Solomon Islands
Description of Solomon Islands
The Solomon Islands, an archipelago nation in the South Pacific, is a country of immense cultural diversity and natural beauty. With a population spread across its various islands, this nation faces unique challenges and opportunities in its quest for economic development and political stability. As an analyst specializing in geopolitical and macroeconomic trends, I offer insights into how macroeconomic statistics and global dynamics may impact the Solomon Islands, shaping its future trajectory in the region and on the world stage.
Population And Age Structure
Population, total: The population of Solomon Islands is 691,191, which is significantly lower than the average population of 40,097,746. The country ranks 161 out of 194 countries in terms of total population.
Population ages 0-14 (% of total population): Solomon Islands has 39.57% of its population in the age group 0-14, which is higher than the average of 27.34%. The country ranks 37 out of 194 countries in this age group distribution.
Population ages 0-14, total: The total population of individuals aged 0-14 in Solomon Islands is 273,518, much lower than the average of 10,327,379. The country ranks 155 out of 194 countries in this category.
Population ages 15-64 (% of total population): Solomon Islands has 56.97% of its population in the age group 15-64, which is lower than the average of 63.44%. The country ranks 160 out of 194 countries in this age group distribution.
Population ages 15-64, total: The total population of individuals aged 15-64 in Solomon Islands is 393,738, significantly lower than the average of 26,003,407. The country ranks 165 out of 194 countries in this category.
Population ages 65 and above (% of total population): The population ages 65 and above make up 3.46% of Solomon Islands' population, much lower than the average of 9.22%. The country ranks 146 out of 194 countries in this age group distribution.
Population ages 65 and above, total: Solomon Islands has 23,935 individuals aged 65 and above, which is notably lower than the average of 3,766,959. The country ranks 170 out of 194 countries in this category.
Summary
Solomon Islands has a relatively small total population compared to the global average, with a higher percentage of individuals in the younger age groups and a lower percentage in the older age group. This demographic profile suggests a younger population that may require more investments in education, healthcare, and social services, while also highlighting potential future challenges related to aging population and workforce sustainability.
Population Miscellaneous
Analysis of key statistics for Solomon Islands:
1. Rural population in Solomon Islands is 520,674, significantly below the average rural population of 18,044,041. Solomon Islands ranks 148 out of 190 countries in this category.
2. The percentage of rural population in Solomon Islands is 75.33%, which is higher than the average of 41.16%. The country ranks 19 out of 190 countries in this aspect.
3. Urban population in Solomon Islands stands at 170,517, much lower than the average urban population of 22,425,747. Solomon Islands ranks 171 out of 194 countries in urban population.
4. The percentage of urban population in Solomon Islands is 24.67%, below the average of 59.69%. The country ranks 176 out of 194 countries in this metric.
5. Solomon Islands has an age dependency ratio of 75.55%, higher than the average of 59.22%. The country ranks 35 out of 194 countries in this measure.
6. The crude birth rate in Solomon Islands is 30.22 per 1,000 people, higher than the average of 19.38 per 1,000 people. Solomon Islands ranks 36 out of 192 countries in this statistic.
7. The crude death rate in Solomon Islands is 5.08 per 1,000 people, below the average of 8.21 per 1,000 people. The country ranks 180 out of 192 countries in this category.
8. The total fertility rate in Solomon Islands is 4.04 births per woman, higher than the average of 2.60 births per woman. Solomon Islands ranks 33 out of 190 countries in fertility rate.
Summary
Solomon Islands has a predominantly rural population with a high percentage of 75.33%, above the global average. The country also exhibits a higher age dependency ratio and fertility rate compared to the world average. These statistics indicate a need for specific social and economic policies tailored to address the challenges of an aging population and high birth rates in Solomon Islands, ensuring sustainable development and resource allocation for future generations.
Natural Resources
1. Forest Area (sq. km): Solomon Islands has 25,229.7 sq. km of forest area, which is below the average of 211,606.11 sq. km. The country ranks 97 out of 191 countries in this attribute.
2. Land Area (sq. km): With a land area of 27,990 sq. km, Solomon Islands falls below the average of 665,166.51 sq. km. The country is ranked 140 out of 194 countries in this category.
3. Surface Area (sq. km): Solomon Islands has a surface area of 28,900 sq. km, which is below the average of 689,779.56 sq. km. The country holds the 139th rank out of 194 countries in this attribute.
4. Arable Land (hectares): The country possesses 23,000 hectares of arable land, significantly lower than the average of 7,329,543.16 hectares. Solomon Islands is ranked 161 out of 190 countries in this aspect.
5. Land Under Cereal Production (hectares): Solomon Islands utilizes 1,452 hectares of land for cereal production, much lower than the average of 4,206,011.63 hectares. The country ranks 161st out of 174 countries included in the data.
6. Average Precipitation in Depth (mm per year): The country receives an average precipitation depth of 3,028 mm per year, well above the average of 1,157.83 mm. Solomon Islands ranks 3rd out of 178 countries in this attribute.
7. Renewable Internal Freshwater Resources, Total (billion cubic meters): Solomon Islands has 44.7 billion cubic meters of renewable internal freshwater resources, below the average of 240.41 billion cubic meters. The country holds the 82nd rank out of 178 countries in this category.
Summary
The analysis of key macroeconomic indicators for Solomon Islands reveals a country with a relatively small forest area, land area, arable land, and land under cereal production compared to global averages. However, Solomon Islands receives abundant precipitation, ranking remarkably high in average precipitation depth. The country also possesses a lower amount of renewable internal freshwater resources compared to the global average.
These indicators are crucial as they provide insights into Solomon Islands' environmental resources, agricultural potential, and water availability. Understanding these metrics is essential for sustainable land use planning, agricultural development, and water resource management to ensure the country's long-term economic and environmental stability.
