Mining and Petroleum dominate PNG export revenues

Statistics from the Bank of Papua New Guinea has proven that the mining and petroleum sector is the largest export revenue earner for the country.

BPNG Deputy Governor Jeffery Yabom revealed last year, the mineral sector receipt earned K43.9 Billion, accounting 85 percent of export revenues.

Speaking today at the 2025 PNG Resources Week, he added that the non mineral sector contributes K7.8 billion which equates to 15 percent export revenue.

However, Illegal smuggling of gold out of the country is a concern for the Central Bank.

Mr Yabom raised concern saying the drastic statistics drop of alluvial gold exports is linked to illegal gold smuggling.

He said in 2021, alluvial gold exports generated K650 million and in 2022 dropped to K270 million.

Mr Yabom said BPNG only issues gold export licenses, and order security falls under the scope of the PNG Customs.

Meanwhile Yabom reiterates that since 1975, Papua New Guinea's export revenue basket, had and continues to rely heavily on the total export revenue.

He highlighted that one of the risks of revenue inflow from mineral exports is when mining and petroleum companies bank its revenues offshore.

The mineral sector according to BPNG, accounts to nearly 30 percent of the nation's gross domestic product or GDP.