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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, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP on the Solomon Islands, on the other hand, reached USD 2,305 per capita, or 1.63 billion USD for 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 purchasing power parity into account, then the Solomon Islands rank 167th in the list of the richest countries.

Inflation on the Solomon Islands in 2021 was around -0.12%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 5.9 percent lower.
The index for perceived corruption in the public sector is 43, which is below average by global standards.


Back to overview: Solomon Islands

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic were not insignificant on the Solomon Islands 2020. Overall, gross domestic product in 2020 fell from 1.62 billion US dollars to 1.54 billion US dollars. With a drop of 5.1 percent, the economy on the Solomon Islands suffered more significant losses than other countries. 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 percent previously to 3.0 percent now.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Solomon Islands
Total
Solomon Islands
per capita
EU
Total
EU
per capita
GDP1.63 bn USD2,304.84 USD17.177 tn USD33,384.92 USD
Gross national product1.64 bn USD2,318.22 USD16.895 tn USD32,835.37 USD


Development of gross domestic product in millions of USD 1971 - 2021



Imports and Exports 2021

 Solomon Islands
Total
Solomon Islands
per capita
EU
Total
EU
per capita
Imports556.26 m USD785.84 USD8.916 tn USD17,329.02 USD
Exports428.83 m USD605.82 USD9.554 tn USD18,569.19 USD


Development of imports and exports in millions of USD 1975 - 2021

Exports
Imports



Solomon Islands: AirportsLargest airports and airlines on the Solomon IslandsThe 22 biggest airports and on the Solomon Islands with further information and data with further information on airlines and destinations
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.
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