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Economy of Saudi Arabia vs Solomon Islands compared: GDP & Debt

Updated on by Georank team

Saudi Arabia has a GDP of $1.24T compared to $1.58B for the Solomon Islands, ranking 18/197 and 182/197 by economy size, respectively.

Saudi Arabia has $324B in government debt (26.2% of GDP), compared to $350M (22.1% of GDP) in the Solomon Islands.

Saudi Arabia vs Solomon Islands GDP by year

Saudi Arabia
Solomon Islands
1x
Year GDP, current $
Saudi Arabia Solomon Islands
2024 $1,239,804,533,333 $1,583,964,704
2023 $1,218,584,533,333 $1,506,124,566
2022 $1,239,075,200,000 $1,466,670,930
2021 $982,661,066,667 $1,558,312,104
2020 $767,951,200,000 $1,536,143,428
2019 $888,890,133,333 $1,619,150,564
2018 $886,564,800,000 $1,615,473,250
2017 $741,266,133,333 $1,469,790,526
2016 $689,279,466,667 $1,379,486,291
2015 $693,414,400,000 $1,307,908,814
2014 $787,153,066,667 $1,335,576,763
2013 $769,755,733,333 $1,285,905,958
2012 $751,921,333,333 $1,185,217,634
2011 $680,660,800,000 $1,063,898,227
2010 $528,207,466,667 $898,128,551
2009 $429,097,866,667 $805,557,289
2008 $519,796,800,000 $776,335,523
2007 $415,964,509,673 $695,291,218
2006 $376,900,133,511 $617,257,458
2005 $328,459,608,764 $552,881,357
2004 $258,742,133,333 $468,000,121
2003 $215,807,733,333 $417,666,639
2002 $189,605,866,667 $346,406,739
2001 $184,137,600,000 $409,508,553
2000 $189,514,933,333 $419,842,674
1999 $161,717,066,667 $488,024,514
1998 $146,775,466,667 $457,579,840
1997 $165,963,684,913 $526,554,006
1996 $158,662,483,311 $510,586,430
1995 $143,343,124,166 $469,443,202
1994 $135,174,899,866 $402,837,005
1993 $132,967,957,276 $300,746,361
1992 $137,087,850,467 $269,034,596
1991 $132,223,230,975 $227,540,473
1990 $117,630,173,565 $214,877,667
1989 $95,344,459,279 $172,882,411
1988 $88,256,074,766 $176,494,394
1987 $85,695,861,148 $155,128,542
1986 $86,961,922,765 $147,620,048
1985 $103,897,846,494 $165,524,943
1984 $119,624,858,116 $181,570,474
1983 $129,171,635,311 $181,220,399
1982 $153,240,313,858 $192,902,019
1981 $184,291,360,139 $193,750,541
1980 $164,539,660,725 $182,852,107
1979 $111,858,444,786 $151,276,496
1978 $80,266,516,687 $111,027,427
1977 $74,188,986,586 $93,145,283
1976 $64,005,665,722 $83,100,834
1975 $46,773,208,643 $74,620,320
1974 $45,412,957,746 $84,539,332
1973 $14,947,435,499 $55,272,109
1972 $9,664,267,087 $40,606,712
1971 $7,184,806,909 $50,056,883
1970 $5,377,333,333 -
1969 $4,485,777,644 $28,606,411
1968 $4,187,777,711 $28,084,253
1967 $3,257,022,223 $25,203,524
1966 $2,920,555,557 -
1965 $2,647,955,558 -
1964 $2,371,808,713 -
1963 $2,207,393,172 -
1962 $2,130,606,532 -
1961 $1,920,811,284 -
1960 $1,748,124,064 -

