Where to? PNG has a dual economy. The economy generally can be separated into subsistence and market sectors, although the distinction is blurred by small holder cash cropping of coffee, cocoa, and copra. About 80% of the country's population relies primarily on the subsistence economy. The export economy of Papua New Guinea is dominated by foreign investors in the agricultural, forestry, and fishing sector and the minerals and energy extraction sector. The agricultural, forestry, and fishing sector accounts for much of the labour force of PNG while the minerals and energy extraction sector is responsible for most of the export earnings. PNG’s export economy is dominated by minerals (gold and copper) and oil accounting for 77 % of total exports in 2006. However, the contribution of agricultural exports is significant at around 17% with the remainder from forestry (5%) and marine resources (1%). 20Annual
Mean Value of Major Exports 2004-2006.
Source. Bank of PNG.
Agriculture currently accounts for 25% of GDP and supports more than 80% of the population. Most agriculture is subsistence, while cash crops are exported. The main crops by value are coffee, palm oil, cocoa, copra, tea, rubber, and sugar. Fish exports are confined primarily to shrimp, although fishing boats of other nations catch tuna in Papua New Guinea waters under licence. 21Annual
Mean Value of Main Agricultural Exports 2004-2006. Source. Bank of PNG.
Australia is the largest trading partner followed by Japan then the United States; Singapore; China; Great Britain; and New Zealand.
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P293 Bourke R M & Harwood T (eds) 2009 M Food and Agriculture in PNG. ISBN 978192536601. P293 Bourke R M & Harwood T (eds) 2009 M Food and Agriculture in PNG. ISBN 978192536601.
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