Field info displayed for all countries in alpha order.
Papua New Guinea (PNG) is richly endowed with natural resources, but exploitation has been hampered by rugged terrain, land tenure issues, and the high cost of developing infrastructure. The economy has a small formal sector, focused mainly on the export of those natural resources, and an informal sector, employing the majority of the population. Agriculture provides a subsistence livelihood for 85% of the people. Mineral deposits, including copper, gold, and oil, account for nearly two-thirds of export earnings. Natural gas reserves amount to an estimated 227 billion cubic meters. A consortium led by a major American oil company is constructing a liquefied natural gas (LNG) production facility that could begin exporting in 2014. As the largest investment project in the country’s history, it has the potential to double GDP in the near-term and triple Papua New Guinea’s export revenue. An American-owned firm also opened PNG’s first oil refinery in 2004 and is building a second LNG production facility. The government faces the challenge of ensuring transparency and accountability for revenues flowing from this and other large LNG projects. In 2011 and 2012, the National Parliament passed legislation that created an offshore Sovereign Wealth Fund (SWF) to manage government surpluses from mineral, oil, and natural gas projects. In recent years, the government has opened up markets in telecommunications and air transport, making both more affordable to the people. Numerous challenges still face the government of Peter O’NEILL, including providing physical security for foreign investors, regaining investor confidence, restoring integrity to state institutions, promoting economic efficiency by privatizing moribund state institutions, and maintaining good relations with Australia, its former colonial ruler. Other socio-cultural challenges could upend the economy including chronic law and order and land tenure issues. The global financial crisis had little impact because of continued foreign demand for PNG’s commodities.
Field info displayed for all countries in alpha order.
$16.7 billion (2011 est.)

country comparison to the world: 135

$15.3 billion (2010 est.)
$14.28 billion (2009 est.)
note: data are in 2011 US dollars
Field info displayed for all countries in alpha order.
$11.4 billion (2011 est.)
Field info displayed for all countries in alpha order.
9% (2011 est.)

country comparison to the world: 8

7% (2010 est.)
5.5% (2009 est.)
Field info displayed for all countries in alpha order.
$2,500 (2011 est.)

country comparison to the world: 178

$2,400 (2010 est.)
$2,300 (2009 est.)
note: data are in 2011 US dollars
Field info displayed for all countries in alpha order.
agriculture: 30.3%
industry: 37.7%
services: 32.1% (2011 est.)
Field info displayed for all countries in alpha order.
3.896 million (2011 est.)

country comparison to the world: 91

Field info displayed for all countries in alpha order.
agriculture: 85%
industry: NA%
services: NA% (2005)
Field info displayed for all countries in alpha order.
1.9% (2008 est.)

country comparison to the world: 9

1.8% (2004)
Field info displayed for all countries in alpha order.
37% (2002 est.)
Field info displayed for all countries in alpha order.
lowest 10%: 1.7%
highest 10%: 40.5% (1996)
Field info displayed for all countries in alpha order.
50.9 (1996)

country comparison to the world: 20

Field info displayed for all countries in alpha order.
19.3% of GDP (2011 est.)

country comparison to the world: 129

Field info displayed for all countries in alpha order.
revenues: $4.191 billion
expenditures: $4.151 billion (2011 est.)
Field info displayed for all countries in alpha order.
36.8% of GDP (2011 est.)

country comparison to the world: 53

Field info displayed for all countries in alpha order.
0.3% of GDP (2011 est.)

country comparison to the world: 42

Field info displayed for all countries in alpha order.
22.3% of GDP (2011 est.)

country comparison to the world: 110

25.7% of GDP (2010 est.)
Field info displayed for all countries in alpha order.
8.4% (2011 est.)

country comparison to the world: 180

6% (2010 est.)
Field info displayed for all countries in alpha order.
14% (31 December 2010 est.)

country comparison to the world: 46

6.92% (31 December 2009 est.)
Field info displayed for all countries in alpha order.
10.9% (31 December 2011 est.)

country comparison to the world: 91

10.45% (31 December 2010 est.)
Field info displayed for all countries in alpha order.
$3.86 billion (31 December 2011 est.)

country comparison to the world: 104

$2.893 billion (31 December 2010 est.)
Field info displayed for all countries in alpha order.
$6.337 billion (31 December 2011 est.)

country comparison to the world: 118

$4.933 billion (31 December 2010 est.)
Field info displayed for all countries in alpha order.
$3.412 billion (31 December 2011 est.)

