The Solomon Islands ranked 182/197 by economy size with a GDP of $1.76B and 153/197 by GDP per capita at $2,149. The Solomon Islands has $388M in government debt, with a debt-to-GDP ratio of 23.7%.
In 2025, the Solomon Islands made up 0.002% of the world's economy, compared to 0.001% in 1967.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1967 | $25,203,524 | - | - |
| 1968 | $28,084,253 | - | 11.4% |
| 1969 | $28,606,411 | - | 1.86% |
| 1970 | - | - | 0% |
| 1971 | $50,056,883 | - | 75% |
| 1972 | $40,606,712 | - | -18.9% |
| 1973 | $55,272,109 | - | 36.1% |
| 1974 | $84,539,332 | - | 53% |
| 1975 | $74,620,320 | - | -11.7% |
| 1976 | $83,100,834 | - | 11.4% |
| 1977 | $93,145,283 | - | 12.1% |
| 1978 | $111,027,427 | - | 19.2% |
| 1979 | $151,276,496 | - | 36.3% |
| 1980 | $182,852,107 | $526,656,506 | 20.9% |
| 1981 | $193,750,541 | $517,192,386 | 5.96% |
| 1982 | $192,902,019 | $508,557,520 | -0.44% |
| 1983 | $181,220,399 | $528,343,417 | -6.06% |
| 1984 | $181,570,474 | $529,242,659 | 0.19% |
| 1985 | $165,524,943 | $512,665,070 | -8.84% |
| 1986 | $147,620,048 | $511,632,408 | -10.8% |
| 1987 | $155,128,542 | $554,718,560 | 5.09% |
| 1988 | $176,494,394 | $561,653,631 | 13.8% |
| 1989 | $172,882,411 | $585,603,984 | -2.05% |
| 1990 | $214,877,667 | $598,487,271 | 24.3% |
| 1991 | $227,540,473 | $634,396,517 | 5.89% |
| 1992 | $269,034,596 | $714,964,863 | 18.2% |
| 1993 | $300,746,361 | $743,563,455 | 11.8% |
| 1994 | $402,837,005 | $803,792,104 | 33.9% |
| 1995 | $469,443,202 | $884,883,597 | 16.5% |
| 1996 | $510,586,430 | $899,129,406 | 8.76% |
| 1997 | $526,554,006 | $890,910,669 | 3.13% |
| 1998 | $457,579,840 | $902,416,890 | -13.1% |
| 1999 | $488,024,514 | $898,033,573 | 6.65% |
| 2000 | $419,842,674 | $769,821,324 | -14% |
| 2001 | $409,508,553 | $708,569,673 | -2.46% |
| 2002 | $346,406,739 | $688,729,844 | -15.4% |
| 2003 | $417,668,983 | $733,658,907 | 20.6% |
| 2004 | $468,005,319 | $790,028,121 | 12.1% |
| 2005 | $552,864,570 | $848,157,142 | 18.1% |
| 2006 | $617,258,154 | $883,256,262 | 11.6% |
| 2007 | $695,295,348 | $915,403,897 | 12.6% |
| 2008 | $776,337,692 | $972,396,664 | 11.7% |
| 2009 | $805,557,563 | $1,000,248,710 | 3.76% |
| 2010 | $898,133,685 | $1,097,356,737 | 11.5% |
| 2011 | $1,063,895,361 | $1,178,889,790 | 18.5% |
| 2012 | $1,185,215,418 | $1,207,961,229 | 11.4% |
| 2013 | $1,285,911,586 | $1,271,231,099 | 8.5% |
| 2014 | $1,335,571,421 | $1,286,348,802 | 3.86% |
| 2015 | $1,307,909,888 | $1,307,909,888 | -2.07% |
| 2016 | $1,379,490,304 | $1,380,560,771 | 5.47% |
| 2017 | $1,469,789,119 | $1,423,017,819 | 6.55% |
| 2018 | $1,615,478,393 | $1,462,093,823 | 9.91% |
| 2019 | $1,619,155,017 | $1,487,659,507 | 0.23% |
| 2020 | $1,536,145,814 | $1,437,359,544 | -5.13% |
| 2021 | $1,522,794,913 | $1,474,218,470 | -0.87% |
| 2022 | $1,566,360,686 | $1,509,636,295 | 2.86% |
| 2023 | $1,660,896,531 | $1,549,737,698 | 6.04% |
