Papua New Guinea’s (PNG) has been one of the…
Papua New Guinea’s (PNG) has been one of the fastest growing economies globally this century with average growth rates above 6%. This rapid growth has been driven primarily by the expansion of foreign investment within the natural gas sector and high prices for PNG’s central exports many of which are transported to rapidly growing Asian economies. This growth has built on a long history of natural resources being at the centre of the PNG economy with exports and employment dominated by mining, natural gas, logging and agriculture. While this rapid growth has delivered significant changes in PNG’s main urban areas and those communities benefiting directly by foreign investment, the country still faces significant challenges in meeting the objectives of Vision 2050 and in providing development opportunities for all while also maintaining its natural environment.
|Publisher||Climate Change and Development Authority in PNG|
|Modified||11 February 2022|
|Release Date||19 July 2021|
|Spatial / Geographical Coverage Location||Papua New Guinea|
|Relevant Countries||Papua New Guinea|