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Solomon Islands Economy 2013
http://www.theodora.com/wfbcurrent/solomon_islands/solomon_islands_economy.html
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES
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Page last updated on February 5, 2013

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 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):
$1.922 billion (2012 est.)
country comparison to the world: 193

$1.79 billion (2011 est.)
$1.617 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.039 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
7.4% (2012 est.)
country comparison to the world: 22

10.7% (2011 est.)
7.8% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,400 (2012 est.)
country comparison to the world: 169

$3,200 (2011 est.)
$3,000 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 33.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 9.3%
services: 57.4% (2012 est.)

Labor force:
202,500 (2007)
country comparison to the world: 169
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 75%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 5%
services: 20% (2000 est.)

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Budget:
revenues: $339.7 million
[see also: Budget revenues country ranks ]
expenditures: $285.4 million (2012 est.)

Taxes and other revenues:
32.7% of GDP (2012 est.)
country comparison to the world: 82
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
5.2% of GDP (2012 est.)
country comparison to the world: 13
[see also: Budget surplus (+) or deficit (-) country ranks ]

Inflation rate (consumer prices):
4% (2012 est.)
country comparison to the world: 114

4.2% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
11.3% (31 December 2012 est.)
country comparison to the world: 65

13.17% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$283.4 million (31 December 2012 est.)
country comparison to the world: 174

$254.5 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$386.4 million (31 December 2012 est.)
country comparison to the world: 183

$353.8 million (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$54.47 million (31 December 2012 est.)
country comparison to the world: 189

$49.2 million (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Agriculture - products:
cocoa, coconuts, palm kernels, rice, potatoes, vegetables, fruit; cattle, pigs; fish; timber

Industries:
fish (tuna), mining, timber

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Current account balance:
-$207.9 million (2009 est.)
country comparison to the world: 78

-$372.6 million (2010 est.)
[see also: Current account balance country ranks ]

Exports:
$226.5 million (2010 est.)
country comparison to the world: 182

$226.5 million (2010 est.)
[see also: Exports country ranks ]

Exports - commodities:
timber, fish, copra, palm oil, cocoa

Exports - partners:
China 52.4%, Australia 12.1%, Thailand 4.5% (2011)

Imports:
$360.3 million (2010 est.)
country comparison to the world: 193

$360.3 million (2010 est.)
[see also: Imports country ranks ]

Imports - commodities:
food, plant and equipment, manufactured goods, fuels, chemicals

Imports - partners:
Australia 27%, Singapore 26.1%, China 6.4%, Malaysia 5.8%, NZ 5% (2011)

Debt - external:
$166 million (2004)
country comparison to the world: 186
[see also: Debt - external country ranks ]

Exchange rates:
Solomon Islands dollars (SBD) per US dollar -

7.359 (2012 est.)
7.6413 (2011 est.)
8.0645 (2010 est.)

Fiscal year:
calendar year


NOTE: The information regarding Solomon Islands on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Solomon Islands Economy 2013 information contained here. All suggestions for corrections of any errors about Solomon Islands Economy 2013 should be addressed to the CIA.


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