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Economy of Central African Republic vs Solomon Islands compared: GDP & Debt

Updated on by Georank team

The Central African Republic has a GDP of $2.75B compared to $1.76B for the Solomon Islands, ranking 171/197 and 182/197 by economy size, respectively.

The Central African Republic has $1.67B in government debt (58.3% of GDP), compared to $388M (23.7% of GDP) in the Solomon Islands.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Central African Republic
GDP, current $

GDP, constant 2015 $
Solomon Islands
GDP, current $

GDP, constant 2015 $
Year GDP
CAR Solomon Islands
Current $ Constant $ Current $ Constant $
1960 $112,155,598 $980,371,514 - -
1961 $123,134,583 $1,028,934,744 - -
1962 $124,482,774 $990,722,164 - -
1963 $129,379,124 $983,717,651 - -
1964 $142,025,079 $1,004,182,172 - -
1965 $150,574,795 $1,013,697,588 - -
1966 $157,930,018 $1,020,233,745 - -
1967 $163,820,514 $1,067,946,130 $25,203,524 -
1968 $191,767,442 $1,082,941,303 $28,084,253 -
1969 $188,039,210 $1,159,738,546 $28,606,411 -
1970 $189,106,529 $1,186,793,864 - -
1971 $201,450,800 $1,200,207,037 $50,056,883 -
1972 $230,317,883 $1,200,196,629 $40,606,712 -
1973 $271,183,082 $1,222,867,623 $55,272,109 -
1974 $281,398,706 $1,300,385,612 $84,539,332 -
1975 $378,660,016 $1,305,652,006 $74,620,320 -
1976 $451,152,461 $1,376,581,800 $83,100,834 -
1977 $507,298,148 $1,428,977,737 $93,145,283 -
1978 $610,578,632 $1,446,257,442 $111,027,427 -
1979 $700,764,748 $1,410,605,203 $151,276,496 -
1980 $797,048,199 $1,347,429,290 $182,852,107 $526,656,506
1981 $694,803,623 $1,326,618,708 $193,750,541 $517,192,386
1982 $748,312,391 $1,428,977,737 $192,902,019 $508,557,520
1983 $658,679,333 $1,312,851,667 $181,220,399 $528,343,417
1984 $637,820,670 $1,437,332,673 $181,570,474 $529,242,659
1985 $864,849,836 $1,493,779,883 $165,524,943 $512,665,070
1986 $1,122,265,013 $1,547,227,017 $147,620,048 $511,632,408
1987 $1,200,991,978 $1,470,809,662 $155,128,542 $554,718,560
1988 $1,264,899,288 $1,495,962,938 $176,494,394 $561,653,631
1989 $1,233,930,281 $1,525,542,171 $172,882,411 $585,603,984
1990 $1,440,711,459 $1,492,780,725 $214,877,667 $598,487,271
1991 $1,377,374,987 $1,484,532,469 $227,540,473 $634,396,517
1992 $1,411,917,553 $1,389,164,943 $269,034,596 $714,964,863
1993 $1,278,781,262 $1,393,822,475 $300,746,361 $743,563,455
1994 $851,174,357 $1,462,119,071 $402,837,005 $803,792,104
1995 $1,115,389,674 $1,567,392,310 $469,443,202 $884,883,597
1996 $1,007,791,127 $1,504,695,161 $510,586,430 $899,129,406
1997 $937,741,513 $1,584,443,042 $526,554,006 $890,910,669
1998 $967,338,390 $1,658,914,120 $457,579,840 $902,416,890
1999 $999,477,511 $1,718,634,612 $488,024,514 $898,033,573
2000 $916,777,283 $1,675,850,365 $419,842,674 $769,821,324
2001 $932,648,605 $1,750,672,710 $409,508,553 $708,569,673
2002 $996,068,145 $1,813,986,527 $346,406,739 $688,729,844
2003 $1,142,315,523 $1,716,076,873 $417,668,983 $733,658,907
2004 $1,272,360,517 $1,818,953,694 $468,005,319 $790,028,121
2005 $1,337,894,379 $1,835,473,623 $552,864,570 $848,157,142
2006 $1,461,859,762 $1,923,045,638 $617,258,154 $883,256,262
2007 $1,699,811,295 $2,011,650,636 $695,295,348 $915,403,897
2008 $1,993,407,888 $2,052,972,574 $776,337,692 $972,396,664
2009 $2,067,381,665 $2,229,266,676 $805,557,563 $1,000,248,710
2010 $2,142,591,540 $2,332,499,968 $898,133,685 $1,097,356,737
2011 $2,437,982,705 $2,430,339,369 $1,063,895,361 $1,178,889,790
2012 $2,510,126,512 $2,553,162,919 $1,185,215,418 $1,207,961,229
2013 $1,691,544,110 $1,624,016,454 $1,285,911,586 $1,271,231,099
2014 $1,894,813,389 $1,625,333,053 $1,335,571,421 $1,286,348,802
2015 $1,695,825,714 $1,695,825,714 $1,307,909,888 $1,307,909,888
2016 $1,825,018,145 $1,776,382,809 $1,379,490,304 $1,380,560,771
2017 $2,072,349,973 $1,856,804,601 $1,469,789,119 $1,423,017,819
2018 $2,220,979,146 $1,927,167,164 $1,615,478,393 $1,462,093,823
2019 $2,221,301,351 $1,986,909,346 $1,619,155,017 $1,487,659,507
2020 $2,326,720,900 $2,004,791,530 $1,536,145,814 $1,437,359,544
2021 $2,516,498,412 $2,024,497,026 $1,522,794,913 $1,474,218,470
2022 $2,382,618,615 $2,033,686,257 $1,566,360,686 $1,509,636,295
2023 $2,555,492,086 $2,047,921,418 $1,660,896,531 $1,549,737,698
2024 $2,751,544,520 $2,079,451,881 $1,760,767,447 $1,589,090,837