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

GeoRank.org/economy/saudi-arabia/solomon-islands | CC BY

GDP per capita in Saudi Arabia vs Solomon Islands by year

Saudi Arabia
GDP per capita

GDP per capita, PPP
Solomon Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Saudi Arabia Solomon Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $35,122 $71,375 $1,934 $2,675
2023 $36,157 $71,565 $1,883 $2,597
2022 $38,510 $71,968 $1,878 $2,496
2021 $31,921 $62,690 $2,043 $2,450
2020 $24,339 $47,518 $2,063 $2,405
2019 $29,567 $59,560 $2,224 $2,512
2018 $29,360 $59,378 $2,278 $2,494
2017 $23,929 $53,120 $2,144 $2,454
2016 $22,268 $49,937 $2,083 $2,421
2015 $23,256 $53,931 $2,045 $2,354
2014 $27,805 $62,578 $2,165 $2,377
2013 $27,865 $62,203 $2,161 $2,394
2012 $28,733 $65,034 $2,066 $2,320
2011 $27,127 $64,125 $1,924 $2,306
2010 $22,028 $58,829 $1,685 $2,182
2009 $17,718 $54,787 $1,555 $2,021
2008 $22,320 $57,236 $1,526 $1,989
2007 $18,596 $55,030 $1,390 $1,869
2006 $17,564 $54,639 $1,256 $1,786
2005 $15,976 $53,548 $1,144 $1,693
2004 $13,154 $51,225 $986 $1,556
2003 $11,487 $48,078 $896 $1,433
2002 $10,586 $45,466 $757 $1,344
2001 $10,805 $47,381 $912 $1,387
2000 $11,715 $48,644 $953 $1,503
1999 $10,452 $47,495 $1,134 $1,754
1998 $9,836 $48,867 $1,092 $1,785
1997 $11,545 $48,796 $1,292 $1,793
1996 $11,472 $48,569 $1,289 $1,830
1995 $10,786 $48,052 $1,220 $1,820
1994 $10,602 $48,904 $1,078 $1,668
1993 $10,885 $49,503 $829 $1,556
1992 $11,730 $50,355 $764 $1,505
1991 $11,847 $49,295 $666 $1,346
1990 $11,055 $46,214 $648 $1,266
1989 $9,414 - $538 -
1988 $9,165 - $567 -
1987 $9,386 - $515 -
1986 $10,078 - $506 -
1985 $12,745 - $586 -
1984 $15,541 - $665 -
1983 $17,810 - $686 -
1982 $22,454 - $756 -
1981 $28,703 - $786 -
1980 $27,206 - $768 -
1979 $19,612 - $658 -
1978 $14,914 - $500 -
1977 $14,595 - $434 -
1976 $13,313 - $401 -
1975 $10,266 - $372 -
1974 $10,503 - $433 -
1973 $3,640 - $291.3 -
1972 $2,474 - $219.5 -
1971 $1,929 - $277.1 -
1970 $1,509 - - -
1969 $1,313 - $165.9 -
1968 $1,276 - $166.9 -
1967 $1,032 - $153.5 -
1966 $961 - - -
1965 $904 - - -
1964 $840 - - -
1963 $812 - - -
1962 $813 - - -
1961 $760 - - -
1960 $718 - - -

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

GeoRank.org/economy/saudi-arabia/solomon-islands | CC BY

Saudi Arabia's GDP per capita is $35,122, ranking 33/197, compared to $1,934 in the Solomon Islands, ranking 157/197. Adjusted for purchasing power (GDP per capita PPP), Saudi Arabia ranks 24th at $71,375, while the Solomon Islands ranks 183rd at $2,675.

Economic indicators

Saudi Arabia Solomon Islands
Gross domestic product
$1.24T
2024
$1.58B
2024
GDP rank
18/197
2024
182/197
2024
GDP growth
2%
2023-2024
3%
2023-2024
GDP per capita
$35,122
2024
$1,934
2024
GDP per capita rank
33/197
2024
157/197
2024
GDP per capita, PPP
$71,375
2024
$2,675
2024
GDP per capita PPP rank
24/197
2024
183/197
2024
Government debt
$324B
2024
$350M
2024
Debt-to-GDP ratio
26.2%
2024
22.1%
2024
Government debt per person
$9,185
2024
$427
2024
Government debt per person rank
58/185
2024
169/185
2024
Average annual personal income after taxes
$23,076
2026
$1,776
2026
Market capitalization of domestic companies
$2.73T
2024
n/a
Number of millionaires
351,855
2025
n/a
Number of billionaires
15
2025
n/a
Income share by richest 10% n/a
29.2%
2012
Income share by poorest 10% n/a
2.8%
2012
Government expenditure, % of GDP
29.6%
2024
35.8%
2024
Consumer prices inflation
1.69%
2023-2024
4.32%
2023-2024
Central bank interest rate
4.25%
2025
n/a
Unemployment rate
3.52%
2024
0.69%
2013
Population
36734925
863951

