PACIFIC ISLANDS BUSINESS INDICATORS
| Papua New Guinea | |
| (Moresby) | |
| Exchange Rate: 1 $ Local currency = x $US | |
| Currency | Kina |
| Calendar Year 1996 | 0.76 |
| Calendar Year 1997 (used in tables) | 0.71 |
| Q1 1998 | 0.54 |
| % Change 1996 - Q1 1998 | -29% |
GENERAL |
|
Land Area |
462,243 km2 |
EEZ |
3,120,000 km2 |
GDP |
US$5,290 million (1994) |
GNP per Capita |
US$1,150 (1996) |
Human Development Index |
0.504 (1993) |
| LABOUR FORCE CONTEXT | |
| Population (1,000s latest census) 1 | 4200 |
| Potential Labour Force, age 15-59 | 2268 |
| Unpaid/underemployed labour force (%) 2 | |
| male | 77 |
| female | 93 |
| Quality of Local Labour Force3 | |
| Adult literacy rate (%) | n/a |
| Enrolment rate secondary schools (%) | n/a |
| LABOUR FORCE CONDITIONS | |
| Legislated minimum wage | 0.40 |
| Average Wage Rates ($per hour)4 | |
| Managerial | 7.90 |
| Supervisory | 5.90 |
| Skilled | 5.10 |
| Semi Skilled | 3.30 |
| Unskilled | 0.60 |
| Normal number of hours work per week | 40 |
| No. paid holidays per year | 6 |
| Employer Contributions (% wage bill) | |
| Workers Superannuation Fund | |
| compulsory? | Yes |
| rate (%) | 7 |
| Western Compensation Fund | |
| compulsory? | n/a |
| rate (%)5 | n/a |
| Electricity | |
| connection fee | 71 |
| tariff per kilowat hour | 0.13/0.10 |
| Water & Sewage | |
| water connection fee ($) | 18 |
| sewage connection fee | no charge |
| sewage rate | 128/yr |
| Telephone | |
| installation fee ($) | 40 |
| line/equipment rental rate ($) per year | 84 |
| rate per local call ($) | 0.12 |
| long distance rates ($) per minute | |
| Japan (Tokyo) | 2.50 |
| USA (Los Angeles) | 2.50 |
| United Kingdom (London) | 2.50 |
| Australia (Sydney) | 1.50 |
| New Zealand (Auckland) | 1.50 |
| Singapore | 1.70 |
| Neighbouring Forum Island countries | |
| Tonga | |
| Samoa | |
| Fiji | 1.50 |
| Papua New Guinea | |
| Vanuatu | 1.50 |
| Marshall Islands | |
| Tuvalu | |
| Kiribati | |
| Federated States of Micronesia | |
| Solomon Islands | 1.50 |
| Cook Islands | |
| Nauru | |
| Palau | |
| Total Cost 1 year of service 1 | 2608 |
| Internet/E-mail | |
| connection fee | 37 |
| rental rate per year | 37 |
| no. free hours per month included in rental | n/a |
| rate per additional hour use | 1.80 |
| Total cost 1 year of service 2 | |
| Sea Freight (cif) per cubic metre 1 | |
| Japan (Tokyo) | 266 |
| USA (Los Angeles) | 322 |
| United Kingdom (London) | 353 |
| Australia (Sydney) | 129 |
| New Zealand (Auckland) | 130 |
| Singapore | 149 |
| Neighbouring Forum Island Countries | |
| Tonga | |
| Samoa | 161 |
| Fiji | |
| Marshall Islands | |
| Papua New Guinea | |
| Cook Islands | |
| Solomon Islands | 99 |
| Vanuatu | 223 |
| Palau | |
| Kiribati | |
| Federated States of Micronesia | |
| Air Freight (cif) per kilogram | |
| Japan (Tokyo) | 4.10 |
| USA (Los Angeles) | 7.70 |
| United Kingdom (London) | 10.70 |
| Australia (Sydney) | 2.40 |
| New Zealand (Auckland) | 4.30 |
| Singapore | 4.10 |
| Neighbouring Forum Island Countries | |
| Tonga | |
| Samoa | |
| Fiji | 4.90 |
| Marshall Islands | |
| Kiribati | |
| Federated States of Micronesia | |
| Papua New Guinea | |
| Cook Islands | |
| Solomon Islands | 1.90 |
| Vanuatu | 2.50 |
| Palau | |
| Land | |
| total area (sq kilometers | 461,690 |
| Customary land | |
| Proportion customarily owned (%) | 97 |
| Max period for commercial lease (yrs) | 99 |
| Average lease rate per acre per annum | |
| agricultural land ($) | 100 |
| commercial land ($) | 143,700 |
| Free hold land | |
| average purchase price per acre | 287,300 |
| Factory Space | |
| average annual rental price per sq ft | 10.50 |
| Commercial Banking | |
| Commercial Banks, excl Dev Banks (No) | 6 |
| Lending rate range (% per annum) | n/a |
| Average lending rate (% per annum) | 10.50 |
| Personal Tax Rates (Brackets) | |
| No tax | |
| rate of 5% | |
| rate of 6% | |
| rate of 8% | |
| rate of 10% | >1,420 |
| rate of 12% | |
| rate of 15% | |
| rate of 20% | 1,420-4,970 |
| rate of 25% | |
| rate of 30% | 4,970-12,070 |
| rate of 35% | 12,070-42,600 |
| rate of 37% | 42,600-56,800 |
| rate of 40% | >56,800 |
| Company Tax Rate (%) | |
| Resident Company | |
| General | 25 |
| Mining | 35 |
| Petroleum | 50 |
| Non-Resident Company | |
| General | 48 |
| Mining | 35 |
| Petroleum | 50 |
| Other Taxes & Fees | |
| Business Gross Receipt tax (%) | |
| GST/Value added tax (%) | - |
| Sales tax (%) | 3 |
| Annual business licence fees ($) | 10-1,075 |
| Import Duty Rates (% range) | |
| manufacturing inputs | 11 |
| general (excluding cigarettes, liquor et) | 11 |