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Economy of Solomon Islands vs Sri Lanka compared: GDP & Debt

Updated on by Georank

The Solomon Islands has a GDP of $1.75B compared to $109B for Sri Lanka, ranking 183/197 and 71/197 by economy size, respectively.

The Solomon Islands has $501M in government debt (28.7% of GDP), compared to $100B (100.8% of GDP) in Sri Lanka.

Solomon Islands vs Sri Lanka GDP by year

Solomon Islands
Sri Lanka
1x
Year GDP, current $
Solomon Islands Sri Lanka
2025 $1,749,572,443 $108,825,231,671
2024 $1,583,964,704 $99,616,111,266
2023 $1,506,124,566 $84,080,307,356
2022 $1,466,670,930 $74,143,020,304
2021 $1,558,312,104 $88,556,699,052
2020 $1,536,143,428 $84,335,574,372
2019 $1,619,150,564 $88,998,706,178
2018 $1,615,473,250 $94,450,015,983
2017 $1,469,790,526 $94,369,350,439
2016 $1,379,486,291 $88,000,210,878
2015 $1,307,908,814 $85,090,300,896
2014 $1,335,576,763 $82,531,125,462
2013 $1,285,905,958 $76,976,204,075
2012 $1,185,217,634 $70,447,216,891
2011 $1,063,898,227 $67,753,285,882
2010 $898,128,551 $58,636,049,581
2009 $805,557,289 $42,066,224,093
2008 $776,335,523 $40,713,826,215
2007 $695,291,218 $32,350,238,760
2006 $617,257,458 $28,267,410,543
2005 $552,881,357 $24,405,791,045
2004 $468,000,121 $20,662,525,941
2003 $417,666,639 $18,881,765,437
2002 $346,406,739 $16,536,535,647
2001 $409,508,553 $15,749,753,805
2000 $419,842,674 $16,595,882,819
1999 $488,024,514 $15,711,933,513
1998 $457,579,840 $15,760,736,956
1997 $526,554,006 $15,091,913,884
1996 $510,586,430 $13,897,738,375
1995 $469,443,202 $13,029,697,561
1994 $402,837,005 $11,717,604,209
1993 $300,746,361 $10,338,679,636
1992 $269,034,596 $9,703,011,636
1991 $227,540,473 $9,000,362,582
1990 $214,877,667 $8,032,551,173
1989 $172,882,411 $6,987,267,684
1988 $176,494,394 $6,978,371,581
1987 $155,128,542 $6,682,167,120
1986 $147,620,048 $6,405,210,564
1985 $165,524,943 $5,978,460,972
1984 $181,570,474 $6,043,474,843
1983 $181,220,399 $5,167,913,302
1982 $192,902,019 $4,768,765,017
1981 $193,750,541 $4,415,844,156
1980 $182,852,107 $4,024,621,900
1979 $151,276,496 $3,364,611,432
1978 $111,027,427 $2,733,183,857
1977 $93,145,283 $4,104,509,583
1976 $83,100,834 $3,591,319,857
1975 $74,620,320 $3,791,298,146
1974 $84,539,332 $3,574,586,466
1973 $55,272,109 $2,875,625,000
1972 $40,606,712 $2,553,936,348
1971 $50,056,883 $2,369,308,600
1970 - $2,296,470,588
1969 $28,606,411 $1,965,546,218
1968 $28,084,253 $1,801,344,538
1967 $25,203,524 $1,859,465,021
1966 - $1,751,470,588
1965 - $1,698,319,328
1964 - $1,309,747,899
1963 - $1,240,672,269
1962 - $1,434,156,379
1961 - $1,444,327,731
1960 - $1,409,873,950

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/solomon-islands/sri-lanka | CC BY

