Papua New Guinea Current Account to GDP

Papua New Guinea recorded a Current Account deficit of 0.38 percent of the country's Gross Domestic Product in 2011. Current Account to GDP in Papua New Guinea is reported by the Bank of Papua New Guinea. Historically, from 1994 until 2011, Papua New Guinea Current Account to GDP averaged 4.1 Percent reaching an all time high of 13.9 Percent in December of 1995 and a record low of -7.2 Percent in December of 2009. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page includes a chart with historical data for Current Account to GDP in Papua New Guinea.