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
| Stat |  Iraq |  Papua New Guinea |
|---|---|---|
| GDP | $224.2B | $23.5B |
| GDP growth, 1 year | 0.6% | 0% |
| GDP growth, 5-years average | 3.1% | 5% |
| Population | 38.3M | 8.3M |
| GDP per capita | $5.8k | $2.7k |
| GDP per capita growth | -2.84% | -2.76% |
| Purchasing Power Parity conversion factor | 395.51 | 2.06 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.33 | 0.63 |
| 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
| Stat | Iraq | Papua New Guinea |
|---|---|---|
| Income Tax Rate | 15% | 42% |
| Corporate Tax Rate | 15% | 30% |
| Inflation, consumer prices | 0.4% | 4.7% |
| Inflation, GDP deflator | 15.4% | 7.1% |
| Unemployment | 7.9% | 2.4% |
| Economic Freedom Index | 21 | 58.4 |
| Personal Freedom Index | 3.21 | 7.24 |
| Human Freedom Index | 4.28 | 6.99 |
| Property Rights Index | 43.9 | 54.9 |
| Judical Effectiveness Index | 11.2 | 48.4 |
| Business Freedom Index | 52.6 | 58.4 |
| Fiscal Health Index | 76.6 | 76.4 |
| Labor Freedom Index | 44.8 | 69.6 |
| Investment Freedom Index | N/A | 25 |
| Financial Freedom Index | N/A | 30 |
| Trade Freedom Index | N/A | 79.8 |
| Monetary Freedom Index | 76.4 | 70.7 |
| Government Spending Index | 59.5 | 86.4 |
| Tax Burden Index | N/A | 71.5 |
| Government Integrity Index | 20.8 | 29.7 |
| Corruption Perceptions Index | 18 | 28 |
| Life expectancy at birth, years | 70.3 | 64 |
| Suicide mortality rate, per 100,000 people | 3 | 6 |
| Mortality caused by road traffic injury, per 100,000 people | 20.7 | 14.2 |
| Intentional homicides, per 100,000 people | 9.9 | 7.9 |
| International tourism, number of arrivals | 892k | 140k |
Government debt & reserves
| Stat | Iraq | Papua New Guinea |
|---|---|---|
| Central government debt, % of GDP | 48.4% | 36.9% |
| External debt stocks, % of GNI | N/A | 78.4% |
| External debt stocks | N/A | $17.7B |
| Short-term debt, % of total reserves | N/A | 20.6% |
| Total debt service, % of exports and primary income | N/A | 26.1% |
| Adjusted net savings including particulate emission damage, % of GNI | -7% | 4.9% |
| Gross savings, % of GDP | 20.1% | 30.4% |
| Gross capital formation, % of GDP | 12.9% | 20% |
| Total reserves including gold | $64.7B | $2.2B |
| Foreign direct investment net inflows | -$4.9B | $335.2M |
Exports, imports and economic structure
| Stat | Iraq | Papua New Guinea |
|---|---|---|
| Exports of goods and services, % of GDP | 44% | 72.2% |
| Imports of goods and services, % of GDP | 35.9% | 58.9% |
| Current account balance (balance of payments) | $34.4B | $5.5B |
| Revenue excluding grants, % of GDP | 26.3% | 15.9% |
| Grants excluding technical cooperation, BoP | $1.7B | $268.9M |
| Personal remittances received | $741.7M | $2.9M |
| Industry including construction value added, % of GDP | 56.1% | 36.4% |
| Agriculture, forestry and fishing value added, % of GDP | 2% | 17.6% |
| Charges for the use of intellectual property, payments BoP | $7.8M | $139k |
| Charges for the use of intellectual property, receipts BoP | $100k | N/A |
| Expense, % of GDP | 25.3% | 19.1% |
| Government Expenditure, % of GDP | 36.7% | 21.3% |
