International Merchandise and Trade

Overall Performance

Performance from 2012 -2018

Papua New Guinea’s (PNG) International Merchandise Trade Statistics (IMTS) from 2012 to 2018 reveal that since 2014 international merchandise trade has generated trade surpluses. This turnaround is due to the commercialization of PNG’s gas resources; the Liquefied Natural Gas (LNG) project that commenced in mid-2014. The project led to a strong growth in exports whilst imports remained somewhat steady except in 2014 when imports of chemicals and allied products increased considerably.

Balance of Trade

Total exports increased from K10.3 billion in 2012 to K26.0 billion in 2018 while imports decreased from K14.8 billion in 2012 to K11.4 billion in 2018. The 151.3% increase in exports in 2018 coupled with a 22.9% decrease in imports led to a 425.1% increase in the balance of trade thus turning the trade deficit of 4.5 billion Kina in 2012 into a surplus of 14.6 billion Kina in 2018.

Total exports decreased from K28.9 billion in 2017 to K26.0 billion in 2018 while imports decreased from K13.9 billion in 2017 to K11.4 billion in 2018. The 10.1% decrease in exports in 2018 combined with a higher decrease of 17.8% in imports led to a 3.0% decrease in the balance of trade in 2018.

Balance of Trade – Percentage Change

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