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2023
Product
Exports | Imports $548M | $550M168 of 226 |  194 of 226
2023
Per Capita Product
Exports | Imports $685 | $687198 of 220 |  171 of 220

About

Overview In 2023 Solomon Islands was the number 168 economy in the world in terms of total exports and the number 194 in total imports.

Exports The top exports of Solomon Islands are Rough Wood ($275M), Processed Fish ($78.3M), Gold ($59.3M), Precious Metal Ore ($31.3M), and Palm Oil ($25.7M), exporting mostly to China ($305M), Australia ($59.6M), Italy ($53.5M), Spain ($25.5M), and Netherlands ($22.5M).

Imports The top imports of Solomon Islands are Refined Petroleum ($68.6M), Non-fillet Frozen Fish ($24.8M), Broadcasting Equipment ($13.5M), Iron Structures ($11.6M), and Delivery Trucks ($11.4M), importing mostly from China ($231M), Singapore ($73.8M), Australia ($71.3M), Chinese Taipei ($27.9M), and Malaysia ($25.3M).

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

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

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

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Rough Wood$275M
Top Destination (2023)China$305M

In 2023, Solomon Islands exported a total of $548M, making it the number 168 exporter in the world. During the last five reported years the exports of Solomon Islands have changed by -$466M from $1.01B in 2018 to $548M in 2023.

The most recent exports are led by Rough Wood ($275M), Processed Fish ($78.3M), Gold ($59.3M), Precious Metal Ore ($31.3M), and Palm Oil ($25.7M). The most common destination for the exports of Solomon Islands are China ($305M), Australia ($59.6M), Italy ($53.5M), Spain ($25.5M), and Netherlands ($22.5M).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Australia$35.7M (+ 150%)
Thailand$13.3M (+ 269%)
Italy$7.81M (+ 17.1%)
Fastest Growing Import Markets (2022 - 2023)
China$34.1M (+ 17.4%)
Australia$17.8M (+ 33.2%)
Hong Kong$8.57M (+ 261%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Most Specialized Products by RCA Index

Solomon Islands has a high level of specialization in Rough Wood (862), Processed Fish (171), Coconut Oil (90.6), Precious Metal Ore (83.1), and Nickel Ore (46.4). 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

The highest complexity exports of Solomon Islands according to the product complexity index (PCI) are Aluminium; powders and flakes (-0.48), Antiques; of an age exceeding one hundred years (-0.7), Wood (including strips, friezes for parquet flooring, not assembled), continuously shaped (tongued,... (-0.83), Sheets for veneering (including those obtained by slicing laminated wood), for plywood... (-0.85), and Fruit, nuts and other edible parts of plants; prepared or preserved in... (-1.05). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Solomon Islands according to the relatedness index, were Cocoa Shells (0.051), Crude Petroleum (0.047), Manganese Ore (0.046), Crustaceans (0.045), and Processed Crustaceans (0.045). 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.

Product Space

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

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.

Relatedness Space (2023)

Diversification Frontier

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Depth

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.

Diversification Frontier

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