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Economy of Luxembourg vs Solomon Islands compared: GDP & Debt

Updated on by Georank team

Luxembourg has a GDP of $93.3B compared to $1.58B for the Solomon Islands, ranking 74/197 and 182/197 by economy size, respectively.

Luxembourg has $24.5B in government debt (26.3% of GDP), compared to $350M (22.1% of GDP) in the Solomon Islands.

Luxembourg vs Solomon Islands GDP by year

Luxembourg
Solomon Islands
1x
Year GDP, current $
Luxembourg Solomon Islands
2024 $93,279,851,863 $1,583,964,704
2023 $88,788,881,539 $1,506,124,566
2022 $80,801,680,397 $1,466,670,930
2021 $86,386,759,695 $1,558,312,104
2020 $73,670,782,100 $1,536,143,428
2019 $69,872,035,114 $1,619,150,564
2018 $71,085,623,495 $1,615,473,250
2017 $65,712,180,343 $1,469,790,526
2016 $62,216,885,436 $1,379,486,291
2015 $60,071,584,216 $1,307,908,814
2014 $68,804,811,898 $1,335,576,763
2013 $65,203,276,467 $1,285,905,958
2012 $59,776,383,527 $1,185,217,634
2011 $61,696,281,326 $1,063,898,227
2010 $56,213,985,987 $898,128,551
2009 $54,467,289,898 $805,557,289
2008 $58,844,277,702 $776,335,523
2007 $51,587,401,416 $695,291,218
2006 $42,910,146,296 $617,257,458
2005 $37,672,280,120 $552,881,357
2004 $35,064,843,793 $468,000,121
2003 $29,667,268,248 $417,666,639
2002 $23,649,833,332 $346,406,739
2001 $21,387,533,703 $409,508,553
2000 $21,230,182,989 $419,842,674
1999 $21,899,317,599 $488,024,514
1998 $20,150,053,345 $457,579,840
1997 $19,563,836,265 $526,554,006
1996 $20,895,314,658 $510,586,430
1995 $20,853,093,870 $469,443,202
1994 $17,701,798,891 $402,837,005
1993 $15,925,521,222 $300,746,361
1992 $15,518,702,635 $269,034,596
1991 $13,834,219,728 $227,540,473
1990 $12,778,792,854 $214,877,667
1989 $10,037,674,038 $172,882,411
1988 $9,418,167,855 $176,494,394
1987 $8,320,902,215 $155,128,542
1986 $6,685,595,088 $147,620,048
1985 $4,577,211,767 $165,524,943
1984 $4,438,435,493 $181,570,474
1983 $4,524,217,751 $181,220,399
1982 $4,602,316,793 $192,902,019
1981 $5,053,665,797 $193,750,541
1980 $6,019,805,490 $182,852,107
1979 $5,516,982,664 $151,276,496
1978 $4,718,539,772 $111,027,427
1977 $3,789,321,328 $93,145,283
1976 $3,423,586,207 $83,100,834
1975 $3,123,333,333 $74,620,320
1974 $3,183,637,117 $84,539,332
1973 $2,609,875,802 $55,272,109
1972 $1,901,697,370 $40,606,712
1971 $1,518,773,421 $50,056,883
1970 $1,457,768,455 -
1969 $1,245,432,991 $28,606,411
1968 $1,075,561,623 $28,084,253
1967 $983,052,315 $25,203,524
1966 $976,717,015 -
1965 $929,477,285 -
1964 $910,877,686 -
1963 $797,902,154 -
1962 $747,846,862 -
1961 $710,163,719 -
1960 $709,941,874 -

