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Solomon Islands

Includes historical data for Solomon Islands’ Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Agriculture, Fishing, And Mining Power Economy

Formerly a British protectorate, the Solomon Islands is a parliamentary democracy within the Commonwealth realm. Situated in the southwest Pacific Ocean, this chain of islands boasts terrain ranging from ruggedly mountainous peaks to picturesque coral atolls, making it an increasingly popular tourist destination. With a population of less than 800,000, exports primarily consist of minerals, timber, fish, palm oil and cocoa. The government extends incentives to attract foreign investors, focusing on key sectors such as agriculture, mining, fisheries, tourism and services.

However, the nation also grapples with bureaucratic sluggishness and regulatory inconsistency, an underdeveloped labor market, and limited access to credit, which stifles business initiatives. Additionally, the China-Solomon Islands security agreement signed in 2022, while potentially economically beneficial, has drawn criticism from the United States and its allies.

Macroeconomy & Sovereign Data

Type of Government Parliamentary democracy under a constitutional monarchy; a Commonwealth realm
Capital Honiara
Sovereign Ratings S&P: Not rated
Moody’s: Caa1
Fitch: Not rated
Total Population 758,000
Median Age 19.5
Adult Per Capita Income (PPP) 4,694.67
Total GDP (2023) 1.8 billion

Solomon Islands GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 555.8 million (2022)
Leading Exports Refined Petroleum
Scrap Iron
Iron Structures
Poultry Meats
Total Imports USD 575.1 million (2022)
Leading Imports Lumber
Palm Oil
Coconut Oil
Source: World Integrated Trade Solution

Solomon Islands Leading Companies

National Provident Fund (NPF) Financials
Solomon Islands Telekom Company Telecommunication Services
Solomon Islands Broadcasting Authority Communication Services, Media
Solomon Breweries Consumer Discretionary
Solomon Islands Tobacco Company Consumer Staples, Tobacco
Solomon Airlines Limited (SAL) Transportation, Airlines

Major Trade Partners — Import

Australia 18.2%
Singapore 16.3%
China 14.9%
Malaysia 12.9%
Other Asia 7.2%

Major Trade Partners — Export

China 66.8%
Italy 7.2%
India 5.1%
Switzerland 2.4%
Thailand 2.1%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000