The manufacturing industry in Papua New Guinea is expected to experience a slight growth in 2014.
This is revealed by Papua New Guinea 2014 Budget Alert, a review done by experts from Deloitte Touche Tohmatsu.
“This growth reflects a moderation in domestic demand due to the slowdown of the PNG LNG project construction activities and lower commodity prices.
“The sector is expected to grow slightly in 2014 with the sector reverting back to trend growth in 2014” the report states.
In 2013, the industry saw a 3.5 percent growth.
The manufacturing industry in PNG is dominated by industries processing natural resources (agricultural and non-renewables) to finished products such as canned fish, furniture, biofuel, refined palm oil, canned meat, plywood and veneer.
PNG’s manufacturing is highly concentrated in Port Moresby and Lae and to a lesser extent Madang with these three centres containing about 70% of the manufacturing sector.