Papua New Guinea Economy - 1986

GEOGRAPHICAL NAMES 

GNP: $2 2 billion (1984), $660 per capita; real growth (1984) 2.2% est.; 8.5% inflation rate (1985 est.)

Natural resources: gold, copper, silver, gas

Agriculture: main crops—coffee, cocoa, coconuts, timber, tea

Major industries: sawmilling and timber processing, copper mining (Bougainville), fish canning

Electric power. 750,000 kW capacity (1985); 1.7 billion kWh produced (1985), 511 kWh per capita

Exports: $840 million (f.o.b., 1983); gold ($206 million), copper ($149 million), coffee ($123 million), palm oil ($84 million), logs ($78 million), cocoa ($74 million), copra ($54 million), coconut oil ($43 million), tea ($17 million)

Imports: $906 million (f.o.b., 1983); machinery and equipment ($259 million), fuels and lubricants ($186 million), food and live animals ($50 million), chemicals ($71 million), other manufactured ($67 million)

Major trade partners: Australia, UK, Japan

Aid: economic—Australia, commitments (1970-83) $4.0 billion; US, including Ex-Im (FY70-84), $219 million; other Western countries, ODA and OOF bilateral commit ments (1980-84), $6.0 billion

Budget: (1984) total revenue $518 million— tax revenue $441 million, non-tax $77 mil lion; total expenditures—$698 million, capital $165 million

Monetary conversion rate. 4009 kina= US$1 (February 1984)

Fiscal year: calendar year

NOTE: The information regarding Papua New Guinea on this page is re-published from the 1986 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Papua New Guinea 1986 information contained here. All suggestions for corrections of any errors about Papua New Guinea 1986 should be addressed to the CIA or the source cited on each page.