Oil Rents (As % of GDP) rose to 2.59% in Papua New Guinea in 2017

Oil Rents (As % of GDP) (%)
Oil & Gas | Papua New Guinea | June 1, 2019
$2.99
Excel Sheet

Oil rents as a percentage of GDP reached 2.59 % in 2017 in Papua New Guinea, according to EIA. This is 22.4 % more than in the previous year.

Historically, oil rents as a percentage of GDP in Papua New Guinea reached an all time high of 14.9 % in 2000 and an all time low of 0.020 % in 1991. When compared to Papua New Guinea's main peers, oil rents as a percentage of GDP in Australia amounted to 0.212 %, 0.834 % in Indonesia, 0.161 % in New Zealand and 0.051 % in Philippines in 2017.

Papua New Guinea has been ranked 29th within the group of 103 countries we follow in terms of oil rents as a percentage of GDP, 4 places above the position seen 10 years ago.

Oil rents are the difference between the value of crude oil production at world prices and total costs of production.

Oil Rents (As % of GDP) Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017
Australia % 0.841% 0.722% 0.540% 0.539% 0.208%
China % 1.53% 1.33% 1.11% 0.899% 0.337%
Indonesia % 2.94% 2.63% 2.33% 2.01% 0.806%
Malaysia % 6.30% 5.78% 4.91% 4.28% 2.04%
New Zealand % 0.772% 0.634% 0.470% 0.436% 0.199%
Papua New Guinea % 4.61% 3.52% 2.74% 3.41% 2.22%
Philippines % 0.260% 0.187% 0.146% 0.160% 0.050%
Singapore % ... ... ... ... ... ... ... ... ...
Taiwan % ... ... ... ... ... ... ... ... ...
Vietnam % 5.46% 5.35% 4.31% 3.58% 1.52%