Barbados vs Papua New Guinea: Economic Indicators Comparison

Papua New Guinea with a GDP of $23.5B ranked the 114th largest economy in the world, while Barbados ranked 157th with $5.1B. By GDP 5-years average growth and GDP per capita, Papua New Guinea and Barbados ranked 32nd vs 159th and 137th vs 50th, respectively.

Gross Domestic Product & Income

StatBarbadosPapua New Guinea
GDP$5.1B$23.5B
GDP growth, 1 year-0.5%0%
GDP growth, 5-years average0.7%5%
Population286k8.3M
GDP per capita$18k$2.7k
GDP per capita growth-0.64%-2.76%
Purchasing Power Parity conversion factor1.932.06
Price level ratio of PPP conversion factor GDP to market exchange rate0.970.63
GDP per capita, PPP adjusted$19k$3.7k
GNI, Atlas method$4.4B$22.1B
GNI per capita$15k$2.6k
GNI, PPP adjusted$4.7B$36.3B
GNI per capita, PPP adjusted$16k$4.2k

Financial system and Human development

StatBarbadosPapua New Guinea
Income Tax Rate40%42%
Corporate Tax Rate5.5%30%
Inflation, consumer prices3.6%4.7%
Inflation, GDP deflator3.6%7.1%
Unemployment9.6%2.4%
Economic Freedom Index61.458.4
Personal Freedom Index8.227.24
Human Freedom Index7.216.99
Property Rights Index56.654.9
Judical Effectiveness Index36.148.4
Business Freedom Index69.458.4
Fiscal Health Index63.176.4
Labor Freedom Index6069.6
Investment Freedom Index7025
Financial Freedom Index6030
Trade Freedom Index56.679.8
Monetary Freedom Index77.970.7
Government Spending Index69.286.4
Tax Burden Index73.671.5
Government Integrity Index4429.7
Corruption Perceptions Index6828
Life expectancy at birth, years7964
Suicide mortality rate, per 100,000 people0.86
Mortality caused by road traffic injury, per 100,000 people5.614.2
Intentional homicides, per 100,000 people10.57.9
International tourism, number of arrivals680k140k

Government debt & reserves

StatBarbadosPapua New Guinea
Central government debt, % of GDP124.5%36.9%
External debt stocks, % of GNIN/A78.4%
External debt stocksN/A$17.7B
Short-term debt, % of total reservesN/A20.6%
Total debt service, % of exports and primary incomeN/A26.1%
Adjusted net savings including particulate emission damage, % of GNI-6.8%4.9%
Gross savings, % of GDP-0.5%30.4%
Gross capital formation, % of GDP11.3%20%
Total reserves including gold$431.8M$2.2B
Foreign direct investment net inflows$195.1M$335.2M

Exports, imports and economic structure

StatBarbadosPapua New Guinea
Exports of goods and services, % of GDP42%72.2%
Imports of goods and services, % of GDP40.9%58.9%
Current account balance (balance of payments)-$248.2M$5.5B
Revenue excluding grants, % of GDP26.7%15.9%
Grants excluding technical cooperation, BoP$13.8M$268.9M
Personal remittances received$108.3M$2.9M
Industry including construction value added, % of GDP14%36.4%
Agriculture, forestry and fishing value added, % of GDP1.3%17.6%
Charges for the use of intellectual property, payments BoP$12.1M$139k
Charges for the use of intellectual property, receipts BoP$33.4MN/A
Expense, % of GDP35.2%19.1%
Government Expenditure, % of GDP32%21.3%

Compare with countries close by GDP per capita

Barbados vs

CountryGDP
per capita
Population
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Latvia
$18k
1.91M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
21.7k
Panama
$16k
4.1M
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M

Papua New Guinea vs

CountryGDP
per capita
Population
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
808k
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M
Palestine
$3.2k
4.68M
Vanuatu
$3.1k
276k
Philippines
$3.1k
105M
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
957k
Vietnam
$2.6k
94.7M
Egypt
$2.5k
94.8M
Laos
$2.5k
6.86M
Honduras
$2.5k
9.27M
Ghana
$2.2k
26.9M
Congo
$2.1k
5.26M
Zimbabwe
$2.1k
16.5M
Solomon Islands
$2.1k
611k
East Timor
$2k
1.3M
Syria
$2k
18.3M
Nicaragua
$2k
6.22M
Nigeria
$2k
191M
India
$2k
1.33B
Sao Tome and Principe
$2k
204k
Ivory Coast
$1.7k
24.3M