Current account balance in Solomon Islands
Solomon Islands: Current account balance was -4.2% in 2024. ◆ Volatile
Current account balance in Solomon Islands, 1975–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for current account balance in Solomon Islands is -4.2%, measured in 2024.
The figure is up 64.7% on the previous year and down 12.7% over ten years.
Over the whole period, current account balance in Solomon Islands peaked at 6.8% in 1979 and was at its lowest, -19.5%, in 2002.
That places Solomon Islands 137th out of 200 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Solomon Islands, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1975 | -16.8% | — |
| 1976 | 2.1% | -112.2% |
| 1977 | 6.2% | +200.7% |
| 1978 | 3.0% | -51.7% |
| 1979 | 6.8% | +127.2% |
| 1980 | -6.7% | -198.0% |
| 1981 | -13.7% | +105.8% |
| 1982 | -13.0% | -5.3% |
| 1983 | -7.5% | -42.2% |
| 1984 | 0.7% | -109.8% |
| 1985 | -16.8% | -2386.7% |
| 1986 | -1.6% | -90.5% |
| 1987 | -2.8% | +73.1% |
| 1988 | -15.8% | +471.6% |
| 1989 | -19.2% | +21.8% |
| 1990 | -12.9% | -32.8% |
| 1991 | -15.8% | +21.9% |
| 1992 | 0.5% | -103.1% |
| 1993 | -2.5% | -627.6% |
| 1994 | -0.9% | -66.5% |
| 1995 | 1.8% | -308.4% |
| 1996 | 2.9% | +60.8% |
| 1997 | -7.2% | -352.1% |
| 1998 | 1.8% | -124.6% |
| 1999 | 4.4% | +148.0% |
| 2000 | -9.8% | -321.8% |
| 2001 | -15.8% | +62.2% |
| 2002 | -19.5% | +23.2% |
| 2003 | -9.6% | -51.0% |
| 2004 | -4.0% | -57.7% |
| 2005 | -16.3% | +303.5% |
| 2006 | -6.8% | -58.1% |
| 2007 | -11.5% | +68.7% |
| 2008 | -10.3% | -11.1% |
| 2009 | -7.4% | -27.9% |
| 2010 | -16.1% | +117.0% |
| 2011 | -1.8% | -89.0% |
| 2012 | 2.2% | -226.2% |
| 2013 | -3.0% | -234.6% |
| 2014 | -3.7% | +23.8% |
| 2015 | -2.8% | -25.7% |
| 2016 | -3.5% | +28.3% |
| 2017 | -4.3% | +20.8% |
| 2018 | -3.0% | -30.8% |
| 2019 | -9.5% | +221.3% |
| 2020 | -1.6% | -82.8% |
| 2021 | -5.0% | +207.6% |
| 2022 | -14.9% | +196.9% |
| 2023 | -11.8% | -20.6% |
| 2024 | -4.2% | -64.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.2% | -16.8% | 6.8% | 5 |
| 1980s | -9.6% | -19.2% | 0.7% | 10 |
| 1990s | -2.8% | -15.8% | 4.4% | 10 |
| 2000s | -11.1% | -19.5% | -4.0% | 10 |
| 2010s | -4.5% | -16.1% | 2.2% | 10 |
| 2020s | -7.5% | -14.9% | -1.6% | 5 |
Countries ranked near Solomon Islands
- 134 Burkina Faso -4.0% compare
- 135 Kazakhstan -4.1% compare
- 136 Gambia -4.1% compare
- 138 Madagascar -4.3% compare
- 139 Botswana -4.3% compare
- 140 North Macedonia -4.3% compare
More economy & growth data for Solomon Islands
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 0.9064 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.96 Percent per annum (2029)
- Gross capital formation (constant 2015 US$), annual growth rate 1.88 % change on previous year (2024)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.2196 constant 2015 US$ per US$ of GDP (2024)
- Gross capital formation (constant 2015 US$), per capita 424.51 constant 2015 US$ per person (2024)
- Imports of goods and services (current US$), annual growth rate 14.75 % change on previous year (2024)
- Imports of goods and services (current US$), per unit of GDP 0.7078 current US$ per US$ of GDP (2024)
- Imports of goods and services (current US$), per capita 1,369 current US$ per person (2024)
- Imports of goods and services (current LCU), annual growth rate 15.83 % change on previous year (2024)
- Imports of goods and services (current LCU), per unit of GDP 5.98 current LCU per US$ of GDP (2024)
Frequently asked questions
- What is current account balance in Solomon Islands?
- Current account balance in Solomon Islands was -4.2% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Solomon Islands?
- The highest recorded value was 6.8% in 1979.
- What is the lowest current account balance recorded in Solomon Islands?
- The lowest recorded value was -19.5% in 2002.
- How does Solomon Islands rank for current account balance?
- Solomon Islands ranks 137th out of 200 countries with data for 2024.
- Is current account balance rising or falling in Solomon Islands?
- Over the last ten years it is down 12.7%. The long-run trend across the full record is volatile.
- Where does this Solomon Islands data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.