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Economy of Solomon Islands vs Togo compared: GDP & Debt

Updated on by Georank team

The Solomon Islands has a GDP of $1.76B compared to $9.93B for Togo, ranking 182/197 and 154/197 by economy size, respectively.

The Solomon Islands has $388M in government debt (23.7% of GDP), compared to $7.01B (69.5% of GDP) in Togo.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Solomon Islands
GDP, current $

GDP, constant 2015 $
Togo
GDP, current $

GDP, constant 2015 $
Year GDP
Solomon Islands Togo
Current $ Constant $ Current $ Constant $
1960 - - $171,057,069 $751,799,549
1961 - - $178,497,098 $843,288,422
1962 - - $186,745,758 $875,111,200
1963 - - $202,305,865 $918,864,084
1964 - - $234,572,186 $1,050,133,111
1965 - - $264,505,506 $1,212,480,673
1966 - - $305,227,595 $1,326,559,573
1967 $25,203,524 - $327,215,844 $1,399,525,279
1968 $28,084,253 - $341,691,567 $1,469,833,116
1969 $28,606,411 - $378,091,810 $1,629,028,806
1970 - - $358,665,754 $1,670,150,423
1971 $50,056,883 - $404,648,368 $1,670,150,423
1972 $40,606,712 - $474,043,922 $1,797,502,024
1973 $55,272,109 - $574,030,984 $1,866,480,877
1974 $84,539,332 - $791,450,308 $1,956,685,082
1975 $74,620,320 - $871,781,687 $2,004,438,787
1976 $83,100,834 - $874,681,612 $1,963,317,272
1977 $93,145,283 - $1,097,893,826 $2,099,946,197
1978 $111,027,427 - $1,164,025,637 $2,331,894,379
1979 $151,276,496 - $1,259,365,712 $2,211,388,079
1980 $182,852,107 $526,656,506 $1,604,836,916 $2,533,741,149
1981 $193,750,541 $517,192,386 $1,359,026,709 $2,449,742,915
1982 $192,902,019 $508,557,520 $1,160,337,039 $2,361,983,262
1983 $181,220,399 $528,343,417 $1,081,387,265 $2,234,105,305
1984 $181,570,474 $529,242,659 $1,014,170,069 $2,358,222,255
1985 $165,524,943 $512,665,070 $1,076,604,520 $2,489,234,522
1986 $147,620,048 $511,632,408 $1,498,219,579 $2,528,726,335
1987 $155,128,542 $554,718,560 $1,763,978,066 $2,541,626,941
1988 $176,494,394 $561,653,631 $1,947,208,354 $2,710,451,200
1989 $172,882,411 $585,603,984 $1,910,635,575 $2,820,496,107
1990 $214,877,667 $598,487,271 $2,299,665,506 $2,813,623,795
1991 $227,540,473 $634,396,517 $2,262,767,860 $2,793,929,343
1992 $269,034,596 $714,964,863 $2,390,796,916 $2,682,711,766
1993 $300,746,361 $743,563,455 $1,741,944,426 $2,277,734,226
1994 $402,837,005 $803,792,104 $1,387,662,121 $2,618,993,805
1995 $469,443,202 $884,883,597 $1,849,110,468 $2,824,475,668
1996 $510,586,430 $899,129,406 $2,069,506,014 $3,074,052,315
1997 $526,554,006 $890,910,669 $2,116,818,623 $3,516,020,423
1998 $457,579,840 $902,416,890 $2,241,650,112 $3,435,156,293
1999 $488,024,514 $898,033,573 $2,226,577,204 $3,520,408,334
2000 $419,842,674 $769,821,324 $2,106,848,752 $3,492,826,653
2001 $409,508,553 $708,569,673 $2,093,498,674 $3,521,587,941
2002 $346,406,739 $688,729,844 $2,410,199,032 $3,656,345,820
2003 $417,668,983 $733,658,907 $2,987,984,051 $3,902,058,527
2004 $468,005,319 $790,028,121 $3,191,561,509 $3,863,870,433
2005 $552,864,570 $848,157,142 $3,221,910,408 $3,683,570,671
2006 $617,258,154 $883,256,262 $3,320,907,722 $3,781,190,160
2007 $695,295,348 $915,403,897 $3,759,964,943 $3,736,756,623
2008 $776,337,692 $972,396,664 $4,578,849,658 $3,887,558,865
2009 $805,557,563 $1,000,248,710 $4,721,890,900 $4,099,579,483
2010 $898,133,685 $1,097,356,737 $4,746,389,532 $4,339,583,325
2011 $1,063,895,361 $1,178,889,790 $5,422,442,166 $4,592,288,208
2012 $1,185,215,418 $1,207,961,229 $5,413,544,658 $4,881,726,147
2013 $1,285,911,586 $1,271,231,099 $6,021,732,977 $5,166,050,855
2014 $1,335,571,421 $1,286,348,802 $6,393,318,262 $5,457,066,909
2015 $1,307,909,888 $1,307,909,888 $5,755,461,035 $5,755,461,035
2016 $1,379,490,304 $1,380,560,771 $6,071,170,959 $5,998,047,710
2017 $1,469,789,119 $1,423,017,819 $6,387,422,518 $6,238,457,455
2018 $1,615,478,393 $1,462,093,823 $7,029,300,383 $6,537,595,250
2019 $1,619,155,017 $1,487,659,507 $6,992,700,101 $6,859,436,221
2020 $1,536,145,814 $1,437,359,544 $7,400,284,168 $6,996,086,824
2021 $1,522,794,913 $1,474,218,470 $8,342,243,646 $7,415,213,718
2022 $1,566,360,686 $1,509,636,295 $8,169,476,149 $7,842,296,104
2023 $1,660,896,531 $1,549,737,698 $9,171,261,838 $8,344,824,334
2024 $1,760,767,447 $1,589,090,837 $9,925,732,120 $8,787,100,467

