PNG's LNG and gold exports bolster economy in early 2026

Papua New Guinea's economy continues to receive substantial support from its LNG and gold exports, according to Westpac's latest economic update. In the first half of 2026, LNG export volumes reached approximately 3.73 million tonnes by May, up from 3.41 million tonnes in the same period of 2025. This increase is attributed to high utilization rates and stable upstream production.

LNG export values to Japan totaled K3.33 billion by April 2026, a slight increase from K3.29 billion in the prior year. Exports to China also saw considerable growth, reaching 685 million kilograms by April, a 23 percent jump from about 555 million kilograms in 2025.

Gold exports to Australia experienced a significant boost, reaching K6.51 billion by April 2026, marking a 30 percent rise from K5.02 billion in the same period of 2025. Westpac attributes this surge to increased export volumes and stronger gold prices earlier in the year, further supported by global economic uncertainty.

The report highlights that PNG's mining sector is outperforming expectations, with key operators delivering strong results. Continued exploration and capacity expansion at major sites also contribute to the sector's positive outlook, underpinning the economy's reliance on these vital export commodities.