Solomon Islands/Economy

Economy of Solomon Islands

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

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GDP (USD)
$1.6B(2023)
GDP PPP (USD)
$2.2B(2023)
GDP per Capita (USD)
$2,042(2023)
GDP Growth (inflation-adjusted)
3.1%(2023)
Inflation (CPI Annual %)
5.9%(2023)

Trade & Finance

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Exports (as share of GDP)
26.3%(2022)
Imports (as share of GDP)
51.7%(2022)
FDI Inflows (as share of GDP)
4.8%(2023)
Remittance Inflow (USD)
$84.6M(2023)
Tax Revenue (as share of GDP)
20.7%(2022)

Labor & Income

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Unemployment Rate
1.5%(2024)
Employment in Services
51.8%(2023)
Poverty Rate
12.7%(2012)
GINI Index
37.1(2012)
GNI per Capita (USD)
$2,100(2023)

Energy & Environment

Coming Soon
Energy Use per Capita
128 kg oil eq.(2007)
Renewable Energy Consumption (%)
50.1%(2022)

Economic Snapshot Overview

A summary of key economic indicators for Solomon Islands

  • 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 in Purchasing Power Parity (PPP) terms is estimated at $2.25B, reflecting the population's domestic purchasing power. The economy demonstrates solid growth, expanding at a rate of 3.1%
    2023
    , while managing moderate inflation, with a CPI of 5.9%
    2023
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The nation runs a trade deficit, with exports at 26.3% of GDP and imports at 51.7%
    2022
    . Foreign Direct Investment (FDI) inflows are significant, constituting 4.83% of the economy
    2023
    . This performance positions the country 40th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $84.55M annually
    2023
    , highlighting the economic importance of its diaspora. Fiscal capacity is moderate, with tax revenue at 20.7% of GDP
    2022
    .
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $2,100
    2023
    . Globally, this ranks the nation 148th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is robust, with a low unemployment rate of 1.5%
    2024
    . The services sector is a primary driver of the labor market, accounting for 51.8% of total employment
    2023
    . Poverty remains a key issue, with 12.7% of the population living below the national poverty line
    2012
    . There is a moderate level of income inequality, with a Gini index of 37.1
    2012
    .
  • On the environment and energy front, energy consumption per capita is 127.96 kg of oil equivalent
    2007
    . The country is a leader in clean energy, with renewable sources making up 50.1% of total final energy consumption
    2022
    . Its commitment to clean energy places it 142nd among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

A strong commitment to renewable energy positions the country as a leader in the green transition, potentially creating new economic advantages.

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.