| Economy - overview | The bulk of the population depends on agriculture, fishing, and forestry for at least part of its livelihood. Most manufactured goods and petroleum products must be imported. The islands are rich in undeveloped mineral resources such as lead, zinc, nickel, and gold. Prior to the arrival of The Regional Assistance Mission to the Solomon Islands (RAMSI), severe ethnic violence, the closure of key businesses, and an empty government treasury culminated in economic collapse. RAMSI's efforts, which concluded in Jun 2017, to restore law and order and economic stability have led to modest growth as the economy rebuilds. |
| GDP (purchasing power parity) | $1.783 billion (2019 est.) $1.762 billion (2018 est.) $1.695 billion (2017 est.) note: data are in 2017 dollars |
| GDP (official exchange rate) | $1.298 billion (2017 est.) |
| GDP - real growth rate | 3.5% (2017 est.) 3.5% (2016 est.) 2.5% (2015 est.) |
| GDP - per capita (PPP) | $2,663 (2019 est.) $2,700 (2018 est.) $2,666 (2017 est.) note: data are in 2017 dollars |
| Gross national saving | 13.1% of GDP (2017 est.) 15.2% of GDP (2016 est.) 14.5% of GDP (2015 est.) |
| GDP - composition, by end use | household consumption: NA government consumption: NA investment in fixed capital: NA investment in inventories: NA exports of goods and services: 25.8% (2011 est.) imports of goods and services: -49.6% (2011 est.) |
| GDP - composition by sector | agriculture: 34.3% (2017 est.) industry: 7.6% (2017 est.) services: 58.1% (2017 est.) |
| Ease of Doing Business Index scores | Overall score: 55.3 (2020) Starting a Business score: 85.6 (2020) Trading score: 53.4 (2020) Enforcement score: 43.5 (2020) |
| Population below poverty line | 12.7% (2012 est.) |
| Labor force | 202,500 (2007 est.) |
| Labor force - by occupation | agriculture: 75% industry: 5% services: 20% (2000 est.) |
| Unemployment rate | NA |
| Unemployment, youth ages 15-24 | total: 1.3% male: 1% female: 1.6% (2013) |
| Household income or consumption by percentage share | lowest 10%: NA highest 10%: NA |
| Distribution of family income - Gini index | 37.1 (2013 est.) |
| Budget | revenues: 532.5 million (2017 est.) expenditures: 570.5 million (2017 est.) |
| Taxes and other revenues | 41% (of GDP) (2017 est.) |
| Budget surplus (+) or deficit (-) | -2.9% (of GDP) (2017 est.) |
| Public debt | 9.4% of GDP (2017 est.) 7.9% of GDP (2016 est.) |
| Inflation rate (consumer prices) | 0.5% (2017 est.) 0.5% (2016 est.) |
| Credit ratings | Moody's rating: B3 (2015) |
| Agriculture - products | oil palm fruit, sweet potatoes, coconuts, taro, yams, fruit, pulses nes, vegetables, cocoa, cassava |
| Industries | fish (tuna), mining, timber |
| Industrial production growth rate | 3.6% (2017 est.) |
| Current Account Balance | -$54 million (2017 est.) -$49 million (2016 est.) |
| Exports | $468.6 million (2017 est.) $419.9 million (2016 est.) |
| Exports - commodities | lumber, fish, aluminum, palm oil, cocoa beans (2019) |
| Exports - partners | China 65%, Italy 9%, India 6% (2019) |
| Imports | $462.1 million (2017 est.) $419.3 million (2016 est.) |
| Imports - commodities | refined petroleum, fish, insulated wiring, broadcasting equipment, excavation machinery (2019) |
| Imports - partners | China 24%, Australia 13%, South Korea 12%, Singapore 12%, Malaysia 10% (2019) |
| Reserves of foreign exchange and gold | $0 (31 December 2017 est.) $421 million (31 December 2016 est.) |
| Debt - external | $757 million (31 December 2017 est.) $643 million (31 December 2016 est.) |
| Exchange rates | Solomon Islands dollars (SBD) per US dollar - 8.06126 (2020 est.) 8.10373 (2019 est.) 8.01282 (2018 est.) 7.9147 (2014 est.) 7.3754 (2013 est.) |
| Fiscal year | calendar year |
Source: CIA World Factbook
This page was last updated on September 18, 2021
