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Economy of Ecuador vs Solomon Islands compared: GDP & Debt

Updated on by Georank team

Ecuador has a GDP of $125B compared to $1.58B for the Solomon Islands, ranking 62/197 and 182/197 by economy size, respectively.

Ecuador has $67B in government debt (53.8% of GDP), compared to $350M (22.1% of GDP) in the Solomon Islands.

Ecuador vs Solomon Islands GDP by year

Ecuador
Solomon Islands
1x
Year GDP, current $
Ecuador Solomon Islands
2024 $124,676,074,700 $1,583,964,704
2023 $121,147,057,000 $1,506,124,566
2022 $116,133,121,000 $1,466,670,930
2021 $107,179,074,000 $1,558,312,104
2020 $95,865,473,000 $1,536,143,428
2019 $107,595,830,000 $1,619,150,564
2018 $107,478,961,000 $1,615,473,250
2017 $104,467,486,000 $1,469,790,526
2016 $97,671,433,000 $1,379,486,291
2015 $97,209,558,000 $1,307,908,814
2014 $102,717,794,000 $1,335,576,763
2013 $96,570,334,000 $1,285,905,958
2012 $87,735,048,000 $1,185,217,634
2011 $78,986,648,000 $1,063,898,227
2010 $68,151,329,000 $898,128,551
2009 $60,094,978,000 $805,557,289
2008 $61,139,438,000 $776,335,523
2007 $49,848,725,000 $695,291,218
2006 $45,690,762,000 $617,257,458
2005 $40,278,849,000 $552,881,357
2004 $35,194,947,000 $468,000,121
2003 $30,965,208,000 $417,666,639
2002 $27,054,197,000 $346,406,739
2001 $23,127,055,000 $409,508,553
2000 $17,539,454,727 $419,842,674
1999 $19,645,272,636 $488,024,514
1998 $27,981,896,948 $457,579,840
1997 $28,162,053,027 $526,554,006
1996 $25,226,393,197 $510,586,430
1995 $24,432,884,442 $469,443,202
1994 $22,708,673,337 $402,837,005
1993 $18,938,717,359 $300,746,361
1992 $18,094,238,119 $269,034,596
1991 $16,988,535,268 $227,540,473
1990 $15,239,272,612 $214,877,667
1989 $13,890,823,705 $172,882,411
1988 $13,051,881,851 $176,494,394
1987 $13,945,426,859 $155,128,542
1986 $15,314,138,472 $147,620,048
1985 $17,149,088,413 $165,524,943
1984 $16,912,509,092 $181,570,474
1983 $17,152,477,037 $181,220,399
1982 $19,929,846,396 $192,902,019
1981 $21,810,759,354 $193,750,541
1980 $17,881,508,242 $182,852,107
1979 $14,175,160,902 $151,276,496
1978 $11,922,497,876 $111,027,427
1977 $11,026,342,618 $93,145,283
1976 $9,091,921,030 $83,100,834
1975 $7,731,674,472 $74,620,320
1974 $6,599,257,044 $84,539,332
1973 $3,891,754,150 $55,272,109
1972 $3,185,986,087 $40,606,712
1971 $2,754,219,271 $50,056,883
1970 $2,862,503,139 -
1969 $3,112,165,727 $28,606,411
1968 $2,582,179,864 $28,084,253
1967 $2,553,595,172 $25,203,524
1966 $2,429,308,639 -
1965 $2,387,047,396 -
1964 $2,244,146,103 -
1963 $1,824,343,871 -
1962 $1,518,207,703 -
1961 $1,753,850,955 -
1960 $2,069,464,937 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/solomon-islands | CC BY