| 2024 | $1,760,767,447 | $1,589,090,837 | 6.01% |
Economic Statistics of the Solomon Islands
Solomon Islands
|
Rank | |
|---|---|---|
| Gross domestic product |
$1.76B
2024 |
182/197 |
| GDP growth |
6.01%
2023-2024 |
91/196 |
| GDP per capita |
$2,149
2024 |
153/197 |
| GDP per capita, PPP |
$2,872
2024 |
183/197 |
| Government debt |
$388M
2024 |
176/185 |
| Debt-to-GDP ratio |
23.7%
2025 |
171/185 |
| Government debt per person |
$473
2024 |
169/185 |
| Average annual personal income after taxes |
$2,069
2025 |
166/197 |
| Income share by richest 10% |
29.2%
2012 |
72/169 |
| Income share by poorest 10% |
2.8%
2012 |
88/169 |
| Government expenditure, % of GDP |
35.7%
2025 |
68/195 |
| Consumer prices inflation |
4.32%
2023-2024 |
65/195 |
| Unemployment rate |
0.69%
2013 |
192/196 |
| Population |
854419
|
162/197 |
Solomon Islands' GDP per capita
The Solomon Islands has a GDP per capita of $2,149, ranking 153/197, a GDP per capita based on purchasing power parity (PPP) of $2,872, ranking 183/197, and a median annual after tax income of $2,069, ranking 166/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1967 | $153.5 | - |
| 1968 | $166.9 | - |
| 1969 | $165.9 | - |
| 1970 | $162 | - |
| 1971 | $277.1 | - |
| 1972 | $219.5 | - |
| 1973 | $291.3 | - |
| 1974 | $433 | - |
| 1975 | $372 | - |
| 1976 | $401 | - |
| 1977 | $434 | - |
| 1978 | $500 | - |
| 1979 | $658 | - |
| 1980 | $768 | - |
| 1981 | $786 | - |
| 1982 | $756 | - |
| 1983 | $686 | - |
| 1984 | $665 | - |
| 1985 | $586 | - |
| 1986 | $506 | - |
| 1987 | $515 | - |
| 1988 | $567 | - |
| 1989 | $538 | - |
| 1990 | $648 | $1,266 |
| 1991 | $666 | $1,346 |
| 1992 | $764 | $1,505 |
| 1993 | $829 | $1,556 |
| 1994 | $1,078 | $1,668 |
| 1995 | $1,220 | $1,821 |
| 1996 | $1,289 | $1,830 |
| 1997 | $1,292 | $1,793 |
| 1998 | $1,092 | $1,785 |
| 1999 | $1,134 | $1,754 |
| 2000 | $953 | $1,503 |
| 2001 | $912 | $1,387 |
| 2002 | $757 | $1,344 |
| 2003 | $896 | $1,433 |
| 2004 | $986 | $1,556 |
| 2005 | $1,144 | $1,693 |
| 2006 | $1,256 | $1,786 |
| 2007 | $1,390 | $1,869 |
| 2008 | $1,526 | $1,989 |
| 2009 | $1,555 | $2,021 |
| 2010 | $1,685 | $2,182 |
| 2011 | $1,924 | $2,306 |
| 2012 | $2,066 | $2,320 |
| 2013 | $2,161 | $2,394 |
| 2014 | $2,165 | $2,377 |
| 2015 | $2,045 | $2,354 |
| 2016 | $2,083 | $2,421 |
| 2017 | $2,144 | $2,454 |
| 2018 | $2,278 | $2,494 |
| 2019 | $2,224 | $2,512 |
| 2020 | $2,063 | $2,405 |
| 2021 | $1,997 | $2,518 |
| 2022 | $2,005 | $2,697 |
| 2023 | $2,076 | $2,801 |
| 2024 | $2,149 | $2,872 |
Solomon Islands' government spending, deficit, and chart
This chart shows the Solomon Islands' government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 36 years, the Solomon Islands recorded a fiscal deficit in 13 years — average annual surplus equal to +2.5% of GDP. In 2024, government spending reached $630M (35.7% of GDP), with a deficit of -3.15%.