Economic indicators

Solomon Islands Togo
Gross domestic product
$1.76B
2024
$9.93B
2024
GDP rank
182/197
2024
154/197
2024
GDP growth
6.01%
2023-2024
8.23%
2023-2024
GDP per capita
$2,149
2024
$1,043
2024
GDP per capita rank
153/197
2024
174/197
2024
GDP per capita, PPP
$2,872
2024
$3,239
2024
Government debt
$388M
2024
$7.01B
2024
Debt-to-GDP ratio
23.7%
2025
69.5%
2025
Government debt per person
$473
2024
$737
2024
Government debt per person rank
169/185
2024
153/185
2024
Average annual personal income after taxes
$2,069
2025
$1,736
2025
Income share by richest 10%
29.2%
2012
29.6%
2021
Income share by poorest 10%
2.8%
2012
2.8%
2021
Government expenditure, % of GDP
35.7%
2025
21.6%
2025
Consumer prices inflation
4.32%
2023-2024
2.86%
2023-2024
Unemployment rate
0.69%
2013
1.97%
2022
Population
854419
9889741

GDP per capita in Solomon Islands vs Togo

The Solomon Islands' GDP per capita is $2,149, ranking 153/197, compared to $1,043 in Togo, ranking 174/197. Adjusted for purchasing power (GDP per capita PPP), the Solomon Islands ranks 183rd at $2,872, while Togo ranks 176th at $3,239.

Solomon Islands
GDP per capita

GDP per capita, PPP
Togo
GDP per capita

GDP per capita, PPP
Year Current $
Solomon Islands Togo
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $102.2 -
1961 - - $104.8 -
1962 - - $107.8 -
1963 - - $114.6 -
1964 - - $130.1 -
1965 - - $142.7 -
1966 - - $159.1 -
1967 $153.5 - $163.9 -
1968 $166.9 - $164.3 -
1969 $165.9 - $174.7 -
1970 $162 - $159.8 -
1971 $277.1 - $174.6 -
1972 $219.5 - $198.8 -
1973 $291.3 - $234.4 -
1974 $433 - $315 -
1975 $372 - $339 -
1976 $401 - $332 -
1977 $434 - $406 -
1978 $500 - $421 -
1979 $658 - $443 -
1980 $768 - $549 -
1981 $786 - $451 -
1982 $756 - $372 -
1983 $686 - $336 -
1984 $665 - $304 -
1985 $586 - $313 -
1986 $506 - $422 -
1987 $515 - $482 -
1988 $567 - $517 -
1989 $538 - $492 -
1990 $648 $1,266 $575 $1,110
1991 $666 $1,346 $550 $1,107
1992 $764 $1,505 $565 $1,057
1993 $829 $1,556 $414 $925
1994 $1,078 $1,668 $329 $1,082
1995 $1,220 $1,821 $419 $1,140
1996 $1,289 $1,830 $452 $1,218
1997 $1,292 $1,793 $448 $1,373
1998 $1,092 $1,785 $461 $1,318
1999 $1,134 $1,754 $445 $1,332
2000 $953 $1,503 $410 $1,315
2001 $912 $1,387 $397 $1,320
2002 $757 $1,344 $445 $1,357
2003 $896 $1,433 $538 $1,440
2004 $986 $1,556 $560 $1,427
2005 $1,144 $1,693 $551 $1,368
2006 $1,256 $1,786 $553 $1,407
2007 $1,390 $1,869 $608 $1,387
2008 $1,526 $1,989 $719 $1,429
2009 $1,555 $2,021 $721 $1,474
2010 $1,685 $2,182 $705 $1,537
2011 $1,924 $2,306 $784 $1,616
2012 $2,066 $2,320 $762 $1,645
2013 $2,161 $2,394 $827 $1,715
2014 $2,165 $2,377 $856 $1,803
2015 $2,045 $2,354 $751 $1,880
2016 $2,083 $2,421 $773 $1,933
2017 $2,144 $2,454 $793 $1,986
2018 $2,278 $2,494 $851 $2,067
2019 $2,224 $2,512 $826 $2,215
2020 $2,063 $2,405 $854 $2,357
2021 $1,997 $2,518 $940 $2,577
2022 $2,005 $2,697 $899 $2,852
2023 $2,076 $2,801 $986 $3,072
2024 $2,149 $2,872 $1,043 $3,239