GDP per capita in Ecuador vs Solomon Islands by year

Ecuador
GDP per capita

GDP per capita, PPP
Solomon Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ecuador Solomon Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,875 $15,840 $1,934 $2,675
2023 $6,738 $15,919 $1,883 $2,597
2022 $6,516 $15,198 $1,878 $2,496
2021 $6,061 $13,507 $2,043 $2,450
2020 $5,464 $11,527 $2,063 $2,405
2019 $6,205 $12,543 $2,224 $2,512
2018 $6,304 $12,187 $2,278 $2,494
2017 $6,233 $11,793 $2,144 $2,454
2016 $5,918 $10,881 $2,083 $2,421
2015 $5,976 $10,878 $2,045 $2,354
2014 $6,406 $11,836 $2,165 $2,377
2013 $6,109 $11,296 $2,161 $2,394
2012 $5,634 $10,245 $2,066 $2,320
2011 $5,154 $9,769 $1,924 $2,306
2010 $4,520 $8,969 $1,685 $2,182
2009 $4,053 $8,662 $1,555 $2,021
2008 $4,195 $8,663 $1,526 $1,989
2007 $3,479 $8,112 $1,390 $1,869
2006 $3,244 $7,885 $1,256 $1,786
2005 $2,909 $7,457 $1,144 $1,693
2004 $2,586 $6,980 $986 $1,556
2003 $2,316 $6,475 $896 $1,433
2002 $2,059 $6,282 $757 $1,344
2001 $1,791 $5,999 $912 $1,387
2000 $1,382 $5,728 $953 $1,503
1999 $1,575 $5,638 $1,134 $1,754
1998 $2,284 $5,940 $1,092 $1,785
1997 $2,341 $5,793 $1,292 $1,793
1996 $2,136 $5,560 $1,289 $1,830
1995 $2,108 $5,469 $1,220 $1,820
1994 $1,997 $5,339 $1,078 $1,668
1993 $1,698 $5,112 $829 $1,556
1992 $1,655 $4,998 $764 $1,505
1991 $1,587 $4,887 $666 $1,346
1990 $1,455 $4,632 $648 $1,266
1989 $1,356 - $538 -
1988 $1,304 - $567 -
1987 $1,426 - $515 -
1986 $1,604 - $506 -
1985 $1,842 - $586 -
1984 $1,864 - $665 -
1983 $1,940 - $686 -
1982 $2,314 - $756 -
1981 $2,601 - $786 -
1980 $2,190 - $768 -
1979 $1,783 - $658 -
1978 $1,541 - $500 -
1977 $1,465 - $434 -
1976 $1,242 - $401 -
1975 $1,086 - $372 -
1974 $954 - $433 -
1973 $579 - $291.3 -
1972 $488 - $219.5 -
1971 $434 - $277.1 -
1970 $465 - - -
1969 $521 - $165.9 -
1968 $445 - $166.9 -
1967 $454 - $153.5 -
1966 $445 - - -
1965 $450 - - -
1964 $436 - - -
1963 $365 - - -
1962 $312 - - -
1961 $371 - - -
1960 $451 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/solomon-islands | CC BY

Ecuador's GDP per capita is $6,875, ranking 103/197, compared to $1,934 in the Solomon Islands, ranking 157/197. Adjusted for purchasing power (GDP per capita PPP), Ecuador ranks 110th at $15,840, while the Solomon Islands ranks 183rd at $2,675.

Economic indicators

Ecuador Solomon Islands
Gross domestic product
$125B
2024
$1.58B
2024
GDP rank
62/197
2024
182/197
2024
GDP growth
-2%
2023-2024
3%
2023-2024
GDP per capita
$6,875
2024
$1,934
2024
GDP per capita rank
103/197
2024
157/197
2024
GDP per capita, PPP
$15,840
2024
$2,675
2024
GDP per capita PPP rank
110/197
2024
183/197
2024
Government debt
$67B
2024
$350M
2024
Debt-to-GDP ratio
53.8%
2024
22.1%
2024
Government debt per person
$3,695
2024
$427
2024
Government debt per person rank
93/185
2024
169/185
2024
Average annual personal income after taxes
$5,894
2026
$1,776
2026
Market capitalization of domestic companies
$747M
2000
n/a
Income share by richest 10%
33.4%
2024
29.2%
2012
Income share by poorest 10%
1.5%
2024
2.8%
2012
Government expenditure, % of GDP
38.1%
2024
35.8%
2024
Consumer prices inflation
1.55%
2023-2024
4.32%
2023-2024
Unemployment rate
3.39%
2024
0.69%
2013
Population
18487749
863951