Economic indicators

CAR Solomon Islands
Gross domestic product
$2.75B
2024
$1.76B
2024
GDP rank
171/197
2024
182/197
2024
GDP growth
7.67%
2023-2024
6.01%
2023-2024
GDP per capita
$516
2024
$2,149
2024
GDP per capita rank
194/197
2024
153/197
2024
GDP per capita, PPP
$1,264
2024
$2,872
2024
Government debt
$1.67B
2024
$388M
2024
Debt-to-GDP ratio
58.3%
2025
23.7%
2025
Government debt per person
$313
2024
$473
2024
Government debt per person rank
178/185
2024
169/185
2024
Average annual personal income after taxes
$1,261
2025
$2,069
2025
Income share by richest 10%
33.1%
2021
29.2%
2012
Income share by poorest 10%
2.1%
2021
2.8%
2012
Government expenditure, % of GDP
17.9%
2025
35.7%
2025
Consumer prices inflation
4.6%
2024-2025
4.32%
2023-2024
Unemployment rate
6.9%
2017
0.69%
2013
Population
5662456
854419

GDP per capita in Central African Republic vs Solomon Islands

The Central African Republic's GDP per capita is $516, ranking 194/197, compared to $2,149 in the Solomon Islands, ranking 153/197. Adjusted for purchasing power (GDP per capita PPP), the Central African Republic ranks 195th at $1,264, while the Solomon Islands ranks 183rd at $2,872.

Central African Republic
GDP per capita

GDP per capita, PPP
Solomon Islands
GDP per capita

GDP per capita, PPP
Year Current $
CAR Solomon Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $65.9 - - -
1961 $71 - - -
1962 $70.4 - - -
1963 $71.8 - - -
1964 $77.2 - - -
1965 $80.2 - - -
1966 $82.3 - - -
1967 $83.6 - $153.5 -
1968 $95.6 - $166.9 -
1969 $91.7 - $165.9 -
1970 $90.2 - $162 -
1971 $94.1 - $277.1 -
1972 $105.5 - $219.5 -
1973 $121.8 - $291.3 -
1974 $124 - $433 -
1975 $163.6 - $372 -
1976 $192.1 - $401 -
1977 $213.8 - $434 -
1978 $254.6 - $500 -
1979 $289.1 - $658 -
1980 $325 - $768 -
1981 $280.3 - $786 -
1982 $298.4 - $756 -
1983 $259.6 - $686 -
1984 $248.3 - $665 -
1985 $333 - $586 -
1986 $426 - $506 -
1987 $450 - $515 -
1988 $466 - $567 -
1989 $443 - $538 -
1990 $502 $620 $648 $1,266
1991 $465 $618 $666 $1,346
1992 $462 $573 $764 $1,505
1993 $405 $570 $829 $1,556
1994 $261.3 $592 $1,078 $1,668
1995 $333 $631 $1,220 $1,821
1996 $293.3 $601 $1,289 $1,830
1997 $265.5 $626 $1,292 $1,793
1998 $266.6 $645 $1,092 $1,785
1999 $268 $660 $1,134 $1,754
2000 $239.2 $640 $953 $1,503
2001 $238 $668 $912 $1,387
2002 $248.6 $688 $757 $1,344
2003 $278.4 $648 $896 $1,433
2004 $303 $690 $986 $1,556
2005 $312 $702 $1,144 $1,693
2006 $334 $743 $1,256 $1,786
2007 $381 $783 $1,390 $1,869
2008 $437 $798 $1,526 $1,989
2009 $456 $877 $1,555 $2,021
2010 $477 $936 $1,685 $2,182
2011 $534 $980 $1,924 $2,306
2012 $544 $1,062 $2,066 $2,320
2013 $364 $710 $2,161 $2,394
2014 $410 $699 $2,165 $2,377
2015 $366 $769 $2,045 $2,354
2016 $387 $826 $2,083 $2,421
2017 $432 $884 $2,144 $2,454
2018 $455 $906 $2,278 $2,494
2019 $449 $985 $2,224 $2,512
2020 $463 $1,066 $2,063 $2,405
2021 $492 $1,129 $1,997 $2,518
2022 $467 $1,218 $2,005 $2,697
2023 $496 $1,257 $2,076 $2,801
2024 $516 $1,264 $2,149 $2,872

