• Economic News Updates

    Economic News Updates

    For each market we cover, OBG produces regular economic research available on our website, by email subscription and via RSS feed. Free to access, our Economic Updates are targeted at those looking for regular comment on key sector developments.

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Economic Update | Papua New Guinea steps on the gas

10 Dec 2014
PNG econ

A surge in liquefied natural gas (LNG) exports is expected to nearly treble the pace of economic growth in Papua New Guinea in 2015 putting the South Pacific island nation at the top of the league of fast-growing economies and helping it bridge a widening budget deficit. 

Economic Update | Papua New Guinea to tighten net on illegal fishing

1 Oct 2014

Efforts are being stepped up to ensure the sustainability of Papua New Guinea’s (PNG) fisheries industry as illegal fishing threatens its long-term future. At the same time, the country is seeking to raise quality control to encourage more investment in onshore processing.

Economic Update | Papua New Guinea hopes for connectivity boost

25 Jul 2014

The information and communications technology (ICT) sector in Papua New Guinea (PNG) is fast expanding, with new funding paving the way for industry players to meet rising demand from businesses while moving towards connecting rural communities.

Economic Update | Papua New Guinea looks to life after building boom

24 Jun 2014

The government in Papua New Guinea (PNG) has pledged to upgrade its infrastructure after years of underinvestment, a move which will also help plug the construction gap as the country’s mega project, the $19bn Liquefied Natural Gas (LNG) plant, is now completed and the related real-estate boom starts to cool.

Economic Update | PNG extends financial services to rural areas

30 May 2014

The cash-based economy of PNG is currently undergoing a rapid change, with increasing revenues from large liquefied natural gas projects the main driver of the banking sector’s growth. In 2013, the number of active bank accounts in PNG amounted to only 1.5m, compared to a population of 7m. However, with new money flowing into the country, the banked population is expected to continue to grow throughout 2014.

Economic Update | Papua New Guinea and Australia set to further strengthen ties

18 Apr 2014

Australian Prime Minister Tony Abbott flew into Port Moresby in late March accompanied by an A-list of his country’s business leaders, with trade and investment on their minds. And, after a loaded and complicated agenda, he left three days later with an economic treaty and the basis of potentially the most productive relationship Australia and Papua New Guinea have enjoyed in years.