Author(s) View the complete data related to Fiji and Solomon Islands. Its per capita GDP of $474 ranks Solomon Islands as a lesser developed nation, and more than 75% of its labor force is engaged in subsistence farming and fishing. Graph and download economic data for Constant GDP per capita for the Solomon Islands (NYGDPPCAPKDSLB) from 1980 to 2020 about Solomon Islands, per capita, real, and GDP. Albania. PDF Solomon ISlandS $2,100 (2016 est.) DOCX Solomon Islands Market Insights 2021 Argentina. Projections by IMF. Algeria. PPP takes into account the relative cost of living, rather than using only exchange rates . Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. Economy Profile of Solomon Islands . Solomon Islands. GDP (PPP) year to date. All countries for which GDPPC is available are listed below: Afghanistan. Gross national income per capita 2019, Atlas method and PPP Purchasing Atlas power parity methodology (international Ranking Economy (US dollars) Ranking Economy dollars) 1 Bermuda 117,730 1 Macao SAR, China 123,380 l 2 Switzerland 85,500 2 Singapore 92,270 Over 75% of its labour force is engaged in subsistence farming and fishing. Gross domestic product, or GDP for short, is a measurement that describes the value of a geographic location's total goods and services, and how it relates to the population of the region. In fact: 29% of people spend over 40% of their income on housing costs. Poor per capita income growth 1 On average, income per person (as reflected in GDP per capita) is estimated to have barely increased (0.7 per cent) between 1980 and 1995 (ADB 1998), despite the rapid growth in the exploitation of Solomon Islands' relatively large natural forest resources. 2005 prices) 2010: 10.6 : GDP growth rate (annual %, const. Solomon Islands Business Conditions Snapshot • Solomon Islands' population is small (approximately 720,000) and spread across more than 300 islands. $2,500 note: data are in . The World Development Indicators (WDI) publication is the World Bank's premier annual compilation of data about development. Same region. Although it is expressed as a dollar amount, GDP per capita is not a measure of average or median personal income . The statistic shows gross domestic product (GDP) in Solomon Islands from 1986 to 2019, with projections up until 2026. Global Metrics. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. source: World Bank 10Y 25Y 50Y MAX Chart Compare Export API The Gross Domestic Product (GDP) in Solomon Islands was worth 1.55 billion US dollars in 2020, according to official data from the World Bank. The Gross Domestic Product (GDP) per capita increased from $275 in 1980 to $6,666 in 2013. Over the past 51 years, the value for this indicator has fluctuated between $2,137.69 in 2018 and $173.44 in 1967. (2016) Absolute number of deaths from ambient particulate air pollution. $2 201. Definition: GDP per capita is gross domestic product divided by midyear population. Online data. The National Analysis Report (Volume I) is presented at the country . Rank of Solomon Islands is from poorest is50th and from richest is 156 with national average per capita income using atlas method is 600 as per 2003. and gdp nominal per capita as per IMF in 2007, WB in 2007 and CIA in2008 is. It is calculated by dividing the total income of a specific region from the entire population. $2,100 (2015 est.) In 2020, GDP per capita for Solomon Islands was 2,392 US dollars. The Solomon Islands's human development per- . GDP today. The Solomon Islands is a country made up of hundreds of islands in the Coral Sea just east of Papua New Guinea and northeast of Australia. GDP per capita of Solomon Islands in nominal and ppp terms. Box 1: Population growth and GDP per capita in the PICs: 1970 to 2004. The Solomon Islands' economic freedom score is 56.5, making its economy the 122nd freest in the 2021 Index. The left figure shows the estimated response of GDP growth to temperature across all countries in the world (black line). This is a list of countries of the world sorted by their gross domestic product (GDP) per capita. Solomon Islands has a total land area that is one and a half times that of Fiji, and thus has a population density that is much . Solomon Islands. The three panels above demonstrate how these three sources of information are combined to produce the black line in the figure at top. GDP is the total value of all goods and services produced in a country in a year. GDP - per capita (PPP) compares GDP on a purchasing power parity basis divided by population as of 1 July for the same year. Fish catch, Change in fish catch from previous year, Energy intensity (kg oil eq.) Many of leading GDP-per-capita (nominal) jurisdictions are tax havens whose economic data is artificially inflated by tax-driven corporate accounting entries. Fiji and Indonesia, per