Papua New Guinea
Papua New Guinea has a lot of potential-it is rich in natural resources, but the use of these has been hampered by rugged terrain and lack of infrastructure.
Major Natural Resources: Gold, Copper, Silver, Oil, Natural Gas, Timber,
Oil Production (Per Day): 38,100 bbl/day (2008 est.)
Natural Gas Production: 100 million cu m (2008 est.)
Mineral deposits (copper, gold, and oil) account for about 2/3 of the yearly export earnings.
American oil companies hope to begin the commercialization of PNG’s nearly 227 billion cubic meters of natural gas reserves. This project has the potential to double the GDP of Papua New Guinea. Also, Papua New Guinea’s labor force by occupation consists of 85% agriculture, with industry and services at a bare minimum. Major industry includes copra crushing, processing of palm oil, producing plywood from timber, mining gold and silver, petroleum refinement, and tourism.
Taiwan has small deposits of coal, natural gas, limestone, marble, and asbestos. All resources are nearly exhausted.
Foreign trade is Taiwan’s economic engine, constituting over 80% of the GNP. Taiwan is heavily industrialized. It is a worldwide leader in hi-tech electronics, textiles, machinery, plastics, and steel. It exports $254.9 billion annually and imports slightly less. Taiwan lacks petroleum and natural gas deposits so it mostly imports its fuel, but it does have significant coal deposits, though it is virtually depleted. Taiwan imports a large amount of raw food materials, and has a large food processing industry.It has a shrinking though still significant agricultural sector, being self-sufficient in many products such as rice, pork, and fish. The country is an island, so rain is abundant for fresh water.