Solomon Islands2020 Product Exports | Imports: $491M | $338M, 168 of 226 | 191 of 226
2020 Per Capita Product Exports | Imports: $715 | $493, 134 of 219 | 174 of 219
2018 Service Exports | Imports : $145M | $215M, 128 of 138 | 133 of 138
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.
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.
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.
Top Export (2020): Rough Wood, $310M
Top Destination (2020): China, $117M
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).
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).
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.
The highest complexity exports of Solomon Islands according to the product complexity index (PCI) are Compasses (0.35), Veneer Sheets (-0.5), Oil Seed Flower (-0.83), Scrap Vessels (-1.05), and Sawn Wood (-1.15). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
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.
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.
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