Spending and national debt comparison by year

Saudi Arabia
Spending

Debt
Solomon Islands
Spending

Debt
1x
Year % of GDP
Saudi Arabia Solomon Islands
Government spending Government debt Government spending Government debt
2024 29.6% 26.2% 35.8% 22.1%
2023 28.3% 23% 40.1% 20.3%
2022 25.3% 21.3% 40.8% 15.5%
2021 28.2% 25.5% 37.8% 15.9%
2020 37.4% 29.7% 40.4% 12.8%
2019 31.8% 20.3% 35.6% 7.82%
2018 32.4% 16.8% 34.8% 7.95%
2017 30.9% 15.9% 40.4% 8.77%
2016 33.3% 12.2% 39.6% 7.54%
2015 38.5% 5.47% 41.5% 7.88%
2014 38.6% 1.5% 39.8% 10.1%
2013 34.5% 2.08% 41.8% 11.6%
2012 32.5% 2.97% 29.4% 13.3%
2011 32.4% 5.31% 27% 18.3%
2010 33% 8.43% 23.9% 22.9%
2009 37.1% 14% 24.8% 18.9%
2008 26.7% 12.1% 27% 28.9%
2007 29.5% 17.1% 23.7% 33%
2006 27.3% 25.8% 19.9% 42.3%
2005 28.2% 37.3% 17% 44.7%
2004 31.1% 62.9% 14.7% 58.2%
2003 33.1% 81.6% 14.9% 61.3%
2002 35.9% 96.4% 16.7% 65.7%
2001 36.9% 93.1% 18.1% 52.8%
2000 33.1% 86.7% 18.7% 44.3%
1999 30.3% 103% 18.7% 42%
1998 34.5% 101.5% 15.5% 39.5%
1997 35.6% 76.7% 19.3% 25.9%
1996 33.3% 75.2% 24.2% -
1995 32.4% 74.2% 24.7% -
1994 33.8% 67.9% 30.2% -
1993 37.7% 58.6% 33.2% -
1992 41.2% 47.8% 35.1% -
1991 34.9% 39.4% 39.4% -
1990 39.3% - 30% -

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

GeoRank.org/economy/saudi-arabia/solomon-islands | CC BY

In 2024, Saudi Arabia's government spending was $367B, accounting for 29.6% of its GDP, while the Solomon Islands spent $567M, or 35.8% of GDP.

Debt-to-GDP ratio is 26.2% in Saudi Arabia and 22.1% in the Solomon Islands, ranking 163/185 and 173/185, respectively.

Government deficit by year

Deficit/surplus
Saudi Arabia

Solomon Islands
1x
Year Deficit/surplus, % of GDP
Saudi Arabia Solomon Islands
2024 -2.49% -3.08%
2023 -1.77% -3.81%
2022 2.24% -2.51%
2021 -1.99% -1.86%
2020 -10.2% -2.44%
2019 -3.96% -1.52%
2018 -5.21% 1.49%
2017 -8.57% -2.27%
2016 -13.2% -3.56%
2015 -14.9% 0.81%
2014 -3.4% 2.13%
2013 5.47% 3.57%
2012 11.7% 4.63%
2011 11.4% 6.22%
2010 4.39% 6.02%
2009 -5.38% 2.35%
2008 29.8% 1.94%
2007 11.8% 15.3%
2006 20.8% 13%
2005 18% 13.4%
2004 9.72% 17%
2003 1.2% 10.6%
2002 -5.91% -4.35%
2001 -3.91% -2.4%
2000 3.18% -2.93%
1999 -5.99% -0.32%
1998 -8.88% 5.04%
1997 -2.51% 2.14%
1996 -3.25% 3.73%
1995 -5.12% 3.19%
1994 -8.31% 4.33%
1993 -9.33% 2.45%
1992 -8.12% 4.13%
1991 -3.28% 0.14%
1990 - 0.58%

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

GeoRank.org/economy/saudi-arabia/solomon-islands | CC BY

In 2024, Saudi Arabia's government deficit, the difference between spending and revenue, was $30.9B, equivalent to 2.49% of GDP. This compares to the Solomon Islands' deficit of $48.8M, or 3.08% of GDP.

Over the past 34 years, Saudi Arabia recorded a fiscal deficit in 22 of those years, while the Solomon Islands ran a deficit in 12 years. On average, Saudi Arabia posted an annual deficit equal to 0.18% of GDP, compared to surplus of 2.72% of GDP for the Solomon Islands.

