Papua New Guinea Industry

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How do you view the growth prospects of Papua New Guinea’s retail industry in 2018?

Chapter | Industry & Retail from The Report: Papua New Guinea 2018

Industry has emerged as one of the bright spots in Papua New Guinea’s economy in recent years, providing a buffer against downturns in the commodity cycle. As natural gas prices fell and related businesses struggled, manufacturing held its own. The weak currency and the lack of foreign exchange that accompanied the downturn may have actually helped matters, as trouble sourcing dollars encouraged...

Although Papua New Guinea’s macroeconomic slowdown, challenging business climate and falling global commodity prices have weighed on trade and investment in recent years, the country continues to offer high-potential opportunities to investors.

New initiatives focused on building agricultural production capacity and lowering costs for goods carried overseas seek to move Papua New Guinea one step closer to becoming a more competitive, export-driven economy.

Papua New Guinea’s mining industry should see increased activity following the announcement of new foreign investment, which comes as many mines resume operations after February’s earthquake.

Import tariffs imposed at the beginning of the year are starting to have an impact on local industry in Papua New Guinea, supporting efforts to curb the import bill and encourage self-sufficiency.  

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