Resource Rents
For Total natural resources rents (% of GDP), the focus country, Solomon Islands, has a value of 19.19%, exceeding the attribute average of 4.63%. This places Solomon Islands at rank 8 out of 175 countries in the dataset.
On the other hand, for Forest rents (% of GDP), Solomon Islands also stands out with a value of 19.19%, significantly surpassing the attribute average of 1.53%. This places Solomon Islands at the top rank out of 174 countries in the dataset.
Summary
Solomon Islands demonstrates a notable reliance on natural resources, as evidenced by its high values for both Total natural resources rents (% of GDP) and Forest rents (% of GDP). These values surpass the attribute averages by a significant margin, highlighting the importance of natural resource sectors to the country's economy. The ranking positions of Solomon Islands, especially being among the top countries for Forest rents, indicate the significant contribution of these resources to the country's GDP and overall economic landscape.
Commodities
- Cereal production in Solomon Islands is significantly below the average, with a value of 2743.23 metric tons compared to an average of 17,249,945.93 metric tons, ranking 160th out of 174 countries.
- Aquaculture production in Solomon Islands stands at 5504 metric tons, below the average of 679,642.92 metric tons, ranking 90th out of 180 countries.
- Capture fisheries production in Solomon Islands is also below average at 41067.67 metric tons, compared to the average of 467,453.06 metric tons, ranking 103rd out of 190 countries.
- Total fisheries production in Solomon Islands is below average with 46571.67 metric tons, while the average is 1,153,914.85 metric tons, placing the country at the 105th position out of 182 countries.
- Fertilizer consumption in Solomon Islands is below average at 48.17 kilograms per hectare of arable land, compared to the average of 159.04 kilograms per hectare. The country ranks 123rd out of 187 countries in this aspect.
Summary
The macroeconomic analysis of key indicators in Solomon Islands reveals that the country lags behind global averages in various agricultural and fisheries production metrics, such as cereal production, aquaculture production, and total fisheries production. Additionally, the below-average fertilizer consumption per hectare of arable land indicates potential inefficiencies in agricultural practices, impacting overall productivity and food security. Addressing these shortcomings is crucial for Solomon Islands to enhance agricultural output, improve food sustainability, and compete effectively in global markets.
Intellectual Property
When it comes to scientific and technical journal articles, the Solomon Islands have a value of 15.8, significantly below the attribute average of 15103.76. This places the country at a rank of 168 out of 192 countries included in the data.
For charges for the use of intellectual property (payments), the Solomon Islands reported a value of 2,890,610.65 USD, much lower than the attribute average of 3,218,934,94 USD. This places the country at a rank of 118 out of 143 countries.
On the other hand, in terms of charges for the use of intellectual property (receipts), the Solomon Islands recorded a value of 395,321.92 USD, also below the attribute average of 3,191,687,117.58 USD. The country ranks 99 out of 122 countries in this aspect.
Summary
The Solomon Islands lag behind global averages in scientific and technical journal articles, payments for intellectual property use, and receipts for intellectual property use. This low performance indicates a potential lack of innovation, limited technological development, and lower integration into the global knowledge economy, which could hinder the country's long-term economic growth and competitiveness on the international stage.
Broad Economy Attributes
Analysis of key macroeconomic statistics for Solomon Islands:
1. GDP (current US$): Solomon Islands' GDP value of 1,536,145,814.17 is significantly below the average GDP of 442,870,224,838.68. The country ranks 172 out of 189 countries in this attribute data.
2. GDP, PPP (current international $): With a GDP value of 1,802,267,971.40, Solomon Islands falls below the average GDP of 734,141,122,350.78. It is ranked 169 out of 181 countries.
3. GDP per capita (current US$): Solomon Islands' GDP per capita of 2,222.46 is notably lower than the average GDP per capita of 15,462.11. The country ranks 140 out of 190 countries in this metric.
4. GDP per capita, PPP (current international $): The GDP per capita of 2,607.48 for Solomon Islands is below the average of 21,251.89. It ranks 158 out of 181 countries.
5. GNI (current US$): Solomon Islands' GNI of 1,572,050,827.10 is well below the average GNI of 452,040,815,370.70. The country is ranked 168 out of 185 countries.
6. GNI, PPP (current international $): With a GNI of 1,844,393,174.76, Solomon Islands is below the average GNI of 730,698,223,823.47. It ranks 167 out of 181 countries.
7. GNI per capita, PPP (current international $): The GNI per capita for Solomon Islands is 2,670, which is lower than the average of 20,615.75. It ranks 158 out of 181 countries in this metric.
Summary
In summary, Solomon Islands is experiencing below-average performance across key macroeconomic indicators such as GDP, GDP per capita, and GNI. These rankings highlight the country's economic challenges and the need for strategic interventions to boost economic growth and improve the standard of living for its citizens.
These statistics are crucial as they provide a comprehensive overview of Solomon Islands' economic standing compared to global averages. By addressing the gaps identified in these indicators, policymakers can tailor targeted policies and initiatives to address specific areas of weakness and drive sustainable economic development in the country.
Broad Value Added
The Gross value added at basic prices (GVA) in current US dollars for Solomon Islands is $1,504,965,110.12, significantly below the average of $360,070,943,595.12. Solomon Islands ranks 161 out of 176 countries in this attribute data.
Agriculture, forestry, and fishing, value added as a percentage of GDP is 34.12% in Solomon Islands, well above the average of 10.86%. This places Solomon Islands at the 8th rank out of 182 countries reporting this data.
Agriculture, forestry, and fishing, value added in current US dollars for Solomon Islands is $524,130,468.05, notably lower than the average of $19,924,732,828.07. Solomon Islands ranks 140 out of 182 countries in this attribute data.