capita GDP is 65 per cent that of Papua New Guinea, while aid receipts on a per capita basis as of 2001 were 3.5 times that of Papua New Guinea and considerably higher than Fiji and Indonesia. The highest mountain, Makarakomburu (2 293 m), is located on Guadalcanal Island, which also hosts the capital city, Honiara. Current Solomon Islands GDP Per Capita is 2,005.48 USD. Solomon Islands - Basic Facts and Profile Information. Per capita national income or average income measures per capita average income in a specific region for a specific year. $2,100 (2016 est.) Inflation was 0.10, as of 2016. It is considered to be a very important indicator of the economic strength of a country and a positive change is an indicator of economic growth. Angola. For instance, the Irish GDP data above is subject to material distortion by the tax planning activities of foreign multinationals in Ireland. GDP per Capita in the Solomon Islands (with a population of 636,039 people) was $1,462 in 2017, an increase of $8 from $1,454 in 2016; this represents a change of 0.5% in GDP per capita. 2005 prices) 2005: 12.9 : GDP per capita (current US$) 2014: 1927.2 . Solomon Islands GDP Per Capita chart, historic, and current data. Fiji's Land per Capita equals to 0.02 Square kilometer per capita with a global rank of 74 compared to Solomon Islands's Land per Capita which equals to 0.05 Square kilometer per capita with a global rank of 41. Solomon ISlandS Factsheet 3 201 KEY FaCTS KEY FaCTS • Merchandise exports as a percentage of GDP in Solomon Islands increased from 26 to 39 per cent between 2005- 2007 and 2015-2017 while merchandise imports fell from 46 to 43 per cent of GDP for the same periods. GNI per capita, Atlas method, current US$, 1992-2014 0 500 1000 1500 2000 2500 3000 3500 4000 GDP per capita is a measurement used to determine economic growth and potential increases in productivity and is calculated by taking the GDP and dividing it by the total population in the country. This growth rate, which averaged 7 percent between 2002 and 2013, is mainly driven by tourism and non-tradable tourism related activities (includes construction, transport and communications). (2016) per $1,000 (PPP) GDP, GDP growth rate from previous year, and GDP per capita at current prices data are retrieved from the UNdata portal. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy. 19-12-2021 10:57:05. The GDP per Capita, in Solomon Islands, when adjusted by Purchasing Power Parity is equivalent to 14 percent of the world's average. Solomon Islands compared to other Countries The GDP per Capita (PPP) of Solomon Islands is similar to that of India, Uzbekistan, Moldova, Tuvalu, Ghana, Pakistan, Lao PDR, Papua New Guinea, Nigeria, Djibouti with a respective GDP per Capita (PPP) of 4,000, 3,800, 3,800, 3,500, 3,500, 3,100, 3,100 . Current Solomon Islands GDP Per Capita is 2,005.48 USD. Andorra. About 74 per cent of the population live s in rural areas, creating challenges for infrastructure and service delivery. Line Bar Map. Absolute annual change in primary energy consumption. GDP1.40 [PPP 2011$ billions] GDP per capita2149.83 [$] Population0.65 [millions] Urbanization24.67 [%] . Albania. The first survey was conducted in 1992 and was limited in scope, followed by the second HIES undertaken in 2005-2006. This group of islands east of Papua New Guinea in the Pacific Ocean came under British rule in 1893 and received independence in 1978. Andorra. $1 554 670 318. Useful links. Looking at the above graph of "Palestinian Territory, Occupied's GDP per capita", we can see that the data for 2018, the latest year available, is the highest. Solomon Islands - GDP per capita (current US$) The latest value for GDP per capita (current US$) in Solomon Islands was $2,137.69 as of 2018. . Fluctuations in the annual GDP growth . Value & Rank The GDP per Capita (PPP) of Solomon Islands is 3,400 ($) with a global rank of 163. Argentina. RegionAsia-Pacific. Population growth rates in the Pacific vary considerably, from -2.2 per cent in Niue (due to substantial emigration to New Zealand) to a very high 2.8 per cent in the Solomon Islands (see Table 1). Estimates by world bank since 1961. Antigua and Barbuda. Solomon Islands consists of six major islands and over 900 smaller islands to the east of Papua New Guinea and northwest of Vanuatu. Solomon Islands gdp per capita for 2020 was $2,258, a 3.66% decline from 2019. Its overall score has increased by 3.6 points, primarily because of improvements in . Basic facts and profile information about Solomon Islands: commonly used name, full official name, flag, language, capital city, time zones, population, land area, population density, GDP, DGP per capita, ISO2/ISO3 codes, Internet domain name, etc. . Solomon Islands GDP (Nominal, $USD) 2003-2017 GDP change (%) Gross Domestic Product (GDP) of the Solomon Islands Sources: In addition,it is 307.845056115 more than the previous year, 2017, which means " GDP per capita" is going up. Gross Domestic Product (GDP) per capita shows a country's GDP divided by its total population. Its total investment rate was 19.91% of GDP in 2016. Solomon Islands Doing Business 2020 Solomon Islands Page 1. Solomon Islands economic growth for 2019 was $1.57B, a 0.28% decline from 2018. note: data are in . GDP per capita year to date (annual $2,325) $2 012 784. GDP Growth and GDP per capita Growth of Solomon Islands. GDP per capita. