The Solomon Islands vs Somalia: Economic Indicators Comparison

Somalia with a GDP of $4.7B ranked the 159th largest economy in the world, while the Solomon Islands ranked 182nd with $1.4B. By GDP 5-years average growth and GDP per capita, Somalia and the Solomon Islands ranked 97th vs 90th and 196th vs 145th, respectively.

Gross Domestic Product & Income

Stat	Solomon Islands	Somalia
GDP	$1.4B	$4.7B
GDP growth, 1 year	3.4%	3.1%
GDP growth, 5-years average	3%	2.9%
Population	611k	11M
GDP per capita	$2.1k	$315
GDP per capita growth	1.18%	-2.74%
Purchasing Power Parity conversion factor	7.02	11427.68
Price level ratio of PPP conversion factor GDP to market exchange rate	0.88	N/A
GDP per capita, PPP adjusted	$2.2k	$500
GNI, Atlas method	$1.3B	$959.2M
GNI per capita	$2k	$130
GNI, PPP adjusted	$1.5B	N/A
GNI per capita, PPP adjusted	$2.3k	N/A

Financial system and Human development

Stat	Solomon Islands	Somalia
Income Tax Rate	40%	N/A
Corporate Tax Rate	30%	N/A
Inflation, consumer prices	1%	1.5%
Inflation, GDP deflator	3.5%	215.5%
Unemployment	1.8%	14%
Economic Freedom Index	52.9	29
Personal Freedom Index	6.1	3.6
Human Freedom Index	6.1	3.4
Property Rights Index	54.6	20.1
Judical Effectiveness Index	53.7	26.5
Business Freedom Index	67.7	31.6
Fiscal Health Index	76.6	N/A
Labor Freedom Index	72	N/A
Investment Freedom Index	15	N/A
Financial Freedom Index	30	N/A
Trade Freedom Index	48	N/A
Monetary Freedom Index	84.3	N/A
Government Spending Index	34.2	N/A
Tax Burden Index	65.6	N/A
Government Integrity Index	33.5	13.1
Corruption Perceptions Index	44	10
Life expectancy at birth, years	72.6	56.7
Suicide mortality rate, per 100,000 people	4.7	4.7
Mortality caused by road traffic injury, per 100,000 people	17.4	27.1
Intentional homicides, per 100,000 people	3.8	4.3
International tourism, number of arrivals	28k	N/A

Government debt & reserves

Stat	Solomon Islands	Somalia
Central government debt, % of GDP	12.1%	N/A
External debt stocks, % of GNI	29.1%	39.4%
External debt stocks	$388.5M	$2.9B
Short-term debt, % of total reserves	7%	847.9%
Total debt service, % of exports and primary income	5.6%	47.6%
Adjusted net savings including particulate emission damage, % of GNI	-13.3%	N/A
Gross savings, % of GDP	3.2%	N/A
Gross capital formation, % of GDP	14.6%	15.5%
Total reserves including gold	$617.1M	$23.1M
Foreign direct investment net inflows	$12.1M	$409M

Exports, imports and economic structure

Stat	Solomon Islands	Somalia
Exports of goods and services, % of GDP	45.1%	25.9%
Imports of goods and services, % of GDP	53.3%	99.6%
Current account balance (balance of payments)	-$50.6M	N/A
Revenue excluding grants, % of GDP	33.8%	0%
Grants excluding technical cooperation, BoP	$153.5M	$1.5B
Personal remittances received	$19.3M	$21.7M
Industry including construction value added, % of GDP	N/A	9.5%
Agriculture, forestry and fishing value added, % of GDP	35%	62.7%
Charges for the use of intellectual property, payments BoP	$4.4M	N/A
Charges for the use of intellectual property, receipts BoP	$599k	N/A
Expense, % of GDP	31.9%	0%
Government Expenditure, % of GDP	46.8%	N/A