Iraq vs Papua New Guinea: Economic Indicators Comparison

Iraq with a GDP of $224.2B ranked the 50th largest economy in the world, while Papua New Guinea ranked 114th with $23.5B. By GDP 5-years average growth and GDP per capita, Iraq and Papua New Guinea ranked 85th vs 32nd and 103rd vs 137th, respectively.

Gross Domestic Product & Income

StatIraqPapua New Guinea
GDP$224.2B$23.5B
GDP growth, 1 year0.6%0%
GDP growth, 5-years average3.1%5%
Population38.3M8.3M
GDP per capita$5.8k$2.7k
GDP per capita growth-2.84%-2.76%
Purchasing Power Parity conversion factor395.512.06
Price level ratio of PPP conversion factor GDP to market exchange rate0.330.63
GDP per capita, PPP adjusted$18k$3.7k
GNI, Atlas method$193.6B$22.1B
GNI per capita$5k$2.6k
GNI, PPP adjusted$661.5B$36.3B
GNI per capita, PPP adjusted$17k$4.2k

Financial system and Human development

StatIraqPapua New Guinea
Income Tax Rate15%42%
Corporate Tax Rate15%30%
Inflation, consumer prices0.4%4.7%
Inflation, GDP deflator15.4%7.1%
Unemployment7.9%2.4%
Economic Freedom Index2158.4
Personal Freedom Index3.217.24
Human Freedom Index4.286.99
Property Rights Index43.954.9
Judical Effectiveness Index11.248.4
Business Freedom Index52.658.4
Fiscal Health Index76.676.4
Labor Freedom Index44.869.6
Investment Freedom IndexN/A25
Financial Freedom IndexN/A30
Trade Freedom IndexN/A79.8
Monetary Freedom Index76.470.7
Government Spending Index59.586.4
Tax Burden IndexN/A71.5
Government Integrity Index20.829.7
Corruption Perceptions Index1828
Life expectancy at birth, years70.364
Suicide mortality rate, per 100,000 people36
Mortality caused by road traffic injury, per 100,000 people20.714.2
Intentional homicides, per 100,000 people9.97.9
International tourism, number of arrivals892k140k

Government debt & reserves

StatIraqPapua New Guinea
Central government debt, % of GDP48.4%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-7%4.9%
Gross savings, % of GDP20.1%30.4%
Gross capital formation, % of GDP12.9%20%
Total reserves including gold$64.7B$2.2B
Foreign direct investment net inflows-$4.9B$335.2M

Exports, imports and economic structure

StatIraqPapua New Guinea
Exports of goods and services, % of GDP44%72.2%
Imports of goods and services, % of GDP35.9%58.9%
Current account balance (balance of payments)$34.4B$5.5B
Revenue excluding grants, % of GDP26.3%15.9%
Grants excluding technical cooperation, BoP$1.7B$268.9M
Personal remittances received$741.7M$2.9M
Industry including construction value added, % of GDP56.1%36.4%
Agriculture, forestry and fishing value added, % of GDP2%17.6%
Charges for the use of intellectual property, payments BoP$7.8M$139k
Charges for the use of intellectual property, receipts BoP$100kN/A
Expense, % of GDP25.3%19.1%
Government Expenditure, % of GDP36.7%21.3%

Compare with countries close by GDP per capita

Iraq vs

CountryGDP
per capita
Population
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M

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