Skip to content

Economy of Russia vs Solomon Islands compared: GDP & Debt

Updated on by Georank team

Russia has a GDP of $2.17T compared to $1.58B for the Solomon Islands, ranking 11/197 and 182/197 by economy size, respectively.

Russia has $440B in government debt (20.3% of GDP), compared to $350M (22.1% of GDP) in the Solomon Islands.

Russia vs Solomon Islands GDP by year

Russia
Solomon Islands
1x
Year GDP, current $
Russia Solomon Islands
2024 $2,173,835,806,672 $1,583,964,704
2023 $2,071,505,725,031 $1,506,124,566
2022 $2,291,612,121,335 $1,466,670,930
2021 $1,829,186,719,575 $1,558,312,104
2020 $1,493,075,894,362 $1,536,143,428
2019 $1,693,115,002,708 $1,619,150,564
2018 $1,657,328,773,461 $1,615,473,250
2017 $1,574,199,360,089 $1,469,790,526
2016 $1,276,786,350,881 $1,379,486,291
2015 $1,363,482,182,198 $1,307,908,814
2014 $2,059,241,589,895 $1,335,576,763
2013 $2,292,470,078,346 $1,285,905,958
2012 $2,208,293,553,878 $1,185,217,634
2011 $2,045,922,753,398 $1,063,898,227
2010 $1,524,916,715,224 $898,128,551
2009 $1,222,645,900,056 $805,557,289
2008 $1,660,848,058,303 $776,335,523
2007 $1,299,703,478,482 $695,291,218
2006 $989,932,071,353 $617,257,458
2005 $764,015,973,481 $552,881,357
2004 $591,016,690,732 $468,000,121
2003 $430,347,420,185 $417,666,639
2002 $345,470,494,418 $346,406,739
2001 $306,602,070,621 $409,508,553
2000 $259,710,142,197 $419,842,674
1999 $195,907,128,351 $488,024,514
1998 $270,955,486,862 $457,579,840
1997 $404,928,954,192 $526,554,006
1996 $391,724,890,744 $510,586,430
1995 $395,537,185,735 $469,443,202
1994 $395,077,301,248 $402,837,005
1993 $435,083,713,851 $300,746,361
1992 $460,290,556,901 $269,034,596
1991 $517,962,962,963 $227,540,473
1990 $517,014,446,228 $214,877,667
1989 $506,631,299,735 $172,882,411
1988 $554,828,660,436 $176,494,394
1987 - $155,128,542
1986 - $147,620,048
1985 - $165,524,943
1984 - $181,570,474
1983 - $181,220,399
1982 - $192,902,019
1981 - $193,750,541
1980 - $182,852,107
1979 - $151,276,496
1978 - $111,027,427
1977 - $93,145,283
1976 - $83,100,834
1975 - $74,620,320
1974 - $84,539,332
1973 - $55,272,109
1972 - $40,606,712
1971 - $50,056,883
1970 - -
1969 - $28,606,411
1968 - $28,084,253
1967 - $25,203,524

