Flag Solomon Islands

Overview In 2020 Solomon Islands was the number 168 economy in the world in terms of total exports and the number 191 in total imports.

Exports The top exports of Solomon Islands are Rough Wood ($310M), Processed Fish ($58.7M), Aluminium Ore ($34.4M), Palm Oil ($25M), and Non-fillet Frozen Fish ($18M), exporting mostly to China ($316M), Italy ($48.2M), India ($17.9M), Thailand ($15.2M), and Netherlands ($14.9M).

Imports The top imports of Solomon Islands are Refined Petroleum ($57.5M), Non-fillet Frozen Fish ($16.5M), Rice ($10.4M), Poultry Meat ($7.35M), and Excavation Machinery ($6.1M), importing mostly from China ($117M), Australia ($45.8M), South Korea ($36.4M), Singapore ($31.2M), and Malaysia ($19.4M).

Location Solomon Islands borders Australia, Papua New Guinea, Vanuatu, and New Caledonia by sea.

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The following section uses the most recent trade data from partners of Solomon Islands.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Historical Data

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Yearly Exports

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Top Export (2020): Rough Wood, $310M

Top Destination (2020): China, $316M

In 2020, Solomon Islands exported a total of $491M, making it the number 168 exporter in the world. During the last five reported years the exports of Solomon Islands have changed by -$23.2M from $514M in 2015 to $491M in 2020.

The most recent exports are led by Rough Wood ($310M), Processed Fish ($58.7M), Aluminium Ore ($34.4M), Palm Oil ($25M), and Non-fillet Frozen Fish ($18M). The most common destination for the exports of Solomon Islands are China ($316M), Italy ($48.2M), India ($17.9M), Thailand ($15.2M), and Netherlands ($14.9M).

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Yearly Imports

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Top Import (2020): Refined Petroleum, $57.5M

Top Origin (2020): China, $117M

In 2020 Solomon Islands imported $338M, making it the number 191 trade destination in the world. During the last five reported years the imports of Solomon Islands changed by -$153M from $491M in 2015 to $338M in 2020.

The most recent imports of Solomon Islands are led by Refined Petroleum ($57.5M), Non-fillet Frozen Fish ($16.5M), Rice ($10.4M), Poultry Meat ($7.35M), and Excavation Machinery ($6.1M). The most common import partners for Solomon Islands are China ($117M), Australia ($45.8M), South Korea ($36.4M), Singapore ($31.2M), and Malaysia ($19.4M).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

Solomon Islands Exports Services (2018): $145M

Solomon Islands Imports Services (2018): $215M

In 2018, Solomon Islands exported $145M worth of services. The top services exported by Solomon Islands in 2018 were Personal travel ($57.3M), Business travel ($23.7M), Air transport ($20.8M), Sea transport ($17.6M), and Other business services ($14.2M).

The top services imported by Solomon Islands in 2018 were Sea transport ($47.3M), Other business services ($46M), Personal travel ($30.5M), Business travel ($22.5M), and Government services, n.i.e. ($21.7M).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Solomon Islands are Undenatured ethyl alcohol > 80% by volume (19.8M%)and Vermouth and other flavoured grape wines - pack < 2l (12.1M%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Solomon Islands are:
136: Most Favoured Nation duty rate treatement
314: Preferential tariff for The Melanesian Spearhead Group (MSG)

Economic Complexity

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Most Specialized Products by RCA Index

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Solomon Islands has a high level of specialization in Rough Wood (800), Aluminium Ore (214), Processed Fish (106), Coconut Oil (68), and Veneer Sheets (65.4). Specialization is measured using RCA, an index that takes the ratio between Solomon Islands observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Solomon Islands according to the product complexity index (PCI) are Navigational instruments, direction finding compasses (0.35), Veneers and sheets for plywood etc <6mm thick (-0.5), Flour, meal of oleaginous seed or fruit except mustard (-0.83), Vessels and other floating structures for breaking up (-1.05), and Wood sawn, chipped lengthwise, sliced or peeled (-1.15). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Solomon Islands according to the relatedness index, are Gold (0.046), Fish Fillets (0.045), Crustaceans (0.044), Manganese Ore (0.042), and Non-fillet Fresh Fish (0.039). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Solomon Islands is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Solomon Islands. These are products that tend to be co-exported with the products that Solomon Islands exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.