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Economy of Solomon Islands vs Taiwan compared: GDP & Debt

Updated on by Georank

The Solomon Islands has a GDP of $1.75B compared to $802B for Taiwan, ranking 183/197 and 22/197 by economy size, respectively.

The Solomon Islands has $501M in government debt (28.7% of GDP), compared to $215B (22.4% of GDP) in Taiwan.

Solomon Islands vs Taiwan GDP by year

Solomon Islands
Taiwan
1x
Year GDP, current $
Solomon Islands Taiwan
2025 $1,749,572,443 -
2024 $1,583,964,704 $801,529,000,000
2023 $1,506,124,566 $757,328,000,000
2022 $1,466,670,930 $765,529,000,000
2021 $1,558,312,104 $777,062,000,000
2020 $1,536,143,428 $676,935,000,000
2019 $1,619,150,564 $613,453,000,000
2018 $1,615,473,250 $610,744,000,000
2017 $1,469,790,526 $591,734,000,000
2016 $1,379,486,291 $543,002,000,000
2015 $1,307,908,814 $534,474,000,000
2014 $1,335,576,763 $535,332,000,000
2013 $1,285,905,958 $512,957,000,000
2012 $1,185,217,634 $495,536,000,000
2011 $1,063,898,227 $483,957,000,000
2010 $898,128,551 $444,245,000,000
2009 $805,557,289 $390,788,000,000
2008 $776,335,523 $415,824,000,000
2007 $695,291,218 $406,940,000,000
2006 $617,257,458 $386,492,000,000
2005 $552,881,357 $374,042,000,000
2004 $468,000,121 $346,881,000,000
2003 $417,666,639 $317,374,000,000
2002 $346,406,739 $307,429,000,000
2001 $409,508,553 $299,303,000,000
2000 $419,842,674 $330,725,000,000
1999 $488,024,514 $303,827,000,000
1998 $457,579,840 $279,926,000,000
1997 $526,554,006 $303,315,000,000
1996 $510,586,430 $292,473,000,000
1995 $469,443,202 $279,013,000,000
1994 $402,837,005 $256,213,000,000
1993 $300,746,361 $234,943,000,000
1992 $269,034,596 $222,947,000,000
1991 $227,540,473 $187,100,000,000
1990 $214,877,667 $166,392,000,000
1989 $172,882,411 $152,687,000,000
1988 $176,494,394 $126,378,000,000
1987 $155,128,542 $104,956,000,000
1986 $147,620,048 $78,347,000,000
1985 $165,524,943 $63,599,000,000
1984 $181,570,474 $61,036,000,000
1983 $181,220,399 $54,155,000,000
1982 $192,902,019 $49,540,000,000
1981 $193,750,541 $49,047,000,000
1980 $182,852,107 $42,292,000,000
1979 $151,276,496 $33,875,000,000
1978 $111,027,427 $27,373,000,000
1977 $93,145,283 $22,252,000,000
1976 $83,100,834 $18,988,000,000
1975 $74,620,320 $15,836,000,000
1974 $84,539,332 $14,739,000,000
1973 $55,272,109 $10,940,000,000
1972 $40,606,712 $8,063,000,000
1971 $50,056,883 $6,727,000,000
1970 - $5,785,000,000
1969 $28,606,411 $5,017,000,000
1968 $28,084,253 $4,325,000,000
1967 $25,203,524 $3,709,000,000
1966 - $3,207,000,000
1965 - $2,869,000,000
1964 - $2,592,000,000
1963 - $2,218,000,000
1962 - $1,960,000,000
1961 - $1,778,000,000
1960 - $1,743,000,000
1959 - $1,444,000,000
1958 - $1,836,000,000
1957 - $1,636,000,000
1956 - $1,399,000,000
1955 - $1,940,000,000
1954 - $1,628,000,000
1953 - $1,481,000,000
1952 - $1,677,000,000
1951 - $1,197,000,000

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-07-08); World Bank | Economy & Growth (1967–2025, retrieved 2026-07-08).

