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Papua New Guinea - Gross domestic product based on purchasing-power-parity in current prices

30.86 (billion international dollars) in 2018

In 2018, GDP based on PPP for Papua New Guinea was 30.86 billion international dollars. Over the last 20 years, GDP based on PPP of Papua New Guinea grew substantially from 10.62 to 30.86 billion international dollars rising at an increasing annual rate that reached a maximum of 17.61 % in 2014 and then decreased to 2.25 % in 2018.

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What is GDP based on PPP?

GDP (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or "numeraire" currency.

What is Papua New Guinea GDP based on PPP?

Date Value Change, %
2018 30.86 2.25 %
2017 30.18 4.32 %
2016 28.93 2.82 %
2015 28.13 6.42 %
2014 26.43 17.61 %
2013 22.48 5.66 %
2012 21.27 6.65 %
2011 19.95 3.22 %
2010 19.32 11.41 %
2009 17.35 7.62 %
2008 16.12 1.64 %
2007 15.86

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