unbekannter Gast

Solomon Islands: Economy#

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.

Economic Facts#

GDP (purchasing power parity)$1.958 billion (2013 est.)
$1.883 billion (2012 est.)
$1.798 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate4% (2013 est.)
4.8% (2012 est.)
10.7% (2011 est.)
GDP - per capita (PPP)$3,400 (2013 est.)
$3,300 (2012 est.)
$3,300 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 50%
industry: 10.6%
services: 39.4% (2013 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: 75%
industry: 5%
services: 20% (2000 est.)
Exports - commoditiestimber, fish, copra, palm oil, cocoa
Exports - partnersChina 50.8%, Australia 17.5% (2012)
Agriculture - productscocoa, coconuts, palm kernels, rice, fruit; cattle, pigs; fish; timber
Budgetrevenues: $437.3 million
expenditures: $409.9 million (2013 est.)
Imports - commoditiesfood, plant and equipment, manufactured goods, fuels, chemicals
Imports - partnersSingapore 27.2%, Australia 25.7%, China 7.1%, NZ 4.9%, Malaysia 4.8% (2012)
Exchange ratesSolomon Islands dollars (SBD) per US dollar -
7.318 (2013 est.)
7.3552 (2012 est.)
8.0645 (2010 est.)
Exports$493.1 million
$415.2 million (2011 est.)
Debt - external$255.5 million (31 December 2011 est.)
$166 million (2004)
Fiscal yearcalendar year
Imports$446 million (2012 est.)
$446 million (2012 est.)
Industrial production growth rate14% (2013 est.)
Industriesfish (tuna), mining, timber
Inflation rate (consumer prices)2.6% (2012 est.)
2.6% (2012 est.)
Labor force202,500 (2007)
Unemployment rateNA%
Current account balance-$1.2 million (2012 est.)
-$60.6 million (2011 est.)
GDP (official exchange rate)$1.099 billion (2013 est.)
Commercial bank prime lending rate11.2% (31 December 2013 est.)
11.28% (31 December 2012 est.)
Stock of domestic credit$41.38 million (31 December 2013 est.)
$37.73 million (31 December 2012 est.)
Stock of narrow money$335.3 million (31 December 2013 est.)
$326.3 million (31 December 2012 est.)
Stock of broad money$417.9 million (31 December 2013 est.)
$417.4 million (31 December 2012 est.)
Taxes and other revenues39.8% of GDP (2013 est.)
Budget surplus (+) or deficit (-)2.5% of GDP (2013 est.)