| 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 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):
|
$1.734 billion (2011 est.)
$1.632 billion (2010 est.)
$1.53 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$3,300 (2011 est.)
$3,200 (2010 est.)
$3,100 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$800 million (2011 est.) |
GDP - real growth rate:
|
5.7% (2011 est.)
6.5% (2010 est.)
-1.2% (2009 est.) |
GDP - composition by sector:
|
agriculture: 29.8%
industry: 7%
services: 63.2% (2011 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):
|
5.4% (2011 est.)
1.3% (2010 est.) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
13.5% (31 December 2011 est.)
14.4% (31 December 2010 est.) |
Stock of money:
|
$86.96 million (31 December 2008)
$94 million (31 December 2007) |
Stock of money - per capita:
|
153 USD per capita |
Stock of quasi money:
|
$96.79 million (31 December 2008)
$85.47 million (31 December 2007) |
Stock of quasi money - per capita:
|
170 USD per capita |
Stock of domestic credit:
|
$162.5 million (31 December 2011 est.)
$148.1 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
285 USD per capita |
Stock of narrow money:
|
$194.6 million (31 December 2011 est.)
$161.2 million (31 December 2010 est.) |
Stock of broad money:
|
$264.8 million (31 December 2010 est.)
$227.1 million (31 December 2009 est.) |
Labor force:
|
202,500 (2007) |
Labor force participation rate:
|
35.41 % of population |
Labor force - by occupation:
|
agriculture: 75%
industry: 5%
services: 20% (2000 est.) |
Unemployment rate:
|
NA% |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $241.9 million
expenditures: $216.4 million (2011 est.) |
Budget revenues per capita:
|
423 USD per capita |
Taxes and other revenues:
|
30.2% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
3.2% of GDP (2011 est.) |
Public debt:
|
void |
Industries:
|
fish (tuna), mining, timber |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
78 million kWh (2008 est.) |
Electricity - production per capita:
|
137 kWh per capita |
Electricity - consumption:
|
72.54 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
127 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
2,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
1.28 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
1,485 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
cocoa beans, coconuts, palm kernels, rice, potatoes, vegetables, fruit; timber; cattle, pigs; fish |
Current account balance:
|
-$207.9 million (2009 est.)
-$207.9 million (2009 est.) |
Current account balance - per capita:
|
-363 USD per capita |
Exports:
|
$163.4 million (2009 est.)
$163.4 million (2009 est.) |
Exports per capita:
|
286 USD per capita |
Exports - commodities:
|
timber, fish, copra, palm oil, cocoa |
Exports - partners:
|
China 63.7% (2010) |
Imports:
|
$256 million (2006)
$239.2 million (2009 est.) |
Imports per capita:
|
448 USD per capita |
Imports - commodities:
|
food, plant and equipment, manufactured goods, fuels, chemicals |
Imports - partners:
|
Australia 29%, Singapore 21.7%, China 7.9%, NZ 6.1%, Fiji 4.3%, Papua New Guinea 4.2%, Malaysia 4.1% (2010) |
Reserves of foreign exchange and gold:
|
$265.8 million (31 December 2010 est.)
$146 million (31 December 2009 est.) |
Reserves of foreign exchange and gold - per capita:
|
465 USD per capita |
Debt - external:
|
$166 million (2004) |
Debt - external - per capita:
|
291 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 |
Currency (code):
|
Solomon Islands dollar (SBD) |
Exchange rates:
|
Solomon Islands dollars (SBD) per US dollar -
7.855 (2011 est.)
8.07 |
Fiscal year:
|
calendar year |
|
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