Services, value added as a percentage of GDP for Solomon Islands is 48.64%, below the average of 56.72%. Solomon Islands ranks 144 out of 183 countries in this attribute data.
Services, value added in current US dollars for Solomon Islands amount to $747,119,376.56, well below the average of $295,837,711,130.69. Solomon Islands ranks 172 out of 183 countries in this attribute data.
Industry (including construction), value added in current US dollars for Solomon Islands is $264,908,144.76, significantly lower than the average of $118,421,095,413.50. Solomon Islands ranks 169 out of 183 countries in this attribute data.
Summary
Solomon Islands displays a significant disparity in key macroeconomic indicators compared to global averages. The country's economy heavily relies on the agriculture, forestry, and fishing sectors, showcasing a relatively high value added as a percentage of GDP. Conversely, the services and industry sectors contribute less to the overall GDP, with values below the global average. These statistics are crucial as they reveal Solomon Islands' economic structure and highlight areas for potential growth and diversification to enhance overall economic stability and development.
Manufacturing Value Added
For Manufacturing, value added (current US$), Solomon Islands has a value of $148,720,148.37. This is significantly below the average value of $76,207,179,589.66. Solomon Islands ranks 149th out of 173 countries in this attribute.
Regarding Manufacturing, value added (% of GDP), Solomon Islands contributes 9.68% to its GDP. This is lower than the average of 11.90%. The country is ranked 106th out of 173 countries in this aspect.
Summary
Solomon Islands has a relatively low Manufacturing value added compared to the global average, ranking 149th out of 173 countries. Additionally, its contribution to GDP through Manufacturing value added is below average, positioning the country at 106th place. These statistics are crucial as they indicate that Solomon Islands may have untapped potential for economic growth and development in its manufacturing sector, highlighting areas for improvement and possible avenues for investment and policy intervention.
Money
1. Inflation, consumer prices (annual %): The inflation rate in Solomon Islands is 2.96%, which is below the average of 8.26%. Solomon Islands ranks 64th out of 165 countries in this attribute data.
2. Inflation, GDP deflator (annual %): Solomon Islands has a negative inflation rate of -1.33%, significantly below the average of 6.90%. The country ranks 160th out of 188 countries for this attribute.
3. Broad money growth (annual %): Solomon Islands' broad money growth stands at 6.61%, lower than the average of 18.03%. The country ranks 114th out of 139 countries included in the data.
4. Broad money (% of GDP): The broad money in Solomon Islands accounts for 42.95% of its GDP, below the average of 71.75%. The country holds the 101st rank out of 139 countries in this attribute.
5. Broad money to total reserves ratio: With a ratio of 0.99, Solomon Islands is below the average of 5.17. The country ranks 123rd out of 126 countries in this attribute data.
Summary
Solomon Islands demonstrates a mixed performance in key macroeconomic indicators. It maintains low inflation rates both in consumer prices and GDP deflator, ranking relatively well internationally. However, the country lags behind in broad money metrics, with lower growth rates, a smaller proportion to GDP, and a low ratio to total reserves. These indicators are crucial as they reflect the stability of prices, economic growth, and financial system efficiency within Solomon Islands, impacting its overall economic health and attractiveness to investors.
Consumption Expenditure
1. Final consumption expenditure (current US$): The focus country, Solomon Islands, has a value of 1,352,324,545.23 which is significantly below the average of 381,630,252,515.38. Solomon Islands is ranked 152 out of 159 countries for this attribute.
2. Final consumption expenditure (% of GDP): Solomon Islands' value of 88.03% is above the average of 82.37%. The country is ranked 55 out of 159 countries in this aspect.
3. General government final consumption expenditure (current US$): With 385,905,347.75, Solomon Islands is far below the average of 93,676,578,238.03 for this attribute. The country holds the 146th rank out of 158 countries.
4. General government final consumption expenditure (% of GDP): Solomon Islands' value of 25.12% is higher than the average of 18.71%. The country ranks 21 out of 158 nations.
5. Household and NPISHs Final consumption expenditure (current US$): At 966,419,197.48, Solomon Islands is notably below the average of 290,127,571,157.69. The country is placed at the 151st position out of 158 countries.
6. Households and NPISHs final consumption expenditure (% of GDP): Solomon Islands' value of 62.91% is slightly below the average of 63.68%. In this aspect, the country holds the 77th rank out of 158 nations.
Summary
The analysis of key macroeconomic indicators reveals that Solomon Islands has below-average final consumption expenditure figures both in absolute terms and as a percentage of GDP. The country also lags behind in general government and household final consumption expenditure metrics. These statistics are crucial as they signify potential challenges in domestic demand, government spending, and overall economic development for Solomon Islands.
Investment
Analysis of Key Foreign Investment Statistics in Solomon Islands:
1. Foreign direct investment, net (BoP, current US$): Solomon Islands' focus country value of -5,653,417.73 is significantly higher than the attribute average of -1,615,230,980.51. The country ranks 43 out of 169 countries in the data set.
2. Foreign direct investment, net inflows (BoP, current US$): With a value of 8,980,046.94, Solomon Islands surpasses the attribute average of 5,749,271,080.15. The country is ranked 145 out of 182 included countries.
3. Foreign direct investment, net inflows (% of GDP): Solomon Islands' value of 0.58% is lower than the attribute average of 2.61%. The country is ranked 130 out of 178 countries.
4. Foreign direct investment, net outflows (BoP, current US$): The country's value of 3,326,629.21 is notably less than the attribute average of 5,707,991,116.07. Solomon Islands ranks 105 out of 156 countries.
5. Foreign direct investment, net outflows (% of GDP): Solomon Islands' value of 0.22% is below the attribute average of 1.00%. The country holds the 79th rank out of 155 countries.
