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Economy of Guatemala vs Solomon Islands compared: GDP & Debt

Updated on by Georank team

Guatemala has a GDP of $113B compared to $1.58B for the Solomon Islands, ranking 68/197 and 182/197 by economy size, respectively.

Guatemala has $29.8B in government debt (26.3% of GDP), compared to $350M (22.1% of GDP) in the Solomon Islands.

Guatemala vs Solomon Islands GDP by year

Guatemala
Solomon Islands
1x
Year GDP, current $
Guatemala Solomon Islands
2024 $113,199,581,158 $1,583,964,704
2023 $104,368,755,055 $1,506,124,566
2022 $95,641,446,501 $1,466,670,930
2021 $86,455,522,273 $1,558,312,104
2020 $77,719,468,248 $1,536,143,428
2019 $77,172,331,693 $1,619,150,564
2018 $73,328,356,008 $1,615,473,250
2017 $71,653,780,740 $1,469,790,526
2016 $66,053,408,206 $1,379,486,291
2015 $62,186,066,548 $1,307,908,814
2014 $57,852,159,008 $1,335,576,763
2013 $52,996,420,177 $1,285,905,958
2012 $49,593,929,487 $1,185,217,634
2011 $46,876,006,272 $1,063,898,227
2010 $40,676,578,423 $898,128,551
2009 $37,126,148,265 $805,557,289
2008 $38,503,720,224 $776,335,523
2007 $33,567,850,824 $695,291,218
2006 $29,744,246,827 $617,257,458
2005 $26,783,389,294 $552,881,357
2004 $23,577,298,095 $468,000,121
2003 $21,576,351,799 $417,666,639
2002 $20,444,205,991 $346,406,739
2001 $18,405,220,247 $409,508,553
2000 $19,288,929,030 $419,842,674
1999 $18,318,412,251 $488,024,514
1998 $19,395,491,993 $457,579,840
1997 $17,790,026,222 $526,554,006
1996 $15,674,835,615 $510,586,430
1995 $14,655,404,433 $469,443,202
1994 $12,983,233,311 $402,837,005
1993 $11,400,017,301 $300,746,361
1992 $10,440,781,588 $269,034,596
1991 $9,406,135,143 $227,540,473
1990 $7,650,196,845 $214,877,667
1989 $8,410,724,361 $172,882,411
1988 $7,841,602,824 $176,494,394
1987 $7,084,399,840 $155,128,542
1986 $7,231,963,516 $147,620,048
1985 $9,721,652,087 $165,524,943
1984 $9,470,000,100 $181,570,474
1983 $9,050,000,400 $181,220,399
1982 $8,716,999,700 $192,902,019
1981 $8,607,500,300 $193,750,541
1980 $7,878,700,000 $182,852,107
1979 $6,902,600,200 $151,276,496
1978 $6,070,600,200 $111,027,427
1977 $5,480,500,200 $93,145,283
1976 $4,365,300,200 $83,100,834
1975 $3,645,900,000 $74,620,320
1974 $3,161,499,900 $84,539,332
1973 $2,569,200,100 $55,272,109
1972 $2,101,300,000 $40,606,712
1971 $1,984,800,000 $50,056,883
1970 $1,904,000,000 -
1969 $1,715,399,900 $28,606,411
1968 $1,610,500,000 $28,084,253
1967 $1,453,500,000 $25,203,524
1966 $1,390,700,000 -
1965 $1,331,399,900 -
1964 $1,299,099,900 -
1963 $1,262,800,000 -
1962 $1,143,600,000 -
1961 $1,076,699,900 -
1960 $1,043,599,900 -

