Papua New Guinea Trade Market 2026: Strategic Review & Growth Forecast

PNG's export value peaked in 2022 at $10.9 billion before declining to $9.9 billion in 2023. The data shows fluctuations over the four-year period, with 2021 recording the lowest value at $9.6 billion. This indicates a volatile but significant export sector likely influenced by global commodity price shifts.

PNG has demonstrated a consistent upward trend in imports, rising from $4.05 billion in 2020 to $6.11 billion in 2023. This steady year-on-year growth suggests increasing domestic consumption and a growing reliance on imported goods and services to support the local economy and infrastructure development.

In 2023, LNG was the primary export driver at $3.64 billion. It is followed by base metals and gold ($1.56B) and crude palm oil ($753M). The export profile is heavily concentrated in energy and mineral resources, which constitute the bulk of the nation's foreign revenue.

Petroleum ether is the leading import, valued at $979 million in 2023. Other significant imports include rice ($224M) and vessels ($125M). The diversity in imports, ranging from fuel to food and specialized machinery like track rollers, highlights PNG's dependence on external markets for energy and essential commodities.

Australia is the dominant trade partner, accounting for 35.26% of total trade, followed by China (27.15%) and Japan (20.17%). While PNG maintains a significant trade surplus with Japan, it has a more balanced trade relationship with Australia, its largest overall partner by value.