6. Portfolio Investment, net (BoP, current US$): With a value of 1,453,169.45, Solomon Islands falls below the attribute average of 679,559,169.57. The country ranks 78 out of 159 countries in this indicator.
Summary
Solomon Islands' key foreign investment statistics reflect a mixed scenario. While the country attracts higher net inflows of foreign direct investment compared to the global average, it has lower outflows. However, portfolio investment remains relatively low. These indicators are vital as they signify Solomon Islands' attractiveness to foreign investors, its capital movement dynamics, and potential economic growth opportunities.
Debt
• **Total debt service (% of GNI):** Solomon Islands' total debt service as a percentage of GNI is
significantly lower than the average for all countries (5.98%). With a value of 0.57%, Solomon Islands
ranks 113th out of 120 countries in this dataset.
• **Public and publicly guaranteed debt service (% of GNI):** At 0.40%, Solomon Islands' public and
publicly guaranteed debt service as a percentage of GNI is well below the average of 2.84%. The country
ranks 109th out of 120 countries in this category.
• **External debt stocks (% of GNI):** Solomon Islands' external debt stocks as a percentage of GNI stand
at 27.28%, which is considerably lower than the average of 65.42%. The country ranks 100th out of 120
countries in this aspect.
• **Debt service on external debt, total (TDS, current US$):** With a value of $9,020,397.9, Solomon
Islands' debt service on external debt is substantially below the average of $9,811,195,839.23. The
country ranks 119th out of 123 countries.
• **Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$):** Solomon
Islands' debt service on public and publicly guaranteed external debt amounts to $6,303,142.9,
significantly lower than the average of $3,310,612,057.60. The country ranks 119th out of 123 countries in
this metric.
• **External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$):** The external debt
stocks for public and publicly guaranteed debt in Solomon Islands are at $124,014,124.9, far below the
average of $28,695,879,144.98. The country ranks 123rd out of 123 countries included in this analysis.
• **External debt stocks, private nonguaranteed (PNG) (DOD, current US$):** Solomon Islands' external debt
stocks for private nonguaranteed debt amount to $252,790,000, significantly lower than the average of
$33,734,699,285.22. The country ranks 76th out of 91 countries in this category.
• **External debt stocks, total (DOD, current US$):** With external debt stocks totaling $428,927,088.9,
Solomon Islands is well below the average of $73,845,530,111.82. The country ranks 118th out of 123
countries in this aspect.
Summary
Solomon Islands demonstrates prudent financial management with significantly lower total debt service, public debt service, and external debt stocks compared to global averages. Despite ranking lower in debt metrics, the country may benefit from maintaining sustainable debt levels, which can help in achieving financial stability, attracting investments, and fostering economic growth.
Broad Trade Attributes
Trade (% of GDP): Solomon Islands has a trade value of 60.22% of GDP, below the average of 82.34%. It ranks 97 out of 163 countries.
Merchandise trade (% of GDP): The country's value is 55.85%, slightly lower than the average of 60.01%. Solomon Islands ranks 81 out of 186 countries.
Trade in services (% of GDP): Solomon Islands showcases 13.17% of GDP in services trade, notably less than the average of 24.63%. It ranks 96 out of 171 countries.
External balance on goods and services (current US$): The country has a balance of - $66,720,132.06, in stark contrast to the average of $3,405,509,011.13. It ranks 67 out of 163 countries.
External balance on goods and services (% of GDP): With a balance of -4.34% of GDP, Solomon Islands falls short of the average of -5.97%. It ranks 88 out of 163 countries.
Summary
Solomon Islands has a lower trade value, merchandise trade, and trade in services compared to global averages, indicating room for growth in diversifying and expanding its trade relationships. The country also shows a negative external balance on goods and services, highlighting a trade deficit that needs to be addressed. These indicators are important as they reflect Solomon Islands' economic openness, competitiveness, and ability to generate income from international trade, which are crucial for sustainable economic development and stability.
Net Trade
In terms of Current account balance (BoP, current US$), the Solomon Islands has a value of -25,059,550.85. This is significantly below the average of $1,443,864,831.49, placing the country at rank 68 out of 170 countries.
With a Current account balance (% of GDP) of -1.63%, the Solomon Islands is below the average of -2.36%. This ranks the country at 85 out of 170 countries.
The Net trade in goods and services (BoP, current US$) for the Solomon Islands is -127,426,602.63, well below the average of $2,604,730,003.57. This places the country at rank 72 out of 171 countries.
Solomon Islands has a Net primary income (BoP, current US$) value of $35,847,332.03, which is higher than the average of -$903,807,529.74. The country ranks 40 out of 170 countries in this attribute.
For Net secondary income (BoP, current US$), the Solomon Islands records $66,519,719.75, surpassing the average of -$269,227,340.40. The country is ranked 109 out of 170 countries.
The Net trade in goods (BoP, current US$) for the Solomon Islands is -25,312,485.15, below the average of $1,302,831,005.68. The country ranks 68 out of 171 nations in this attribute.
With a Net capital account (BoP, current US$) of $62,325,469.88, the Solomon Islands is below the average of $136,543,824.05, placing it at rank 81 out of 159 countries.
Lastly, the Net financial account (BoP, current US$) for the Solomon Islands stands at $16,570,159.40, which is higher than the average of -$469,840,994.63. The country ranks 71 out of 170 nations in this aspect.
Summary
The Solomon Islands exhibits a mixed performance in key macroeconomic indicators. It has a negative current account balance and net trade in goods and services, but positive values in net primary income, net secondary income, net capital account, and net financial account. These indicators reflect the country's reliance on primary income sources like exports, while also receiving significant secondary income and capital inflows. Understanding these metrics is crucial as they highlight the Solomon Islands' economic position in terms of trade, income generation, and overall financial stability.