Spending and national debt comparison

In 2024, the Central African Republic's government spending was $538M, accounting for 17.9% of its GDP, while the Solomon Islands' spent $630M, or 35.7% of GDP.

Debt-to-GDP ratio is 58.3% in the Central African Republic and 23.7% in the Solomon Islands, ranking 87/185 and 171/185, respectively.

Central African Republic
Government spending

Government debt
Solomon Islands
Government spending

Government debt
Year % of GDP
CAR Solomon Islands
Government spending Government debt Government spending Government debt
1988 21.4% 48.8% - -
1989 19.6% 50.9% - -
1990 22% 44.6% 30% -
1991 22.6% 55.8% 39.4% -
1992 23.1% 57.4% 35.1% -
1993 20.6% 68.2% 33.2% -
1994 22.4% 103.4% 30.2% -
1995 20.6% 83.8% 24.7% -
1996 11.7% 93% 24.2% -
1997 14.5% 96.1% 19.3% 25.9%
1998 18.1% 85.3% 15.5% 39.5%
1999 18.2% 84.2% 18.7% 42%
2000 17.2% 94.7% 18.7% 44.3%
2001 14.1% 103.1% 18.1% 52.8%
2002 16.7% 98.5% 16.7% 65.7%
2003 12.3% 95.9% 14.9% 61.3%
2004 13.1% 99.7% 14.7% 58.2%
2005 16.2% 103% 17% 44.7%
2006 13.4% 46.7% 19.9% 42.3%
2007 12.9% 47.9% 23.7% 33%
2008 16% 35.8% 27% 28.9%
2009 16% 20.3% 24.8% 18.9%
2010 17.3% 19.9% 23.9% 22.9%
2011 14.2% 19.7% 27% 18.3%
2012 14.7% 31.5% 29.4% 13.3%
2013 13.4% 51.8% 41.8% 11.6%
2014 18% 62.2% 39.8% 10.1%
2015 14% 59.8% 41.5% 7.88%
2016 12.1% 53.9% 39.6% 7.54%
2017 13.9% 50.3% 40.4% 8.77%
2018 17.6% 50% 34.8% 7.95%
2019 16.9% 48.2% 35.6% 7.82%
2020 25.1% 44.4% 40.4% 12.8%
2021 19.7% 48.5% 37.8% 15.9%
2022 17.6% 51% 40.8% 15.5%
2023 18.1% 58.2% 40.1% 20.3%
2024 19.5% 60.7% 35.8% 22%
2025 17.9% 58.3% 35.7% 23.7%

Government deficit by year

In 2024, the Central African Republic's government deficit, the difference between spending and revenue, was -$137M, equivalent to -4.98% of GDP. This compares to the Solomon Islands' deficit of -$54.3M, or -3.08% of GDP.

Over the past 35 years, the Central African Republic recorded a fiscal deficit in 30 of those years, while the Solomon Islands ran a deficit in 12 years. On average, the Central African Republic posted an annual deficit equal to -2.33% of GDP, compared to surplus of +2.66% of GDP for the Solomon Islands.

Deficit/surplus
Central African Republic

Solomon Islands
Year Deficit/surplus, % of GDP
CAR Solomon Islands
1988 -3.72% -
1989 -3.25% -
1990 -6.6% 0.58%
1991 -8% 0.14%
1992 -7.33% 4.13%
1993 -5.66% 2.45%
1994 -7.57% 4.33%
1995 -4.84% 3.19%
1996 -1.06% 3.73%
1997 -1.57% 2.14%
1998 0.001% 5.04%
1999 -0.5% -0.32%
2000 -2.01% -2.93%
2001 -0.88% -2.4%
2002 -1.19% -4.35%
2003 -3.06% 10.6%
2004 -1.74% 17%
2005 -4.37% 13.4%
2006 8.58% 13%
2007 1.04% 15.3%
2008 -1.23% 1.94%
2009 -0.54% 2.35%
2010 -1.35% 6.02%
2011 -2.15% 6.22%
2012 -0.78% 4.63%
2013 -2.3% 3.57%
2014 -3.26% 2.13%
2015 -0.59% 0.81%
2016 1.28% -3.56%
2017 -1.06% -2.27%
2018 -0.97% 1.49%
2019 1.42% -1.52%
2020 -3.36% -2.44%
2021 -6.02% -1.86%
2022 -5.34% -2.51%
2023 -3.59% -3.81%
2024 -4.98% -3.08%
2025 -1.62% -3.15%

Inflation comparison by year

Over the past 29 years, the Central African Republic has recorded an average annual inflation rate of 3.36%, compared with 6.24% in the Solomon Islands. In 2024, inflation was 4.6% in the Central African Republic and 4.32% in the Solomon Islands.

