Flag Solomon Islands

Product Exports (2018): $869M, Rank 155 of 222

Exports Per Capita (2018): $1.33k, Rank 179 of 219

Product Imports (2018): $666M, Rank 181 of 221

Imports Per Capita (2018): $1.02k, Rank 203 of 219

Service Exports (2018): $145M, Rank 80 of 88

Service Imports (2018): $215M, Rank 83 of 88

GDP (2018): $1.4B, CURRENT US$
Rank 178 of 196

GDP growth (2008 - 2018): 129%, CURRENT US$
Rank 19 of 196

GDP PC (2018): $2,138, CURRENT US$
Rank 148 of 196

GDP PC GROWTH (2008 - 2018): 76.9%, CURRENT US$
Rank 27 of 196

Overview: This page contains the latest international trade data for Solomon Islands, including service trade data. In 2018 Solomon Islands was the number 178 economy in the world in terms of GDP (current US$), the number 155 in total exports, and the number 181 in total imports. In 2018, Solomon Islands exported $869M and imported $666M, resulting in a positive trade balance of $203M. In 2018, Solomon Islands's exports per capita were $1.33k and its imports per capita were $1.02k.

Trade: The top exports of Solomon Islands are Rough Wood ($608M), Processed Fish ($65.8M), Aluminium Ore ($43.6M), Non-fillet Frozen Fish ($30.8M), and Palm Oil ($26.7M). The top imports of Solomon Islands are Refined Petroleum ($98.3M), Rice ($39M), Fishing Ships ($38.4M), Large Construction Vehicles ($32.2M), and Delivery Trucks ($15.6M).

Destinations: Solomon Islands exports mostly to China ($583M), Italy ($55.1M), Chinese Taipei ($29.7M), India ($29.1M), and Thailand ($22.1M), and imports mostly from China ($120M), Australia ($104M), Singapore ($95.7M), Malaysia ($79.7M), and Chinese Taipei ($51.6M).

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

Yearly Exports

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Top Export (2018): Rough Wood, $608M

Top Destination (2018): China, $583M

In 2018 Solomon Islands exported a total of $869M, making it the number 155 exporter in the world. During the last five reported years the exports of Solomon Islands have changed by $11.3M from $857M in 2013 to $869M in 2018.

The most recent exports are led by Rough Wood ($608M), Processed Fish ($65.8M), Aluminium Ore ($43.6M), Non-fillet Frozen Fish ($30.8M), and Palm Oil ($26.7M). The most common destination for the exports of Solomon Islands are China ($583M), Italy ($55.1M), Chinese Taipei ($29.7M), India ($29.1M), and Thailand ($22.1M).

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Yearly Imports

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Top Import (2018): Refined Petroleum, $98.3M

Top Origin (2018): China, $120M

In 2018 Solomon Islands imported $666M, making it the number 181 trade destination in the world. During the last five reported years the imports of Solomon Islands changed by $145M from $521M in 2013 to $666M in 2018.

The most recent imports of Solomon Islands are led by Refined Petroleum ($98.3M), Rice ($39M), Fishing Ships ($38.4M), Large Construction Vehicles ($32.2M), and Delivery Trucks ($15.6M). The most common import partners for Solomon Islands are China ($120M), Australia ($104M), Singapore ($95.7M), Malaysia ($79.7M), and Chinese Taipei ($51.6M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

  • China, $126M (+ 27.7%)
  • Chinese Taipei, $23M (+ 342%)
  • Thailand, $19.2M (+ 649%)

Fastest Growing Import Markets (2017 - 2018)

  • Chinese Taipei, $48.9M (+ 1.79k%)
  • China, $40.6M (+ 51.4%)
  • Singapore, $17.6M (+ 22.5%)

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).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Solomon Islands. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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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 (818), Aluminium Ore (183), Processed Fish (77.7), Coconut Oil (50.4), and Cocoa Beans (32.5). 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 (0.49), Buttons, press and snap fasteners, etc (-0.087), Animal feed preparations, nes (-0.31), Bulbs, tubers, corms, etc., chicory plant (non-food) (-0.64), and Petroleum coke, bitumen & other oil industry residues (-0.7). 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 (0.059), Crustaceans (0.058), Fish Fillets (0.053), Non-fillet Fresh Fish (0.053), and Cocoa Shells (0.052). 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.

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.