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

GDP per capita in Solomon Islands vs Taiwan by year

Solomon Islands
GDP per capita

GDP per capita, PPP
Taiwan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Solomon Islands Taiwan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $2,086 - - -
2024 $1,934 $2,675 $34,238 -
2023 $1,883 $2,597 $32,444 -
2022 $1,878 $2,496 $32,827 -
2021 $2,043 $2,450 $33,111 -
2020 $2,063 $2,405 $28,705 -
2019 $2,224 $2,512 $25,998 -
2018 $2,278 $2,494 $25,901 -
2017 $2,144 $2,454 $25,121 $50,500
2016 $2,083 $2,421 $23,091 -
2015 $2,045 $2,354 $22,780 $46,800
2014 $2,165 $2,377 $22,874 -
2013 $2,161 $2,394 $21,973 $39,600
2012 $2,066 $2,320 $21,295 $39,400
2011 $1,924 $2,306 $20,866 $38,200
2010 $1,685 $2,182 $19,197 $35,700
2009 $1,555 $2,021 $16,933 $32,000
2008 $1,526 $1,989 $18,081 $31,100
2007 $1,390 $1,869 $17,757 $30,100
2006 $1,256 $1,786 $16,934 $29,500
2005 $1,144 $1,693 $16,456 $27,500
2004 $986 $1,556 $15,317 $25,300
2003 $896 $1,433 $14,066 $23,400
2002 $757 $1,344 $13,686 $18,000
2001 $912 $1,387 $13,397 $17,200
2000 $953 $1,503 $14,908 $17,400
1999 $1,134 $1,754 $13,804 $16,100
1998 $1,092 $1,785 $12,820 -
1997 $1,292 $1,793 $14,020 -
1996 $1,289 $1,830 $13,641 -
1995 $1,220 $1,820 $13,119 -
1994 $1,078 $1,668 $12,150 -
1993 $829 $1,556 $11,242 -
1992 $764 $1,505 $10,768 -
1991 $666 $1,346 $9,125 -
1990 $648 $1,266 $8,205 -
1989 $538 - $7,613 -
1988 $567 - $6,370 -
1987 $515 - $5,350 -
1986 $506 - $4,036 -
1985 $586 - $3,314 -
1984 $665 - $3,224 -
1983 $686 - $2,903 -
1982 $756 - $2,699 -
1981 $786 - $2,720 -
1980 $768 - $2,389 -
1979 $658 - $1,950 -
1978 $500 - $1,606 -
1977 $434 - $1,330 -
1976 $401 - $1,158 -
1975 $372 - $985 -
1974 $433 - $934 -
1973 $291.3 - $706 -
1972 $219.5 - $530 -
1971 $277.1 - $451 -
1970 - - $397 -
1969 $165.9 - $357 -
1968 $166.9 - $319 -
1967 $153.5 - $280.8 -
1966 - - $249.1 -
1965 - - $229.3 -
1964 - - $213.6 -
1963 - - $188.6 -
1962 - - $172 -
1961 - - $161.2 -
1960 - - $163.4 -
1959 - - $140.4 -
1958 - - $185.1 -
1957 - - $170.5 -
1956 - - $150.6 -
1955 - - $216.3 -
1954 - - $188.3 -
1953 - - $177.7 -
1952 - - $208.4 -
1951 - - $154.3 -

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-07-08); World Bank | Economy & Growth (1967–2025, retrieved 2026-07-08); Central Intelligence Agency (CIA) (1999–2017, retrieved 2026-07-08).

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

The Solomon Islands' GDP per capita is $2,086, ranking 157/197, compared to $34,238 in Taiwan, ranking 38/197. Adjusted for purchasing power (GDP per capita PPP), the Solomon Islands ranks 183rd at $2,675, while Taiwan ranks 44th at $50,500.

Economic indicators

Solomon Islands Taiwan
Gross domestic product
$1.75B
2025
$802B
2024
GDP rank
183/197
2025
22/197
2024
GDP growth
3.62%
2024-2025
2.16%
2023-2024
GDP per capita
$2,086
2025
$34,238
2024
GDP per capita rank
157/197
2025
38/197
2024
GDP per capita, PPP
$2,675
2024
$50,500
2017
GDP per capita PPP rank
183/197
2024
44/197
2017
Government debt
$501M
2025
$215B
2024
Debt-to-GDP ratio
28.7%
2025
22.4%
2025
Government debt per person
$598
2025
$9,170
2024
Government debt per person rank
162/185
2025
64/185
2024
Average annual personal income after taxes
$1,986
2026
$18,863
2026
Number of millionaires n/a
772,000
2026
Number of billionaires n/a
66
2026
Income share by richest 10%
29.2%
2012
n/a
Income share by poorest 10%
2.8%
2012
n/a
Government expenditure, % of GDP
40.6%
2025
15.8%
2024
Consumer prices inflation
3.36%
2024-2025
1.7%
2024-2025
Central bank interest rate n/a
2%
2024
Unemployment rate
0.69%
2013
3.35%
2025
Population
868694
23229461

