As has been the case worldwide, in the first half of 2020 Papua New Guinea’s retail sector had to contend with the impact of the Covid-19 pandemic. In early February the government began imposing measures to limit the spread of the virus, while simultaneously introducing significant macroeconomic initiatives to support the economy and cushion...
Which regions hold the most growth potential for the retail sector, and what are the main challenges to expansion across the country?
The economy of Papua New Guinea is dominated by its large, labour-intensive agriculture sector and extractive industries, which are mainly focused on oil, liquefied natural gas (LNG) and various mining activities, including gold copper and silver. The manufacturing sector remains small, generally contributing around less than 2% of GDP, and is...
Papua New Guinea’s construction sector is closely tied to its extractive industries. This is in part due to the substantial contribution of extractives to the country’s economy, accounting for around 28% of GDP in 2019. The performance of extractives also dictates access to foreign exchange (forex), with the segment representing roughly 94% of...
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