Economy of the Solomon Islands

Mother Earth Travel > Country Index > Solomon Islands > Map Economy History

Economy - overview: The bulk of the population depends on agriculture, fishing, and forestry for at least part of their 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. However, severe ethnic violence, the closing of key business enterprises, and an empty government treasury have led to a continuing economic downslide. Deliveries of crucial fuel supplies (including those for electrical generation) by tankers have become sporadic due to the government's inability to pay and attacks against ships. Telecommunications are threatened by the lack of technical and maintenance staff many of whom have left the country.

GDP: purchasing power parity - $900 million (2000 est.)
GDP - real growth rate: 3.5% (1999 est.), 1% (2000 est.)
GDP - per capita: purchasing power parity - $2,000 (2000 est.)
GDP - composition by sector:
agriculture: 50%
industry: 3.5%
services: 46.5% (1995)
Inflation rate (consumer prices): 10% (1999 est.)
Labor force: 26,842
Labor force - by occupation: agriculture NA%, industry NA%, services NA%
Budget:
revenues: $147 million
expenditures: $168 million (1997 est.)
Industries: fish (tuna), mining, timber
Electricity - production: 30 million kWh (1998)
Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)
Electricity - consumption: 28 million kWh (1998)
Agriculture - products: cocoa, beans, coconuts, palm kernels, rice, potatoes, vegetables, fruit; cattle, pigs; timber; fish
Exports: $142 million (f.o.b., 1998 est.)
Exports - commodities: timber, fish, palm oil, cocoa, copra
Exports - partners: Japan 50%, Spain 16%, United Kingdom, Thailand 5% (1996)
Imports: $160 million (c.i.f., 1998 est.)
Imports - commodities: plant and equipment, manufactured goods, food and live animals, fuel
Imports - partners: Australia 42%, Japan 10%, Singapore 9%, New Zealand  8%, United States 5% (1996)
Debt - external: $135 million (1997)
Economic aid - recipient: $46.4 million (1995)
Currency: 1 Solomon Islands dollar (SI$) = 100 cents

SOURCE: The World Factbook

Mother Earth Travel > Country Index > Solomon Islands > Map Economy History