Spending and national debt comparison

In 2024, the Solomon Islands' government spending was $630M, accounting for 35.7% of its GDP, while Togo's spent $2.35B, or 21.6% of GDP.

Debt-to-GDP ratio is 23.7% in the Solomon Islands and 69.5% in Togo, ranking 171/185 and 56/185, respectively.

Solomon Islands
Government spending

Government debt
Togo
Government spending

Government debt
Year % of GDP
Solomon Islands Togo
Government spending Government debt Government spending Government debt
1989 - - 16.9% 46.3%
1990 30% - 16.8% 44.7%
1991 39.4% - 14.6% 46.9%
1992 35.1% - 12.6% 45%
1993 33.2% - 14.8% 58.3%
1994 30.2% - 13.2% 79%
1995 24.7% - 12.7% 64.8%
1996 24.2% - 12.4% 60.4%
1997 19.3% 25.9% 10.6% 54.4%
1998 15.5% 39.5% 12.8% 62.8%
1999 18.7% 42% 11.9% 59.9%
2000 18.7% 44.3% 11.9% 66.5%
2001 18.1% 52.8% 10.9% 68.5%
2002 16.7% 65.7% 8.42% 54.8%
2003 14.9% 61.3% 8.88% 50%
2004 14.7% 58.2% 10.6% 48.7%
2005 17% 44.7% 13.3% 63.1%
2006 19.9% 42.3% 14.7% 67.7%
2007 23.7% 33% 13.7% 70.5%
2008 27% 28.9% 12.4% 67.3%
2009 24.8% 18.9% 14.3% 57.6%
2010 23.9% 22.9% 15.1% 33.5%
2011 27% 18.3% 18.2% 33.8%
2012 29.4% 13.3% 19.1% 34.3%
2013 41.8% 11.6% 20.5% 41.1%
2014 39.8% 10.1% 21.9% 44.9%
2015 41.5% 7.88% 22.9% 52.4%
2016 39.6% 7.54% 22.9% 59.9%
2017 40.4% 8.77% 16.3% 57.1%
2018 34.8% 7.95% 18.8% 58%
2019 35.6% 7.82% 16.6% 54.9%
2020 40.4% 12.8% 23.7% 62.2%
2021 37.8% 15.9% 21.8% 64.9%
2022 40.8% 15.5% 26% 67.4%
2023 40.1% 20.3% 26.6% 68%
2024 35.8% 22% 23.7% 70.6%
2025 35.7% 23.7% 21.6% 69.5%

Government deficit by year

In 2024, the Solomon Islands' government deficit, the difference between spending and revenue, was -$54.3M, equivalent to -3.08% of GDP. This compares to Togo's deficit of -$484M, or -4.88% of GDP.

Over the past 35 years, the Solomon Islands recorded a fiscal deficit in 12 of those years, while Togo ran a deficit in 32 years. On average, the Solomon Islands posted an annual surplus equal to +2.66% of GDP, compared to deficit of -3.21% of GDP for Togo.

Deficit/surplus
Solomon Islands

Togo
Year Deficit/surplus, % of GDP
Solomon Islands Togo
1989 - -2.18%
1990 0.58% -1.65%
1991 0.14% -3.52%
1992 4.13% -2.27%
1993 2.45% -8.46%
1994 4.33% -5.37%
1995 3.19% -2.97%
1996 3.73% -3.26%
1997 2.14% -0.98%
1998 5.04% -3.25%
1999 -0.32% -1.76%
2000 -2.93% -3.45%
2001 -2.4% -0.72%
2002 -4.35% -0.28%
2003 10.6% 1.43%
2004 17% 0.61%
2005 13.4% -1.67%
2006 13% -1.94%
2007 15.3% -1.83%
2008 1.94% -0.59%
2009 2.35% -2.63%
2010 6.02% -1.66%
2011 6.22% -4.48%
2012 4.63% -4.63%
2013 3.57% -5.08%
2014 2.13% -7.11%
2015 0.81% -7.04%
2016 -3.56% -7.02%
2017 -2.27% -0.21%
2018 1.49% -0.59%
2019 -1.52% 1.67%
2020 -2.44% -7.05%
2021 -1.86% -4.65%
2022 -2.51% -8.33%
2023 -3.81% -6.73%
2024 -3.08% -4.88%
2025 -3.15% -2.97%

Inflation comparison by year

Over the past 29 years, the Solomon Islands has recorded an average annual inflation rate of 6.24%, compared with 2.79% in Togo. In 2024, inflation was 4.32% in the Solomon Islands and 2.86% in Togo.