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. It is used to describe the standard of living of a . World Bank national accounts data, and OECD National Accounts data files. In 2020, the estimated GDP per capita in the Solomon Islands amounted to around 2,281.35 U.S. dollars. 2020. Due to unavailable data the following indicators . Data are in current U.S. dollars. GDP - per capita: $2,200 (2017 est.) 2 295 USD. Solomon Islands: 2,455 136 . Below are all indicators in our database for which this country has a value. France's GDP per capita is $42,877.56, the 19th highest in the world, and GDP (PPP) is $2.96 trillion. License : CC BY-4.0. About 6,000 years ago, Austronesian settlers came to Solomon Islands and the two groups mixed extensively. Growth vs. The complete WDI database includes more than 1,200 indicators. As the graph below shows, over the past 28 years this indicator reached a maximum value of 8,992 in 1995 and a minimum value of 5,771 in 2002. It has the lowest GNI per capita of any country outside . Overall . Estimates by world bank since 1961. Comparing the per capita income of each country around the world, the gap between Asia, Africa, Latin America, North America, Europe, and the Oceanian Empire is evident. GDP - per capita (PPP): $2,100 (2017 est.) English. Population: 552,267 (WB 2011) Currency: Solomon Islands dollar. The 2012/13 HIES is the third nation-wide survey conducted by the Solomon Islands National Statistics Office (SINSO) of the Ministry of Finance and Treasury. GDP (constant 2000 US$): 670,924,408 (WB 2011) GDP per capita: $ 2581 at PPP (WB 2011) GDP Growth: 9% (WB 2011) Antigua and Barbuda. The table below lists countries in the world ranked by GDP at Purchasing Power Parity (PPP) per capita, along with the Nominal GDP per capita. GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year. Solomon IslandsGdp and National debt. GDP per capita of Solomon Islands increased from 967 US dollars in 2001 to 2,392 US dollars in 2020 growing at an average annual rate of 5.25%. Solomon Islands Snapshot Capital: Honiara . GDP per capita:US$2,246.7 (2018) Political system: constitutional monarchy. (2015) Adolescent birth rate in women aged 10-19 years. Trade in services, on the other hand, increased for both exports and Fiji and Indonesia, per capita GDP is 65 per cent that of Papua New Guinea, while aid receipts on a per capita basis as of 2001 were 3.5 times that of Papua New Guinea and considerably higher than Fiji and Indonesia. Solomon Islands GDP Per Capita table by year, historic, and current data. $3. Albania. Per capita GDP growth can be broken down into a part which is due to growth in labour productivity (GDP per hour worked) and a part which is due to increased labour utilisation (hours worked per capita). None. 1978. According to World Bank , France has unfortunately experienced high unemployment rates in recent years: a 10% unemployment rate was recorded for 2014, 2015, and 2016 and it declined to 9.681% in 2017. Angola. Solomon Islands dollar (SBD) Languages. Here's a look at the 10 countries with the highest GDP per capita in 2021: However, not all citizens in Luxembourg are extremely wealthy. GDP per capita. Solomon Islands economic growth for 2020 was $1.55B, a 1.21% decline from 2019. Angola. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. GDP Gross domestic product . Aggregates. Despite significant inter-island trade, no attempts were made to unite the islands into a single political entity. In 1568 the Spanish explorer Álvaro de Mendaña de Neira observed gold on the Solomon Islands, and, thinking it the source of King Solomon's fabled wealth, he left the islands with their given name. will reduce the cost of power across Solomon Islands by up to 30 per cent. Includes The Solomon Islands real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. What is GDP per capita? In fact, the richest country today (in terms of nominal GDP per capita), Luxembourg, is over 471x more wealthy than the poorest, Burundi. Projections by IMF. Algeria. in the last 5 years. • Solomon Islands' economy is heavily weighted For example, Solomon Islands's Exports rank is higher than 9.57% of the countries in the dataset. Temperature, Growth Rate, and GDP per Capita for . Labour productivity is a key driver of economic growth and changes in living standards, measured notably by growth in GDP per capita. Next update in UNdata: 2022/01/05. The description is composed by our digital data assistant. GDP: Gross domestic product (million current US$) 2010: 720 : GDP: Gross domestic product (million current US$) 2005: 429 : GDP growth rate (annual %, const. 