| Economy | Solomon Islands |
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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):
|
$1.078 billion (2008 est.)
$1.005 billion (2007)
$911.1 million (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$1,900 (2008 est.)
$1,800 (2007 est.)
$1,600 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$460 million (2008 est.) |
GDP - real growth rate:
|
7.3% (2008 est.)
10.3% (2007 est.)
6.1% (2006 est.) |
GDP - composition by sector:
|
agriculture: 42%
industry: 11%
services: 47% (2000 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
6.3% (2007 est.) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
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14.12% (31 December 2007) |
Stock of money:
|
$118.3 million (31 December 2007) |
Stock of money - per capita:
|
199 USD per capita |
Stock of quasi money:
|
$57.89 million (31 December 2007) |
Stock of quasi money - per capita:
|
98 USD per capita |
Stock of domestic credit:
|
$126.9 million (31 December 2007) |
Stock of domestic credit - per capita:
|
214 USD per capita |
Labor force:
|
249,200 (1999) |
Labor force participation rate:
|
41.84 % of population |
Labor force - by occupation:
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agriculture: 75%
industry: 5%
services: 20% (2000 est.) |
Unemployment rate:
|
NA% |
Budget:
|
revenues: $49.7 million
expenditures: $75.1 million (2003) |
Budget revenues per capita:
|
84 USD per capita |
Public debt:
|
void |
Industries:
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fish (tuna), mining, timber |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
70 million kWh (2007 est.) |
Electricity - production per capita:
|
118 kWh per capita |
Electricity - consumption:
|
70 million kWh (2007 est.) |
Electricity - consumption - per capita:
|
118 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
1,320 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
0.81 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2005) |
Oil - imports:
|
1,426 bbl/day (2005) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
cocoa beans, coconuts, palm kernels, rice, potatoes, vegetables, fruit; timber; cattle, pigs; fish |
Current account balance:
|
-$143 million (2007 est.) |
Current account balance - per capita:
|
-240 USD per capita |
Exports:
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$237 million f.o.b. (2006) |
Exports per capita:
|
398 USD per capita |
Exports - commodities:
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timber, fish, copra, palm oil, cocoa |
Exports - partners:
|
China 50.8%, South Korea 7%, Thailand 6.5%, Japan 5.7%, Philippines 4.3% (2007) |
Imports:
|
$256 million f.o.b. (2006) |
Imports per capita:
|
430 USD per capita |
Imports - commodities:
|
food, plant and equipment, manufactured goods, fuels, chemicals |
Imports - partners:
|
Singapore 28.2%, Australia 25.4%, Japan 4.6%, NZ 4.5%, Fiji 4% (2007) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$166 million (2004) |
Debt - external - per capita:
|
279 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$198.2 million annually, mainly from Australia (2005 est.) |
Economic aid - recipient per capita:
|
333 USD per capita |
Currency (code):
|
Solomon Islands dollar (SBD) |
Exchange rates:
|
Solomon Islands dollars (SBD) per US dollar - NA (2007), 7.3447 (2006), 7.5299 (2005), 7.4847 (2004), 7.5059 (2003) |
Fiscal year:
|
calendar year |
|
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