Fiji is overshadowing PNG in regional exports according to data released in ‘The Report: Papua New Guinea 2016.’
The report states that historically, PNG is the largest exporter in the region, and by some distance, selling six times more goods than the next largest exporter, Fiji.
However, The Pacific Island Trade Report 2010-2014 revealed that intra-regional trade totaled US$329.8 million (K986.244 million) with Fiji being the only economy to have developed a Pacific Island market for its goods, which account for 96% of intra-regional exports.
In 2014, PNG imports from intra-regional trade were more than four times higher than regional exports.
The 2016 Report on PNG revealed that exports to other Pacific Island nations in 2014 reached only K16.148 million (US$5.4 million) while imports were valued at K71.471 million (US$23.9 million).
Overall however, PNG places seventh while Tonga, Tuvalu and Kiribati topped the list of regional importers.
Experts have called for the development of infrastructure in rural areas and to get small holders in the agricultural sector involved in mass production.
The Oxford Business Group CEO, Andrew Jeffreys, says there are diverse investment opportunities in PNG, mainly in the agricultural sector which could boost PNG to become a major exporter.