Papua New Guinea: Financial openness
* indicates monthly or quarterly data series
| Papua New Guinea |
Financial openness index |
|---|---|
| Latest value | -0.673 |
| Year | 2022 |
| Measure | index points |
| Data availability | 1979 - 2022 |
| Average | -0.209 |
| Min - Max | -1.248 - 1.212 |
| Source | Chinn-Ito Index |
| Available for | Data download |
The latest value from 2022 is -0.673 index points, unchanged from -0.673 index points in 2021. In comparison, the world average is 0.307 index points, based on data from 174 countries. Historically, the average for Papua New Guinea from 1979 to 2022 is -0.209 index points. The minimum value, -1.248 index points, was reached in 1996 while the maximum of 1.212 index points was recorded in 2011.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series
| Recent values | Papua New Guinea: Financial openness |
|---|---|
| 2022 | -0.673 |
| 2021 | -0.673 |
| 2020 | -0.673 |
| 2019 | -0.673 |
| 2018 | -0.673 |
| 2017 | 0.014 |
| 2016 | 0.014 |
| 2015 | 1.212 |
Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
Other resources:
Download data from our database
All indicators for Papua New Guinea
All indicators on the website
Article: Are trade deficits bad for the economy?
Article: Sources of economic growth
Article: Currency values and investment returns
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 131.20 | 2024 | percent |
| Trade openness | 131.08 | 2004 | percent |
| Financial openness | -0.673 | 2022 | index points |
| Exports, percent of GDP | 72.16 | 2004 | percent |
| Exports, billion dollars | 2.83 | 2004 | billion U.S. dollars |
| Growth of exports | 2.72 | 2004 | percent |
| Imports, percent of GDP | 58.92 | 2004 | percent |
| Imports, billion dollars | 2.31 | 2004 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | -0.64 | 2024 | percent |
| Foreign Direct Investment, billion dollars | -0.20 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | -0.82 | 2016 | million dollars (current) |
| Current account, percent of GDP | 15.48 | 2024 | percent |
| Current account, in dollars | 4.77 | 2024 | billion U.S. dollars |
| Trade balance, percent of GDP | 13.25 | 2004 | percent |
| Trade balance, in dollars | 6.39 | 2024 | billion U.S. dollars |
| Reserves | 3.71 | 2024 | billion U.S. dollars |
| Remittances, percent of GDP | 0.01 | 2024 | percent |
| Remittances | 3.87 | 2024 | million U.S. dollars |
| Net errors and omissions | -33.44 | 2024 | million USD |
| External debt | 46.97 | 2024 | percent |
| Short-term external debt | 0.12 | 2023 | percent |
| Short-term debt to reserves | 0.48 | 2023 | percent |