The national debt reached $388M, ranking 176th out of 185 countries by total size, with a debt-to-GDP ratio of 23.7%, ranking 171st.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 1990 | 30% | - | 0.58% |
| 1991 | 39.4% | - | 0.14% |
| 1992 | 35.1% | - | 4.13% |
| 1993 | 33.2% | - | 2.45% |
| 1994 | 30.2% | - | 4.33% |
| 1995 | 24.7% | - | 3.19% |
| 1996 | 24.2% | - | 3.73% |
| 1997 | 19.3% | 25.9% | 2.14% |
| 1998 | 15.5% | 39.5% | 5.04% |
| 1999 | 18.7% | 42% | -0.32% |
| 2000 | 18.7% | 44.3% | -2.93% |
| 2001 | 18.1% | 52.8% | -2.4% |
| 2002 | 16.7% | 65.7% | -4.35% |
| 2003 | 14.9% | 61.3% | 10.6% |
| 2004 | 14.7% | 58.2% | 17% |
| 2005 | 17% | 44.7% | 13.4% |
| 2006 | 19.9% | 42.3% | 13% |
| 2007 | 23.7% | 33% | 15.3% |
| 2008 | 27% | 28.9% | 1.94% |
| 2009 | 24.8% | 18.9% | 2.35% |
| 2010 | 23.9% | 22.9% | 6.02% |
| 2011 | 27% | 18.3% | 6.22% |
| 2012 | 29.4% | 13.3% | 4.63% |
| 2013 | 41.8% | 11.6% | 3.57% |
| 2014 | 39.8% | 10.1% | 2.13% |
| 2015 | 41.5% | 7.88% | 0.81% |
| 2016 | 39.6% | 7.54% | -3.56% |
| 2017 | 40.4% | 8.77% | -2.27% |
| 2018 | 34.8% | 7.95% | 1.49% |
| 2019 | 35.6% | 7.82% | -1.52% |
| 2020 | 40.4% | 12.8% | -2.44% |
| 2021 | 37.8% | 15.9% | -1.86% |
| 2022 | 40.8% | 15.5% | -2.51% |
| 2023 | 40.1% | 20.3% | -3.81% |
| 2024 | 35.8% | 22% | -3.08% |
| 2025 | 35.7% | 23.7% | -3.15% |
Inflation rate by year
Over the past 20 years, the Solomon Islands has had an average annual inflation rate of 4.98%. In 2024, inflation was 4.32%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1972 | 6.88% |
| 1973 | 3.23% |
| 1974 | 18.9% |
| 1975 | 10.1% |
| 1976 | 4.26% |
| 1977 | 8.62% |
| 1978 | 6.26% |
| 1979 | 8.06% |
| 1980 | 13.1% |
| 1981 | 16.4% |
| 1982 | 13% |
| 1983 | 6.23% |
| 1984 | 11% |
| 1985 | 9.57% |
| 1986 | 13.6% |
| 1987 | 11% |
| 1988 | 16.7% |
| 1989 | 14.9% |
| 1990 | 8.74% |
| 1991 | 15.1% |
| 1992 | 10.8% |
| 1993 | 9.17% |
| 1994 | 13.3% |
| 1995 | 9.63% |
| 1996 | 11.8% |
| 1997 | 8.08% |
| 1998 | 12.4% |
| 1999 | 8.02% |
| 2000 | 7.89% |
| 2001 | 6.93% |
| 2002 | 10.9% |
| 2003 | 8.27% |
| 2004 | 6.99% |
| 2005 | 7.33% |
| 2006 | 11.2% |
| 2007 | 7.67% |
| 2008 | 17.3% |
| 2009 | 7.09% |
| 2010 | 1.05% |
| 2011 | 7.34% |
| 2012 | 5.91% |
| 2013 | 5.39% |
| 2014 | 5.17% |
| 2015 | -0.57% |
| 2016 | 0.51% |
| 2017 | 0.49% |
| 2018 | 3.46% |
| 2019 | 1.63% |
| 2020 | 2.96% |
| 2021 | -0.12% |
| 2022 | 5.52% |
| 2023 | 5.89% |
| 2024 | 4.32% |
Balance of trade
|
Solomon Islands
|
Rank | |
|---|---|---|
Current account balance
|
-$66.2M
2024 |
83/189 |
| Current account balance, % of GDP |
-3.76%
2024 |
122/189 |
