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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.

Agriculture Products

oil palm fruit, sweet potatoes, coconuts, taro, yams, fruit, pulses, vegetables, cocoa, cassava

Industries

fish (tuna), mining, timber

Industrial Production Growth Rate

3.6% (2017 est.)

Labor Force

202,500 (2007 est.)

Labor Force by Occupation

Agriculture: 75%

Industry: 5%

Services: 20% (2000 est.)

Unemployment Rate

Youth Unemployment Rate

Total: 1.3%

Male: 1%

Female: 1.6% (2013)

Population Below Poverty Line

12.7% (2012 est.)

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.)

Budget Surplus

-2.9% (of GDP) (2017 est.)

Public Debt

0: 9.4% of GDP (2017 est.)

1: 7.9% of GDP (2016 est.)

Commercial Bank Prime Lending Rate

Stock of Narrow Money

Stock of Broad Money

Stock of Domestic Credit

Market Value of Publicly Traded Shares

Reserves of Foreign Exchange and Gold

0: $0 (31 December 2017 est.)

1: $421 million (31 December 2016 est.)

Debt External

0: $757 million (31 December 2017 est.)

1: $643 million (31 December 2016 est.)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

0: Solomon Islands dollars (SBD) per US dollar -

1: 8.06126 (2020 est.)

2: 8.10373 (2019 est.)

3: 8.01282 (2018 est.)

4: 7.9147 (2014 est.)

5: 7.3754 (2013 est.)

Year	2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

Taxes and Other Revenues

41% (of GDP) (2017 est.)

Fiscal Year

calendar year

Real GDP

$1.71 billion
1
$1.78 billion
2
$1.76 billion

GDP Purchasing Power Parity

GDP Real Growth Rate

GDP Per Capital

$2,500 (2020 est.)
1
$2,700 (2019 est.)
2
$2,700 (2018 est.)
note
data are in 2017 dollars

Inflation Rate

0.5% (2017 est.)
1
0.5% (2016 est.)

Credit Ratings

Moody's rating: B3 (2015)

Gross National Saving

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 of Origin

Agriculture
34.3% (2017 est.)
Industry
7.6% (2017 est.)
Services
58.1% (2017 est.)

Inflation Rate Consumer Prices

Current Account Balance

0
-$54 million (2017
1
-$49 million (2016

Exports

$430 million 2020 est. note
data are in
$590 million 2019 est. note
data are in
$680 million 2018 est. note
data are in

Exports Partners

China
65%
Italy
9%
India
6%

Exports Commodities

Lumber, fish, aluminum, palm oil, cocoa beans (2019)

Imports

$560 million 2020 est. note
data are in
$750 million 2019 est. note
data are in
$750 million 2018 est. note
data are in

Imports Partners

China
24%
Australia
13%
South
Korea
Singapore
12%
Malaysia
10%

Imports Commodities

Refined petroleum, fish, insulated wiring, broadcasting equipment, excavation machinery (2019)

Cambodia