Solomon Islands's GDP changed from approximately $183M in 1980 to $1B 707M in 2024, showing an overall 832.8% sharply increased during the period.
The lowest GDP was recorded in 1986 at $148M, and the highest in 2024 at $1B 707M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.2%.
For comparison, the average annual growth rate of Papua New Guinea was 4.8%, and that of Vanuatu was 5.5%.
Solomon Islands GDP from 1980 to 2024
The total market value of goods and services produced annually in Solomon Islands.
Overview of Solomon Islands's GDP (1980–2024)
The Gross Domestic Product (GDP) of Solomon Islands recorded a 832.8% sharply increased from 1980 to 2024.
The average GDP during this period was $703M 22K, and the median was $477M.
GDP fluctuated within a range of $1B 559M, with a standard deviation of $535M 718K.
The average annual change was $37M 939K.
Highest and Lowest GDP Records
- Lowest GDP: 1986, $148M
- Highest GDP: 2024, $1B 707M
- Most Recent GDP: 2024, $1B 707M
Notable Annual GDP Changes
- 2011: Significant increase in GDP
- 2020: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Solomon Islands's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $1B 619M → $1B 536M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $620M → $736M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $420M → $410M
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $527M → $458M
- Outcome: sharply declined
Key Economic Indicators of Solomon Islands (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | -2.663 % | $ 183M | $ 223M | $ 793.11 | $ 967.06 | 7.12 % | 231,000 people | -3.109 % | 0 % |
1981 | -1.797 % | $ 194M | $ 240M | $ 812.63 | $ 1,005.21 | −0.32 % | 238,000 people | -10.862 % | 0 % |
1982 | -1.67 % | $ 193M | $ 250M | $ 782.72 | $ 1,015.32 | 8.86 % | 246,000 people | -2.144 % | 0 % |
1983 | 3.891 % | $ 181M | $ 270M | $ 711.88 | $ 1,061.18 | 6.95 % | 255,000 people | -3.572 % | 0 % |
1984 | 0.17 % | $ 182M | $ 280M | $ 691.19 | $ 1,067.29 | 11.11 % | 263,000 people | 0.23 % | 0 % |
1985 | -3.132 % | $ 166M | $ 280M | $ 611.27 | $ 1,034.66 | −7.17 % | 271,000 people | -17.229 % | 0 % |
1986 | -0.201 % | $ 148M | $ 285M | $ 529.42 | $ 1,022.97 | 29.14 % | 279,000 people | 5.656 % | 0 % |
1987 | 8.421 % | $ 155M | $ 317M | $ 540.76 | $ 1,104.76 | 36.14 % | 287,000 people | 0.132 % | 0 % |
1988 | 1.25 % | $ 176M | $ 332M | $ 598.34 | $ 1,126.20 | 15.22 % | 295,000 people | -11.964 % | 0 % |
1989 | 4.264 % | $ 173M | $ 360M | $ 570.06 | $ 1,186.89 | 20.32 % | 303,000 people | -15.213 % | 0 % |
1990 | 2.2 % | $ 215M | $ 382M | $ 689 | $ 1,223.71 | 12.44 % | 312,000 people | -12.182 % | 0 % |
1991 | 6 % | $ 228M | $ 418M | $ 709.33 | $ 1,303.75 | 18.13 % | 321,000 people | -15.993 % | 0 % |
1992 | 12.7 % | $ 269M | $ 482M | $ 815.25 | $ 1,460.81 | 28.16 % | 330,000 people | -2.712 % | 0 % |
1993 | 4 % | $ 301M | $ 513M | $ 885.85 | $ 1,511.74 | 28.04 % | 340,000 people | -2.444 % | 0 % |
1994 | 8.1 % | $ 403M | $ 567M | $ 1,153.36 | $ 1,622.39 | 22.42 % | 349,000 people | 0.317 % | 0 % |
1995 | 10.089 % | $ 469M | $ 637M | $ 1,306.64 | $ 1,772.74 | −18.08 % | 359,000 people | -18.078 % | 0 % |
1996 | 1.61 % | $ 511M | $ 659M | $ 1,381.77 | $ 1,783.42 | −6.78 % | 370,000 people | -6.782 % | 0 % |
1997 | -0.914 % | $ 527M | $ 664M | $ 1,385.68 | $ 1,748.01 | −3.94 % | 380,000 people | -3.94 % | 4.268 % |
1998 | 1.292 % | $ 458M | $ 680M | $ 1,171.17 | $ 1,741.44 | −1.22 % | 391,000 people | -1.218 % | 5.196 % |
1999 | -0.486 % | $ 488M | $ 687M | $ 1,215.22 | $ 1,709.84 | 2.83 % | 402,000 people | 2.832 % | 2.222 % |