The economic activities in Papua New Guinea split across industry at 42.9% of GDP, services at 35%, and agriculture at 22.1%, with oil palm, coconuts, and coffee grown. What are the main economic activities in Papua New Guinea? Mining of gold and copper, oil and gas, and farming lead. As of 2024, GDP was about $32.54 billion. A resource-rich economy.
As of 2024, Papua New Guinea’s economy shows a GDP of about $32.54 billion. In terms of GDP per capita, Papua New Guinea has approximately $2,572, placing it among the lower-middle-income economies worldwide.
Despite facing challenges, Papua New Guinea continues to strive for economic growth and development in the global market.
What are the economic activities of Papua New Guinea?
- Primary activities: 22.1% of GDP (agriculture, CIA est.).
- Secondary activities: 42.9% of GDP (industry, CIA est.).
- Tertiary activities: 35% of GDP (services, CIA est.). (As of 2024, source: CIA World Factbook)
Last updated: June 19, 2026
Primary Sector of Papua New Guinea
With 3.18% of the land dedicated to agriculture, the country produces a variety of crops and animal products, including oil palm fruit, coconuts, bananas, fruits, sweet potatoes, game meat, yams, root vegetables, sugarcane, and vegetables.
Despite contributing 22.1% to the GDP, agriculture plays a crucial role in the economy by providing sustenance, employment, and export opportunities. The sector’s significance lies in the variety of products it offers, showcasing the country’s agricultural richness and potential for growth.
The primary sector of Papua New Guinea thrives due to its rich geological diversity, providing abundant natural resources. Gold, copper, silver, natural gas, timber, oil, and fisheries play a crucial role in the economy, contributing significantly to its growth and development.Papua New Guinea’s oil economic activity is a key player in the country’s economy, with a daily production of around 37,233 barrels. Ranking 38th in the world for oil production, the country holds significant oil reserves, contributing to its overall economic growth and development.Papua New Guinea’s natural gas production in 2020 reached 9.8 billion m³, securing its position as the 44th largest producer globally. This thriving gas economic activity further enhances the country’s economic growth and development, diversifying its resource portfolio and attracting investment opportunities.Secondary Sector of Papua New Guinea
What is the secondary sector or what are secondary activities?The secondary sector comprises industries that produce finished goods from raw materials. In Papua New Guinea, main industrial products include oil and gas, gold, copper, nickel, palm oil, plywood, copra, construction materials, livestock, dairy, and various spice products like turmeric, vanilla, ginger, and chili.In 2023, Papua New Guinea’s total exports are mainly comprised of natural resources such as minerals, timber, and agricultural products. Manufactures play a minor role, reflecting the country’s reliance on raw material exports.Tertiary sector of Papua New Guinea
Military Activities and Economic Sectors of Papua New Guinea
In Papua New Guinea, the primary sector helps by providing resources needed for military use. The secondary sector is important too, as it involves making military equipment. The tertiary sector includes services the military provides, while the quaternary sector focuses on research and development. Lastly, the quinary sector deals with high-level decisions and strategy in the military.
In 2023, Papua New Guinea’s military expenditure was 97 million US dollars, which is 0.33% of the country’s GDP. The active military force consists of 3,600 personnel. This means there are about 0.5 active military members for every 1,000 people in the country.
Biggest company in Papua New Guinea
Which is the biggest company in Papua New Guinea? BSP Financial Group Limited (formerly Bank South Pacific) is the largest, with a market capitalisation of roughly AU$3.5 billion (about US$2.8 billion as of 2024). It operates in commercial banking and financial services, part of the tertiary economic sector. Headquartered in Port Moresby and founded in 1957, BSP is the country largest bank and is listed on PNGX and the ASX. (As of 2024, source: PNGX)International Trade of Papua New Guinea
Import Activities of Papua New Guinea
Papua New Guinea’s import activities total roughly $5.5 billion, equivalent to about 17% of its GDP, showing its reliance on foreign goods. (As of 2024, source: World Bank)Papua New Guinea’s major import partners include China (26%), Australia (23%), Singapore (16%), Malaysia (9%), and Indonesia (4%). The country imports refined petroleum, rice, plastic products, excavation machinery, and trucks.Exports Activities of Papua New Guinea
Papua New Guinea’s total exports amount to roughly $13-15 billion, with exports accounting for around 45% of its GDP. This high percentage underscores the crucial importance of export activities, led by liquefied natural gas and gold, to the country’s economy. (As of 2024, source: CIA World Factbook)Papua New Guinea’s export activities primarily focus on natural resources such as natural gas, gold, palm oil, crude petroleum, and copper ore. The country’s main export partners are Japan, China, Australia, South Korea, and Taiwan, with Japan and China being the top two partners accounting for 26% and 22% of exports, respectively.Papua New Guinea economy challenges in 2024
Papua New Guinea faces challenges in 2024 with a slow post-pandemic recovery, an increasingly impoverished citizenry, and sustainable inflation. The lower middle-income Pacific island economy relies on natural resources but struggles with economic disparities and social issues.Sources
- World Bank Data
- IMF Data Mapper
- CIA World Factbook: Papua New Guinea
- UN Comtrade Plus: Trade Flow
- PNGX (PNG National Stock Exchange)
- SIPRI Military Expenditure Database
Last updated: June 19, 2026
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