Broad Export Attributes
1. Exports of goods, services and primary income (BoP, current US$): The focus country, Solomon Islands, has a value of $485,478,855.81 for this attribute, which is significantly lower than the average of $146,238,908,936.30. Solomon Islands is ranked 156 out of 170 countries in this dataset.
2. Exports of goods and services (BoP, current US$): Solomon Islands' value for this attribute is $428,833,631.08, below the average of $122,938,540,059.78. The country is ranked 156 out of 170 countries.
3. Exports of goods and services (current US$): With a value of $429,176,031.94, Solomon Islands is below the average of $129,596,864,610.19 for this attribute. The country holds the rank of 150 out of 163 countries.
4. Exports of goods and services (% of GDP): Solomon Islands' percentage of exports to GDP is 27.94%, lower than the average of 38.19%. The country ranks 91 out of 163 countries.
5. Goods exports (BoP, current US$): The focus country's value for this attribute is $378,712,318.63, which is notably lower than the average of $93,310,581,697.39. Solomon Islands ranks 151 out of 171 countries.
6. International tourism, receipts (% of total exports): Solomon Islands has a value of 1.63% for this attribute, well below the average of 9.74%. The country is ranked 94 out of 120 countries in this aspect.
Summary
The analysis reveals that Solomon Islands has lower values in key macroeconomic indicators related to exports compared to global averages, ranking notably lower in the dataset. These indicators highlight the country's relatively limited integration into global trade and tourism markets, potentially signaling challenges in diversifying its economy and expanding its international presence. Addressing these shortcomings could be crucial for Solomon Islands to enhance economic growth, attract foreign investment, and improve overall economic stability.
Merchandise Exports
Merchandise exports of Solomon Islands, totaling $379,000,000, are below the attribute average of $89,542,711,229.95. The country ranks 162 out of 187 countries in this category.
Summary
Merchandise exports of Solomon Islands are significantly below the global average, with the country ranking quite low compared to other nations. This suggests that Solomon Islands may have limited global market access or may face challenges in global trade competitiveness. Improving export performance is crucial for the country's economic growth and sustainability, as it can lead to increased revenue, job creation, and overall economic development.
Service Exports
Analysis of key service export attributes for Solomon Islands:
1. Service exports (BoP, current US$): Solomon Islands has a value of $50,121,312.45 for this attribute, which is significantly below the average of $28,917,292,503.82. The country ranks 163 out of 171 countries in this dataset.
2. ICT service exports (BoP, current US$): Solomon Islands has a value of $2,752,381.90, well below the average of $4,578,501,153.77. The country is ranked 156 out of 166 in this category.
3. ICT service exports (% of service exports, BoP): Solomon Islands' value of 5.49% is below the average of 11.75%. The country is ranked 109 out of 166 countries in this aspect.
4. Communications, computer, etc. (% of service exports, BoP): Solomon Islands performs relatively well in this attribute with 51.67%, above the average of 45.85%. The country ranks 74 out of 169 nations.
5. Transport services (% of service exports, BoP): Solomon Islands excels in this category with 31.76%, significantly above the average of 21.80%. The country is ranked 43 out of 169 countries.
6. Travel services (% of service exports, BoP): Solomon Islands lags behind the average of 26.40% with a value of 12.07%. The country's rank is 114 out of 167.
7. Insurance and financial services (% of service exports, BoP): Solomon Islands' value of 4.51% is below the average of 6.46% for this category. The country is ranked 68 out of 161 in this attribute.
Summary
The analysis of key service export attributes for Solomon Islands reveals that the country faces challenges in its overall service export performance, with values below the global averages in most categories. Despite this, Solomon Islands shows strengths in the communications, computer, etc. and transport services sectors, outperforming the average values. These findings are crucial as they highlight areas where Solomon Islands can focus on improving its service export competitiveness, such as enhancing ICT service exports and travel services to align with global benchmarks.
Commercial Service Exports
For Commercial service exports (current US$), the focus country value for Solomon Islands is $43,158,217.74. This is notably below the attribute average of $28,508,218,402.80. Solomon Islands is ranked 164th out of 171 countries in this data set.
Travel services (% of commercial service exports) in Solomon Islands account for 14.01% of total commercial service exports. This is below the attribute average of 27.89%. The country is ranked 106th out of 167 countries for this metric.
Computer, communications, and other services (% of commercial service exports) in Solomon Islands make up 43.87% of total commercial service exports, slightly above the attribute average of 42.44%. The country is ranked 88th out of 169 countries in this category.
Insurance and financial services (% of commercial service exports) in Solomon Islands contribute 5.23% to total commercial service exports, which is below the attribute average of 6.97%. Solomon Islands ranks 62nd out of 161 countries for this indicator.
Transport services (% of commercial service exports) represent 36.89% of Solomon Islands' total commercial service exports, significantly higher than the attribute average of 23.37%. The country is ranked 36th out of 169 countries in this aspect.
Summary
In analyzing key macroeconomic indicators for Solomon Islands, it is evident that the country performs below the attribute averages in commercial service exports across various sectors such as travel services, insurance and financial services. However, Solomon Islands excels in transport services, surpassing the attribute average significantly. These findings are crucial as they highlight areas where the country can focus on improvement to enhance its economic performance and competitiveness in the global market.
Broad Import Attributes
- Imports of goods and services (current US$): The focus country's value of $495,896,163.99 is
significantly below the average of $126,191,355,599.06. Solomon Islands ranks 154th out of 163 countries
in this attribute data.
- Imports of goods and services (% of GDP): The focus country's value of 32.28% is below the average of
44.15%. Solomon Islands ranks 103rd out of 163 countries in this attribute data.