Inflation
Central African Republic

Solomon Islands
Year Inflation
CAR Solomon Islands CAR Solomon Islands
1996 3.8% 11.8%
1997 1.6% 8.08%
1998 -2% 12.4%
1999 -1.6% 8.02%
2000 3.4% 7.89%
2001 4.1% 6.93%
2002 2.3% 10.9%
2003 4.4% 8.27%
2004 -2.6% 6.99%
2005 2.9% 7.33%
2006 6.9% 11.2%
2007 0.9% 7.67%
2008 9.2% 17.3%
2009 3.6% 7.09%
2010 1.5% 1.05%
2011 1.2% 7.34%
2012 5.9% 5.91%
2013 4% 5.39%
2014 17.8% 5.17%
2015 1.4% -0.57%
2016 4.9% 0.51%
2017 4.2% 0.49%
2018 1.6% 3.46%
2019 2.8% 1.63%
2020 0.9% 2.96%
2021 4.3% -0.12%
2022 5.6% 5.52%
2023 3% 5.89%
2024 1.5% 4.32%
2025 4.6% -

Balance of trade

CAR Solomon Islands
Current account balance
-$24.7M
1994
-$66.2M
2024
Current account balance ranking
78/189
1994
83/189
2024
Current account balance, % of GDP
-2.9%
1994
-3.76%
2024
Goods imports
$131M
1994
$609M
2024
Goods exports
$146M
1994
$510M
2024
Service imports
$114M
1994
$248M
2024
Service exports
$33.1M
1994
$133M
2024
Imports of goods and services, % of GDP
32.4%
2024
51.7%
2022
Exports of goods and services, % of GDP
15.5%
2024
26.3%
2022

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

CAR Solomon Islands
Economic freedom 42.8 56.3
Economic freedom ranking 184/197 121/197
Property rights 6.9 48.2
Government integrity 19.6 42
Judicial effectiveness 4 61.9
Tax burden 65.5 70.6
Government spending 89.8 70.2
Fiscal health 53.8 95.3
Business freedom 27.1 50.1
Labor freedom 48.3 60.5
Monetary freedom 72.8 76.2
Trade freedom 50.4 55.4
Investment freedom 45 15
Financial freedom 30 30

Economic freedom by year comparison

The Economic Freedom Index for the Central African Republic is 42.8, ranking 184/197, compared to 56.3 for the Solomon Islands, ranking 121/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Central African Republic
Solomon Islands
Year Economic freedom index
CAR Solomon Islands
2002 59.8 -
2003 60 -
2004 57.5 -
2005 56.5 -
2006 54.2 -
2007 50.6 -
2008 48.6 -
2009 48.3 46
2010 48.4 42.9
2011 49.3 45.9
2012 50.3 46.2
2013 50.4 45
2014 46.7 46.2
2015 45.9 47
2016 45.2 47
2017 51.8 55
2018 49.2 57.5
2019 49.1 54.6
2020 50.7 52.9
2021 48.8 56.5
2022 45.7 56.5
2023 43.8 56.9
2024 41.3 55
2025 42.8 56.3

More economic indicators

CAR Solomon Islands
Services, % of GDP
40.5%
2024
47.3%
2022
Industry, % of GDP
17.8%
2024
18.7%
2022
Agriculture, forestry, and fishing, % of GDP
32.5%
2024
33.8%
2022
GNI, Atlas method
$2.75B
2024
$1.71B
2024
GNI per capita, PPP
$1,340
2024
$2,880
2024
Total reserves including gold
$480M
2023
$688M
2023
Total reserves ranking
158/177
2023
149/177
2023
Net foreign direct investment
$3.6M
1994
$19.9M
2024
Net inflows of foreign direct investment
$40.4M
2024
$33M
2024
Net outflows of foreign direct investment
$1.29K
2002
$52.9M
2024
Servicing debt to the IMF, % of GNI
1.41%
2023
1.77%
2023
Poverty at national poverty lines
68.8%
2021
12.7%
2012
Gross capital formation, % of GDP
15.4%
2024
23.4%
2022

GDP per capita map

GDP per capita

Compare countries by 7 more topics

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.