Spending and national debt comparison by year

Solomon Islands
Spending

Debt
Taiwan
Spending

Debt
1x
Year % of GDP
Solomon Islands Taiwan
Government spending Government debt Government spending Government debt
2025 40.6% 28.7% - 22.4%
2024 39.6% 26.1% 15.8% 26.8%
2023 44.2% 22.3% 17.1% 29%
2022 43.5% 16.5% 16% 29.5%
2021 36.9% 16.1% 15.4% 30.1%
2020 40.4% 9.15% 16.2% 32%
2019 35.6% 7.82% 15.3% 32.6%
2018 34.8% 7.95% 15.4% 33.8%
2017 40.4% 8.77% 15.4% 34.5%
2016 39.6% 7.54% 15.6% 35.4%
2015 41.5% 7.88% 15.5% 35.9%
2014 39.8% 10.1% - 37.5%
2013 41.8% 11.6% - 38.9%
2012 29.4% 13.3% - 39.2%
2011 26.7% 18.1% 18.3% 38.3%
2010 22.6% 21.6% - 36.9%
2009 22.7% 17.2% - 36.7%
2008 24.3% 26.1% - 33.4%
2007 21.1% 29.5% - 32.2%
2006 17.4% 36.9% - 33.3%
2005 14.7% 38.5% - 34.1%
2004 12.5% 49.4% - 33.4%
2003 12.6% 51.8% - 32.1%
2002 14.1% 55.5% - 29.8%
2001 15.3% 44.6% 22.4% 30.1%
2000 15.8% 37.4% - 26.2%
1999 15.8% 35.4% - 23.7%
1998 13.1% 33.3% - 23.7%
1997 16.3% 21.9% - 25%
1996 20.4% - - -
1995 20.8% - - -
1994 25.5% - - -
1993 28.1% - - -
1992 29.6% - - -
1991 33.2% - 25.4% -
1990 25.4% - - -
1989 - - - -
1988 - - - -
1987 - - - -
1986 - - - -
1985 - - - -
1984 - - - -
1983 - - - -
1982 - - - -
1981 - - 23.6% -
1980 - - - -
1979 - - - -
1978 - - - -
1977 - - - -
1976 - - 20.3% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); National Statistics, Taiwan (1976–2024, retrieved 2026-07-08).

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

In 2025, the Solomon Islands' government spending was $711M, accounting for 40.6% of its GDP, while Taiwan spent $127B, or 15.8% of GDP.

Debt-to-GDP ratio is 28.7% in the Solomon Islands and 22.4% in Taiwan, ranking 158/185 and 170/185, respectively.

Government deficit by year

Deficit/surplus
Solomon Islands

Taiwan
1x
Year Deficit/surplus, % of GDP
Solomon Islands Taiwan
2025 -3.24% -
2024 -2.09% 0.43%
2023 -4.13% -0.61%
2022 -2.7% 0.17%
2021 -1.82% -0.18%
2020 -2.44% -1.03%
2019 -1.52% 0.11%
2018 1.49% 0.02%
2017 -2.27% -0.14%
2016 -3.56% -0.31%
2015 0.81% 0.1%
2014 2.13% -
2013 3.57% -
2012 4.63% -
2011 6.14% -2.15%
2010 5.67% -
2009 2.15% -
2008 1.75% -
2007 13.7% -
2006 11.3% -
2005 11.5% -
2004 14.5% -
2003 8.91% -
2002 -3.67% -
2001 -2.02% -3.7%
2000 -2.47% -
1999 -0.27% -
1998 4.25% -
1997 1.8% -
1996 3.15% -
1995 2.69% -
1994 3.65% -
1993 2.07% -
1992 3.48% -
1991 0.12% -4.5%
1990 0.49% -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -0.78%
1980 - -
1979 - -
1978 - -
1977 - -
1976 - 1.32%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); National Statistics, Taiwan (1976–2024, retrieved 2026-07-08).

GeoRank.org/economy/solomon-islands/taiwan | 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 Taiwan's surplus of $3.45B, or 0.43% of GDP.

Over the past 35 years, the Solomon Islands recorded a fiscal deficit in 12 of those years, while Taiwan ran a deficit in 8 years. On average, the Solomon Islands posted an annual surplus equal to 2.31% of GDP, compared to deficit of 0.91% of GDP for Taiwan.

