Overview: In 2019 Solomon Islands was the number 172 economy in the world in terms of GDP (current US$), the number 163 in total exports, the number 191 in total imports, the number 137 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of Solomon Islands are Rough Wood ($419M), Processed Fish ($65.1M), Aluminium Ore ($52M), Non-fillet Frozen Fish ($30.7M), and Palm Oil ($22.8M), exporting mostly to China ($415M), Italy ($57.4M), India ($36.8M), Thailand ($21.6M), and United Kingdom ($15.6M).

Imports: The top imports of Solomon Islands are Refined Petroleum ($81.9M), Non-fillet Frozen Fish ($16M), Insulated Wire ($10.9M), Broadcasting Equipment ($8.95M), and Excavation Machinery ($8.49M), importing mostly from China ($98.5M), Australia ($53.2M), South Korea ($49.5M), Singapore ($47.1M), and Malaysia ($40.2M).

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

Historical Data

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Yearly Exports

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Top Export (2019): Rough Wood, $419M

Top Destination (2019): China, $415M

In 2019, Solomon Islands exported a total of $637M, making it the number 163 exporter in the world. During the last five reported years the exports of Solomon Islands have changed by -$20.9M from $658M in 2014 to $637M in 2019.

The most recent exports are led by Rough Wood ($419M), Processed Fish ($65.1M), Aluminium Ore ($52M), Non-fillet Frozen Fish ($30.7M), and Palm Oil ($22.8M). The most common destination for the exports of Solomon Islands are China ($415M), Italy ($57.4M), India ($36.8M), Thailand ($21.6M), and United Kingdom ($15.6M).

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Yearly Imports

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Top Import (2019): Refined Petroleum, $81.9M

Top Origin (2019): China, $98.5M

In 2019 Solomon Islands imported $405M, making it the number 191 trade destination in the world. During the last five reported years the imports of Solomon Islands changed by -$61.8M from $466M in 2014 to $405M in 2019.

The most recent imports of Solomon Islands are led by Refined Petroleum ($81.9M), Non-fillet Frozen Fish ($16M), Insulated Wire ($10.9M), Broadcasting Equipment ($8.95M), and Excavation Machinery ($8.49M). The most common import partners for Solomon Islands are China ($98.5M), Australia ($53.2M), South Korea ($49.5M), Singapore ($47.1M), and Malaysia ($40.2M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

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).

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 (790), Aluminium Ore (260), Processed Fish (103), Coconut Oil (53.2), and Veneer Sheets (47.2). 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 Veneers and sheets for plywood etc <6mm thick (-0.7), Wood continuously shaped along any edges (-0.82), Flour, meal of oleaginous seed or fruit except mustard (-0.99), Wood sawn, chipped lengthwise, sliced or peeled (-1.11), and Flour etc of meat, fish or offal for animal feed (-1.3). 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 Crude Petroleum (0.045), Coconuts, Brazil Nuts, and Cashews (0.041), Crustaceans (0.041), Gold (0.04), and Fish Fillets (0.037). 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 it is currently specialized 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 and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.