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World Factbook

Solomon Islands

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$436.174 million (2022 est.)

expenditures

$482.24 million (2022 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$411.359 million (2022 est.)

Exports 2023

$546.025 million (2023 est.)

Exports 2024

$642.877 million (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$764.641 million (2022 est.)

Imports 2023

$883.611 million (2023 est.)

Imports 2024

$857.128 million (2024 est.)

Industries

fish (tuna), mining, timber

Labor force

435,600 (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2022

15.4% of GDP (2022 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

5.2% of GDP (2022 est.)

Remittances 2023

5.1% of GDP (2023 est.)

Remittances 2024

5.4% of GDP (2024 est.)

Exchange rates

Currency

Solomon Islands dollars (SBD) per US dollar -

Exchange rates 2020

8.213 (2020 est.)

Exchange rates 2021

8.03 (2021 est.)

Exchange rates 2022

8.156 (2022 est.)

Exchange rates 2023

8.376 (2023 est.)

Exchange rates 2024

8.455 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$184.191 million (2023 est.)

Economic overview

lower middle-income Pacific island economy; natural resource rich but environmentally fragile; key agrarian sector; growing Chinese economic relationship; infrastructure damage due to social unrest; metal mining operations

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

1.5% (2022 est.)

Unemployment rate 2023

1.5% (2023 est.)

Unemployment rate 2024

1.5% (2024 est.)

Exports - partners

China 56%, Australia 11%, Italy 10%, Spain 5%, Netherlands 4% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 42%, Singapore 13%, Australia 13%, Taiwan 5%, Malaysia 5% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$2,500 (2022 est.)

Real GDP per capita 2023

$2,500 (2023 est.)

Real GDP per capita 2024

$2,500 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

2.4% (2022 est.)

Real GDP growth rate 2023

2.7% (2023 est.)

Real GDP growth rate 2024

2.5% (2024 est.)

Agricultural products

oil palm fruit, coconuts, sweet potatoes, yams, taro, fruits, pulses, vegetables, cocoa beans, cassava (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

wood, fish, gold, precious metal ore, palm oil (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, plastic products, fish, broadcasting equipment, iron structures (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$218.534 million (2022 est.)

Current account balance 2023

-$178.197 million (2023 est.)

Current account balance 2024

-$66.231 million (2024 est.)

Taxes and other revenues

20.7% (of GDP) (2022 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$1.761 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

61.7% (2022 est.)

government consumption

29.2% (2022 est.)

investment in inventories

-1% (2022 est.)

investment in fixed capital

24.4% (2022 est.)

exports of goods and services

26.3% (2022 est.)

imports of goods and services

-51.7% (2022 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2021

-0.1% (2021 est.)

Inflation rate (consumer prices) 2022

5.5% (2022 est.)

Inflation rate (consumer prices) 2023

5.9% (2023 est.)

Industrial production growth rate

4.7% (2022 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$1.967 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$2.019 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$2.07 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

2.6% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

3% (2024 est.)

female

3.4% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2021

$694.515 million (2021 est.)

Reserves of foreign exchange and gold 2022

$661.604 million (2022 est.)

Reserves of foreign exchange and gold 2023

$688.22 million (2023 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

18.7% (2022 est.)

services

47.3% (2022 est.)

agriculture

33.8% (2022 est.)