country comparison to the world: 122

$2.647 billion (31 December 2010 est.)
Field info displayed for all countries in alpha order.
$NA (31 December 2011)

country comparison to the world: 75

$6.632 billion (31 December 2006)
Field info displayed for all countries in alpha order.
coffee, cocoa, copra, palm kernels, tea, sugar, rubber, sweet potatoes, fruit, vegetables, vanilla; poultry, pork; shellfish
Field info displayed for all countries in alpha order.
copra crushing, palm oil processing, plywood production, wood chip production; mining (gold, silver, and copper); crude oil production, petroleum refining; construction, tourism
Field info displayed for all countries in alpha order.
10% (2010 est.)

country comparison to the world: 10

Field info displayed for all countries in alpha order.
2.965 billion kWh (2008 est.)

country comparison to the world: 127

Field info displayed for all countries in alpha order.
2.757 billion kWh (2008 est.)

country comparison to the world: 131

Field info displayed for all countries in alpha order.
0 kWh (2009 est.)
Field info displayed for all countries in alpha order.
0 kWh (2009 est.)
Field info displayed for all countries in alpha order.
30,570 bbl/day (2010 est.)

country comparison to the world: 69

Field info displayed for all countries in alpha order.
33,000 bbl/day (2010 est.)

country comparison to the world: 110

Field info displayed for all countries in alpha order.
8,029 bbl/day (2009 est.)

country comparison to the world: 99

Field info displayed for all countries in alpha order.
14,770 bbl/day (2009 est.)

country comparison to the world: 130

Field info displayed for all countries in alpha order.
88 million bbl (1 January 2011 est.)

country comparison to the world: 73

Field info displayed for all countries in alpha order.
130 million cu m (2009 est.)

country comparison to the world: 77

Field info displayed for all countries in alpha order.
130 million cu m (2009 est.)

country comparison to the world: 103

Field info displayed for all countries in alpha order.
0 cu m (2009 est.)

country comparison to the world: 163

Field info displayed for all countries in alpha order.
0 cu m (2009 est.)

country comparison to the world: 115

Field info displayed for all countries in alpha order.
226.5 billion cu m (1 January 2011 est.)

country comparison to the world: 44

Field info displayed for all countries in alpha order.
-$2.42 billion (2011 est.)

country comparison to the world: 156

-$632.5 million (2010 est.)
Field info displayed for all countries in alpha order.
$7.566 billion (2011 est.)

country comparison to the world: 104

$5.746 billion (2010 est.)
Field info displayed for all countries in alpha order.
oil, gold, copper ore, logs, palm oil, coffee, cocoa, crayfish, prawns
Field info displayed for all countries in alpha order.
Australia 27.9%, Japan 9.1%, China 7.1% (2010)
Field info displayed for all countries in alpha order.
$4.945 billion (2011 est.)

country comparison to the world: 126

$3.529 billion (2010 est.)
Field info displayed for all countries in alpha order.
machinery and transport equipment, manufactured goods, food, fuels, chemicals
Field info displayed for all countries in alpha order.
Australia 42.1%, Singapore 13.1%, China 7.9%, Japan 6.6%, US 4.3% (2010)
Field info displayed for all countries in alpha order.
$3.19 billion (31 December 2011 est.)

country comparison to the world: 99

$3.092 billion (31 December 2010 est.)
Field info displayed for all countries in alpha order.
$1.719 billion (31 December 2011 est.)

country comparison to the world: 142

$1.622 billion (31 December 2010 est.)
Field info displayed for all countries in alpha order.
$NA
Field info displayed for all countries in alpha order.
$NA
Field info displayed for all countries in alpha order.
kina (PGK) per US dollar –
2.2056 (2011 est.)
2.7193 (2010 est.)
2.7551 (2009)
2.6956 (2008)
3.03 (2007)
Field info displayed for all countries in alpha order.
calendar year
Source: CIA World Factbook 2012

About The Aseanists Time

The Aseanists Time is daily online newspaper and magazine covering on regional politic, economic, and social issues; science and technology, regional leaders, politic and economic in each ASEAN Member States along with ASEAN 6 (United States, Australia, Japan, South Korea, China, and India), regional natural disaster and climate change, regional business, finance and economic statistic and figure. Furthermore, We also cover on top 10 economic countries. Finally, we report ASEAN, EU and UN as well.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s