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

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

GDP per capita in Guatemala vs Solomon Islands by year

Guatemala
GDP per capita

GDP per capita, PPP
Solomon Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guatemala Solomon Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,150 $14,369 $1,934 $2,675
2023 $5,758 $13,745 $1,883 $2,597
2022 $5,359 $13,014 $1,878 $2,496
2021 $4,913 $11,825 $2,043 $2,450
2020 $4,478 $10,947 $2,063 $2,405
2019 $4,512 $10,756 $2,224 $2,512
2018 $4,353 $9,947 $2,278 $2,494
2017 $4,325 $9,560 $2,144 $2,454
2016 $4,060 $9,201 $2,083 $2,421
2015 $3,894 $8,934 $2,045 $2,354
2014 $3,689 $8,237 $2,165 $2,377
2013 $3,444 $7,700 $2,161 $2,394
2012 $3,287 $7,258 $2,066 $2,320
2011 $3,169 $6,784 $1,924 $2,306
2010 $2,805 $6,510 $1,685 $2,182
2009 $2,612 $6,377 $1,555 $2,021
2008 $2,763 $6,435 $1,526 $1,989
2007 $2,459 $6,238 $1,390 $1,869
2006 $2,225 $5,833 $1,256 $1,786
2005 $2,046 $5,486 $1,144 $1,693
2004 $1,841 $5,263 $986 $1,556
2003 $1,723 $5,081 $896 $1,433
2002 $1,669 $4,969 $757 $1,344
2001 $1,538 $4,822 $912 $1,387
2000 $1,649 $4,715 $953 $1,503
1999 $1,604 $4,557 $1,134 $1,754
1998 $1,741 $4,437 $1,092 $1,785
1997 $1,638 $4,287 $1,292 $1,793
1996 $1,481 $4,143 $1,289 $1,830
1995 $1,421 $4,055 $1,220 $1,820
1994 $1,293 $3,886 $1,078 $1,668
1993 $1,166 $3,756 $829 $1,556
1992 $1,096 $3,626 $764 $1,505
1991 $1,014 $3,473 $666 $1,346
1990 $848 $3,330 $648 $1,266
1989 $958 - $538 -
1988 $919 - $567 -
1987 $854 - $515 -
1986 $896 - $506 -
1985 $1,238 - $586 -
1984 $1,241 - $665 -
1983 $1,220 - $686 -
1982 $1,204 - $756 -
1981 $1,216 - $786 -
1980 $1,142 - $768 -
1979 $1,026 - $658 -
1978 $925 - $500 -
1977 $856 - $434 -
1976 $697 - $401 -
1975 $595 - $372 -
1974 $529 - $433 -
1973 $441 - $291.3 -
1972 $370 - $219.5 -
1971 $358 - $277.1 -
1970 $353 - - -
1969 $326 - $165.9 -
1968 $315 - $166.9 -
1967 $291.9 - $153.5 -
1966 $287.3 - - -
1965 $283 - - -
1964 $284.2 - - -
1963 $284.4 - - -
1962 $265.2 - - -
1961 $257.2 - - -
1960 $256.8 - - -

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

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

Guatemala's GDP per capita is $6,150, ranking 112/197, compared to $1,934 in the Solomon Islands, ranking 157/197. Adjusted for purchasing power (GDP per capita PPP), Guatemala ranks 116th at $14,369, while the Solomon Islands ranks 183rd at $2,675.

Economic indicators

Guatemala Solomon Islands
Gross domestic product
$113B
2024
$1.58B
2024
GDP rank
68/197
2024
182/197
2024
GDP growth
3.65%
2023-2024
3%
2023-2024
GDP per capita
$6,150
2024
$1,934
2024
GDP per capita rank
112/197
2024
157/197
2024
GDP per capita, PPP
$14,369
2024
$2,675
2024
GDP per capita PPP rank
116/197
2024
183/197
2024
Government debt
$29.8B
2024
$350M
2024
Debt-to-GDP ratio
26.3%
2024
22.1%
2024
Government debt per person
$1,619
2024
$427
2024
Government debt per person rank
124/185
2024
169/185
2024
Average annual personal income after taxes
$4,917
2026
$1,776
2026
Income share by richest 10%
34.1%
2023
29.2%
2012
Income share by poorest 10%
1.6%
2023
2.8%
2012
Government expenditure, % of GDP
13.4%
2024
35.8%
2024
Consumer prices inflation
2.87%
2023-2024
4.32%
2023-2024
Central bank interest rate
4%
2025
n/a
Unemployment rate
1.9%
2024
0.69%
2013
Population
19049936
863951