Inflation comparison by year

Inflation
Saudi Arabia

Solomon Islands
1x
Year Consumer prices inflation
Saudi Arabia Solomon Islands
2024 1.69% 4.32%
2023 2.33% 5.89%
2022 2.47% 5.52%
2021 3.06% -0.12%
2020 3.37% 2.96%
2019 -1.19% 1.63%
2018 2.47% 3.46%
2017 -0.83% 0.49%
2016 2.05% 0.51%
2015 1.22% -0.57%
2014 2.24% 5.17%
2013 3.51% 5.39%
2012 2.87% 5.91%
2011 5.83% 7.34%
2010 5.34% 1.05%
2009 5.06% 7.09%
2008 9.87% 17.3%
2007 4.17% 7.67%
2006 2.21% 11.2%
2005 0.48% 7.33%
2004 0.52% 6.99%
2003 0.61% 8.27%
2002 0.25% 10.9%
2001 -1.12% 6.93%
2000 -1.12% 7.89%
1999 -1.33% 8.02%
1998 -0.37% 12.4%
1997 0.06% 8.08%

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

GeoRank.org/economy/saudi-arabia/solomon-islands | CC BY

Over the past 28 years, Saudi Arabia has recorded an average annual inflation rate of 1.99%, compared with 6.04% in the Solomon Islands. In 2024, inflation was 1.69% in Saudi Arabia and 4.32% in the Solomon Islands.

Top exports between countries

Saudi Arabia
Export category Export value
Chemicals & pharma $31K
Solomon Islands
Export category Export value

Balance of trade

Saudi Arabia Solomon Islands
Current account balance
-$16.3B
2024
-$66.2M
2024
Current account balance ranking
180/190
2024
87/190
2024
Current account balance, % of GDP
-1.31%
2024
-4.18%
2024
Goods imports
$214B
2024
$609M
2024
Goods exports
$306B
2024
$510M
2024
Service imports
$125B
2024
$248M
2024
Service exports
$62.8B
2024
$133M
2024
Imports of goods and services, % of GDP
25.6%
2024
70.8%
2024
Exports of goods and services, % of GDP
29.1%
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.

Saudi Arabia Solomon Islands
Economic freedom 65.4 53.7
Economic freedom ranking 65/197 137/197
Property rights 51.4 55.8
Government integrity 52.7 42.7
Judicial effectiveness 38.2 59.1
Tax burden 99.2 71.3
Government spending 77 54.6
Fiscal health 97.9 83.3
Business freedom 71.2 52.3
Labor freedom 41.8 60.4
Monetary freedom 81.2 76.5
Trade freedom 73.8 43.6
Investment freedom 50 15
Financial freedom 50 30

Economic freedom comparison by year

Saudi Arabia
Solomon Islands
1x
Year Economic freedom index
Saudi Arabia Solomon Islands
2026 65.4 53.7
2025 64.4 56.3
2024 61.9 55
2023 58.3 56.9
2022 55.5 56.5
2021 66 56.5
2020 62.4 52.9
2019 60.7 54.6
2018 59.6 57.5
2017 64.4 55
2016 62.1 47
2015 62.1 47
2014 62.2 46.2
2013 60.6 45
2012 62.5 46.2
2011 66.2 45.9
2010 64.1 42.9
2009 64.3 46
2008 62.5 -
2007 60.9 -
2006 63 -
2005 63 -
2004 60.4 -
2003 63.2 -
2002 65.3 -
2001 62.2 -
2000 66.5 -
1999 65.5 -
1998 69.3 -
1997 68.7 -
1996 68.3 -

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

GeoRank.org/economy/saudi-arabia/solomon-islands | CC BY

The Economic Freedom Index for Saudi Arabia is 65.4, ranking 65/197, 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

Saudi Arabia Solomon Islands
Services, % of GDP
47.1%
2024
46.9%
2024
Industry, % of GDP
44.9%
2024
23.4%
2024
Agriculture, forestry, and fishing, % of GDP
2.54%
2024
29.7%
2024
GNI, Atlas method
$1.26T
2024
$1.57B
2024
GNI per capita, PPP
$71,730
2024
$2,680
2024
Total reserves including gold
$464B
2024
$688M
2023
Total reserves ranking
7/177
2024
149/177
2023
Net foreign direct investment
$6.27B
2024
$19.9M
2024
Net inflows of foreign direct investment
$21.3B
2024
$33M
2024
Net outflows of foreign direct investment
$27.6B
2024
$52.9M
2024
Servicing debt to the IMF, % of GNI n/a
1.64%
2024
Poverty at national poverty lines n/a
12.7%
2012
Gross capital formation, % of GDP
30.2%
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/saudi-arabia/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 (2020, 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.