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Economy of Papua New Guinea vs Trinidad and Tobago compared: GDP & Debt

Updated on by Georank

Papua New Guinea has a GDP of $32.5B compared to $25.9B for Trinidad and Tobago, ranking 111/197 and 122/197 by economy size, respectively.

Papua New Guinea has $16.9B in government debt (52.1% of GDP), compared to $21.8B (84.2% of GDP) in Trinidad and Tobago.

Papua New Guinea vs Trinidad and Tobago GDP by year

Papua New Guinea
Trinidad and Tobago
1x
Year GDP, current $
Papua New Guinea Trinidad
2025 $32,498,658,654 $25,942,749,718
2024 $30,803,971,189 $25,633,544,529
2023 $30,816,328,066 $25,036,993,423
2022 $31,653,230,962 $28,341,164,301
2021 $26,113,409,478 $24,222,963,263
2020 $23,848,447,850 $20,888,515,184
2019 $24,750,626,030 $23,477,745,792
2018 $24,109,780,708 $23,883,058,083
2017 $22,742,699,138 $23,830,750,901
2016 $20,758,876,953 $23,624,322,193
2015 $21,723,437,010 $26,841,141,793
2014 $23,210,823,987 $29,474,180,005
2013 $21,261,338,065 $28,560,537,057
2012 $21,295,168,666 $27,147,349,937
2011 $17,985,138,066 $25,433,007,437
2010 $14,250,786,675 $22,157,920,592
2009 $11,619,456,449 $19,172,165,226
2008 $11,670,892,801 $27,871,587,350
2007 $9,545,028,944 $21,641,620,050
2006 $8,354,911,041 $18,369,361,094
2005 $4,865,892,972 $15,982,389,018
2004 $3,927,157,867 $13,280,291,990
2003 $3,536,411,824 $11,305,459,802
2002 $2,999,511,040 $9,008,298,229
2001 $3,081,024,212 $8,824,849,191
2000 $3,521,339,699 $8,154,342,116
1999 $3,477,038,204 $6,808,982,521
1998 $3,789,443,015 $6,043,686,654
1997 $4,936,615,299 $5,737,771,523
1996 $5,155,311,077 $5,759,570,336
1995 $4,636,057,476 $5,329,217,747
1994 $5,502,786,070 $4,947,181,646
1993 $4,974,550,286 $4,669,491,134
1992 $4,377,980,510 $5,439,552,941
1991 $3,787,394,958 $5,307,905,882
1990 $3,219,729,083 $5,068,000,000
1989 $3,546,472,566 $4,323,058,824
1988 $3,656,177,881 $4,496,910,569
1987 $3,143,851,794 $4,797,777,778
1986 $2,647,995,602 $4,794,444,444
1985 $2,423,339,172 $7,375,918,367
1984 $2,552,662,617 $7,757,083,333
1983 $2,562,351,551 $7,763,750,000
1982 $2,368,719,683 $8,140,416,667
1981 $2,498,190,847 $6,992,083,333
1980 $2,545,808,456 $6,235,833,333
1979 $2,293,760,511 $4,602,416,625
1978 $1,947,878,831 $3,562,333,458
1977 $1,640,746,619 $3,138,666,667
1976 $1,511,843,235 $2,500,424,955
1975 $1,356,603,608 $2,442,669,825
1974 $1,467,417,672 $2,042,001,071
1973 $1,299,079,410 $1,308,785,431
1972 $858,761,926 $1,083,391,758
1971 $717,750,278 $896,765,215
1970 $645,568,215 $821,850,000
1969 $551,263,864 $779,200,000
1968 $485,184,190 $758,899,950
1967 $441,728,183 $761,981,912
1966 $390,992,063 $723,739,857
1965 $344,176,055 $736,573,159
1964 $305,312,049 $711,897,520
1963 $275,968,044 $678,239,329
1962 $261,184,042 $619,322,810
1961 $244,832,039 $584,964,621
1960 $230,496,037 $535,673,252

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/papua-new-guinea/trinidad-and-tobago | CC BY

