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Economy, Finance and Trade

copper ore, forestry products, cocoa beans, Bank of Papua New Guinea, unit of currency

The unit of currency in Papua New Guinea is the kina, which is divided into 100 toea (2.78 kina equal U.S.$1; 2000 average). The Bank of Papua New Guinea is the central bank. Exports in 2000 were $2 billion, and imports were $1.3 billion. Like most developing countries, the majority of Papua New Guinea’s export earnings were derived from primary commodities—agricultural, fishing, mining, and forestry products. The principal exports were copper ore and concentrates, coffee, timber, cocoa beans, and palm oil; the principal imports were machinery and transport equipment, other manufactured goods, food, and chemicals and petroleum products. The leading purchasers of exports are Australia, Japan, Germany, the United Kingdom, South Korea, and the United States; chief sources of imports are Australia, the United States, Singapore, Japan, and the United Kingdom.



Article key phrases:

copper ore, forestry products, cocoa beans, Bank of Papua New Guinea, unit of currency, manufactured goods, palm oil, central bank, transport equipment, petroleum products, South Korea, developing countries, timber, concentrates, fishing, coffee, Japan, chemicals, mining, Germany, Australia, Singapore, machinery, United States, food, United Kingdom

 
 

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