Inflation comparison by year

Inflation
Solomon Islands

Taiwan
1x
Year Consumer prices inflation
Solomon Islands Taiwan
2025 3.36% 1.7%
2024 4.32% 2.2%
2023 5.89% 2.5%
2022 5.52% 2.9%
2021 -0.12% 2%
2020 2.96% -0.2%
2019 1.63% 0.6%
2018 3.46% 1.4%
2017 0.49% 0.6%
2016 0.51% 1.4%
2015 -0.57% -0.3%
2014 5.17% 1.2%
2013 5.39% 0.8%
2012 5.91% 1.9%
2011 7.34% 1.4%
2010 1.05% 1%
2009 7.09% -0.9%
2008 17.3% 3.5%
2007 7.67% 1.8%
2006 11.2% 0.6%
2005 7.33% 2.3%
2004 6.99% 1.6%
2003 8.27% -0.3%
2002 10.9% -0.2%
2001 6.93% 0%
2000 7.89% 1.2%
1999 8.02% 0.2%
1998 12.4% 1.7%
1997 8.08% 0.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, the Solomon Islands has recorded an average annual inflation rate of 5.95%, compared with 1.16% in Taiwan. In 2025, inflation was 3.36% in the Solomon Islands and 1.7% in Taiwan.

Balance of trade

Solomon Islands Taiwan
Current account balance
-$66.2M
2024
$113B
2024
Current account balance ranking
78/190
2024
5/190
2024
Current account balance, % of GDP
-4.18%
2024
+14.1%
2024
Goods imports
$609M
2024
n/a
Goods exports
$510M
2024
n/a
Service imports
$248M
2024
n/a
Service exports
$133M
2024
n/a
Imports of goods and services, % of GDP
70.8%
2024
54.5%
2025
Exports of goods and services, % of GDP
40.6%
2024
73.6%
2025

Economic freedom indices

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

Solomon Islands Taiwan
Economic freedom 53.7 79.8
Economic freedom ranking 137/197 6/197
Property rights 55.8 83.4
Government integrity 42.7 74.3
Judicial effectiveness 59.1 94.3
Tax burden 71.3 78.9
Government spending 54.6 90
Fiscal health 83.3 92.9
Business freedom 52.3 78.6
Labor freedom 60.4 69
Monetary freedom 76.5 80.3
Trade freedom 43.6 86
Investment freedom 15 70
Financial freedom 30 60

Economic freedom comparison by year

Solomon Islands
Taiwan
1x
Year Economic freedom index
Solomon Islands Taiwan
2026 53.7 79.8
2025 56.3 79.7
2024 55 80
2023 56.9 80.7
2022 56.5 80.1
2021 56.5 78.6
2020 52.9 77.1
2019 54.6 77.3
2018 57.5 76.6
2017 55 76.5
2016 47 74.7
2015 47 75.1
2014 46.2 73.9
2013 45 72.7
2012 46.2 71.9
2011 45.9 70.8
2010 42.9 70.4
2009 46 69.5
2008 - 70.3
2007 - 69.4
2006 - 69.7
2005 - 71.3
2004 - 69.6
2003 - 71.7
2002 - 71.3
2001 - 72.8
2000 - 72.5
1999 - 71.5
1998 - 70.4
1997 - 70
1996 - 74.1
1995 - 74.2

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

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

The Economic Freedom Index for the Solomon Islands is 53.7, ranking 137/197, compared to 79.8 for Taiwan, ranking 6/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Solomon Islands Taiwan
Services, % of GDP
46.9%
2024
58.1%
2024
Industry, % of GDP
23.4%
2024
40.4%
2024
Agriculture, forestry, and fishing, % of GDP
29.7%
2024
1.46%
2024
GNI, Atlas method
$1.7B
2025
$832B
2024
GNI per capita, PPP
$2,790
2025
n/a
Total reserves including gold
$686M
2024
n/a
Total reserves ranking
148/177
2024
n/a
Net foreign direct investment
$19.9M
2024
n/a
Net inflows of foreign direct investment
$33M
2024
n/a
Net outflows of foreign direct investment
$52.9M
2024
n/a
Servicing debt to the IMF, % of GNI
1.64%
2024
n/a
Poverty at national poverty lines
12.7%
2012
1.5%
2020
Gross capital formation, % of GDP
19.5%
2024
26.9%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); National Statistics, Taiwan (1985–2024, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1967–2025, retrieved 2026-07-08)
  2. National Statistics, Taiwan (1951–2026, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. 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.