Inflation
Solomon Islands

Togo
Year Inflation
Solomon Islands Togo Solomon Islands Togo
1996 11.8% 4.69%
1997 8.08% 8.25%
1998 12.4% 0.98%
1999 8.02% -0.05%
2000 7.89% 1.86%
2001 6.93% 3.92%
2002 10.9% 3.06%
2003 8.27% -0.93%
2004 6.99% 0.39%
2005 7.33% 6.78%
2006 11.2% 2.23%
2007 7.67% 0.95%
2008 17.3% 8.69%
2009 7.09% 3.71%
2010 1.05% 1.45%
2011 7.34% 3.56%
2012 5.91% 2.58%
2013 5.39% 1.83%
2014 5.17% 0.19%
2015 -0.57% 2.59%
2016 0.51% 1.29%
2017 0.49% -0.98%
2018 3.46% 0.93%
2019 1.63% 0.67%
2020 2.96% 1.7%
2021 -0.12% 4.19%
2022 5.52% 7.97%
2023 5.89% 5.49%
2024 4.32% 2.86%

Balance of trade

Solomon Islands Togo
Current account balance
-$66.2M
2024
-$20.7M
2020
Current account balance ranking
83/189
2024
75/189
2020
Current account balance, % of GDP
-3.76%
2024
-0.28%
2020
Goods imports
$609M
2024
$1.95B
2020
Goods exports
$510M
2024
$1.21B
2020
Service imports
$248M
2024
$438M
2020
Service exports
$133M
2024
$514M
2020
Imports of goods and services, % of GDP
51.7%
2022
38.1%
2024
Exports of goods and services, % of GDP
26.3%
2022
24.4%
2024

Economic freedom indices

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

Solomon Islands Togo
Economic freedom 56.3 52.3
Economic freedom ranking 121/197 147/197
Property rights 48.2 37
Government integrity 42 31.6
Judicial effectiveness 61.9 37.1
Tax burden 70.6 70.5
Government spending 70.2 81.6
Fiscal health 95.3 21.7
Business freedom 50.1 59.9
Labor freedom 60.5 51.9
Monetary freedom 76.2 69.8
Trade freedom 55.4 66.8
Investment freedom 15 60
Financial freedom 30 40

Economic freedom by year comparison

The Economic Freedom Index for the Solomon Islands is 56.3, ranking 121/197, compared to 52.3 for Togo, ranking 147/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Solomon Islands
Togo
Year Economic freedom index
Solomon Islands Togo
1999 - 48.2
2000 - 46.4
2001 - 45.3
2002 - 45.2
2003 - 46.8
2004 - 47
2005 - 48.2
2006 - 47.3
2007 - 49.7
2008 - 48.9
2009 46 48.7
2010 42.9 47.1
2011 45.9 49.1
2012 46.2 48.3
2013 45 48.8
2014 46.2 49.9
2015 47 53
2016 47 53.6
2017 55 53.2
2018 57.5 47.8
2019 54.6 50.3
2020 52.9 54.1
2021 56.5 57.5
2022 56.5 57.2
2023 56.9 55.3
2024 55 50.9
2025 56.3 52.3

More economic indicators

Solomon Islands Togo
Services, % of GDP
47.3%
2022
52%
2024
Industry, % of GDP
18.7%
2022
20%
2024
Agriculture, forestry, and fishing, % of GDP
33.8%
2022
18%
2024
GNI, Atlas method
$1.71B
2024
$9.6B
2024
GNI per capita, PPP
$2,880
2024
$3,250
2024
Total reserves including gold
$688M
2023
n/a
Total reserves ranking
149/177
2023
n/a
Net foreign direct investment
$19.9M
2024
-$53.1M
2020
Net inflows of foreign direct investment
$33M
2024
$83.8M
2024
Net outflows of foreign direct investment
$52.9M
2024
-$73.4M
2024
Servicing debt to the IMF, % of GNI
1.77%
2023
2.8%
2023
Poverty at national poverty lines
12.7%
2012
43.8%
2021
Gross capital formation, % of GDP
23.4%
2022
22.3%
2024

GDP per capita map

GDP per capita

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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.