GDP per capita in Papua New Guinea vs Trinidad and Tobago by year

Papua New Guinea
GDP per capita

GDP per capita, PPP
Trinidad and Tobago
GDP per capita

GDP per capita, PPP
1x
Year Current $
Papua New Guinea Trinidad
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $3,020 - $18,967 -
2024 $2,912 $4,875 $18,733 $36,329
2023 $2,966 $4,668 $18,308 $34,623
2022 $3,102 $4,420 $20,751 $32,979
2021 $2,608 $3,977 $17,713 $30,482
2020 $2,430 $3,900 $15,284 $26,731
2019 $2,576 $4,060 $17,213 $29,316
2018 $2,566 $3,910 $17,571 $28,673
2017 $2,478 $3,923 $17,566 $28,484
2016 $2,316 $3,813 $17,449 $28,232
2015 $2,485 $3,670 $19,887 $29,825
2014 $2,723 $3,500 $21,908 $32,027
2013 $2,561 $3,110 $21,305 $31,746
2012 $2,635 $3,026 $20,332 $31,883
2011 $2,288 $2,919 $19,151 $31,078
2010 $1,867 $2,912 $16,815 $30,778
2009 $1,569 $2,692 $14,634 $29,602
2008 $1,625 $2,583 $21,299 $30,807
2007 $1,371 $2,622 $16,607 $29,355
2006 $1,238 $2,444 $14,153 $27,393
2005 $744 $2,322 $12,346 $23,536
2004 $621 $2,187 $9,871 $20,674
2003 $577 $2,142 $8,445 $18,743
2002 $506 $2,125 $6,763 $16,141
2001 $538 $2,168 $6,657 $14,797
2000 $636 $2,196 $6,179 $13,953
1999 $650 $2,280 $5,179 $12,812
1998 $733 $2,285 $4,613 $11,735
1997 $990 $2,432 $4,394 $10,769
1996 $1,071 $2,578 $4,427 $9,883
1995 $998 $2,436 $4,115 $9,099
1994 $1,228 $2,558 $3,840 $8,631
1993 $1,151 $2,451 $3,647 $8,209
1992 $1,051 $2,100 $4,277 $8,129
1991 $942 $1,869 $4,205 $7,274
1990 $826 $1,703 $4,047 $6,878
1989 $934 - $3,482 -
1988 $985 - $3,656 -
1987 $865 - $3,941 -
1986 $745 - $3,985 -
1985 $697 - $6,212 -
1984 $750 - $6,613 -
1983 $769 - $6,690 -
1982 $726 - $7,091 -
1981 $781 - $6,160 -
1980 $813 - $5,559 -
1979 $748 - $4,155 -
1978 $648 - $3,258 -
1977 $558 - $2,907 -
1976 $525 - $2,345 -
1975 $482 - $2,319 -
1974 $533 - $1,962 -
1973 $483 - $1,273 -
1972 $327 - $1,067 -
1971 $279.7 - $894 -
1970 $257.6 - $829 -
1969 $225.3 - $795 -
1968 $202.9 - $783 -
1967 $189 - $797 -
1966 $171.1 - $768 -
1965 $153.9 - $793 -
1964 $139.5 - $780 -
1963 $128.9 - $756 -
1962 $124.7 - $704 -
1961 $119.7 - $678 -
1960 $115.5 - $634 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/papua-new-guinea/trinidad-and-tobago | CC BY

Papua New Guinea's GDP per capita is $3,020, ranking 147/197, compared to $18,967 in Trinidad and Tobago, ranking 65/197. Adjusted for purchasing power (GDP per capita PPP), Papua New Guinea ranks 159th at $4,875, while Trinidad and Tobago ranks 62nd at $36,329.

Economic indicators

Papua New Guinea Trinidad
Gross domestic product
$32.5B
2025
$25.9B
2025
GDP rank
111/197
2025
122/197
2025
GDP growth
5.64%
2024-2025
-0.79%
2024-2025
GDP per capita
$3,020
2025
$18,967
2025
GDP per capita rank
147/197
2025
65/197
2025
GDP per capita, PPP
$4,875
2024
$36,329
2024
GDP per capita PPP rank
159/197
2024
62/197
2024
Government debt
$16.9B
2025
$21.8B
2025
Debt-to-GDP ratio
52.1%
2025
84.2%
2025
Government debt per person
$1,575
2025
$15,965
2025
Government debt per person rank
129/185
2025
43/185
2025
Average annual personal income after taxes
$2,615
2026
$10,176
2026
Market capitalization of domestic companies
$1.68B
2017
$3.89B
2001
Income share by richest 10%
31%
2009
29.9%
1992
Income share by poorest 10%
1.9%
2009
2.1%
1992
Government expenditure, % of GDP
19.7%
2025
32.4%
2025
Consumer prices inflation
4.42%
2024-2025
0.99%
2024-2025
Central bank interest rate
5%
2025
3.5%
2020
Unemployment rate
2.69%
2022
4.01%
2024
Population
11045681
1370916