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

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

GDP per capita in Russia vs Solomon Islands by year

Russia
GDP per capita

GDP per capita, PPP
Solomon Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Russia Solomon Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $15,145 $47,405 $1,934 $2,675
2023 $14,403 $44,269 $1,883 $2,597
2022 $15,888 $40,939 $1,878 $2,496
2021 $12,637 $38,638 $2,043 $2,450
2020 $10,280 $31,491 $2,063 $2,405
2019 $11,640 $30,964 $2,224 $2,512
2018 $11,399 $28,629 $2,278 $2,494
2017 $10,835 $25,778 $2,144 $2,454
2016 $8,804 $24,012 $2,083 $2,421
2015 $9,427 $23,994 $2,045 $2,354
2014 $14,277 $25,688 $2,165 $2,377
2013 $15,941 $26,020 $2,161 $2,394
2012 $15,402 $24,274 $2,066 $2,320
2011 $14,305 $22,790 $1,924 $2,306
2010 $10,675 $20,490 $1,685 $2,182
2009 $8,563 $19,390 $1,555 $2,021
2008 $11,635 $20,164 $1,526 $1,989
2007 $9,101 $16,648 $1,390 $1,869
2006 $6,920 $14,912 $1,256 $1,786
2005 $5,323 $11,822 $1,144 $1,693
2004 $4,102 $10,227 $986 $1,556
2003 $2,975 $9,255 $896 $1,433
2002 $2,378 $8,037 $757 $1,344
2001 $2,100 $7,361 $912 $1,387
2000 $1,772 $6,825 $953 $1,503
1999 $1,331 $5,914 $1,134 $1,754
1998 $1,835 $5,465 $1,092 $1,785
1997 $2,738 $5,700 $1,292 $1,793
1996 $2,644 $5,518 $1,289 $1,830
1995 $2,666 $5,613 $1,220 $1,820
1994 $2,662 $5,734 $1,078 $1,668
1993 $2,931 $6,420 $829 $1,556
1992 $3,099 $6,862 $764 $1,505
1991 $3,490 $7,858 $666 $1,346
1990 $3,494 $8,028 $648 $1,266
1989 $3,430 - $538 -
1988 $3,778 - $567 -
1987 - - $515 -
1986 - - $506 -
1985 - - $586 -
1984 - - $665 -
1983 - - $686 -
1982 - - $756 -
1981 - - $786 -
1980 - - $768 -
1979 - - $658 -
1978 - - $500 -
1977 - - $434 -
1976 - - $401 -
1975 - - $372 -
1974 - - $433 -
1973 - - $291.3 -
1972 - - $219.5 -
1971 - - $277.1 -
1970 - - - -
1969 - - $165.9 -
1968 - - $166.9 -
1967 - - $153.5 -

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

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

Russia's GDP per capita is $15,145, ranking 68/197, compared to $1,934 in the Solomon Islands, ranking 157/197. Adjusted for purchasing power (GDP per capita PPP), Russia ranks 50th at $47,405, while the Solomon Islands ranks 183rd at $2,675.

Economic indicators

Russia Solomon Islands
Gross domestic product
$2.17T
2024
$1.58B
2024
GDP rank
11/197
2024
182/197
2024
GDP growth
4.34%
2023-2024
3%
2023-2024
GDP per capita
$15,145
2024
$1,934
2024
GDP per capita rank
68/197
2024
157/197
2024
GDP per capita, PPP
$47,405
2024
$2,675
2024
GDP per capita PPP rank
50/197
2024
183/197
2024
Government debt
$440B
2024
$350M
2024
Debt-to-GDP ratio
20.3%
2024
22.1%
2024
Government debt per person
$3,067
2024
$427
2024
Government debt per person rank
98/185
2024
169/185
2024
Average annual personal income after taxes
$10,464
2026
$1,776
2026
Market capitalization of domestic companies
$650B
2023
n/a
Number of millionaires
426,000
2025
n/a
Number of billionaires
140
2025
n/a
Income share by richest 10%
25.1%
2023
29.2%
2012
Income share by poorest 10%
3.1%
2023
2.8%
2012
Government expenditure, % of GDP
36.9%
2024
35.8%
2024
Consumer prices inflation
8.4%
2023-2024
4.32%
2023-2024
Central bank interest rate
16%
2025
n/a
Unemployment rate
2.43%
2024
0.69%
2013
Population
141906741
863951

Spending and national debt comparison by year

Russia
Spending

Debt
Solomon Islands
Spending

Debt
1x
Year % of GDP
Russia Solomon Islands
Government spending Government debt Government spending Government debt
2024 36.9% 20.3% 35.8% 22.1%
2023 35.7% 19.5% 40.1% 20.3%
2022 35.2% 18.5% 40.8% 15.5%
2021 34.9% 16.5% 37.8% 15.9%
2020 39.2% 19.2% 40.4% 12.8%
2019 33.8% 13.7% 35.6% 7.82%
2018 32.6% 13.6% 34.8% 7.95%
2017 34.8% 14.3% 40.4% 8.77%
2016 36.6% 14.8% 39.6% 7.54%
2015 35.3% 15.3% 41.5% 7.88%
2014 34.9% 15.1% 39.8% 10.1%
2013 34.7% 12.3% 41.8% 11.6%
2012 34% 11.2% 29.4% 13.3%
2011 33.3% 10.3% 27% 18.3%
2010 35.5% 10.1% 23.9% 22.9%
2009 38.6% 9.92% 24.8% 18.9%
2008 32% 7.45% 27% 28.9%
2007 31.9% 8.03% 23.7% 33%
2006 29% 9.8% 19.9% 42.3%
2005 29.5% 14.9% 17% 44.7%
2004 29.6% 20.8% 14.7% 58.2%
2003 32.6% 28.3% 14.9% 61.3%
2002 33.8% 37.6% 16.7% 65.7%
2001 31.5% 44.4% 18.1% 52.8%
2000 30.7% 55.9% 18.7% 44.3%
1999 34.3% 92.4% 18.7% 42%
1998 39.7% 135.2% 15.5% 39.5%
1997 - 51.5% 19.3% 25.9%
1996 - 51.9% 24.2% -
1995 - 53.7% 24.7% -
1994 - 63.5% 30.2% -
1993 - 92.4% 33.2% -
1992 - 116% 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 (1992–1996, retrieved 2026-02-20).