Spending and national debt comparison by year

Guatemala
Spending

Debt
Solomon Islands
Spending

Debt
1x
Year % of GDP
Guatemala Solomon Islands
Government spending Government debt Government spending Government debt
2024 13.4% 26.3% 35.8% 22.1%
2023 13.7% 27.2% 40.1% 20.3%
2022 14.3% 29% 40.8% 15.5%
2021 13.5% 30.6% 37.8% 15.9%
2020 15.6% 31.5% 40.4% 12.8%
2019 13.4% 26.4% 35.6% 7.82%
2018 13.2% 26.4% 34.8% 7.95%
2017 12.8% 25.1% 40.4% 8.77%
2016 12.6% 24.9% 39.6% 7.54%
2015 12.6% 24.8% 41.5% 7.88%
2014 13.6% 24.7% 39.8% 10.1%
2013 14% 25% 41.8% 11.6%
2012 14.2% 24.6% 29.4% 13.3%
2011 14.5% 23.8% 27% 18.3%
2010 14.5% 24% 23.9% 22.9%
2009 14.1% 22.8% 24.8% 18.9%
2008 13.3% 19.6% 27% 28.9%
2007 13.9% 20.8% 23.7% 33%
2006 14.2% 20.9% 19.9% 42.3%
2005 13.2% 20% 17% 44.7%
2004 12.9% 20.6% 14.7% 58.2%
2003 14.4% 19.8% 14.9% 61.3%
2002 13.1% 17.4% 16.7% 65.7%
2001 13.8% 19.1% 18.1% 52.8%
2000 13.6% 18% 18.7% 44.3%
1999 14.6% 22% 18.7% 42%
1998 13.2% 19% 15.5% 39.5%
1997 11.2% 18.5% 19.3% 25.9%
1996 9.85% 19.2% 24.2% -
1995 9.77% 21% 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 (1995–1999, retrieved 2026-02-20).

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

In 2024, Guatemala's government spending was $15.1B, accounting for 13.4% of its GDP, while the Solomon Islands spent $567M, or 35.8% of GDP.

Debt-to-GDP ratio is 26.3% in Guatemala and 22.1% in the Solomon Islands, ranking 161/185 and 173/185, respectively.

Government deficit by year

Deficit/surplus
Guatemala

Solomon Islands
1x
Year Deficit/surplus, % of GDP
Guatemala Solomon Islands
2024 -0.96% -3.08%
2023 -1.25% -3.81%
2022 -1.7% -2.51%
2021 -1.16% -1.86%
2020 -4.91% -2.44%
2019 -2.24% -1.52%
2018 -1.88% 1.49%
2017 -1.38% -2.27%
2016 -1.11% -3.56%
2015 -1.47% 0.81%
2014 -1.92% 2.13%
2013 -2.16% 3.57%
2012 -2.42% 4.63%
2011 -2.8% 6.22%
2010 -3.28% 6.02%
2009 -3.12% 2.35%
2008 -1.57% 1.94%
2007 -1.4% 15.3%
2006 -1.88% 13%
2005 -1.67% 13.4%
2004 -1.05% 17%
2003 -2.47% 10.6%
2002 -1.03% -4.35%
2001 -2% -2.4%
2000 -1.88% -2.93%
1999 -2.96% -0.32%
1998 -2.29% 5.04%
1997 -0.79% 2.14%
1996 0.04% 3.73%
1995 -0.53% 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/guatemala/solomon-islands | CC BY

In 2024, Guatemala's government deficit, the difference between spending and revenue, was $1.09B, equivalent to 0.96% of GDP. This compares to the Solomon Islands' deficit of $48.8M, or 3.08% of GDP.

Over the past 30 years, Guatemala recorded a fiscal deficit in 29 of those years, while the Solomon Islands ran a deficit in 12 years. On average, Guatemala posted an annual deficit equal to 1.84% of GDP, compared to surplus of 2.72% of GDP for the Solomon Islands.

