Papua New Guinea vs South Korea: Economic Indicators Comparison
South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Papua New Guinea ranked 114th with $23.5B. By GDP 5-years average growth and GDP per capita, South Korea and Papua New Guinea ranked 93rd vs 32nd and 33rd vs 137th, respectively.
Gross Domestic Product & Income
| Stat |  Papua New Guinea |  South Korea |
|---|---|---|
| GDP | $23.5B | $1.6T |
| GDP growth, 1 year | 0% | 2.7% |
| GDP growth, 5-years average | 5% | 3% |
| Population | 8.3M | 51.5M |
| GDP per capita | $2.7k | $31k |
| GDP per capita growth | -2.76% | 2.33% |
| Purchasing Power Parity conversion factor | 2.06 | 860.51 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.63 | 0.78 |
| GDP per capita, PPP adjusted | $3.7k | $41k |
| GNI, Atlas method | $22.1B | $1.6T |
| GNI per capita | $2.6k | $31k |
| GNI, PPP adjusted | $36.3B | $2.1T |
| GNI per capita, PPP adjusted | $4.2k | $40k |
Financial system and Human development
| Stat | Papua New Guinea | South Korea |
|---|---|---|
| Income Tax Rate | 42% | 42% |
| Corporate Tax Rate | 30% | 25% |
| Inflation, consumer prices | 4.7% | 1.5% |
| Inflation, GDP deflator | 7.1% | 0.3% |
| Unemployment | 2.4% | 3.8% |
| Economic Freedom Index | 58.4 | 74 |
| Personal Freedom Index | 7.24 | 8.84 |
| Human Freedom Index | 6.99 | 8.15 |
| Property Rights Index | 54.9 | 82.5 |
| Judical Effectiveness Index | 48.4 | 61 |
| Business Freedom Index | 58.4 | 90.5 |
| Fiscal Health Index | 76.4 | 96.7 |
| Labor Freedom Index | 69.6 | 56.2 |
| Investment Freedom Index | 25 | 70 |
| Financial Freedom Index | 30 | 70 |
| Trade Freedom Index | 79.8 | 80 |
| Monetary Freedom Index | 70.7 | 82.1 |
| Government Spending Index | 86.4 | 67.7 |
| Tax Burden Index | 71.5 | 63.9 |
| Government Integrity Index | 29.7 | 67.5 |
| Corruption Perceptions Index | 28 | 57 |
| Life expectancy at birth, years | 64 | 82.6 |
| Suicide mortality rate, per 100,000 people | 6 | 26.9 |
| Mortality caused by road traffic injury, per 100,000 people | 14.2 | 9.8 |
| Intentional homicides, per 100,000 people | 7.9 | 0.6 |
| International tourism, number of arrivals | 140k | 15.3M |
Government debt & reserves
| Stat | Papua New Guinea | South Korea |
|---|---|---|
| Central government debt, % of GDP | 36.9% | 40.7% |
| External debt stocks, % of GNI | 78.4% | N/A |
| External debt stocks | $17.7B | N/A |
| Short-term debt, % of total reserves | 20.6% | N/A |
| Total debt service, % of exports and primary income | 26.1% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 4.9% | 20.1% |
| Gross savings, % of GDP | 30.4% | 34.7% |
| Gross capital formation, % of GDP | 20% | 30.2% |
| Total reserves including gold | $2.2B | $403.1B |
| Foreign direct investment net inflows | $335.2M | $14.5B |
Exports, imports and economic structure
| Stat | Papua New Guinea | South Korea |
|---|---|---|
| Exports of goods and services, % of GDP | 72.2% | 44% |
| Imports of goods and services, % of GDP | 58.9% | 39% |
| Current account balance (balance of payments) | $5.5B | $76.4B |
| Revenue excluding grants, % of GDP | 15.9% | 27.8% |
| Grants excluding technical cooperation, BoP | $268.9M | $6.7M |
| Personal remittances received | $2.9M | $7.1B |
| Industry including construction value added, % of GDP | 36.4% | 35.1% |
| Agriculture, forestry and fishing value added, % of GDP | 17.6% | 2% |
| Charges for the use of intellectual property, payments BoP | $139k | $9.9B |
| Charges for the use of intellectual property, receipts BoP | N/A | $7.8B |
| Expense, % of GDP | 19.1% | 25.4% |
| Government Expenditure, % of GDP | 21.3% | 32.8% |
