Pacific Economic Monitor
Pacific growth softening. Economic growth i n the Pacific moderated t o
7.3 % i n 2012, from a post - c risi s hi gh of 8.3% recorde d i n the previ ous
year. This regional trend was driven primarily by the performance of the
region’s larger, natural resource–extracting , economies. Growth slowed
slightly, but remained high in Papua New Guinea (PNG ) and Timor - Leste.
Economi c growth i n the Pacificislands also moderated t o 2. 5% i n 20 1 2,
from 2.8% a year ago. Growth in Solomon Islands moderated from
double - digit rates as log revenues leveled off . Economic stimul us from
infrastructure projects was lower in Kiribati, the Federated States of
Micronesia, Samoa, and Tonga.