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

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

GDP per capita in Luxembourg vs Solomon Islands by year

Luxembourg
GDP per capita

GDP per capita, PPP
Solomon Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Luxembourg Solomon Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $137,782 $155,941 $1,934 $2,675
2023 $133,231 $150,508 $1,883 $2,597
2022 $123,720 $146,919 $1,878 $2,496
2021 $134,966 $136,772 $2,043 $2,450
2020 $116,860 $122,067 $2,063 $2,405
2019 $112,697 $121,372 $2,224 $2,512
2018 $116,927 $116,638 $2,278 $2,494
2017 $110,193 $114,986 $2,144 $2,454
2016 $106,899 $113,365 $2,083 $2,421
2015 $105,462 $107,860 $2,045 $2,354
2014 $123,679 $105,296 $2,165 $2,377
2013 $120,000 $100,925 $2,161 $2,394
2012 $112,585 $96,636 $2,066 $2,320
2011 $119,025 $94,475 $1,924 $2,306
2010 $110,886 $90,336 $1,685 $2,182
2009 $109,420 $86,919 $1,555 $2,021
2008 $120,422 $90,971 $1,526 $1,989
2007 $107,475 $85,126 $1,390 $1,869
2006 $90,789 $78,861 $1,256 $1,786
2005 $80,988 $68,788 $1,144 $1,693
2004 $76,545 $64,686 $986 $1,556
2003 $65,689 $60,192 $896 $1,433
2002 $53,006 $58,576 $757 $1,344
2001 $48,440 $56,136 $912 $1,387
2000 $48,660 $55,136 $953 $1,503
1999 $50,872 $49,845 $1,134 $1,754
1998 $47,445 $44,270 $1,092 $1,785
1997 $46,642 $42,488 $1,292 $1,793
1996 $50,444 $39,722 $1,289 $1,830
1995 $51,032 $38,345 $1,220 $1,820
1994 $43,933 $37,551 $1,078 $1,668
1993 $40,067 $35,899 $829 $1,556
1992 $39,571 $34,108 $764 $1,505
1991 $35,747 $33,191 $666 $1,346
1990 $33,465 $29,949 $648 $1,266
1989 $26,618 - $538 -
1988 $25,219 - $567 -
1987 $22,443 - $515 -
1986 $18,150 - $506 -
1985 $12,482 - $586 -
1984 $12,127 - $665 -
1983 $12,374 - $686 -
1982 $12,591 - $756 -
1981 $13,837 - $786 -
1980 $16,531 - $768 -
1979 $15,204 - $658 -
1978 $13,034 - $500 -
1977 $10,486 - $434 -
1976 $9,491 - $401 -
1975 $8,701 - $372 -
1974 $8,967 - $433 -
1973 $7,447 - $291.3 -
1972 $5,487 - $219.5 -
1971 $4,435 - $277.1 -
1970 $4,298 - - -
1969 $3,690 - $165.9 -
1968 $3,203 - $166.9 -
1967 $2,935 - $153.5 -
1966 $2,925 - - -
1965 $2,804 - - -
1964 $2,779 - - -
1963 $2,462 - - -
1962 $2,332 - - -
1961 $2,241 - - -
1960 $2,261 - - -

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

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

Luxembourg's GDP per capita is $137,782, ranking 3/197, compared to $1,934 in the Solomon Islands, ranking 157/197. Adjusted for purchasing power (GDP per capita PPP), Luxembourg ranks 1st at $155,941, while the Solomon Islands ranks 183rd at $2,675.

Economic indicators

Luxembourg Solomon Islands
Gross domestic product
$93.3B
2024
$1.58B
2024
GDP rank
74/197
2024
182/197
2024
GDP growth
0.36%
2023-2024
3%
2023-2024
GDP per capita
$137,782
2024
$1,934
2024
GDP per capita rank
3/197
2024
157/197
2024
GDP per capita, PPP
$155,941
2024
$2,675
2024
GDP per capita PPP rank
1/197
2024
183/197
2024
Government debt
$24.5B
2024
$350M
2024
Debt-to-GDP ratio
26.3%
2024
22.1%
2024
Government debt per person
$36,221
2024
$427
2024
Government debt per person rank
19/185
2024
169/185
2024
Average annual personal income after taxes
$69,593
2026
$1,776
2026
Market capitalization of domestic companies
$41.9B
2024
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
25%
2023
29.2%
2012
Income share by poorest 10%
2.8%
2023
2.8%
2012
Government expenditure, % of GDP
46.9%
2024
35.8%
2024
Consumer prices inflation
2.05%
2023-2024
4.32%
2023-2024
Unemployment rate
6.42%
2024
0.69%
2013
Population
693885
863951