Inflation comparison by year

Inflation
Guatemala

Solomon Islands
1x
Year Consumer prices inflation
Guatemala Solomon Islands
2024 2.87% 4.32%
2023 6.21% 5.89%
2022 6.89% 5.52%
2021 4.26% -0.12%
2020 3.21% 2.96%
2019 3.7% 1.63%
2018 3.75% 3.46%
2017 4.42% 0.49%
2016 4.45% 0.51%
2015 2.39% -0.57%
2014 3.42% 5.17%
2013 4.34% 5.39%
2012 3.78% 5.91%
2011 6.21% 7.34%
2010 3.86% 1.05%
2009 1.86% 7.09%
2008 11.4% 17.3%
2007 6.82% 7.67%
2006 6.56% 11.2%
2005 9.11% 7.33%
2004 7.58% 6.99%
2003 5.6% 8.27%
2002 8.13% 10.9%
2001 7.29% 6.93%
2000 5.98% 7.89%
1999 5.21% 8.02%
1998 6.61% 12.4%
1997 9.23% 8.08%

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

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

Over the past 28 years, Guatemala has recorded an average annual inflation rate of 5.54%, compared with 6.04% in the Solomon Islands. In 2024, inflation was 2.87% in Guatemala and 4.32% in the Solomon Islands.

Balance of trade

Guatemala Solomon Islands
Current account balance
$3.27B
2024
-$66.2M
2024
Current account balance ranking
38/190
2024
87/190
2024
Current account balance, % of GDP
+2.89%
2024
-4.18%
2024
Goods imports
$29.1B
2024
$609M
2024
Goods exports
$13.3B
2024
$510M
2024
Service imports
$6.45B
2024
$248M
2024
Service exports
$4.65B
2024
$133M
2024
Imports of goods and services, % of GDP
31.5%
2024
70.8%
2024
Exports of goods and services, % of GDP
15.9%
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.

Guatemala Solomon Islands
Economic freedom 63.5 53.7
Economic freedom ranking 79/197 137/197
Property rights 39.1 55.8
Government integrity 25.2 42.7
Judicial effectiveness 26.1 59.1
Tax burden 91.3 71.3
Government spending 94.3 54.6
Fiscal health 95.9 83.3
Business freedom 65.7 52.3
Labor freedom 52.5 60.4
Monetary freedom 77.3 76.5
Trade freedom 74.6 43.6
Investment freedom 70 15
Financial freedom 50 30

Economic freedom comparison by year

Guatemala
Solomon Islands
1x
Year Economic freedom index
Guatemala Solomon Islands
2026 63.5 53.7
2025 63.4 56.3
2024 62.4 55
2023 62.7 56.9
2022 63.2 56.5
2021 64 56.5
2020 64 52.9
2019 62.6 54.6
2018 63.4 57.5
2017 63 55
2016 61.8 47
2015 60.4 47
2014 61.2 46.2
2013 60 45
2012 60.9 46.2
2011 61.9 45.9
2010 61 42.9
2009 59.4 46
2008 59.8 -
2007 60.5 -
2006 59.1 -
2005 59.5 -
2004 59.6 -
2003 62.3 -
2002 62.3 -
2001 65.1 -
2000 64.3 -
1999 66.2 -
1998 65.8 -
1997 65.7 -
1996 63.7 -
1995 62 -

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

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

The Economic Freedom Index for Guatemala is 63.5, ranking 79/197, 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

Guatemala Solomon Islands
Services, % of GDP
61.8%
2024
46.9%
2024
Industry, % of GDP
21.7%
2024
23.4%
2024
Agriculture, forestry, and fishing, % of GDP
9.78%
2024
29.7%
2024
GNI, Atlas method
$106B
2024
$1.57B
2024
GNI per capita, PPP
$14,170
2024
$2,680
2024
Total reserves including gold
$24.4B
2024
$688M
2023
Total reserves ranking
57/177
2024
149/177
2023
Net foreign direct investment
-$983M
2024
$19.9M
2024
Net inflows of foreign direct investment
$1.85B
2024
$33M
2024
Net outflows of foreign direct investment
$865M
2024
$52.9M
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
1.64%
2024
Poverty at national poverty lines
56%
2023
12.7%
2012
Gross capital formation, % of GDP
16.7%
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/guatemala/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 (1995–1999, 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.