Spending and national debt comparison by year

Papua New Guinea
Spending

Debt
Trinidad and Tobago
Spending

Debt
1x
Year % of GDP
Papua New Guinea Trinidad
Government spending Government debt Government spending Government debt
2025 19.7% 52.1% 32.4% 84.2%
2024 20.9% 53.3% 32.2% 81.8%
2023 22.3% 53.9% 32.4% 78.2%
2022 21.9% 48.2% 28.3% 69.9%
2021 22% 52.6% 31.4% 80.2%
2020 23.5% 48.7% 35.1% 81.6%
2019 21.3% 38.2% 31% 62.9%
2018 20.3% 36.7% 30.2% 58.1%
2017 18.4% 32.5% 30.9% 57.2%
2016 20.9% 33.7% 31.2% 53.3%
2015 22.8% 29.9% 34.1% 43.2%
2014 27.1% 26.9% 33% 37.1%
2013 27.6% 24.9% 31.7% 32.9%
2012 22.4% 19.1% 29.9% 32.9%
2011 19.7% 16.3% 30.4% 39.2%
2010 18.4% 17.3% 31.5% 28.9%
2009 24.7% 21.7% 33.4% 34.2%
2008 19.8% 21.6% 28.2% 24.6%
2007 18% 22.2% 26.8% 29.4%
2006 19.4% 26% 34.6% 32.7%
2005 20.6% 31.6% 29.5% 36.6%
2004 19.4% 37.2% 23.3% 43.3%
2003 18.7% 40.4% 23.5% 52.4%
2002 20.8% 48.4% 24.6% 58.2%
2001 21.6% 47.7% 25.2% 54.2%
2000 20.5% 42.3% 24.1% 52.3%
1999 21.4% 41.8% 24.8% 55.2%
1998 20% 45.7% 27.3% 47.4%
1997 20.6% 43.9% 27.4% 51.3%
1996 17.6% 37.8% 28.2% 51.9%
1995 17.1% 36.6% 26.7% 57.3%
1994 19.3% 40.1% 26.5% 64.8%
1993 23.5% 30% 27.3% 59.6%
1992 22.8% 30.4% 28.8% 49.5%
1991 22.4% - 30% 50%
1990 24.5% - 27.9% 49.5%
1989 - - 30.9% 51.9%
1988 - - 45.3% 65.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1993, retrieved 2026-07-08).

GeoRank.org/economy/papua-new-guinea/trinidad-and-tobago | CC BY

In 2025, Papua New Guinea's government spending was $6.4B, accounting for 19.7% of its GDP, while Trinidad and Tobago spent $8.39B, or 32.4% of GDP.

Debt-to-GDP ratio is 52.1% in Papua New Guinea and 84.2% in Trinidad and Tobago, ranking 99/185 and 37/185, respectively.

Government deficit by year

Deficit/surplus
Papua New Guinea

Trinidad and Tobago
1x
Year Deficit/surplus, % of GDP
Papua New Guinea Trinidad
2025 -2.36% -5.46%
2024 -3.31% -5.92%
2023 -4.34% -1.2%
2022 -5.25% 0.96%
2021 -6.84% -8.39%
2020 -8.85% -11.8%
2019 -4.98% -3.72%
2018 -2.58% -5.89%
2017 -2.47% -10.5%
2016 -4.75% -9.84%
2015 -4.55% -7.37%
2014 -6.27% -4.34%
2013 -6.87% -2.7%
2012 -1.19% -1.28%
2011 2.22% -0.69%
2010 3.06% 0.14%
2009 -5.48% -4.88%
2008 2.73% 5.7%
2007 6.9% 3.24%
2006 5.34% -0.3%
2005 2.85% 0.84%
2004 2.03% 1.91%
2003 0.19% 1.9%
2002 -1.75% -0.2%
2001 -1.33% 0.62%
2000 0.3% 0.18%
1999 -1.94% -0.9%
1998 -0.16% -1.83%
1997 0.67% 0.11%
1996 2.05% -0.46%
1995 1.08% 0.17%
1994 -1.01% -0.02%
1993 -4.9% 0.24%
1992 -4.33% -2.76%
1991 -0.62% -0.21%
1990 -2.04% -1.32%
1989 - -4.46%
1988 - -9.34%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-07-08).

GeoRank.org/economy/papua-new-guinea/trinidad-and-tobago | CC BY

In 2025, Papua New Guinea's government deficit, the difference between spending and revenue, was $766M, equivalent to 2.36% of GDP. This compares to Trinidad and Tobago's deficit of $1.42B, or 5.46% of GDP.

Over the past 36 years, Papua New Guinea recorded a fiscal deficit in 24 of those years, while Trinidad and Tobago ran a deficit in 24 years. On average, Papua New Guinea posted an annual deficit equal to 1.63% of GDP, compared to deficit of 2.11% of GDP for Trinidad and Tobago.