- International tourism, expenditures (% of total imports): Solomon Islands' value of 5.56% is above the
average of 3.98%. It ranks 20th out of 131 countries in this attribute data.
- Goods imports (BoP, current US$): With a value of $404,024,803.78, the focus country is below the
average of $92,007,788,027.17. It ranks 159th out of 171 countries in this attribute data.
- Imports of goods and services (BoP, current US$): Solomon Islands' value of $556,260,233.72 is lower
than the average of $120,321,577,988.12. It ranks 158th out of 170 countries in this attribute data.
- Imports of goods, services and primary income (BoP, current US$): The focus country's value of
$577,058,126.41 is significantly below the average of $144,514,428,722.28. It ranks 159th out of 170
countries in this attribute data.
Summary
The analysis reveals that the focus country, Solomon Islands, has relatively low levels of imports of goods and services compared to the global average, with rankings ranging from 103rd to 159th across different indicators. It also shows that Solomon Islands relies more on international tourism expenditures compared to its total imports, ranking 20th in this aspect. These findings are crucial as they indicate the country's limited integration into the global market for goods and services, while highlighting the importance of tourism as a source of external income.
Merchandise Imports
Merchandise imports in Solomon Islands amount to $479 million, significantly below the average of $89.4 billion. Solomon Islands ranks 176th out of 190 countries in this attribute data.
Regarding Merchandise imports by the reporting economy, residual (% of total merchandise imports), Solomon Islands has a value of 0.0000066, far below the average of 2.51%. This places Solomon Islands at the 178th rank out of 180 countries included in this data.
Summary
Solomon Islands' low merchandise imports totaling $479 million, compared to the global average of $89.4 billion, position it significantly below the norm, ranking 176th out of 190 countries. Additionally, with residual (% of total merchandise imports) at 0.0000066, well below the average of 2.51%, Solomon Islands ranks 178th out of 180 countries in this aspect. These indicators suggest that Solomon Islands has limited participation in global trade, which could hinder its economic growth and development potential.
Service Imports
Analysis of key service import attributes in Solomon Islands:
1. Service imports (BoP, current US$): Solomon Islands' value of 152,235,429.93 is significantly below the average of 27,615,356,170.47. It ranks 160 out of 171 countries in the dataset.
2. Communications, computer, etc. (% of service imports, BoP): With a value of 53.74%, Solomon Islands is above the average of 44.40%. It ranks 57 out of 169 countries.
3. Transport services (% of service imports, BoP): At 20.55%, Solomon Islands falls below the average of 32.90%. It ranks 127 out of 169 countries.
4. Travel services (% of service imports, BoP): Solomon Islands' value of 20.27% is above the average of 14.14%. It ranks 36 out of 169 countries.
5. Insurance and financial services (% of service imports, BoP): With a value of 5.45%, Solomon Islands is below the average of 8.53%. It ranks 99 out of 169 countries.
Summary
In analyzing key service import attributes in Solomon Islands, it is evident that the country has a significantly lower value of total service imports compared to the average of all countries in the dataset. Solomon Islands has a higher proportion of imports in communications, computer, etc., and travel services but falls below the average in transport services and insurance/financial services. These findings are crucial as they indicate the composition of Solomon Islands' service imports, highlighting areas where the country may have competitive advantages or where it may need to strengthen its capabilities to enhance its international trade and economic development.
Commercial Service Imports
1. Commercial service imports (current US$): The focus country value for Solomon Islands is significantly lower than the attribute average, ranking 161 out of 171 countries in the dataset.
2. Computer, communications and other services (% of commercial service imports): Solomon Islands exceeds the attribute average, ranking 78 out of 169 countries in the dataset.
3. Insurance and financial services (% of commercial service imports): Solomon Islands falls below the attribute average, ranking 90 out of 169 countries in the dataset.
4. Transport services (% of commercial service imports): The focus country value for Solomon Islands is notably lower than the attribute average, ranking 107 out of 169 countries in the dataset.
5. Travel services (% of commercial service imports): Solomon Islands surpasses the attribute average, ranking 32 out of 169 countries in the dataset.
Summary
The analysis of key macroeconomic indicators for Solomon Islands reveals that the country has a lower value for commercial service imports compared to the attribute average, ranking 161 out of 171 countries. However, Solomon Islands performs relatively well in terms of the percentage of computer, communications, and other services, as well as travel services, where it exceeds the attribute average. These statistics are vital as they provide insights into Solomon Islands' trade dynamics, highlighting areas where the country excels and areas that may require further attention and development to enhance its economic growth and competitiveness on the global stage.
Infrastructure
For Air transport, registered carrier departures worldwide, Solomon Islands had 6,680.904 departures. This value is significantly below the attribute average of 134,365.605. Solomon Islands ranks 94th out of 149 countries in this category.
Regarding Air transport, passengers carried, Solomon Islands transported 138,660.862 passengers. This figure is well below the attribute average of 11,848,242.700. Solomon Islands ranks 117th out of 149 countries for the number of passengers carried.
Summary
In the realm of air transport, Solomon Islands falls below the global average in both registered carrier departures and the number of passengers carried. With rankings of 94th and 117th out of 149 countries respectively, these statistics indicate a limited level of air connectivity and potentially lower economic activity compared to other nations. This underscores the importance of investing in air infrastructure and bolstering transportation networks to enhance economic growth and global connectivity for Solomon Islands.
Information Technology Infrastructure
For Secure Internet servers, the focus country, Solomon Islands, has 43 servers, which is significantly below the attribute average of 458,294. Solomon Islands ranks 178 out of 193 countries in this dataset.
When looking at Secure Internet servers per 1 million people, Solomon Islands has 62.21 servers, well below the attribute average of 14,067. Solomon Islands ranks 144 out of 193 countries in this dataset.
