Net incurrence of liabilities, total in Papua New Guinea
Papua New Guinea: Net incurrence of liabilities, total was 2.1% in 2024. ◆ Volatile
Net incurrence of liabilities, total in Papua New Guinea, 1990–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2024, net incurrence of liabilities, total in Papua New Guinea stood at 2.1%.
Compared with earlier readings it is down 44.6% on the previous year and down 64.2% over ten years.
Over the whole period, net incurrence of liabilities, total in Papua New Guinea peaked at 8.7% in 2021 and was at its lowest, 0.4%, in 1990.
That places Papua New Guinea 89th out of 136 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Net incurrence of liabilities, total in Papua New Guinea, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1990 | 0.4% | — |
| 1991 | 2.4% | +576.6% |
| 1992 | 7.0% | +186.1% |
| 1993 | 8.4% | +19.8% |
| 1994 | 1.9% | -76.9% |
| 1995 | 0.8% | -60.5% |
| 1996 | 5.3% | +594.9% |
| 1997 | 2.2% | -58.9% |
| 1998 | 0.8% | -64.7% |
| 1999 | 5.8% | +648.1% |
| 2000 | 3.5% | -39.4% |
| 2001 | 4.1% | +18.0% |
| 2002 | 2.7% | -33.9% |
| 2014 | 6.0% | +119.3% |
| 2015 | 4.3% | -27.4% |
| 2016 | 6.1% | +40.2% |
| 2017 | 2.2% | -63.3% |
| 2018 | 4.1% | +85.4% |
| 2019 | 4.0% | -2.1% |
| 2020 | 7.9% | +95.0% |
| 2021 | 8.7% | +10.2% |
| 2022 | 4.9% | -43.2% |
| 2023 | 3.9% | -21.9% |
| 2024 | 2.1% | -44.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3.5% | 0.4% | 8.4% | 10 |
| 2000s | 3.4% | 2.7% | 4.1% | 3 |
| 2010s | 4.5% | 2.2% | 6.1% | 6 |
| 2020s | 5.5% | 2.1% | 8.7% | 5 |
Countries ranked near Papua New Guinea
More public sector data for Papua New Guinea
- Arms imports 9.00 million SIPRI trend indicator values (2023)
- Arms imports (SIPRI trend indicator values), per capita 0.8663 SIPRI trend indicator values per person (2023)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0003 SIPRI trend indicator values per US$ of GDP (2023)
- Arms imports (SIPRI trend indicator values), annual growth rate 600 % change on previous year (1997)
- Arms imports (SIPRI trend indicator values), gaps filled 9.00 million SIPRI trend indicator values (2023)
- Military expenditure (current USD), per capita 8.6 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.003 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate -6.23 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 91.01 million current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 19.87 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is net incurrence of liabilities, total in Papua New Guinea?
- Net incurrence of liabilities, total in Papua New Guinea was 2.1% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in Papua New Guinea?
- The highest recorded value was 8.7% in 2021.
- What is the lowest net incurrence of liabilities, total recorded in Papua New Guinea?
- The lowest recorded value was 0.4% in 1990.
- How does Papua New Guinea rank for net incurrence of liabilities, total?
- Papua New Guinea ranks 89th out of 136 countries with data for 2024.
- Is net incurrence of liabilities, total rising or falling in Papua New Guinea?
- Over the last ten years it is down 64.2%. The long-run trend across the full record is volatile.
- Where does this Papua New Guinea data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.