GDP per capita in Solomon Islands vs Sri Lanka by year

Solomon Islands
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Solomon Islands Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $2,086 - $5,002 -
2024 $1,934 $2,675 $4,545 $15,633
2023 $1,883 $2,597 $3,815 $14,456
2022 $1,878 $2,496 $3,343 $14,194
2021 $2,043 $2,450 $3,997 $14,316
2020 $2,063 $2,405 $3,848 $12,941
2019 $2,224 $2,512 $4,082 $14,113
2018 $2,278 $2,494 $4,359 $14,178
2017 $2,144 $2,454 $4,399 $13,610
2016 $2,083 $2,421 $4,149 $13,079
2015 $2,045 $2,354 $4,058 $12,227
2014 $2,165 $2,377 $3,972 $11,721
2013 $2,161 $2,394 $3,739 $11,253
2012 $2,066 $2,320 $3,328 $10,249
2011 $1,924 $2,306 $3,225 $9,076
2010 $1,685 $2,182 $2,808 $8,234
2009 $1,555 $2,021 $2,027 $7,576
2008 $1,526 $1,989 $1,974 $7,317
2007 $1,390 $1,869 $1,579 $6,820
2006 $1,256 $1,786 $1,389 $6,261
2005 $1,144 $1,693 $1,207 $5,679
2004 $986 $1,556 $1,029 $5,216
2003 $896 $1,433 $946 $4,850
2002 $757 $1,344 $835 $4,522
2001 $912 $1,387 $804 $4,328
2000 $953 $1,503 $860 $4,368
1999 $1,134 $1,754 $829 $4,103
1998 $1,092 $1,785 $848 $3,952
1997 $1,292 $1,793 $827 $3,804
1996 $1,289 $1,830 $776 $3,582
1995 $1,220 $1,820 $742 $3,454
1994 $1,078 $1,668 $678 $3,260
1993 $829 $1,556 $607 $3,067
1992 $764 $1,505 $580 $2,851
1991 $666 $1,346 $546 $2,713
1990 $648 $1,266 $491 $2,527
1989 $538 - $430 -
1988 $567 - $434 -
1987 $515 - $420 -
1986 $506 - $407 -
1985 $586 - $385 -
1984 $665 - $391 -
1983 $686 - $336 -
1982 $756 - $312 -
1981 $786 - $292.5 -
1980 $768 - $271.1 -
1979 $658 - $230.8 -
1978 $500 - $191 -
1977 $434 - $292.1 -
1976 $401 - $260.3 -
1975 $372 - $279.8 -
1974 $433 - $268.7 -
1973 $291.3 - $220.2 -
1972 $219.5 - $199.4 -
1971 $277.1 - $188.8 -
1970 - - $186.9 -
1969 $165.9 - $163.6 -
1968 $166.9 - $153.5 -
1967 $153.5 - $162.3 -
1966 - - $156.6 -
1965 - - $155.6 -
1964 - - $122.9 -
1963 - - $119.4 -
1962 - - $141.4 -
1961 - - $145.9 -
1960 - - $145.9 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/solomon-islands/sri-lanka | CC BY

The Solomon Islands' GDP per capita is $2,086, ranking 157/197, compared to $5,002 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), the Solomon Islands ranks 183rd at $2,675, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Solomon Islands Sri Lanka
Gross domestic product
$1.75B
2025
$109B
2025
GDP rank
183/197
2025
71/197
2025
GDP growth
3.62%
2024-2025
4.95%
2024-2025
GDP per capita
$2,086
2025
$5,002
2025
GDP per capita rank
157/197
2025
124/197
2025
GDP per capita, PPP
$2,675
2024
$15,633
2024
GDP per capita PPP rank
183/197
2024
111/197
2024
Government debt
$501M
2025
$100B
2024
Debt-to-GDP ratio
28.7%
2025
100.8%
2024
Government debt per person
$598
2025
$4,584
2024
Government debt per person rank
162/185
2025
90/185
2024
Average annual personal income after taxes
$1,986
2026
$2,830
2026
Market capitalization of domestic companies n/a
$26.1B
2025
Income share by richest 10%
29.2%
2012
30.8%
2019
Income share by poorest 10%
2.8%
2012
3.1%
2019
Government expenditure, % of GDP
40.6%
2025
19.1%
2024
Consumer prices inflation
3.36%
2024-2025
-4.76%
2024-2025
Central bank interest rate n/a
7.75%
2025
Unemployment rate
0.69%
2013
4.32%
2024
Population
868694
21926160