Regarding Individuals using the Internet (% of population), Solomon Islands has 35.88% of its population online, which is lower than the attribute average of 64.77%. Solomon Islands ranks 145 out of 180 countries in the dataset.
In terms of Fixed broadband subscriptions, Solomon Islands has 1,000 subscriptions, significantly lower than the attribute average of 6,591,956. Solomon Islands ranks 182 out of 185 countries in this dataset.
For Mobile cellular subscriptions, Solomon Islands boasts 474,000 subscriptions, below the attribute average of 42,526,464. Solomon Islands ranks 167 out of 193 countries in this dataset.
Summary
The analysis of key macroeconomic indicators for Solomon Islands reveals a significant lag in secure internet servers, internet usage, fixed broadband subscriptions, and mobile cellular subscriptions compared to global averages. This indicates a digital divide and a potential lack of infrastructure and access to technology in the country. Addressing these gaps is crucial for promoting economic development, enhancing communication networks, and fostering innovation in Solomon Islands.
Energy Consumption
Regarding Renewable energy consumption (% of total final energy consumption), Solomon Islands has a value of 49.01%, which is above the average of 32.18%. This places Solomon Islands at rank 52 out of 191 countries included in the data.
As for CO2 emissions (kt), Solomon Islands has emissions of 223.3 kt. This is significantly below the average of 171,895.94 kt. Solomon Islands ranks 176 out of 188 countries in this metric.
Summary
Solomon Islands stands out for its high proportion of renewable energy consumption, exceeding the global average. This reflects a strong commitment to sustainability and potentially positions the country as a leader in renewable energy adoption. On the other hand, the significantly low CO2 emissions indicate an environmentally conscious approach, showcasing efforts to mitigate climate change despite limited industrial activity. These metrics are crucial as they demonstrate not only environmental responsibility but also potential attractiveness for eco-conscious investments and partnerships, paving the way for long-term sustainable development.
Government Balance Sheet
The Net acquisition of financial assets in Solomon Islands is 0.60% of GDP, which is below the attribute average of 2.45%. This ranks Solomon Islands 56th out of 87 countries.
Central government debt in Solomon Islands is 11.46% of GDP, significantly lower than the attribute average of 74.12%. Solomon Islands ranks 60th out of 61 countries in this aspect.
Solomon Islands' Net incurrence of liabilities is 3.34% of GDP, below the attribute average of 7.43%. This places Solomon Islands at the 75th position out of 92 countries.
The Total reserves (% of total external debt) in Solomon Islands is 154.10%, well above the attribute average of 66.13%. Solomon Islands ranks 6th out of 102 countries in this metric.
Reserves and related items in Solomon Islands amount to $23,537,837.49, significantly lower than the attribute average of $1,924,407,186.58. Solomon Islands ranks 88th out of 171 countries in this category.
Total reserves minus gold in Solomon Islands stand at $660,995,997.35, far below the attribute average of $74,221,588,171.61. Solomon Islands ranks 136th out of 161 countries in this regard.
The Total reserves (includes gold) in Solomon Islands amount to $660,995,997.35, below the attribute average of $85,708,019,773.47. Solomon Islands ranks 137th out of 161 countries in this aspect.
Solomon Islands has total reserves in months of imports at 13.75, higher than the attribute average of 7.10 months. Solomon Islands ranks 15th out of 151 countries based on this metric.
Summary
The macroeconomic indicators for Solomon Islands paint a picture of a country with relatively low levels of government debt, high reserves compared to external debt, but lower reserves and related items when compared to the global average. While the country ranks lower in terms of reserves and related items, its high reserves in months of imports indicate a strong position in managing external financial pressures. These indicators are crucial as they reflect the country's fiscal stability, ability to manage debt, and readiness to handle external shocks, all of which impact its overall economic health and resilience.
Government Revenue
1. Revenue, excluding grants (% of GDP): The focus country, Solomon Islands, has a value of 24.59%, which is below the attribute average of 27.02%. Solomon Islands ranks 64th out of 122 countries in this dataset.
2. Grants and other revenue (% of revenue): Solomon Islands' value of 44.52% is above the attribute average of 23.54%. It ranks 15th out of 108 countries in this category.
3. Taxes on goods and services (% of revenue): The focus country's value is 12.64%, below the average of 31.82%. Solomon Islands ranks 113th out of 122 countries for this attribute.
4. Taxes on international trade (% of revenue): Solomon Islands has a value of 22.77%, which is significantly higher than the average of 6.24%. It ranks 5th out of 101 countries in this dataset.
5. Other taxes (% of revenue): The focus country's value for this attribute is 0.88%, below the average of 2.12%. Solomon Islands ranks 56th out of 106 countries.
6. Taxes on income, profits and capital gains (% of revenue): Solomon Islands' value is 19.18%, slightly below the average of 24.66%. It ranks 75th out of 119 countries for this attribute.
Summary
The analysis of key macroeconomic indicators for the Solomon Islands reveals that the country relies heavily on grants and other revenue, with a value of 44.52%, ranking 15th out of 108 countries. However, its tax revenue composition is skewed, with taxes on goods and services and taxes on income, profits, and capital gains below average. Notably, taxes on international trade are significantly higher, ranking 5th out of 101 countries. These findings are crucial as they highlight the country's dependency on external assistance and its limited domestic revenue sources, particularly in income and goods/services taxation.
Taxes
1. Tax revenue (% of GDP): The focus country, Solomon Islands, has a tax revenue equivalent to 21.05% of its GDP, which is higher than the average of 16.72%. Solomon Islands is ranked 33 out of 123 countries in this dataset.
2. Taxes on exports (% of tax revenue): Solomon Islands imposes taxes on exports that account for 18.10% of its tax revenue, significantly higher than the average of 2.54%. This places Solomon Islands at the top rank out of 36 countries for this attribute.
