Papua New Guinea: Economic globalization

The latest value from 2023 is 60 points, an increase from 56.22 points in 2022. In comparison, the world average is 59.17 points, based on data from 184 countries. Historically, the average for Papua New Guinea from 1975 to 2023 is 53.11 points. The minimum value, 41.19 points, was reached in 1976 while the maximum of 61.35 points was recorded in 2010. See the global rankings for that indicator or use the country comparator to compare trends over time.

The KOF Economic Globalization Index for Papua New Guinea and other countries has two dimensions. First, it measures the economic flows between Papua New Guinea and the rest of the world in terms of international trade and international investment. The question is whether Papua New Guinea exchanges a lot of goods, services, and investments with other countries. Second, it measures the restrictions to trade and investment such as tariffs and capital controls on international investment. Each dimension is based on several variables that are combined in one overall index that ranges from 0 to 100.

Definition: Economic globalization has two dimensions: actual economic flows and restrictions to trade and capital. The sub-index on actual economic flows includes data on trade, FDI, and portfolio investment. The sub-index on restrictions takes into account hidden import barriers, mean tariff rates, taxes on international trade (as a share of current revenue), and an index of capital controls. More information and the original data can be obtained here.