Papua New Guinea vs the Solomon Islands: Economic Indicators Comparison
Papua New Guinea with a GDP of $23.5B ranked the 114th largest economy in the world, while the Solomon Islands ranked 182nd with $1.4B. By GDP 5-years average growth and GDP per capita, Papua New Guinea and the Solomon Islands ranked 32nd vs 90th and 137th vs 145th, respectively.
Gross Domestic Product & Income
| Stat |  Papua New Guinea |  Solomon Islands |
|---|---|---|
| GDP | $23.5B | $1.4B |
| GDP growth, 1 year | 0% | 3.4% |
| GDP growth, 5-years average | 5% | 3% |
| Population | 8.3M | 611k |
| GDP per capita | $2.7k | $2.1k |
| GDP per capita growth | -2.76% | 1.18% |
| Purchasing Power Parity conversion factor | 2.06 | 7.02 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.63 | 0.88 |
| GDP per capita, PPP adjusted | $3.7k | $2.2k |
| GNI, Atlas method | $22.1B | $1.3B |
| GNI per capita | $2.6k | $2k |
| GNI, PPP adjusted | $36.3B | $1.5B |
| GNI per capita, PPP adjusted | $4.2k | $2.3k |
Financial system and Human development
| Stat | Papua New Guinea | Solomon Islands |
|---|---|---|
| Income Tax Rate | 42% | 40% |
| Corporate Tax Rate | 30% | 30% |
| Inflation, consumer prices | 4.7% | 1% |
| Inflation, GDP deflator | 7.1% | 3.5% |
| Unemployment | 2.4% | 1.8% |
| Economic Freedom Index | 58.4 | 52.9 |
| Personal Freedom Index | 7.24 | 6.1 |
| Human Freedom Index | 6.99 | 6.1 |
| Property Rights Index | 54.9 | 54.6 |
| Judical Effectiveness Index | 48.4 | 53.7 |
| Business Freedom Index | 58.4 | 67.7 |
| Fiscal Health Index | 76.4 | 76.6 |
| Labor Freedom Index | 69.6 | 72 |
| Investment Freedom Index | 25 | 15 |
| Financial Freedom Index | 30 | 30 |
| Trade Freedom Index | 79.8 | 48 |
| Monetary Freedom Index | 70.7 | 84.3 |
| Government Spending Index | 86.4 | 34.2 |
| Tax Burden Index | 71.5 | 65.6 |
| Government Integrity Index | 29.7 | 33.5 |
| Corruption Perceptions Index | 28 | 44 |
| Life expectancy at birth, years | 64 | 72.6 |
| Suicide mortality rate, per 100,000 people | 6 | 4.7 |
| Mortality caused by road traffic injury, per 100,000 people | 14.2 | 17.4 |
| Intentional homicides, per 100,000 people | 7.9 | 3.8 |
| International tourism, number of arrivals | 140k | 28k |
Government debt & reserves
| Stat | Papua New Guinea | Solomon Islands |
|---|---|---|
| Central government debt, % of GDP | 36.9% | 12.1% |
| External debt stocks, % of GNI | 78.4% | 29.1% |
| External debt stocks | $17.7B | $388.5M |
| Short-term debt, % of total reserves | 20.6% | 7% |
| Total debt service, % of exports and primary income | 26.1% | 5.6% |
| Adjusted net savings including particulate emission damage, % of GNI | 4.9% | -13.3% |
| Gross savings, % of GDP | 30.4% | 3.2% |
| Gross capital formation, % of GDP | 20% | 14.6% |
| Total reserves including gold | $2.2B | $617.1M |
| Foreign direct investment net inflows | $335.2M | $12.1M |
Exports, imports and economic structure
| Stat | Papua New Guinea | Solomon Islands |
|---|---|---|
| Exports of goods and services, % of GDP | 72.2% | 45.1% |
| Imports of goods and services, % of GDP | 58.9% | 53.3% |
| Current account balance (balance of payments) | $5.5B | -$50.6M |
| Revenue excluding grants, % of GDP | 15.9% | 33.8% |
| Grants excluding technical cooperation, BoP | $268.9M | $153.5M |
| Personal remittances received | $2.9M | $19.3M |
| Industry including construction value added, % of GDP | 36.4% | N/A |
| Agriculture, forestry and fishing value added, % of GDP | 17.6% | 35% |
| Charges for the use of intellectual property, payments BoP | $139k | $4.4M |
| Charges for the use of intellectual property, receipts BoP | N/A | $599k |
| Expense, % of GDP | 19.1% | 31.9% |
| Government Expenditure, % of GDP | 21.3% | 46.8% |