105.86. . Currency. The value for GDP per capita (constant LCU) in Solomon Islands was 8,058 as of 2018. Settlers from Papua arrived on Solomon Islands around 30,000 years ago. Solomon Islands's annual GDP growth was 2.08% per year in 2016. Economic Indicators for Solomon Islands including actual values, historical data, and latest data updates for the Solomon Islands economy. note: data are in 2017 dollars country comparison to the world (CIA rank, may be based on non-current data): 207 [see also: GDP - per capita country ranks] Gross national saving: GDP per capita (current US$) - Solomon Islands. GDP/Per Capita: $118.22 million/$9,397 Land Area/EEZ Area: 8 mi 2/119,114 mi2 NORTHERN MARIANA ISLANDS Capital: Saipan Population: 57,000 Political Regime: A commonwealth in political union with and under the US Official Languages: English; Chamorro Life Expectancy: 76.1 years GDP/Per Capita: $1.32 billion (2018)/ $23,259 (2018) Algeria. Antigua and Barbuda. All countries for which GDPPCP is available are listed below: Afghanistan. Welkam to the Solomon Islands. Solomon Islands. figure 1(GDP trend) and 2 (GDP per capita trend) show: Figure 1: Solomon Islands GDP Trend 20002011- Source: World Bank, Databank. GDP per Capita. Many of the islands are notable for their steep mountains. The World War II Battle of Guadalcanal took place in the . Until 1998, when world prices for tropical timber fell steeply, timber was Solomon Islands main export product, and, in recent years, Solomon Islands forests were dangerously . GDP per capita, PPP (current international $) - Solomon Islands from The World Bank: Data Over the past 51 years, the value for this indicator has fluctuated between $2,137.69 in 2018 and $173.44 in 1967. The 2012/13 HIES is the third nation-wide survey conducted by the Solomon Islands National Statistics Office (SINSO) of the Ministry of Finance and Treasury. Solomon Islands - GDP per capita (current US$) The latest value for GDP per capita (current US$) in Solomon Islands was $2,137.69 as of 2018. 2005 prices) 2014: 1.5 : GDP growth rate (annual %, const. Solomon Islands's current Ease of Doing Business Rank is 19th in the world. Solomon Islands gdp per capita for 2019 was $2,344, a 2.8% decline from 2018. The dotted black and red . Despite this year's pickup, the level of global GDP in 2021 is expected to be 3.2% below pre-pandemic projections, and per capita GDP among many emerging market and developing economies is anticipated to remain below pre-COVID-19 peaks for an extended period. Solomon Islands has a total land area that is one and a half times that of Fiji, and thus has a population density that is much . Health spending growth in many Asia-Pacific countries has exceeded economic growth over the past seven years, resulting in an increasing share of the economy devoted to health. The Gross Domestic Product per capita in Solomon Islands was last recorded at 2482.87 US dollars in 2020, when adjusted by purchasing power parity (PPP). Brunei Darussalam and Solomon Islands reported a decrease in per capita health spending in real terms between 2010 and 2017. Graph and download economic data for Gross Domestic Product Per Capita for Solomon Islands (PCAGDPSBA646NWDB) from 1967 to 2020 about Solomon Islands, per capita, and GDP. . 109.46. Land per Capita - Comparison between Fiji and Solomon Islands. Real Gross Domestic Product 2015: 118.59: 115.21: Index 2000=100: Annual: Government Consumption . View the change in real GDP per Capita in Solomon Is. Rank of solomon Islands. Pacific Community Membership. Selected Agregates: Current Prices: 2007: 2008: 2009: 2010: 2011: 2012: 2013: 2014/p: GDP in SI$ million: 4,070.7: 4,608.5: 5,011.7: 5,595.2: 6,296.6: 6,710.8: 7,369 . Per capita figures expressed per 1 population. GDP Year. 10 times the income per capita, engages in general industrial or commercial activities and employs between 10 and 50 people one month after the commencement of operations, all of whom are domestic nationals. A per capita GDP of $3,200 ranks Solomon Islands as a lesser developed nation. All countries for which GDPPC is available are listed below: Afghanistan. Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The Solomon Islands economic outlook, debt to GDP ratio . However, using per capita GDP still poses a problem: the very same income can buy very little in some countries and go much further in others where basic necessities—food, clothing, shelter, or healthcare—cost far less.