3. Customs and other import duties (% of tax revenue): With customs and import duties amounting to 22.95% of its tax revenue, Solomon Islands surpasses the average of 9.01%. Its rank is 8 out of 99 countries in the dataset.
4. Taxes on income, profits and capital gains (% of total taxes): Solomon Islands derives 34.58% of its total tax revenue from taxes on income, profits, and capital gains, slightly below the average of 38.40%. The country is ranked 72 out of 120 countries.
5. Tariff rate, applied, weighted mean, all products (%): Solomon Islands' applied tariff rate of 13.62% is higher than the average of 5.21%. The country holds the 7th rank out of 153 countries for this statistic.
Summary
Solomon Islands demonstrates a strong reliance on tax revenue, with taxes on exports and customs and import duties playing a significant role in its fiscal operations. The country's emphasis on tariffs on exports and imports indicates a strategic approach towards protecting domestic industries and boosting government revenue. These findings are crucial as they highlight Solomon Islands' taxation policies and its positioning in the global trade landscape, showcasing its commitment to economic self-sufficiency and financial stability.
Government Expenses
Expense (% of GDP): The focus country, Solomon Islands, has an expense of 31.91% of GDP, slightly above the average of 31.69%. Solomon Islands ranks 60 out of 123 countries in this attribute.
Compensation of employees (% of expense): Solomon Islands allocates 36.44% of its expenses to employee compensation, significantly higher than the average of 24.70%. The country ranks 24 out of 123 countries in this category.
Goods and services expense (% of expense): Solomon Islands dedicates 52.67% of its expenses to goods and services, far exceeding the average of 14.77%. This places Solomon Islands at the top rank out of 122 countries for this attribute.
Interest payments (% of expense): With interest payments accounting for 0.61% of expenses, Solomon Islands falls below the average of 6.85%. The country ranks 113 out of 121 countries in this aspect.
Other expense (% of expense): Solomon Islands spends 5.17% of its expenses on other items, below the average of 8.29%. The country ranks 72 out of 120 countries for this metric.
Subsidies and other transfers (% of expense): Only 5.11% of Solomon Islands' expenses go towards subsidies and transfers, significantly lower than the average of 43.29%. This places Solomon Islands at the 121st rank out of 121 countries included in the data set.
Summary
Overall, Solomon Islands allocates a significant portion of its GDP to expenses, with a strong focus on employee compensation and goods/services expenditure. The country ranks high in both employee compensation and goods/services expense categories compared to global averages. However, Solomon Islands lags behind in interest payments and subsidies/transfers, indicating potential areas for improvement in financial management and social welfare allocation.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Average precipitation in depth (mm per year) | 3/178 |
| Total natural resources rents (% of GDP) | 8/175 |
| Forest rents (% of GDP) | 1/174 |
| Agriculture, forestry, and fishing, value added (% of GDP) | 8/182 |
| Total reserves (% of total external debt) | 6/102 |
| Total reserves in months of imports | 15/151 |
| Taxes on international trade (% of revenue) | 5/101 |
| Taxes on exports (% of tax revenue) | 1/36 |
| Customs and other import duties (% of tax revenue) | 8/99 |
| Tariff rate, applied, weighted mean, all products (%) | 7/153 |
| Goods and services expense (% of expense) | 1/122 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Urban population (% of total population) | 176/194 |
| Death rate, crude (per 1,000 people) | 180/192 |
| Land under cereal production (hectares) | 161/174 |
| Cereal production (metric tons) | 160/174 |
| GDP (current US$) | 172/189 |
| GDP, PPP (current international $) | 169/181 |
| GNI (current US$) | 168/185 |
| GNI, PPP (current international $) | 167/181 |
| Gross value added at basic prices (GVA) (current US$) | 161/176 |
| Services, value added (current US$) | 172/183 |
| Industry (including construction), value added (current US$) | 169/183 |
| Broad money to total reserves ratio | 123/126 |
| Final consumption expenditure (current US$) | 152/159 |
| General government final consumption expenditure (current US$) | 146/158 |
| Household and NPISHs Final consumption expenditure (current US$) | 151/158 |
| Total debt service (% of GNI) | 113/120 |
| Public and publicly guaranteed debt service (% of GNI) | 109/120 |
| Debt service on external debt, total (TDS, current US$) | 119/123 |
| Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) | 119/123 |
| External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) | 123/123 |
| External debt stocks, total (DOD, current US$) | 118/123 |
| Exports of goods, services and primary income (BoP, current US$) | 156/170 |
| Exports of goods and services (BoP, current US$) | 156/170 |
| Exports of goods and services (current US$) | 150/163 |
| Service exports (BoP, current US$) | 163/171 |
| ICT service exports (BoP, current US$) | 156/166 |
| Commercial service exports (current US$) | 164/171 |
| Imports of goods and services (current US$) | 154/163 |
| Goods imports (BoP, current US$) | 159/171 |
| Imports of goods and services (BoP, current US$) | 158/170 |
| Imports of goods, services and primary income (BoP, current US$) | 159/170 |
| Merchandise imports (current US$) | 176/190 |
| Merchandise imports by the reporting economy, residual (% of total merchandise imports) | 178/180 |
| Service imports (BoP, current US$) | 160/171 |
| Commercial service imports (current US$) | 161/171 |
| Secure Internet servers | 178/193 |
| Fixed broadband subscriptions | 182/185 |
| CO2 emissions (kt) | 176/188 |
| Central government debt, total (% of GDP) | 60/61 |
| Taxes on goods and services (% of revenue) | 113/122 |
| Interest payments (% of expense) | 113/121 |
| Subsidies and other transfers (% of expense) | 121/121 |