Spending and national debt comparison by year

Luxembourg
Spending

Debt
Solomon Islands
Spending

Debt
1x
Year % of GDP
Luxembourg Solomon Islands
Government spending Government debt Government spending Government debt
2024 46.9% 26.3% 35.8% 22.1%
2023 46.4% 24.7% 40.1% 20.3%
2022 44.3% 24.9% 40.8% 15.5%
2021 42.4% 24.2% 37.8% 15.9%
2020 47% 24.5% 40.4% 12.8%
2019 43.1% 22.3% 35.6% 7.82%
2018 42.3% 20.9% 34.8% 7.95%
2017 41.3% 21.8% 40.4% 8.77%
2016 40% 19.6% 39.6% 7.54%
2015 40.4% 21.1% 41.5% 7.88%
2014 40.6% 21.9% 39.8% 10.1%
2013 41.2% 22.4% 41.8% 11.6%
2012 41.8% 20.8% 29.4% 13.3%
2011 41.5% 18.5% 27% 18.3%
2010 42% 19.1% 23.9% 22.9%
2009 42.7% 15.3% 24.8% 18.9%
2008 37.9% 14.6% 27% 28.9%
2007 37.4% 8.09% 23.7% 33%
2006 39.4% 8.21% 19.9% 42.3%
2005 43.4% 7.95% 17% 44.7%
2004 43.7% 7.83% 14.7% 58.2%
2003 43.3% 7.43% 14.9% 61.3%
2002 41.8% 7.45% 16.7% 65.7%
2001 38.1% 7.62% 18.1% 52.8%
2000 38% 7.49% 18.7% 44.3%
1999 41.7% 8.39% 18.7% 42%
1998 43.9% 9.51% 15.5% 39.5%
1997 44.2% 10.1% 19.3% 25.9%
1996 42.5% 10.2% 24.2% -
1995 42% 10.3% 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).

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

In 2024, Luxembourg's government spending was $43.7B, accounting for 46.9% of its GDP, while the Solomon Islands spent $567M, or 35.8% of GDP.

Debt-to-GDP ratio is 26.3% in Luxembourg and 22.1% in the Solomon Islands, ranking 162/185 and 173/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Solomon Islands
1x
Year Deficit/surplus, % of GDP
Luxembourg Solomon Islands
2024 1.03% -3.08%
2023 -0.78% -3.81%
2022 0.18% -2.51%
2021 1% -1.86%
2020 -3.09% -2.44%
2019 2.68% -1.52%
2018 3.17% 1.49%
2017 1.37% -2.27%
2016 1.89% -3.56%
2015 1.3% 0.81%
2014 1.33% 2.13%
2013 0.84% 3.57%
2012 0.5% 4.63%
2011 0.65% 6.22%
2010 -0.26% 6.02%
2009 -0.21% 2.35%
2008 3.37% 1.94%
2007 4.35% 15.3%
2006 1.9% 13%
2005 -0.21% 13.4%
2004 -1.39% 17%
2003 0.28% 10.6%
2002 2.03% -4.35%
2001 5.62% -2.4%
2000 5.55% -2.93%
1999 3.24% -0.32%
1998 2.98% 5.04%
1997 2.65% 2.14%
1996 2.37% 3.73%
1995 2.71% 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/luxembourg/solomon-islands | CC BY

In 2024, Luxembourg's government surplus, the difference between spending and revenue, was $961M, equivalent to 1.03% of GDP. This compares to the Solomon Islands' deficit of $48.8M, or 3.08% of GDP.

Over the past 30 years, Luxembourg recorded a fiscal deficit in 6 of those years, while the Solomon Islands ran a deficit in 12 years. On average, Luxembourg posted an annual surplus equal to 1.57% of GDP, compared to surplus of 2.72% of GDP for the Solomon Islands.

