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The Solomon Islands GDP and Economic Data

Country Report 2017 - Includes The Solomon Islands real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The Solomon Islands economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of The Solomon Islands best banks and safest banks are also available.

 
 
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Central bank

Central Bank of Solomon Islands

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International Reserves

USD 0.5 billion (2015)

International Monetary Fund (IMF), data retrieved January 2017

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Gross Domestic Product - GDP

USD 1.3 billion (2017, estimate)

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GDP (Purchasing Power Parity)

Intl$ 1.3 billion (2017, estimate)

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Real GDP growth
2006 2007 2008 2009 2010 2011 2012
4% 6.4% 7.1% -4.7% 6.9% 13% 4.7%
2013 2014 2015* 2016* 2017*    
3% 2% 3.3% 3% 3.3%    

*Estimate

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GDP per capita - current prices

USD 2,075.4 (2017, estimate)

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GDP per capita - PPP

Intl$ 2,059.9 (2017, estimate)

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GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
0% 0% 0% 0% 0.001%

*Estimate

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GDP - composition by sector
  • agriculture: 52.8% 
  • industry: 8% 
  • services: 39.2%

(2016 estimate)

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Gross domestic expenditure on R&D; (% of GDP)

N/A

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Inflation
2013 2014 2015 2016* 2017*
5.4% 5.2% 0.9% 2.4% 4.0%

*Estimate

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Unemployment rate
2013 2014 2015 2016 2017
N/A N/A N/A N/A N/A

*Estimate

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Household saving rates

N/A

 

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Public debt (General government gross debt as a % of GDP)
2013 2014 2015* 2016* 2017*
15.5% 13.3% 10.4% 8.8% 10%

*Estimate

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Public deficit (General government net lending/borrowing as a % of GDP)
2013 2014 2015* 2016* 2017*
4.2% 1.7% -0.3% -1.3% -0.6%

*Estimate   

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Government bond ratings

Standard & Poor's: N/A

Moody's: B3

Standard & Poor's / Moody's (Updated January 2017)

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Market value of publicly traded shares
2013 2014 2015
N/A N/A N/A
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Largest companies

N/A

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Current account balance

USD -0.1 billion (2017 estimate)

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Current account balance by percentage of GDP

-7.7% (2017 estimate)

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Exports as percent of GDP (Exports of goods and services)

46.1% (2015)

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Shares in world total merchandising export

0.002% (2015)

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Shares in world total commercial services export

0.002% (2015)

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Total exports

USD 419.9 million (2015 estimate)

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Export commodities

Timber, fish, copra, palm oil, cocoa

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Total imports

USD 0.4 billion (2015 estimate)

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Import commodities

Food, plant and equipment, manufactured goods, fuels, chemicals

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Exports - major partners

China 61.7%, India 5.9%, Italy 5.9% (2015)

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Imports - major partners

Australia 24.7%, China 18.4%, Malaysia 6.3%, Singapore 5.8%, Fiji 4.7%, NZ 4.6%, Papua New Guinea 4.6% (2015)

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FDI inflows
2013 2014 2015
USD 53 million USD 21 million USD 21 million
Source
FDI outflows
2013 2014 2015
USD 3.0 million USD 0.7 million USD 4.8 million
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Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
N/A N/A N/A N/A
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Cross-border M&A deals worth over $3 billion completed in 2014

N/A

(for a monthly update on M&A; click here )

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Cross-border M&A deals worth over $3 billion completed in 2015

N/A

(for a monthly update on M&A; click here )

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Best countries for doing business World Bank/IFC Doing Business Project

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 104 out of 190 countries (2017)

Subcategories:

Starting a business: 97 out of 190 countries

Enforcing Contracts: 153 out of 190 countries

Registering Property: 152 out of 190 countries

Getting Credit: 82 out of 190 countries

Protecting Minority Investors: 106 out of 190 countries

Trading Across Borders: 151 out of 190 countries

Paying Taxes: 39 out of 190 countries

Dealing with Construction Permits: 63 out of 190 countries

Getting Electricity: 80 out of 190 countries

Resolving Insolvency: 138 out of 190 countries

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Global competitiveness ranking

N/A

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Index of Economic Freedom

Ranking: 161 / Score: 46.98 (Repressed) (2016)

(100=totally free 0=totally repressed)

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Time zone

UTC+11

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Total area

28,896 sq km

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Capital

Honiara

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Currency

Solomon Islands dollars (SBD)

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Government type

Parliamentary democracy (National Parliament) under a constitutional monarchy; a Commonwealth realm

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Languages

Melanesian pidgin (in much of the country is lingua franca), English (official but spoken by only 1%-2% of the population), 120 indigenous languages

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Religions

Protestant 73.4% (Church of Melanesia 31.9%, South Sea Evangelical 17.1%, Seventh Day Adventist 11.7%, United Church 10.1%, Christian Fellowship Church 2.5%), Roman Catholic 19.6%, other Christian 2.9%, other 4%, none 0.03%, unspecified 0.1% (2009 est.)

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Total population
1990 2000 2010 2016* 2021*
0.321 million 0.412 million 0.526 million 0.601 million 0.67 million

*Estimate

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Urban population as % of total population
1960 1980 2000 2013
6% 11% 16% 22%
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Population median age

22.2 years (2016 estimate)

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Population growth rate

1.98% (2016 estimate)

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Life expectancy

75.3 years (2016 estimate)

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Literacy

Total population: 84.1%
Male: 88.9%
Female: 79.2% (2009 est.)

(age 15 and over can read and write)

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% of population living on less than $3.10 a day

N/A

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Inequality of wealth distribution (Gini index)

N/A

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Freedom House rating

Political Rights: 3
Civil Liberties: 2 (2017)                         

(1 represents the most free, 7 the least free rating)

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Total telephone subscribers as % of population

Fixed 1.27%   Mobile 72.66% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)

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Internet users as % of total population

10% (2015)

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Mercer Cost of living index

N/A

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CO2 emissions

0.4 (2013)

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