Spending and national debt comparison by year

Ecuador
Spending

Debt
Solomon Islands
Spending

Debt
1x
Year % of GDP
Ecuador Solomon Islands
Government spending Government debt Government spending Government debt
2024 38.1% 53.8% 35.8% 22.1%
2023 39.5% 54.3% 40.1% 20.3%
2022 38.9% 57.2% 40.8% 15.5%
2021 37.5% 61.8% 37.8% 15.9%
2020 40.2% 63.6% 40.4% 12.8%
2019 39.8% 52.1% 35.6% 7.82%
2018 40.9% 49.5% 34.8% 7.95%
2017 40.5% 47.4% 40.4% 8.77%
2016 44.1% 46.1% 39.6% 7.54%
2015 44.1% 36.4% 41.5% 7.88%
2014 45.9% 28.2% 39.8% 10.1%
2013 46.7% 23.4% 41.8% 11.6%
2012 43.2% 19.3% 29.4% 13.3%
2011 39.6% 18.6% 27% 18.3%
2010 35.4% 18.4% 23.9% 22.9%
2009 34.3% 19.7% 24.8% 18.9%
2008 35.6% 24.9% 27% 28.9%
2007 24.7% 29.6% 23.7% 33%
2006 21.7% 33.1% 19.9% 42.3%
2005 22% 35.8% 17% 44.7%
2004 21.3% 40.2% 14.7% 58.2%
2003 21.3% 47.2% 14.9% 61.3%
2002 22.8% 55% 16.7% 65.7%
2001 21.4% 63.8% 18.1% 52.8%
2000 24.3% 92.2% 18.7% 44.3%
1999 24.1% 105.2% 18.7% 42%
1998 21.5% 70.3% 15.5% 39.5%
1997 22% 61.5% 19.3% 25.9%
1996 22.7% 69.3% 24.2% -
1995 22% 70.5% 24.7% -
1994 - - 30.2% -
1993 - - 33.2% -
1992 - - 35.1% -
1991 - - 39.4% -
1990 - - 30% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1995–2000, retrieved 2026-02-20).

GeoRank.org/economy/ecuador/solomon-islands | CC BY

In 2024, Ecuador's government spending was $47.5B, accounting for 38.1% of its GDP, while the Solomon Islands spent $567M, or 35.8% of GDP.

Debt-to-GDP ratio is 53.8% in Ecuador and 22.1% in the Solomon Islands, ranking 98/185 and 173/185, respectively.

Government deficit by year

Deficit/surplus
Ecuador

Solomon Islands
1x
Year Deficit/surplus, % of GDP
Ecuador Solomon Islands
2024 -1.28% -3.08%
2023 -3.48% -3.81%
2022 0.04% -2.51%
2021 -1.59% -1.86%
2020 -7.38% -2.44%
2019 -3.47% -1.52%
2018 -2.8% 1.49%
2017 -5.77% -2.27%
2016 -10.3% -3.56%
2015 -6.87% 0.81%
2014 -8.11% 2.13%
2013 -8.17% 3.57%
2012 -2.83% 4.63%
2011 -0.13% 6.22%
2010 -1.39% 6.02%
2009 -3.71% 2.35%
2008 0.57% 1.94%
2007 2.66% 15.3%
2006 2.92% 13%
2005 0.66% 13.4%
2004 1.94% 17%
2003 1.05% 10.6%
2002 0.74% -4.35%
2001 0.03% -2.4%
2000 -0.32% -2.93%
1999 -4.82% -0.32%
1998 -5.1% 5.04%
1997 -2.83% 2.14%
1996 -3.44% 3.73%
1995 -2.02% 3.19%
1994 - 4.33%
1993 - 2.45%
1992 - 4.13%
1991 - 0.14%
1990 - 0.58%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/ecuador/solomon-islands | CC BY

In 2024, Ecuador's government deficit, the difference between spending and revenue, was $1.59B, equivalent to 1.28% of GDP. This compares to the Solomon Islands' deficit of $48.8M, or 3.08% of GDP.

Over the past 30 years, Ecuador recorded a fiscal deficit in 21 of those years, while the Solomon Islands ran a deficit in 12 years. On average, Ecuador posted an annual deficit equal to 2.51% of GDP, compared to surplus of 2.72% of GDP for the Solomon Islands.

