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Indicators of economy on the Solomon Islands

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP on the Solomon Islands reached 2.251 US dollars per inhabitant, or 1.55 bn US Dollar in the whole country. The Solomon Islands is currently at number 187 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant taking into account the purchasing power parity, then the Solomon Islands is in the list of the world's richest countries in place 168.

Inflation on the Solomon Islands was in 2020 at around 2.96%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 1.4% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Solomon Islands

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product on the Solomon Islands in 2020 decreased moderatly from 1.57 billion US Dollar to 1.55 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 1.5% is still comparatively good this year. Numerous countries suffered more substantial losses. The tourism sector alone slumped by around 91 percent. The unemployment rate rose from 0.8 to 0.9 percent. The consumer inflation rate has risen from 1.6% previously to 3.0% now.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Solomon Islands
Total
Solomon Islands
per capita
EU
Total
EU
per capita
GDP1.55 bn USD2,250.60 USD15,291.93 tn USD29,692.11 USD
Gross national product1.58 bn USD2,299.47 USD15,330.84 tn USD29,767.66 USD


Development of gross domestic product in million US Dollar 1971 - 2020



Im- and Exports 2020

 Solomon Islands
Total
Solomon Islands
per capita
EU
Total
EU
per capita
Imports556.26 m USD809.84 USD7,340.01 bn USD14,251.98 USD
Exports428.83 m USD624.32 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in million US dollars 1975 - 2020

Exports
Imports



Solomon Islands: AirportsLargest airports and airlines on the Solomon IslandsThe 15 biggest airports and Solomon on the Solomon Islands with further information and data
Pariah StatesList of the 11 current Pariah States11 countries, which suffer from the sanctions of the international community because of their mostly autocratic government.
Infected and deaths by the corona virus (COVID 19)Spread of the Corona virus Covid19 (SARS-CoV-2)Worldwide development of the number of cases and deaths due to the corona virus.