Economy – overview:
The bulk of the population depends on agriculture, fishing, and forestry for at least part of its livelihood. Most manufactured goods and petroleum products must be imported. The islands are rich in undeveloped mineral resources such as lead, zinc, nickel, and gold. Prior to the arrival of The Regional Assistance Mission to the Solomon Islands (RAMSI), severe ethnic violence, the closing of key businesses, and an empty government treasury culminated in economic collapse. RAMSI’s efforts to restore law and order and economic stability have led to modest growth as the economy rebuilds.
GDP (purchasing power parity):
$1.958 billion (2013 est.)

country comparison to the world: 194

$1.883 billion (2012 est.)
$1.798 billion (2011 est.)
note: data are in 2013 US dollars
GDP (official exchange rate):
$1.099 billion (2013 est.)
GDP – real growth rate:
4% (2013 est.)

country comparison to the world: 80

4.8% (2012 est.)
10.7% (2011 est.)
GDP – per capita (PPP):
$3,400 (2013 est.)

country comparison to the world: 175

$3,300 (2012 est.)
$3,300 (2011 est.)
note: data are in 2013 US dollars
GDP – composition, by sector of origin:
agriculture: 50%
industry: 10.6%
services: 39.4% (2013 est.)
Agriculture – products:
cocoa, coconuts, palm kernels, rice, fruit; cattle, pigs; fish; timber
Industries:
fish (tuna), mining, timber
Industrial production growth rate:
14% (2013 est.)

country comparison to the world: 4

Labor force:
202,500 (2007)

country comparison to the world: 170

Labor force – by occupation:
agriculture: 75%
industry: 5%
services: 20% (2000 est.)
Unemployment rate:
NA%
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Budget:
revenues: $437.3 million
expenditures: $409.9 million (2013 est.)
Taxes and other revenues:
39.8% of GDP (2013 est.)

country comparison to the world: 44

Budget surplus (+) or deficit (-):
2.5% of GDP (2013 est.)

country comparison to the world: 15

Fiscal year:
calendar year
Inflation rate (consumer prices):
2.6% (2012 est.)

country comparison to the world: 98

2.6% (2012 est.)
Commercial bank prime lending rate:
11.2% (31 December 2013 est.)

country comparison to the world: 71

11.28% (31 December 2012 est.)
Stock of narrow money:
$335.3 million (31 December 2013 est.)

country comparison to the world: 167

$326.3 million (31 December 2012 est.)
Stock of broad money:
$417.9 million (31 December 2013 est.)

country comparison to the world: 182

$417.4 million (31 December 2012 est.)
Stock of domestic credit:
$41.38 million (31 December 2013 est.)

country comparison to the world: 177

$37.73 million (31 December 2012 est.)
Current account balance:
-$1.2 million (2012 est.)

country comparison to the world: 60

-$60.6 million (2011 est.)
Exports:
$493.1 million

country comparison to the world: 175

$415.2 million (2011 est.)
Exports – commodities:
timber, fish, copra, palm oil, cocoa
Exports – partners:
China 50.8%, Australia 17.5% (2012)
Imports:
$446 million (2012 est.)

country comparison to the world: 192

$446 million (2012 est.)
Imports – commodities:
food, plant and equipment, manufactured goods, fuels, chemicals
Imports – partners:
Singapore 27.2%, Australia 25.7%, China 7.1%, NZ 4.9%, Malaysia 4.8% (2012)
Debt – external:
$255.5 million (31 December 2011 est.)

country comparison to the world: 184

$166 million (2004)
Exchange rates:
Solomon Islands dollars (SBD) per US dollar –
7.318 (2013 est.)
7.3552 (2012 est.)
8.0645 (2010 est.)