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Solomon Islands Economy 2017
https://theodora.com/world_fact_book_2017/solomon_islands/solomon_islands_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Solomon Islands Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

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 to restore law and order and economic stability have led to modest growth as the economy rebuilds.

GDP (purchasing power parity):
$1.198 billion (2016 est.) $1.163 billion (2015 est.) $1.127 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 203
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.218 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3% (2016 est.) 3.3% (2015 est.) 2% (2014 est.)
country comparison to the world: 95
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$2,000 (2016 est.) $2,000 (2015 est.) $2,000 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 205
[see also: GDP - per capita country ranks ]

Gross national saving:
18.7% of GDP (2016 est.) 17.1% of GDP (2015 est.) 14.9% of GDP (2014 est.)
country comparison to the world: 93
[see also: Gross national saving country ranks ]

GDP - composition, by sector of origin:
agriculture: 52.8%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 39.2% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cocoa, coconuts, palm kernels, rice, fruit; cattle, pigs; fish; timber

Industries:
fish (tuna), mining, timber

Industrial production growth rate:
3.2% (2016 est.)
country comparison to the world: 75
[see also: Industrial production growth rate country ranks ]

Labor force:
202,500 (2007 est.)
country comparison to the world: 169
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 75%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 5%
[see also: Labor force - by occupation - industry country ranks ]
services: 20% (2000 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $421.6 million
[see also: Budget revenues country ranks ]
expenditures: $458.8 million (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
34.6% of GDP (2016 est.)
country comparison to the world: 58
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.1% of GDP (2016 est.)
country comparison to the world: 111
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.4% (2016 est.) -0.6% (2015 est.)
country comparison to the world: 123
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
10.1% (31 December 2016 est.) 10.48% (31 December 2015 est.)
country comparison to the world: 81
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$445.1 million (31 December 2016 est.) $405.7 million (31 December 2015 est.)
country comparison to the world: 169
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$459.6 million (31 December 2016 est.) $427.4 million (31 December 2015 est.)
country comparison to the world: 185
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$98.3 million (31 December 2016 est.) $84.69 million (31 December 2015 est.)
country comparison to the world: 183
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$54 million (2016 est.) -$30 million (2015 est.)
country comparison to the world: 64
[see also: Current account balance country ranks ]

Exports:
$419.9 million (2015 est.) $419.9 million (2015 est.)
country comparison to the world: 176
[see also: Exports country ranks ]

Exports - commodities:
timber, fish, copra, palm oil, cocoa

Exports - partners:
China 61.7%, India 5.9%, Italy 5.9% (2015)

Imports:
$425.7 million (2015 est.) $425.7 million (2015 est.)
country comparison to the world: 195
[see also: Imports country ranks ]

Imports - commodities:
food, plant and equipment, manufactured goods, fuels, chemicals

Imports - 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)

Debt - external:
$491.5 million (31 December 2013 est.) $187.3 million (31 December 2014 est.)
country comparison to the world: 179
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$545.6 million (31 December 2016 est.) $522.1 million (31 December 2015 est.)
country comparison to the world: 115
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$50.1 million (31 December 2016 est.) $50.1 million (31 December 2015 est.)
country comparison to the world: 102
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Solomon Islands dollars (SBD) per US dollar - 8.064 (2016 est.) 7.9147 (2015 est.) 7.9147 (2014 est.) 7.3754 (2013 est.) 7.36 (2012 est.)


NOTE: The information regarding Solomon Islands on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Solomon Islands Economy 2017 information contained here. All suggestions for corrections of any errors about Solomon Islands Economy 2017 should be addressed to the CIA.




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