Papua New Guinea: External debt

* indicates monthly or quarterly data series
 Papua New Guinea

External debt, percent of Gross National Income

 Latest value 62.75
 Year 2022
 Measure percent
 Data availability 1970 - 2022
 Average 61.99
 Min - Max 13.03 - 110.58
 Source The World Bank
For that indicator, we provide data for Papua New Guinea from 1970 to 2022. The average value for Papua New Guinea during that period was 61.99 percent with a minimum of 13.03 percent in 2008 and a maximum of 110.58 percent in 2013. The latest value from 2022 is 62.75 percent. For comparison, the world average in 2022 based on 113 countries is 56.76 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Papua New Guinea - External debt - Recent values chart

Historical chart
Papua New Guinea - External debt - historical chart - 1970-2022

The external debt of Papua New Guinea and other countries is reported as the total international obligations of the country as percent of its GDP. External debt of less than 60 percent of GDP is not a problem. At higher levels, paying the interest on the debt may start to become difficult.
Definition: Total external debt stocks to gross national income. Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.

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 Related indicators Latest value Reference Measure
 Terms of trade 177.43 2021 percent
 Trade openness 131.08 2004 percent
 Financial openness -0.666 2021 index points
 Exports, percent of GDP 72.16 2004 percent
 Exports, billion dollars 2.83 2004 billion U.S. dollars
 Growth of exports 2.72 2004 percent
 Imports, percent of GDP 58.92 2004 percent
 Imports, billion dollars 2.31 2004 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 1.03 2022 percent
 Foreign Direct Investment, billion dollars 0.33 2022 billion U.S. dollars
 Portfolio investment inflows, equities 0.00 2021 million dollars (current)
 Current account, percent of GDP 26.73 2022 percent
 Current account, in dollars 4.50 2021 billion U.S. dollars
 Trade balance, percent of GDP 13.25 2004 percent
 Trade balance, in dollars 5.32 2021 billion U.S. dollars
 Reserves 3.98 2022 billion U.S. dollars
 Remittances, percent of GDP 0.01 2022 percent
 Remittances 3.20 2022 million U.S. dollars
 Net errors and omissions 1,740.94 2021 million USD
 External debt 62.75 2022 percent
 Short-term external debt 16.30 2022 percent
 Short-term debt to reserves 76.52 2022 percent
 Foreign exchange reserves 3.68 9/2023 billion
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