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PNG's economic statistics. Provide with graphs diagrams if necessary.

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As of my last update in October 2023, I cannot directly generate or display graphs or diagrams. However, I can provide a summary of the key economic statistics for Papua New Guinea (PNG) and suggest how you might visualize this data using various types of graphs.

Key Economic Statistics of Papua New Guinea (as of 2023)

  1. GDP Growth Rate:

    • Current GDP: Approximately USD 24 billion.
    • Growth Rate: The economy is expected to grow at a rate of around 2-3% annually in recent years, but can vary based on factors like commodity prices and external economic conditions.

  2. Inflation Rate:

    • Recent estimates indicate an inflation rate around 3-5%. Inflation can be affected by changes in global oil prices and currency fluctuations.

  3. Unemployment Rate:

    • The unemployment rate is estimated to be around 2-3%. However, underemployment remains a significant issue, particularly in rural areas.

  4. Public Debt:

    • The public debt-to-GDP ratio is around 35-40%, with efforts ongoing to manage fiscal challenges and stimulate growth.

  5. Trade Balance:

    • PNG typically runs a trade surplus, primarily due to its natural resources, particularly gold, copper, and liquefied natural gas (LNG).

  6. Major Exports:

    • Key exports include mineral resources (LNG, gold, copper), agricultural products (oil palm, cocoa, coffee).

  7. Major Imports:

    • PNG imports machinery, equipment, and consumer goods. Key partner nations include Australia, Singapore, and China.

Suggested Graphs

  1. Bar Graph for GDP Growth Rate:

    • Visualize GDP growth over recent years comparing each year against the previous.

  2. Line Graph for Inflation Rate:

    • Show inflation trends over the past decade, marking significant peaks and troughs.

  3. Pie Chart for Trade Composition:

    • Illustrate the composition of exports and imports, showing the shares of different commodities.

  4. Stacked Bar Graph for Public Debt:

    • Display the public debt against GDP over multiple years to visualize changes in the debt ratio.

  5. Area Chart for Unemployment and Underemployment:

    • Compare unemployment rates with underemployment statistics to highlight labor market challenges.

Sources for Data

To obtain the most current and precise data for visualizations and further exploration:

  • World Bank
  • International Monetary Fund (IMF)
  • Papua New Guinea National Statistics Office
  • Asian Development Bank (ADB)

You can use data visualization tools like Microsoft Excel, Google Sheets, or dedicated software like Tableau or Power BI to create these graphs based on the data collected from the above sources.