| Goods imports |
$609M
2024 |
169/188 |
| Goods exports |
$510M
2024 |
158/188 |
| Service imports |
$248M
2024 |
168/188 |
| Service exports |
$133M
2024 |
167/188 |
| Imports of goods and services, % of GDP |
51.7%
2022 |
74/180 |
| Exports of goods and services, % of GDP |
26.3%
2022 |
125/193 |
The Solomon Islands' top 10 trading partners
The Solomon Islands' biggest trading partner accounting for 43.1%% of all exports and imports is China, with a trade balance between the two of +$291M — the Solomon Islands exports $380M worth of goods and services to China and imports $89.4M.
Below is the list of the top 10 trade partners of the Solomon Islands.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
China
|
$470M | 43.1% | $380M | $89.4M | Wood & paper products | Machinery & equipment |
| 2 |
Australia
|
$115M | 10.5% | $5.02M | $110M | Wood & paper products | Machinery & equipment |
| 3 |
Singapore
|
$103M | 9.43% | $5.02M | $97.8M | Wood & paper products | Raw materials & minerals |
| 4 |
Malaysia
|
$86.6M | 7.94% | $8.77M | $77.8M | Processed food, beverages & tobacco | Machinery & equipment |
| 5 |
Italy
|
$41.5M | 3.81% | $41.1M | $387K | Processed food, beverages & tobacco | Machinery & equipment |
| 6 |
Vietnam
|
$31.2M | 2.86% | $4.2M | $27M | Wood & paper products | Raw agricultural goods |
| 7 |
India
|
$31M | 2.84% | $28.9M | $2.01M | Wood & paper products | Machinery & equipment |
| 8 |
New Zealand
|
$30.1M | 2.77% | $4.51M | $25.6M | Wood & paper products | Animal & marine products |
| 9 |
Japan
|
$27.6M | 2.53% | $1.08M | $26.5M | Machinery & equipment | Machinery & equipment |
| 10 |
Thailand
|
$24.7M | 2.26% | $12M | $12.7M | Animal & marine products | Metals |
Solomon Islands' top 10 exports
|
Solomon Islands
|
Rank | |
|---|---|---|
| Wood & paper products | $427M | 65/192 |
| Processed food, beverages & tobacco | $85.2M | 134/192 |
| Transport & tourism services | $71.9M | 166/188 |
| Animal & marine products | $23M | 139/192 |
| Raw materials & minerals | $21.3M | 162/193 |
| Business & finance services | $17.8M | 161/188 |
| Government & miscellaneous services | $9.59M | 138/180 |
| Raw agricultural goods | $7.19M | 163/193 |
| Manufacturing & construction services | $5.77M | 133/164 |
| IT & IP services | $4.08M | 168/183 |
Solomon Islands' top 10 imports
|
Solomon Islands
|
Rank | |
|---|---|---|
| Machinery & equipment | $212M | 171/193 |
| Transport & tourism services | $123M | 174/188 |
| Raw materials & minerals | $119M | 170/193 |
| Business & finance services | $66.9M | 163/188 |
| Raw agricultural goods | $56.8M | 170/193 |
