Papua New Guinea vs Venezuela: Economic Indicators Comparison
Venezuela with a GDP of $482.4B ranked the 27th largest economy in the world, while Papua New Guinea ranked 114th with $23.5B. By GDP 5-years average growth and GDP per capita, Venezuela and Papua New Guinea ranked 181st vs 32nd and 58th vs 137th, respectively.
Gross Domestic Product & Income
| Stat |  Papua New Guinea |  Venezuela |
|---|---|---|
| GDP | $23.5B | $482.4B |
| GDP growth, 1 year | 0% | -18% |
| GDP growth, 5-years average | 5% | -12.2% |
| Population | 8.3M | 28.5M |
| GDP per capita | $2.7k | $16k |
| GDP per capita growth | -2.76% | -18.17% |
| Purchasing Power Parity conversion factor | 2.06 | 5.57 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.63 | 0.89 |
| GDP per capita, PPP adjusted | $3.7k | $8.8k |
| GNI, Atlas method | $22.1B | $392.9B |
| GNI per capita | $2.6k | $13k |
| GNI, PPP adjusted | $36.3B | $352.8B |
| GNI per capita, PPP adjusted | $4.2k | $12k |
Financial system and Human development
| Stat | Papua New Guinea | Venezuela |
|---|---|---|
| Income Tax Rate | 42% | 34% |
| Corporate Tax Rate | 30% | 34% |
| Inflation, consumer prices | 4.7% | 929789.5% |
| Inflation, GDP deflator | 7.1% | 748.1% |
| Unemployment | 2.4% | 8.4% |
| Economic Freedom Index | 58.4 | 25.2 |
| Personal Freedom Index | 7.24 | 6.33 |
| Human Freedom Index | 6.99 | 5.27 |
| Property Rights Index | 54.9 | 10.1 |
| Judical Effectiveness Index | 48.4 | 12.6 |
| Business Freedom Index | 58.4 | 30.8 |
| Fiscal Health Index | 76.4 | 0 |
| Labor Freedom Index | 69.6 | 27.7 |
| Investment Freedom Index | 25 | 0 |
| Financial Freedom Index | 30 | 10 |
| Trade Freedom Index | 79.8 | 58 |
| Monetary Freedom Index | 70.7 | 0 |
| Government Spending Index | 86.4 | 66.3 |
| Tax Burden Index | 71.5 | 72.8 |
| Government Integrity Index | 29.7 | 14.6 |
| Corruption Perceptions Index | 28 | 18 |
| Life expectancy at birth, years | 64 | 72.2 |
| Suicide mortality rate, per 100,000 people | 6 | 3.7 |
| Mortality caused by road traffic injury, per 100,000 people | 14.2 | 33.7 |
| Intentional homicides, per 100,000 people | 7.9 | 56.3 |
| International tourism, number of arrivals | 140k | 427k |
Government debt & reserves
| Stat | Papua New Guinea | Venezuela |
|---|---|---|
| Central government debt, % of GDP | 36.9% | 175.6% |
| External debt stocks, % of GNI | 78.4% | 33.9% |
| External debt stocks | $17.7B | $154.9B |
| Short-term debt, % of total reserves | 20.6% | 421.1% |
| Total debt service, % of exports and primary income | 26.1% | 69% |
| Adjusted net savings including particulate emission damage, % of GNI | 4.9% | 7.2% |
| Gross savings, % of GDP | 30.4% | 8.9% |
| Gross capital formation, % of GDP | 20% | -3.7% |
| Total reserves including gold | $2.2B | $9.8B |
| Foreign direct investment net inflows | $335.2M | $956M |
Exports, imports and economic structure
| Stat | Papua New Guinea | Venezuela |
|---|---|---|
| Exports of goods and services, % of GDP | 72.2% | 30.7% |
| Imports of goods and services, % of GDP | 58.9% | 36.4% |
| Current account balance (balance of payments) | $5.5B | -$3.9B |
| Revenue excluding grants, % of GDP | 15.9% | N/A |
| Grants excluding technical cooperation, BoP | $268.9M | $125.8M |
| Personal remittances received | $2.9M | $297.1M |
| Industry including construction value added, % of GDP | 36.4% | 37.2% |
| Agriculture, forestry and fishing value added, % of GDP | 17.6% | 5% |
| Charges for the use of intellectual property, payments BoP | $139k | $258M |
| Charges for the use of intellectual property, receipts BoP | N/A | N/A |
| Expense, % of GDP | 19.1% | N/A |
| Government Expenditure, % of GDP | 21.3% | 33.5% |
