Papua New Guinea has an abundance of wealth in hydrocarbons and minerals that provides it with a solid foundation for economic growth, but also leaves the Pacific island nation vulnerable to the volatility of global commodity markets. As such, the government, led by Prime Minister James Marape, is following a long-term economic development...
The outbreak of Covid-19 in the first half of 2020 took an economic toll on countries around the world, with each experiencing the effects slightly differently. In Papua New Guinea the pandemic placed the country’s foreign exchange (forex) reserves under renewed pressure; PNG’s forex flows are primarily linked to commodity markets, many of...
For the past two decades Chinese consumer demand, production and investment have acted as major growth drivers for the global economy. The country’s presence is now acutely felt across emerging markets from South-east Asia to the Middle East, and sub-Saharan Africa to Latin America. Outbound flows of foreign direct investment (FDI) and...
In recent years Papua New Guinea’s trade and investment environment has been characterised by government policies aimed at generating wider – and more immediate – fiscal and social benefits from the country’s resource wealth, while simultaneously growing exports and decreasing imports as it develops a broader economic base. Australia remains a...
In recent years Papua New Guinea has moved away from the long-held policy of tariff reductions towards import substitution and self-sufficiency. As the Covid-19 pandemic underlined the vulnerability of international supply chains, efforts to scale up local industrial production and decrease reliance on imported staples are taking on renewed...
Papua New Guinea is a vast archipelago, of which the main island – shared with Indonesia – forms the largest tropical island on Earth. Known for its unique flora and fauna, the country is famous for its environmental variety. However, with more than 850 languages spoken within its borders, it is also considered one of the most culturally...
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