Despite some weak headline numbers, Papua New Guinea’s economy is set to see a recovery in 2017. Depreciation of the kina and the shortage of US dollars have slowed imports and led to pockets of strength. Robust activity at the small and medium-sized enterprise level and in the informal sector is ongoing, while key statistics, such as the current account, are indicating a return to balance....
Papua New Guinea
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Chapter | Trade & Investment from The Report: Papua New Guinea 2017
The international position of Papua New Guinea has improved in recent years as the country continues to benefit from a number of positive trends. A stabilisation in commodity prices, strong output from the country’s major projects and an end to the El Niño drought have brought major trade indicators back into line. A lack of US dollars and the weak kina have helped as well by boosting exports...
Chapter | Country Profile from The Report: Papua New Guinea 2017
With an election in 2017, the year has proven be a challenging one in Papua New Guinea. The economic downturn following the completion of the PNG liquefied natural gas project has resulted in criticism of the current government, amid accusations of mismanagement. Despite this, Prime Minister Peter O’Neill secured a fourth term, winning 78% of the votes cast in his district. Boosting social and...
After a number of challenging years, PNG is starting to hit its equilibrium point again. It has largely passed through the period of difficult adjustments, and now some balance has returned. A number of long-planned projects are progressing and new areas of opportunity are being explored.
Chapter | Table of Contents from The Report: Papua New Guinea 2016
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A country of extraordinary diversity, spread across some of the world’s most spectacular, and often inhospitable, terrain, Papua New Guinea today is a country once again at a crossroads. A major economic boom driven by a massive liquefied natural gas project has been swiftly followed by a sharp slowdown as global oil prices fell, and as a result the government has come under some pressure.