Solomon Islands: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Lower Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Data unavailable |
| Economic Trivia | The Solomon Islands are rich in undeveloped minerals, such as lead, zinc, and gold. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2018): China, Australia, and Singapore |
| Top Industries Source: CIA World Factbook | Fish (Tuna); Mining; Timber |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $1,922,286,531 (2022) |
| GDP Growth Rate (annual %) | -4.062% (2022) |
| GDP Per Capita, PPP (current international) | $2,654 (2022) |
GDP Country Rank 182/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 5.518% (2022) |
| External debt stocks, total (DOD, current US$) | $483,164,953 (2021) |
| Total tax rate (% of commercial profits) | 32% (2019) |
| Real Interest Rate (5 year average %) | 3.975% (2021) |
| Manufacturing, value added (% of GDP) | 9.681% (2020) |
| Current Account Balance (BoP, current US$) | ($218,533,833) (2022) |
Labor and Employment [1]
| Labor Force, Total | 368,842 (2022) |
| Employment in Agriculture (% of total employment) | 38.04% (2021) |
| Employment in Industry (% of total employment) | 10.866% (2021) |
| Employment in Services (% of total employment) | 51.094% (2021) |
| Unemployment Rate | 1.543% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $765,157,558 (2022) |
| Exports of goods and services (current US$) | $411,423,271 (2022) |
| Total Merchandise Trade (% of GDP) | 61.227% (2022) |
| FDI, net inflows (BoP, current US$) | $40,718,833 (2022) |
| Commercial Service Exports (current US$) | $60,896,929 (2022) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Solomon Islands’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.