Compare Papua New Guinea (2007) - Papua New Guinea (2008)

Compare Papua New Guinea (2007) z Papua New Guinea (2008)

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	Papua New Guinea (2007)	Papua New Guinea (2008)

Budget	revenues: $2.065 billion expenditures: $1.924 billion (2006 est.)	revenues: $2.209 billion expenditures: $1.994 billion (2007 est.)
Debt - external	$1.813 billion (2006 est.)	$1.814 billion (31 December 2007 est.)
Economic aid - recipient	$NA (2005)	$266.1 million (2005)
Economy - overview	Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by rugged terrain and the high cost of developing infrastructure. Agriculture provides a subsistence livelihood for 85% of the population. Mineral deposits, including oil, copper, and gold, account for nearly two-thirds of export earnings. The government of Prime Minister SOMARE has expended much of its energy remaining in power and should be the first government in decades to serve a full five-year term. The government also brought stability to the national budget, largely through expenditure control; however, it has relaxed spending constraints in 2006 and 2007 as elections approach. Numerous challenges still face the government including regaining investor confidence, restoring integrity to state institutions, promoting economic efficiency by privatizing moribund state institutions, and balancing relations with Australia, its former colonial ruler. Other socio-cultural challenges could upend the economy including a worsening HIV/Aids epidemic and chronic law and order and land tenure issues. Australia annually supplies $240 million in aid, which accounts for nearly 20% of the national budget.	Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by rugged terrain and the high cost of developing infrastructure. Agriculture provides a subsistence livelihood for 85% of the population. Mineral deposits, including copper, gold, and oil, account for nearly two-thirds of export earnings. The government of Prime Minister SOMARE has expended much of its energy remaining in power. He was the first prime minister ever to serve a full five-year term. The government also brought stability to the national budget, largely through expenditure control; however, it relaxed spending constraints in 2006 and 2007 as elections approached. Numerous challenges still face the government including regaining investor confidence, restoring integrity to state institutions, promoting economic efficiency by privatizing moribund state institutions, and balancing relations with Australia, its former colonial ruler. Other socio-cultural challenges could upend the economy including a worsening HIV/AIDS epidemic and chronic law and order and land tenure issues. Australia will supply more than $300 million in aid in FY07/08, which accounts for nearly 20% of the national budget.
Exchange rates	kina per US dollar - 3.0643 (2006), 3.08 (2005), 3.2225 (2004), 3.5635 (2003), 3.8952 (2002)	kina per US dollar - 3.03 (2007), 3.0643 (2006), 3.08 (2005), 3.2225 (2004), 3.5635 (2003)
Exports	NA bbl/day	44,580 bbl/day (2004)
GDP - composition by sector	agriculture: 36.1% industry: 36.7% services: 27.2% (2006 est.)	agriculture: 35.5% industry: 37% services: 27.5% (2007 est.)
GDP - real growth rate	3.7% (2006 est.)	4% (2007 est.)
Imports	NA bbl/day	24,020 bbl/day (2004)
Industrial production growth rate	NA%	4.8% (2007 est.)
Inflation rate (consumer prices)	2.9% (2006 est.)	1.8% (2007 est.)
International organization participation	ACP, APEC, ARF, AsDB, ASEAN (observer), C, CP, FAO, G-77, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM (observer), IPU, ISO (correspondent), ITSO, ITU, MIGA, NAM, OPCW, PIF, Sparteca, SPC, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO	ACP, ADB, APEC, ARF, ASEAN (observer), C, CP, FAO, G-77, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM (observer), IPU, ISO (correspondent), ITSO, ITU, MIGA, NAM, OPCW, PIF, Sparteca, SPC, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force	3.477 million (2006 est.)	3.557 million (2007 est.)
Military branches	Papua New Guinea Defense Force (PNGDF; includes Maritime Operations Element, Air Operations Element) (2007)	Papua New Guinea Defense Force (PNGDF; includes Maritime Operations Element, Air Operations Element) (2008)
Pipelines	oil 264 km (2006)	oil 264 km (2007)
Telephone system	general assessment: services are adequate; facilities provide radiotelephone and telegraph, coastal radio, aeronautical radio, and international radio communication services domestic: mostly radiotelephone international: country code - 675; submarine cables to Australia and Guam; satellite earth station - 1 Intelsat (Pacific Ocean); international radio communication service	general assessment: services are minimal; facilities provide radiotelephone and telegraph, coastal radio, aeronautical radio, and international radio communication services domestic: access to telephone services is not widely available; combined fixed-line and mobile-cellular telephone density is less than 3 telephones per 100 persons international: country code - 675; submarine cables to Australia and Guam; satellite earth station - 1 Intelsat (Pacific Ocean); international radio communication service
Unemployment rate	2% up to 80% in urban areas (2004)	1.9% up to 80% in urban areas (2004)

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