Spending and national debt comparison by year

Solomon Islands
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Solomon Islands Sri Lanka
Government spending Government debt Government spending Government debt
2025 40.6% 28.7% - -
2024 39.6% 26.1% 19.1% 100.8%
2023 44.2% 22.3% 19.5% 110.4%
2022 43.5% 16.5% 18.6% 115.9%
2021 36.9% 16.1% 20% 102.7%
2020 40.4% 9.15% 22.1% 96.9%
2019 35.6% 7.82% 19.5% 82.6%
2018 34.8% 7.95% 17.5% 83.6%
2017 40.4% 8.77% 17.9% 72.3%
2016 39.6% 7.54% 18.2% 75%
2015 41.5% 7.88% 19.3% 76.3%
2014 39.8% 10.1% 17.2% 69.6%
2013 41.8% 11.6% 16.6% 69.5%
2012 29.4% 13.3% 17.3% 67.5%
2011 26.7% 18.1% 19.1% 69.4%
2010 22.6% 21.6% 19.3% 68.7%
2009 22.7% 17.2% 21% 72.8%
2008 24.3% 26.1% 19.1% 68.8%
2007 21.1% 29.5% 19.9% 71.8%
2006 17.4% 36.9% 20.5% 74.3%
2005 14.7% 38.5% 20.1% 76.6%
2004 12.5% 49.4% 19.3% 86.5%
2003 12.6% 51.8% 19.3% 86.5%
2002 14.1% 55.5% 20.8% 96.3%
2001 15.3% 44.6% 22.4% 84.4%
2000 15.8% 37.4% 21.7% 79.2%
1999 15.8% 35.4% 20.5% 77.7%
1998 13.1% 33.3% 21.4% 74.2%
1997 16.3% 21.9% 21.4% 70.1%
1996 20.4% - 23.1% 76.2%
1995 20.8% - 24.8% 77.8%
1994 25.5% - 24.1% 77.9%
1993 28.1% - 23.2% 79.2%
1992 29.6% - 23% 77.9%
1991 33.2% - 26.4% 80.5%
1990 25.4% - 25.4% 78.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/solomon-islands/sri-lanka | CC BY

In 2025, the Solomon Islands' government spending was $711M, accounting for 40.6% of its GDP, while Sri Lanka spent $19B, or 19.1% of GDP.

Debt-to-GDP ratio is 28.7% in the Solomon Islands and 100.8% in Sri Lanka, ranking 158/185 and 24/185, respectively.

Government deficit by year

Deficit/surplus
Solomon Islands

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Solomon Islands Sri Lanka
2025 -3.24% -
2024 -2.09% -5.43%
2023 -4.13% -8.32%
2022 -2.7% -10.2%
2021 -1.82% -11.7%
2020 -2.44% -13.4%
2019 -1.52% -7.52%
2018 1.49% -4.96%
2017 -2.27% -5.1%
2016 -3.56% -5%
2015 0.81% -6.64%
2014 2.13% -5.99%
2013 3.57% -5%
2012 4.63% -5.44%
2011 6.14% -6.01%
2010 5.67% -6.73%
2009 2.15% -8.33%
2008 1.75% -5.93%
2007 13.7% -5.81%
2006 11.3% -5.91%
2005 11.5% -5.93%
2004 14.5% -6.32%
2003 8.91% -6.15%
2002 -3.67% -6.9%
2001 -2.02% -8.48%
2000 -2.47% -7.78%
1999 -0.27% -5.58%
1998 4.25% -6.79%
1997 1.8% -5.71%
1996 3.15% -6.89%
1995 2.69% -7.11%
1994 3.65% -7.41%
1993 2.07% -5.77%
1992 3.48% -4.95%
1991 0.12% -7.97%
1990 0.49% -6.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/solomon-islands/sri-lanka | CC BY

In 2024, the Solomon Islands' government deficit, the difference between spending and revenue, was $33.1M, equivalent to 2.09% of GDP. This compares to Sri Lanka's deficit of $5.4B, or 5.43% of GDP.

Over the past 35 years, the Solomon Islands recorded a fiscal deficit in 12 of those years, while Sri Lanka ran a deficit in 35 years. On average, the Solomon Islands posted an annual surplus equal to 2.31% of GDP, compared to deficit of 6.84% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Solomon Islands