Inflation comparison by year

Inflation
Luxembourg

Solomon Islands
1x
Year Consumer prices inflation
Luxembourg Solomon Islands
2024 2.05% 4.32%
2023 3.74% 5.89%
2022 6.34% 5.52%
2021 2.53% -0.12%
2020 0.82% 2.96%
2019 1.74% 1.63%
2018 1.53% 3.46%
2017 1.73% 0.49%
2016 0.29% 0.51%
2015 0.47% -0.57%
2014 0.63% 5.17%
2013 1.73% 5.39%
2012 2.66% 5.91%
2011 3.41% 7.34%
2010 2.27% 1.05%
2009 0.37% 7.09%
2008 3.4% 17.3%
2007 2.31% 7.67%
2006 2.67% 11.2%
2005 2.49% 7.33%
2004 2.23% 6.99%
2003 2.05% 8.27%
2002 2.07% 10.9%
2001 2.66% 6.93%
2000 3.15% 7.89%
1999 1.03% 8.02%
1998 0.96% 12.4%
1997 1.37% 8.08%

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

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

Over the past 28 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 6.04% in the Solomon Islands. In 2024, inflation was 2.05% in Luxembourg and 4.32% in the Solomon Islands.

Top exports between countries

Luxembourg
Export category Export value
Machinery & equipment $255K
Solomon Islands
Export category Export value

Balance of trade

Luxembourg Solomon Islands
Current account balance
$4.1B
2024
-$66.2M
2024
Current account balance ranking
35/190
2024
87/190
2024
Current account balance, % of GDP
+4.4%
2024
-4.18%
2024
Goods imports
$29.4B
2024
$609M
2024
Goods exports
$31.3B
2024
$510M
2024
Service imports
$117B
2024
$248M
2024
Service exports
$150B
2024
$133M
2024
Imports of goods and services, % of GDP
159.7%
2024
70.8%
2024
Exports of goods and services, % of GDP
191.5%
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.

Luxembourg Solomon Islands
Economic freedom 79.7 53.7
Economic freedom ranking 7/197 137/197
Property rights 96.6 55.8
Government integrity 88.7 42.7
Judicial effectiveness 99.1 59.1
Tax burden 62.3 71.3
Government spending 36.9 54.6
Fiscal health 98.6 83.3
Business freedom 89.5 52.3
Labor freedom 56.7 60.4
Monetary freedom 74.1 76.5
Trade freedom 79.4 43.6
Investment freedom 95 15
Financial freedom 80 30

Economic freedom comparison by year

Luxembourg
Solomon Islands
1x
Year Economic freedom index
Luxembourg Solomon Islands
2026 79.7 53.7
2025 79.5 56.3
2024 79.2 55
2023 78.4 56.9
2022 80.6 56.5
2021 76 56.5
2020 75.8 52.9
2019 75.9 54.6
2018 76.4 57.5
2017 75.9 55
2016 73.9 47
2015 73.2 47
2014 74.2 46.2
2013 74.2 45
2012 74.5 46.2
2011 76.2 45.9
2010 75.4 42.9
2009 75.2 46
2008 74.7 -
2007 74.6 -
2006 75.3 -
2005 76.3 -
2004 78.9 -
2003 79.9 -
2002 79.4 -
2001 80.1 -
2000 76.4 -
1999 72.4 -
1998 72.7 -
1997 72.8 -
1996 72.5 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Luxembourg is 79.7, ranking 7/197, 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

Luxembourg Solomon Islands
Services, % of GDP
81.2%
2024
46.9%
2024
Industry, % of GDP
9.66%
2024
23.4%
2024
Agriculture, forestry, and fishing, % of GDP
0.21%
2024
29.7%
2024
GNI, Atlas method
$57.3B
2024
$1.57B
2024
GNI per capita, PPP
$110,650
2024
$2,680
2024
Total reserves including gold
$2.79B
2024
$688M
2023
Total reserves ranking
119/177
2024
149/177
2023
Net foreign direct investment
$21.4B
2024
$19.9M
2024
Net inflows of foreign direct investment
$106B
2024
$33M
2024
Net outflows of foreign direct investment
$109B
2024
$52.9M
2024
Servicing debt to the IMF, % of GNI n/a
1.64%
2024
Poverty at national poverty lines
17.3%
2021
12.7%
2012
Gross capital formation, % of GDP
15.8%
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/luxembourg/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 (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  6. LivingCost (2026, retrieved 2025-10-14)
  7. TradeMap (2023, retrieved 2026-02-08)

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.