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

In 2024, Russia's government spending was $802B, accounting for 36.9% of its GDP, while the Solomon Islands spent $567M, or 35.8% of GDP.

Debt-to-GDP ratio is 20.3% in Russia and 22.1% in the Solomon Islands, ranking 175/185 and 173/185, respectively.

Government deficit by year

Deficit/surplus
Russia

Solomon Islands
1x
Year Deficit/surplus, % of GDP
Russia Solomon Islands
2024 -1.6% -3.08%
2023 -2.22% -3.81%
2022 -1.34% -2.51%
2021 0.78% -1.86%
2020 -3.99% -2.44%
2019 1.93% -1.52%
2018 2.92% 1.49%
2017 -1.47% -2.27%
2016 -3.67% -3.56%
2015 -3.39% 0.81%
2014 -1.07% 2.13%
2013 -1.16% 3.57%
2012 0.38% 4.63%
2011 1.43% 6.22%
2010 -3.19% 6.02%
2009 -5.89% 2.35%
2008 4.55% 1.94%
2007 5.59% 15.3%
2006 7.8% 13%
2005 7.6% 13.4%
2004 4.57% 17%
2003 1.35% 10.6%
2002 0.67% -4.35%
2001 2.99% -2.4%
2000 3.11% -2.93%
1999 -3.59% -0.32%
1998 -7.42% 5.04%
1997 - 2.14%
1996 - 3.73%
1995 - 3.19%
1994 - 4.33%
1993 - 2.45%
1992 - 4.13%
1991 - 0.14%
1990 - 0.58%
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 0.15% -
1939 0.12% -
1938 0.16% -
1937 0.12% -
1936 0.1% -
1935 0.07% -
1934 0.25% -
1933 0.58% -
1932 0.06% -
1931 -1.12% -
1930 -1.62% -
1929 -0.4% -
1928 -0.4% -
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 0.69% -
1911 1.26% -
1910 1.52% -
1909 -0.15% -
1908 -0.83% -
1907 -0.86% -
1906 -3.19% -
1905 -7.72% -
1904 -5.13% -
1903 1.04% -
1902 -1.57% -
1901 0.14% -
1900 -0.36% -
1899 0.66% -
1898 0.03% -
1897 0.34% -
1896 1.3% -
1895 0.7% -
1894 1.43% -
1893 0.63% -
1892 -1.16% -
1891 -0.97% -
1890 0.01% -
1889 1.34% -
1888 0.88% -
1887 0.14% -
1886 -0.84% -
1885 -0.75% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-02-20).

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

In 2024, Russia's government deficit, the difference between spending and revenue, was $34.9B, equivalent to 1.6% of GDP. This compares to the Solomon Islands' deficit of $48.8M, or 3.08% of GDP.

Over the past 27 years, Russia recorded a fiscal deficit in 13 of those years, while the Solomon Islands ran a deficit in 12 years. On average, Russia posted an annual surplus equal to 0.21% of GDP, compared to surplus of 2.68% of GDP for the Solomon Islands.

