household debts in Papua New Guinea

Gross debt in Papua New Guinea

The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. Not included in the gross debt are the demands of a country to foreign ones.

The gross debt in Papua New Guinea in the period from 1998 to 2020 was between 1.4 billion and 11.7 billion USD. The highest level of the last years at twelve billion US Dollar was reached in 2020.

Based on the number of inhabitants, this is a debt of 1,196 USD per person. For comparison, the average debt per person in the same year in the European Union was 30,783 USD.

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Gross debt of the last 22 years in billion USD

YearPapua New Guinea totalPapua New Guinea per capitaEU per capita
19981.73 bn USD310 USD14,079 USD
19991.45 bn USD254 USD14,032 USD
20001.49 bn USD255 USD11,232 USD
20011.47 bn USD246 USD11,255 USD
20021.45 bn USD238 USD12,258 USD
20031.43 bn USD230 USD15,286 USD
20041.46 bn USD230 USD17,595 USD
20051.54 bn USD236 USD18,327 USD
20062.17 bn USD327 USD18,877 USD
20072.11 bn USD311 USD20,898 USD
20082.52 bn USD361 USD24,086 USD
20092.52 bn USD353 USD25,361 USD
20102.46 bn USD337 USD26,496 USD
20112.93 bn USD392 USD29,231 USD
20124.07 bn USD534 USD28,174 USD
20135.29 bn USD679 USD29,981 USD
20146.24 bn USD786 USD30,648 USD
20156.50 bn USD749 USD25,918 USD
20167.00 bn USD787 USD26,261 USD
20177.39 bn USD811 USD27,024 USD
20188.84 bn USD948 USD28,448 USD
20199.91 bn USD1,039 USD27,168 USD
202011.66 bn USD1,196 USD30,783 USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      Papua New Guinea       European Union