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%.
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.
Solomon Islands GDP from 1980 to 2024
The total market value of goods and services produced annually in Solomon Islands.
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 | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 183M | $ 793.11 | $ 967.06 | $ 223M | -2.663 % | -3.109 % | 7.12 % | 0 % | 231,000 people |
1981 | $ 194M | $ 812.63 | $ 1,005.21 | $ 240M | -1.797 % | -10.862 % | −0.32 % | 0 % | 238,000 people |
1982 | $ 193M | $ 782.72 | $ 1,015.32 | $ 250M | -1.67 % | -2.144 % | 8.86 % | 0 % | 246,000 people |
1983 | $ 181M | $ 711.88 | $ 1,061.18 | $ 270M | 3.891 % | -3.572 % | 6.95 % | 0 % | 255,000 people |
1984 | $ 182M | $ 691.19 | $ 1,067.29 | $ 280M | 0.17 % | 0.23 % | 11.11 % | 0 % | 263,000 people |
1985 | $ 166M | $ 611.27 | $ 1,034.66 | $ 280M | -3.132 % | -17.229 % | −7.17 % | 0 % | 271,000 people |
1986 | $ 148M | $ 529.42 | $ 1,022.97 | $ 285M | -0.201 % | 5.656 % | 29.14 % | 0 % | 279,000 people |
1987 | $ 155M | $ 540.76 | $ 1,104.76 | $ 317M | 8.421 % | 0.132 % | 36.14 % | 0 % | 287,000 people |
1988 | $ 176M | $ 598.34 | $ 1,126.20 | $ 332M | 1.25 % | -11.964 % | 15.22 % | 0 % | 295,000 people |
1989 | $ 173M | $ 570.06 | $ 1,186.89 | $ 360M | 4.264 % | -15.213 % | 20.32 % | 0 % | 303,000 people |
1990 | $ 215M | $ 689 | $ 1,223.71 | $ 382M | 2.2 % | -12.182 % | 12.44 % | 0 % | 312,000 people |
1991 | $ 228M | $ 709.33 | $ 1,303.75 | $ 418M | 6 % | -15.993 % | 18.13 % | 0 % | 321,000 people |
1992 | $ 269M | $ 815.25 | $ 1,460.81 | $ 482M | 12.7 % | -2.712 % | 28.16 % | 0 % | 330,000 people |
1993 | $ 301M | $ 885.85 | $ 1,511.74 | $ 513M | 4 % | -2.444 % | 28.04 % | 0 % | 340,000 people |
1994 | $ 403M | $ 1,153.36 | $ 1,622.39 | $ 567M | 8.1 % | 0.317 % | 22.42 % | 0 % | 349,000 people |
1995 | $ 469M | $ 1,306.64 | $ 1,772.74 | $ 637M | 10.089 % | -18.078 % | −18.08 % | 0 % | 359,000 people |
1996 | $ 511M | $ 1,381.77 | $ 1,783.42 | $ 659M | 1.61 % | -6.782 % | −6.78 % | 0 % | 370,000 people |
1997 | $ 527M | $ 1,385.68 | $ 1,748.01 | $ 664M | -0.914 % | -3.94 % | −3.94 % | 4.268 % | 380,000 people |
1998 | $ 458M | $ 1,171.17 | $ 1,741.44 | $ 680M | 1.292 % | -1.218 % | −1.22 % | 5.196 % | 391,000 people |
1999 | $ 488M | $ 1,215.22 | $ 1,709.84 | $ 687M | -0.486 % | 2.832 % | 2.83 % | 2.222 % | 402,000 people |