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ECON FACTBOOK

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Economy of the Solomon Islands

Population: 561 thousand in 20131

GDP: $1.10 billion in 20132

GDP per capita: $1,954 nominal3 ($2,068 PPP4) in 2013

GDP growth rate: 3.0% in 20135

Industries

GDP by Industry 20126

Industry sectorValue added ($ millions) 2012Percent of total
Other activities35941.5%
Agriculture, hunting, forestry, fishing24928.9%
Wholesale, retail trade, restaurants and hotels9010.4%
Transport, storage and communication768.8%
Manufacturing515.9%
Construction192.2%
Mining and utilities192.2%
Total value added864100%

Employment

Unemployment rate: 3.8% in 20137

Employment by Industry 20008

Employment sectorPercent of total
Agriculture75%
Services20%
Industry5%
Total100%

Corporations

Top 10 Corporations by Revenue 20139

N/A

Households

Household Wealth: $3 billion (273% of GDP) in 201410

Household Wealth per Adult: $10,314 in 201410

Gini Coefficient: N/A

Government

Central Government

Central Government Revenue: $427 million (39% of GDP) in 201311

Central Government Expenditure: $410 million (37% of GDP) in 201311

Central Government Budget Balance: +$17 million (+2% of GDP) in 201311

Central Government Public Debt: $123 million (11% of GDP) in Q4 2014* 12

Central Government 10 Year Bond Interest Rate: N/A

* Public debt calculated using the exchange rate 7.46 SBD = 1 USD

Government Funds

N/A

Tax Structure

Individual Income Tax Rates and Thresholds in 2013* 13

Corporate Tax Rate: 30% in 201414

* Individual tax thresholds calculated using the exchange rate 7.46 SBD = 1 USD

Monetary Policy

Money Supply (M1): $358 million (32% of GDP) in Jun 2014* 15

Benchmark Interest Rate: N/A

Total Reserves: $520 million (47% of GDP) in 201316

Exchange Rate: 7.46 Solomon Islander Dollar = 1 U.S. Dollar on Feb 24, 201517

Inflation: 5.4% in 201318

* Money supply calculated using the exchange rate 7.46 SBD = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 201319

N/A (data not available at Relbanks.com)

International Accounts

Exports: $493 million (45% of GDP) in 201320

Imports: $446 million (41% of GDP) in 201320

Trade Balance: +$47 million (+4% of GDP) in 201320

Foreign Direct Investment Inflow: $44 million (4% of GDP) in 201321

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $305 million (28% of GDP) in 201222

Foreign Aid Outflow: N/A

References

1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: CIA World Factbook (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: CIA World Factbook (Government budget) Go back
12. Source: Central Bank of Solomon Islands, Reports and Publications, Government Debt Statistical Bulletin (Public debt) Go back
13. Source: Solomon Islands Government Income Tax Guide (Individual tax rates) Go back
14. Source: Tax Foundation (Corporate tax rate) Go back
15. Source: Central Bank of Solomon Islands, Publications & Statisitics, Monthly Monetary Statistics, Monetary Aggregates (Money supply) Go back
16. Source: World Bank Indicators (Total reserves) Go back
17. Source: xe.com (Exchange rate) Go back
18. Source: World Bank Indicators (Inflation rate) Go back
19. Source: Relbanks.com (Financial institutions by assets) Go back
20. Source: CIA World Factbook (Trade data) Go back
21. Source: World Bank Indicators (FDI data) Go back
22. Source: World Bank Indicators (Aid data) Go back