The minerals and energy industry have long played a vital role in Papua New Guinea’s economic development.
The industry contributes 26% of PNG’s GDP and around 84% of the Nation’s export revenue which totalled K23 billion in 2017.
The financial contribution of the resource sectors to the PNG economy can be broadly divided into two categories:
Prior to the completion of the LNG project, mining was the single largest export revenue earner; now reverting to the second largest, behind oil and gas (LNG) exports. Growth in the resource sectors has also acted as a large stimulus for growth in other sectors of the economy, including the financial sector, agriculture, telecommunications, construction, manufacturing and tourism.
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