The economic architecture of Solomon Islands is substantial, anchored by a Gross Domestic Product (GDP) of approximately $1.63B
2023
. This places it as the 176th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $2.04K
2023
, while its GDP adjusted for Purchasing Power Parity (PPP) is estimated at $2.25B, offering a clearer picture of the population's domestic purchasing power. The economy demonstrates solid, consistent growth, expanding at a healthy rate of 3.1%
2023
, while managing moderate inflation, with a CPI of 5.9%.
2023
On the global stage, Solomon Islands's trade and financial dynamics reveal a complex interplay of international and domestic factors. The nation's economic activity is heavily reliant on foreign goods, running a considerable trade deficit with imports at 51.7% of GDP and exports at 26.3%
2022
. The investment climate attracts significant Foreign Direct Investment (FDI), with inflows constituting 4.83% of the economy
2023
. This performance positions the country 40th globally out of 186 nations, confirming its status as a competitive destination for foreign capital. Furthermore, personal remittances from its diaspora are a vital component of the economy, amounting to a substantial $84.55M annually
2023
. Fiscal capacity is adequate, with tax collections representing 20.7% of GDP, supporting core state functions.
2022
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $2,100
2023
, ranking the nation 148th out of 190. This figure provides a comprehensive measure of the average income per person, reflecting the nation's overall economic well-being. The labor market demonstrates considerable strength, with a low unemployment rate of 1.5%, suggesting conditions close to full employment.
2024
A key feature of the workforce is its concentration in the services sector, which accounts for 51.8% of total employment
2023
. Despite its economic standing, poverty remains a salient issue, with 12.7% of the population living below the national poverty line
2012
. The nation exhibits a moderate degree of income inequality, with a Gini index of 37.1.
2012
In the environmental and energy sectors, the nation's policies and outcomes reflect its developmental priorities. Energy consumption per capita stands at 127.96 kg of oil equivalent
2007
, a metric that often correlates with industrial activity and living standards. The country is at the forefront of the global green transition, with renewable sources constituting a remarkable 50.1% of total final energy consumption
2022
. This commitment places it 142nd among 190 countries, highlighting its relative progress in decarbonization. Total greenhouse gas emissions were last recorded at 720.8 tonnes of CO2 equivalent
2023
, a key factor in its national climate strategy and international obligations.

Key Economic Insights

Macroeconomic Health

Balancing growth, inflation, and employment remains the core challenge for economic stewardship.

Trade & Investment Profile

The orientation towards global trade and foreign investment is a defining feature of the economic landscape.

Social Equity & Distribution

Ensuring equitable distribution of economic gains is fundamental for long-term social and political stability.

Energy & Sustainability

A global leader in the green transition, the country leverages its strong commitment to renewable energy as a key economic and diplomatic advantage.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.