Inflation comparison by year

Inflation
Ecuador

Solomon Islands
1x
Year Consumer prices inflation
Ecuador Solomon Islands
2024 1.55% 4.32%
2023 2.22% 5.89%
2022 3.47% 5.52%
2021 0.13% -0.12%
2020 -0.34% 2.96%
2019 0.27% 1.63%
2018 -0.22% 3.46%
2017 0.42% 0.49%
2016 1.73% 0.51%
2015 3.97% -0.57%
2014 3.59% 5.17%
2013 2.72% 5.39%
2012 5.1% 5.91%
2011 4.47% 7.34%
2010 3.55% 1.05%
2009 5.16% 7.09%
2008 8.4% 17.3%
2007 2.28% 7.67%
2006 3.3% 11.2%
2005 2.17% 7.33%
2004 2.74% 6.99%
2003 7.93% 8.27%
2002 12.5% 10.9%
2001 37.7% 6.93%
2000 96.1% 7.89%
1999 52.2% 8.02%
1998 36.1% 12.4%
1997 30.7% 8.08%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/ecuador/solomon-islands | CC BY

Over the past 28 years, Ecuador has recorded an average annual inflation rate of 11.8%, compared with 6.04% in the Solomon Islands. In 2024, inflation was 1.55% in Ecuador and 4.32% in the Solomon Islands.

Balance of trade

Ecuador Solomon Islands
Current account balance
$7.06B
2024
-$66.2M
2024
Current account balance ranking
27/190
2024
87/190
2024
Current account balance, % of GDP
+5.66%
2024
-4.18%
2024
Goods imports
$27.9B
2024
$609M
2024
Goods exports
$34.7B
2024
$510M
2024
Service imports
$6.18B
2024
$248M
2024
Service exports
$3.86B
2024
$133M
2024
Imports of goods and services, % of GDP
26.9%
2024
70.8%
2024
Exports of goods and services, % of GDP
30.3%
2024
40.6%
2024

Economic freedom indices

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

Ecuador Solomon Islands
Economic freedom 55.6 53.7
Economic freedom ranking 127/197 137/197
Property rights 33.2 55.8
Government integrity 33 42.7
Judicial effectiveness 48.1 59.1
Tax burden 74.2 71.3
Government spending 54.9 54.6
Fiscal health 90.3 83.3
Business freedom 64.3 52.3
Labor freedom 56.9 60.4
Monetary freedom 76.3 76.5
Trade freedom 66.4 43.6
Investment freedom 30 15
Financial freedom 40 30

Economic freedom comparison by year

Ecuador
Solomon Islands
1x
Year Economic freedom index
Ecuador Solomon Islands
2026 55.6 53.7
2025 55.8 56.3
2024 55 55
2023 55 56.9
2022 54.3 56.5
2021 52.4 56.5
2020 51.3 52.9
2019 46.9 54.6
2018 48.5 57.5
2017 49.3 55
2016 48.6 47
2015 49.2 47
2014 48 46.2
2013 46.9 45
2012 48.3 46.2
2011 47.1 45.9
2010 49.3 42.9
2009 52.5 46
2008 55.2 -
2007 55.3 -
2006 54.6 -
2005 52.9 -
2004 54.4 -
2003 54.1 -
2002 53.1 -
2001 55.1 -
2000 59.8 -
1999 62.9 -
1998 62.8 -
1997 61 -
1996 60.1 -
1995 57.7 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/ecuador/solomon-islands | CC BY

The Economic Freedom Index for Ecuador is 55.6, ranking 127/197, compared to 53.7 for the Solomon Islands, ranking 137/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ecuador Solomon Islands
Services, % of GDP
57.2%
2024
46.9%
2024
Industry, % of GDP
26.5%
2024
23.4%
2024
Agriculture, forestry, and fishing, % of GDP
9.48%
2024
29.7%
2024
GNI, Atlas method
$117B
2024
$1.57B
2024
GNI per capita, PPP
$15,410
2024
$2,680
2024
Total reserves including gold
$6.91B
2024
$688M
2023
Total reserves ranking
87/177
2024
149/177
2023
Net foreign direct investment
-$438M
2024
$19.9M
2024
Net inflows of foreign direct investment
$443M
2024
$33M
2024
Net outflows of foreign direct investment
$0
2024
$52.9M
2024
Servicing debt to the IMF, % of GNI
7%
2024
1.64%
2024
Poverty at national poverty lines
28%
2024
12.7%
2012
Gross capital formation, % of GDP
18.5%
2024
19.5%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/ecuador/solomon-islands | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1995–2000, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.