| Processed food, beverages & tobacco | $55.9M | 180/193 |
| Metals | $50.4M | 172/193 |
| Chemicals & pharma | $34.2M | 180/193 |
| Government & miscellaneous services | $28.4M | 116/180 |
| Textiles & consumer goods | $26.7M | 182/193 |
Economic freedom indices
|
Solomon Islands
|
Rank | |
|---|---|---|
| Economic freedom | 56.3 | 121/197 |
| Property rights | 48.2 | 97/182 |
| Government integrity | 42 | 97/182 |
| Judicial effectiveness | 61.9 | 97/182 |
| Tax burden | 70.6 | 145/181 |
| Government spending | 70.2 | 104/180 |
| Fiscal health | 95.3 | 30/181 |
| Business freedom | 50.1 | 136/182 |
| Labor freedom | 60.5 | 60/182 |
| Monetary freedom | 76.2 | 28/180 |
| Trade freedom | 55.4 | 163/181 |
| Investment freedom | 15 | 169/181 |
| Financial freedom | 30 | 149/181 |
Solomon Islands' economic freedom by year
The Solomon Islands is ranked 108/180 for economic freedom with a score of 56.3, compared to 161/178 and a score of 46 in 2009.
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2009 | 46 | - | 68.9 | 0 | - |
| 2010 | 42.9 | - | 67.9 | 0 | - |
| 2011 | 45.9 | - | 69.2 | 32.9 | - |
| 2012 | 46.2 | - | 69.3 | 30.3 | - |
| 2013 | 45 | - | 66.2 | 6.1 | - |
| 2014 | 46.2 | - | 61.4 | 21.3 | - |
| 2015 | 47 | - | 61.1 | 25.7 | - |
| 2016 | 47 | - | 61.4 | 25.2 | - |
| 2017 | 55 | 41.9 | 62.8 | 34.4 | 99.8 |
| 2018 | 57.5 | 57.3 | 65.5 | 35.6 | 99.8 |
| 2019 | 54.6 | 51.7 | 65.5 | 36.5 | 89.4 |
| 2020 | 52.9 | 53.7 | 65.6 | 34.2 | 76.6 |
| 2021 | 56.5 | 55.9 | 66.3 | 55.3 | 92.2 |
| 2022 | 56.5 | 59.5 | 70.5 | 60.1 | 98 |
| 2023 | 56.9 | 44.8 | 71.5 | 62.4 | 86.9 |
| 2024 | 55 | 60.1 | 71.5 | 67.7 | 81.1 |
| 2025 | 56.3 | 61.9 | 70.6 | 70.2 | 95.3 |
More economic indicators
|
Solomon Islands
|
Rank | |
|---|---|---|
| Services, % of GDP |
47.3%
2022 |
146/191 |
| Industry, % of GDP |
18.7%
2022 |
139/194 |
| Agriculture, forestry, and fishing, % of GDP |
33.8%
2022 |
8/193 |
|
GNI, Atlas method
|
$1.71B
2024 |
180/194 |
| GNI per capita, PPP |
$2,880
2024 |
177/191 |
| Total reserves including gold |
$688M
2023 |
149/177 |
|
Net foreign direct investment
|
$19.9M
2024 |
35/188 |
|
Net inflows of foreign direct investment
|
$33M
2024 |
158/193 |
|
Net outflows of foreign direct investment
|
$52.9M
2024 |
101/187 |
|
Servicing debt to the IMF, % of GNI
|
1.77%
2023 |
92/119 |
| Poverty at national poverty lines |
12.7%
2012 |
143/176 |
|
Gross capital formation, % of GDP
|
23.4%
2022 |
87/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Solomon Islands topic pages:
Economy comparisons
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.