Sri Lanka
1x
Year Consumer prices inflation
Solomon Islands Sri Lanka
2025 3.36% -4.76%
2024 4.32% -0.43%
2023 5.89% 16.5%
2022 5.52% 49.7%
2021 -0.12% 7.01%
2020 2.96% 6.15%
2019 1.63% 3.53%
2018 3.46% 2.14%
2017 0.49% 7.7%
2016 0.51% 3.96%
2015 -0.57% 3.77%
2014 5.17% 3.18%
2013 5.39% 6.91%
2012 5.91% 7.54%
2011 7.34% 6.72%
2010 1.05% 6.22%
2009 7.09% 3.46%
2008 17.3% 22.6%
2007 7.67% 15.8%
2006 11.2% 10%
2005 7.33% 11.6%
2004 6.99% 7.58%
2003 8.27% 6.31%
2002 10.9% 9.55%
2001 6.93% 14.2%
2000 7.89% 6.18%
1999 8.02% 4.69%
1998 12.4% 9.36%
1997 8.08% 9.57%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/solomon-islands/sri-lanka | CC BY

Over the past 29 years, the Solomon Islands has recorded an average annual inflation rate of 5.95%, compared with 8.86% in Sri Lanka. In 2025, inflation was 3.36% in the Solomon Islands and -4.76% in Sri Lanka.

Top exports between countries

Solomon Islands
Export category Export value
Processed food, beverages & tobacco $76K
Sri Lanka
Export category Export value
Wood & paper products $420K
Raw agricultural goods $187K
Chemicals & pharma $56K
Textiles & consumer goods $38K
Processed food, beverages & tobacco $33K
Machinery & equipment $9K
Animal & marine products $1K

Balance of trade

Solomon Islands Sri Lanka
Current account balance
-$66.2M
2024
$1.21B
2024
Current account balance ranking
78/190
2024
49/190
2024
Current account balance, % of GDP
-4.18%
2024
+1.21%
2024
Goods imports
$609M
2024
$18.8B
2024
Goods exports
$510M
2024
$12.8B
2024
Service imports
$248M
2024
$3.48B
2024
Service exports
$133M
2024
$6.91B
2024
Imports of goods and services, % of GDP
70.8%
2024
22.8%
2025
Exports of goods and services, % of GDP
40.6%
2024
19%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Solomon Islands Sri Lanka
Economic freedom 53.7 50.3
Economic freedom ranking 137/197 162/197
Property rights 55.8 47.3
Government integrity 42.7 37.3
Judicial effectiveness 59.1 47.2
Tax burden 71.3 77
Government spending 54.6 89
Fiscal health 83.3 0
Business freedom 52.3 60.1
Labor freedom 60.4 54.3
Monetary freedom 76.5 65.9
Trade freedom 43.6 65.6
Investment freedom 15 30
Financial freedom 30 30

Economic freedom comparison by year

Solomon Islands
Sri Lanka
1x
Year Economic freedom index
Solomon Islands Sri Lanka
2026 53.7 50.3
2025 56.3 49.4
2024 55 49.2
2023 56.9 52.2
2022 56.5 53.3
2021 56.5 55.7
2020 52.9 57.4
2019 54.6 56.4
2018 57.5 57.8
2017 55 57.4
2016 47 59.9
2015 47 58.6
2014 46.2 60
2013 45 60.7
2012 46.2 58.3
2011 45.9 57.1
2010 42.9 54.6
2009 46 56
2008 - 58.4
2007 - 59.4
2006 - 58.7
2005 - 61
2004 - 61.6
2003 - 62.5
2002 - 64
2001 - 66
2000 - 63.2
1999 - 64
1998 - 64.6
1997 - 65.5
1996 - 62.5
1995 - 60.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/solomon-islands/sri-lanka | CC BY

The Economic Freedom Index for the Solomon Islands is 53.7, ranking 137/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Solomon Islands Sri Lanka
Services, % of GDP
46.9%
2024
54.6%
2025
Industry, % of GDP
23.4%
2024
25.4%
2025
Agriculture, forestry, and fishing, % of GDP
29.7%
2024
8.36%
2025
GNI, Atlas method
$1.7B
2025
$102B
2025
GNI per capita, PPP
$2,790
2025
$16,750
2025
Total reserves including gold
$686M
2024
$6.09B
2024
Total reserves ranking
148/177
2024
96/177
2024
Net foreign direct investment
$19.9M
2024
-$651M
2024
Net inflows of foreign direct investment
$33M
2024
$761M
2024
Net outflows of foreign direct investment
$52.9M
2024
$110M
2024
Servicing debt to the IMF, % of GNI
1.64%
2024
4.96%
2024
Poverty at national poverty lines
12.7%
2012
14.3%
2019
Gross capital formation, % of GDP
19.5%
2024
29.6%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/solomon-islands/sri-lanka | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2021–2024, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.