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 serious economic disarray, indeed near collapse. Tanker deliveries of crucial fuel supplies (including those for electrical generation) have become sporadic due to the government's inability to pay and attacks against ships. Telecommunications are threatened by the nonpayment of bills and by the lack of technical and maintenance staff many of whom have left the country.

GDP purchasing power parity - $800 million (2001 est.)

GDP - real growth rate -10% (2001 est.)

GDP - per capita purchasing power parity - $1,700 (2001 est.)

GDP - composition by sector
agriculture: 42%
industry: 11%
services: 47% (2000 est.)

Population below poverty line NA%

Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices) 7.9% (2001 est.)

Labor force 26,842

Labor force - by occupation agriculture 75%, industry 5%, services 20% (2000 est.)

Unemployment rate NA%

Budget
revenues: $38 million (2001)
expenditures: $NA, including capital expenditures of $NA

Industries fish (tuna), mining, timber

Industrial production growth rate NA%

Electricity - production 32 million kWh (2000)

Electricity - production by source
fossil fuel: 100%
hydro: 0%
other: 0% (2000)
nuclear: 0%

Electricity - consumption 29.76 million kWh (2000)

Electricity - exports 0 kWh (2000)

Electricity - imports 0 kWh (2000)

Agriculture - products cocoa, beans, coconuts, palm kernels, rice, potatoes, vegetables, fruit; cattle, pigs; timber; fish

Exports $165 million (f.o.b., 1999 est.)

Exports - commodities timber, fish, copra, palm oil, cocoa

Exports - partners Japan 22%, China 15%, Philippines 13%, South Korea 12%, UK 12%, Thailand 5% (2000)

Imports $152 million (f.o.b., 1999 est.)

Imports - commodities plant and equipment, manufactured goods, food and live animals, fuels, chemicals

Imports - partners Australia 27%, Singapore 25%, NZ 5.5%, Japan 5.3%, US 5.1% (2000)

Debt - external $137 million (2001 est.)

Economic aid - recipient $28 million mainly from Japan, Australia, China, and NZ (2001 est.)

Currency Solomon Islands dollar (SBD)

Currency code SBD

Exchange rates Solomon Islands dollars per US dollar - 5.3728 (December 2001), 5.0889 (2000), 4.8381 (1999), 4.8156 (1998), 3.7169 (1997)

Fiscal year calendar year

NOTE: The information regarding Solomon Islands on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Solomon Islands Economy 2002 information contained here. All suggestions for corrections of any errors about Solomon Islands Economy 2002 should be addressed to the CIA.