Inflation comparison by year

Inflation
Papua New Guinea

Trinidad and Tobago
1x
Year Consumer prices inflation
Papua New Guinea Trinidad
2025 4.42% 0.99%
2024 0.6% 0.53%
2023 2.3% 4.63%
2022 5.25% 5.83%
2021 4.48% 2.06%
2020 4.87% 0.6%
2019 3.93% 1%
2018 4.37% 1.02%
2017 5.42% 1.88%
2016 6.67% 3.07%
2015 6% 4.66%
2014 5.22% 5.68%
2013 4.96% 5.2%
2012 4.54% 9.26%
2011 4.44% 5.11%
2010 6.01% 10.5%
2009 6.92% 6.98%
2008 10.8% 12%
2007 0.91% 7.89%
2006 2.37% 8.33%
2005 1.78% 6.87%
2004 2.16% 3.72%
2003 14.7% 3.81%
2002 11.8% 4.15%
2001 9.3% 5.54%
2000 15.6% 3.56%
1999 14.9% 3.44%
1998 13.6% 5.61%
1997 3.96% 3.63%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/papua-new-guinea/trinidad-and-tobago | CC BY

Over the past 29 years, Papua New Guinea has recorded an average annual inflation rate of 6.29%, compared with 4.75% in Trinidad and Tobago. In 2025, inflation was 4.42% in Papua New Guinea and 0.99% in Trinidad and Tobago.

Balance of trade

Papua New Guinea Trinidad
Current account balance
$4.77B
2024
$1.25B
2025
Current account balance ranking
32/190
2024
48/190
2025
Current account balance, % of GDP
+15.5%
2024
+4.81%
2025
Goods imports
$4.69B
2024
$6.83B
2025
Goods exports
$13.4B
2024
$10.2B
2025
Service imports
$2.4B
2024
$2.8B
2025
Service exports
$75.2M
2024
$1.27B
2025
Imports of goods and services, % of GDP
58.9%
2004
n/a
Exports of goods and services, % of GDP
72.2%
2004
45%
2026

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Papua New Guinea Trinidad
Economic freedom 54.3 62.4
Economic freedom ranking 134/197 87/197
Property rights 45 47.3
Government integrity 30.8 45.5
Judicial effectiveness 41.1 58.8
Tax burden 70.9 76.1
Government spending 86.1 71.1
Fiscal health 65.3 86.3
Business freedom 34.2 67.1
Labor freedom 65.1 57.2
Monetary freedom 77.4 81
Trade freedom 80.2 68.8
Investment freedom 25 50
Financial freedom 30 40

Economic freedom comparison by year

Papua New Guinea
Trinidad and Tobago
1x
Year Economic freedom index
Papua New Guinea Trinidad
2026 54.3 62.4
2025 52.5 63.6
2024 49.4 60.4
2023 51.7 59.5
2022 54.6 58.8
2021 58.9 59
2020 58.4 58.3
2019 58.4 57
2018 55.7 57.7
2017 50.9 61.2
2016 53.2 62.9
2015 53.1 64.1
2014 53.9 62.7
2013 53.6 62.3
2012 53.8 64.4
2011 52.6 66.5
2010 53.5 65.7
2009 54.8 68
2008 - 69.5
2007 - 70.6
2006 - 70.4
2005 - 71.5
2004 - 71.3
2003 - 68.8
2002 - 70.1
2001 57.2 71.8
2000 55.8 74.5
1999 56.3 72.4
1998 55.2 72
1997 56.7 71.3
1996 58.6 69.2

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

GeoRank.org/economy/papua-new-guinea/trinidad-and-tobago | CC BY

The Economic Freedom Index for Papua New Guinea is 54.3, ranking 134/197, compared to 62.4 for Trinidad and Tobago, ranking 87/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Papua New Guinea Trinidad
Services, % of GDP
42%
2024
59.2%
2024
Industry, % of GDP
36.5%
2024
34.6%
2024
Agriculture, forestry, and fishing, % of GDP
17%
2024
0.78%
2024
GNI, Atlas method
$31.2B
2025
$25.4B
2025
GNI per capita, PPP
$4,840
2025
$36,080
2025
Total reserves including gold
$3.71B
2024
$5.6B
2024
Total reserves ranking
114/177
2024
99/177
2024
Net foreign direct investment
$968M
2024
$404M
2025
Net inflows of foreign direct investment
-$198M
2024
-$453M
2024
Net outflows of foreign direct investment
$770M
2024
$527M
2024
Servicing debt to the IMF, % of GNI
20.4%
2024
n/a
Poverty at national poverty lines
39.9%
2009
20%
2020
Gross capital formation, % of GDP
20%
2004
19%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/papua-new-guinea/trinidad-and-tobago | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1988–1993, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.