Papua New Guinea Industry

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What is your outlook for Papua New Guinea’s retail sector in the coming 12 months?

With a mood of cautious optimism, Papua New Guinea’s retail sector is recovering from a period of uncertainty caused by the devastating earthquake in Hela Province in early 2018. That same year was marked by sluggish growth before the APEC Leaders’ Summit in November 2018 triggered an upturn in the hospitality and general retail sectors, and encouraged businesses to invest...

Small and medium-sized enterprises (SMEs) are the engines of global economic growth and employment, accounting for an average of 33% of GDP and 45% of the workforce in high-income countries, and over 60% of GDP and 70% of employment in developing economies. In the case of the latter, the rise in the number of SMEs has been crucial to economic diversification and resilience,...

What is the short- and medium-term outlook for the retail sector in Papua New Guinea?

Already major contributors to the nation’s revenue base, Papua New Guinea’s industry and manufacturing sectors hold significant potential for future investment and development. As such, the administration of Prime Minister James Marape remains devoted to a course that will encourage and protect businesses while working towards a reduction in the national import bill. This...

The imposition of import tariffs in Papua New Guinea in recent years has had a broadly positive effect on local industry, both in terms of encouraging capital investment by manufacturing companies and ensuring the survival of existing industrial firms. However, the policy has also caused some supply-side constraints and raised questions about the country’s attractiveness to...

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