below poverty line	37%		[17th of 46]
Definition: Economy > Population below poverty line
Source: World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
Public debt	40.1 % of GDP		[54th of 121]
Definition: Economy > Public debt
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Tourist arrivals	66,000		[126th of 152]
Definition: Economy > Tourist arrivals
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008

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