Inflation comparison by year

Inflation
Russia

Solomon Islands
1x
Year Consumer prices inflation
Russia Solomon Islands
2024 8.4% 4.32%
2023 5.9% 5.89%
2022 13.7% 5.52%
2021 6.7% -0.12%
2020 3.4% 2.96%
2019 4.5% 1.63%
2018 2.9% 3.46%
2017 3.7% 0.49%
2016 7% 0.51%
2015 15.5% -0.57%
2014 7.8% 5.17%
2013 6.8% 5.39%
2012 5.1% 5.91%
2011 8.4% 7.34%
2010 6.8% 1.05%
2009 11.6% 7.09%
2008 14.1% 17.3%
2007 9% 7.67%
2006 9.7% 11.2%
2005 12.7% 7.33%
2004 10.9% 6.99%
2003 13.7% 8.27%
2002 15.8% 10.9%
2001 21.5% 6.93%
2000 20.8% 7.89%
1999 85.7% 8.02%
1998 27.7% 12.4%
1997 14.8% 8.08%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Russia has recorded an average annual inflation rate of 13.4%, compared with 6.04% in the Solomon Islands. In 2024, inflation was 8.4% in Russia and 4.32% in the Solomon Islands.

Top exports between countries

Russia
Export category Export value
Business & finance services $111K
Transport & tourism services $51K
Solomon Islands
Export category Export value
Animal & marine products $8K

Balance of trade

Russia Solomon Islands
Current account balance
$63.4B
2024
-$66.2M
2024
Current account balance ranking
12/190
2024
87/190
2024
Current account balance, % of GDP
+2.91%
2024
-4.18%
2024
Goods imports
$302B
2024
$609M
2024
Goods exports
$434B
2024
$510M
2024
Service imports
$81.5B
2024
$248M
2024
Service exports
$43.1B
2024
$133M
2024
Imports of goods and services, % of GDP
17.6%
2024
70.8%
2024
Exports of goods and services, % of GDP
21.9%
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.

Russia Solomon Islands
Economic freedom 50.3 53.7
Economic freedom ranking 161/197 137/197
Property rights 18.6 55.8
Government integrity 22.8 42.7
Judicial effectiveness 22.8 59.1
Tax burden 81.9 71.3
Government spending 61.3 54.6
Fiscal health 94.4 83.3
Business freedom 51.4 52.3
Labor freedom 59.1 60.4
Monetary freedom 61.8 76.5
Trade freedom 69.4 43.6
Investment freedom 30 15
Financial freedom 30 30

Economic freedom comparison by year

Russia
Solomon Islands
1x
Year Economic freedom index
Russia Solomon Islands
2026 50.3 53.7
2025 51.6 56.3
2024 52 55
2023 53.8 56.9
2022 56.1 56.5
2021 61.5 56.5
2020 61 52.9
2019 58.9 54.6
2018 58.2 57.5
2017 57.1 55
2016 50.6 47
2015 52.1 47
2014 51.9 46.2
2013 51.1 45
2012 50.5 46.2
2011 50.5 45.9
2010 50.3 42.9
2009 50.8 46
2008 49.8 -
2007 52.2 -
2006 52.4 -
2005 51.3 -
2004 52.8 -
2003 50.8 -
2002 48.7 -
2001 49.8 -
2000 51.8 -
1999 54.5 -
1998 52.8 -
1997 48.6 -
1996 51.6 -
1995 51.1 -

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

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

The Economic Freedom Index for Russia is 50.3, ranking 161/197, 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

Russia Solomon Islands
Services, % of GDP
57.5%
2024
46.9%
2024
Industry, % of GDP
30.7%
2024
23.4%
2024
Agriculture, forestry, and fishing, % of GDP
2.74%
2024
29.7%
2024
GNI, Atlas method
$2.24T
2024
$1.57B
2024
GNI per capita, PPP
$46,780
2024
$2,680
2024
Total reserves including gold
$597B
2023
$688M
2023
Total reserves ranking
6/177
2023
149/177
2023
Net foreign direct investment
$9.37B
2024
$19.9M
2024
Net inflows of foreign direct investment
-$9.35B
2024
$33M
2024
Net outflows of foreign direct investment
-$170M
2024
$52.9M
2024
Servicing debt to the IMF, % of GNI
2.65%
2024
1.64%
2024
Poverty at national poverty lines
12.1%
2020
12.7%
2012
Gross capital formation, % of GDP
26.3%
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/russia/solomon-islands | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2018–2021, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.