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Papua New Guinea exports CFP21 6T

Papua New Guinea exported approximately US$13.8 billion worth of goods in 2024, with petroleum gas, metals, copper ores, crude petroleum, and palm oil as the top commodities.

Export Value and Growth

In 2024, Papua New Guinea's total exports reached US$13.8 billion, marking a 38.5% increase from 2023 and a significant rise from US$10.4 billion in 2020, reflecting strong growth in key commodities like petroleum gas and gold . This export value translates to roughly US$1,100 per capita given the country's population of 12.54 million . The largest export by value remains Liquefied Natural Gas (LNG), which grew to K20.6 billion in 2024, although its market share slightly decreased due to faster growth in other commodities .

Top Export Commodities

The leading exports of Papua New Guinea include:

  • Petroleum Gas: US$5.36 billion, the largest single export .
  • Gold: US$2.53 billion, with a market share of 21.2% in 2024 .
  • Copper Ore: US$1.26 billion, a key mineral export .
  • Crude Petroleum: US$838 million .
  • Palm Oil: US$684 million, though its exports declined slightly from the previous year . Other notable exports include nickel products, frozen fish, coffee, cocoa, vegetable oils, and wood, reflecting a mix of mineral, agricultural, and marine products .

Main Export Partners

Papua New Guinea's exports are concentrated in a few major markets:

  • Asia: Japan (22.1%), China (18.5%), Taiwan (6.7%), Singapore (6.3%)
  • Oceania: Australia (20%)
  • Other regions: Europe (8.8%), North America (1.2%) These top ten countries account for over 90% of PNG's exports, highlighting a highly concentrated trade network .

Economic Significance

Exports are a critical component of Papua New Guinea's economy, contributing significantly to GDP (US$31.8 billion in 2024) and generating a positive trade balance of over US$5 billion . The export portfolio is heavily reliant on natural resources, particularly energy and minerals, which dominate the country's trade profile. In summary, Papua New Guinea's exports are dominated by energy and mineral commodities, with strong growth in LNG and gold, and a concentrated set of trading partners in Asia and Oceania, making exports a vital driver of the national economy .

Papua New Guinea exports CFP21 6T - E-Motional Optics & Connectivity

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