External balance on goods and services in Solomon Islands
Solomon Islands: External balance on goods and services was -30.2% in 2024. ◆ Volatile
External balance on goods and services in Solomon Islands, 1980–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
In 2024, external balance on goods and services in Solomon Islands stood at -30.2%.
The figure is down 5.6% on the previous year and down 244.1% over ten years.
Over the whole period, external balance on goods and services in Solomon Islands peaked at 3.8% in 1999 and was at its lowest, -69.4%, in 1989.
That places Solomon Islands 170th out of 193 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Solomon Islands, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1980 | -47.5% | — |
| 1981 | -47.5% | -0.0% |
| 1982 | -47.5% | +0.1% |
| 1983 | -47.6% | +0.1% |
| 1984 | -39.3% | -17.3% |
| 1985 | -47.3% | +20.3% |
| 1986 | -40.5% | -14.5% |
| 1987 | -43.4% | +7.4% |
| 1988 | -68.0% | +56.6% |
| 1989 | -69.4% | +2.0% |
| 1990 | -49.7% | -28.4% |
| 1991 | -62.7% | +26.1% |
| 1992 | -42.7% | -31.9% |
| 1993 | -43.6% | +2.2% |
| 1994 | -37.6% | -13.9% |
| 1995 | -24.1% | -35.7% |
| 1996 | -8.5% | -64.7% |
| 1997 | -10.3% | +20.7% |
| 1998 | -2.1% | -79.7% |
| 1999 | 3.8% | -280.6% |
| 2000 | -4.4% | -215.5% |
| 2001 | -10.0% | +130.7% |
| 2002 | -2.1% | -79.1% |
| 2003 | -12.0% | +470.6% |
| 2004 | -13.1% | +9.1% |
| 2005 | -12.0% | -8.2% |
| 2006 | -15.7% | +30.8% |
| 2007 | -19.5% | +24.2% |
| 2008 | -17.9% | -8.0% |
| 2009 | -13.6% | -24.1% |
| 2010 | -25.8% | +90.4% |
| 2011 | -6.9% | -73.1% |
| 2012 | -5.0% | -28.0% |
| 2013 | -7.7% | +54.8% |
| 2014 | -8.8% | +13.4% |
| 2015 | -7.5% | -15.0% |
| 2016 | -6.1% | -18.4% |
| 2017 | -4.8% | -20.6% |
| 2018 | -4.2% | -12.3% |
| 2019 | -10.0% | +135.8% |
| 2020 | -4.3% | -56.6% |
| 2021 | -14.3% | +229.4% |
| 2022 | -18.6% | +29.8% |
| 2023 | -28.6% | +54.1% |
| 2024 | -30.2% | +5.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | -49.8% | -69.4% | -39.3% | 10 |
| 1990s | -27.7% | -62.7% | 3.8% | 10 |
| 2000s | -12.0% | -19.5% | -2.1% | 10 |
| 2010s | -8.7% | -25.8% | -4.2% | 10 |
| 2020s | -19.2% | -30.2% | -4.3% | 5 |
Countries ranked near Solomon Islands
- 167 French Polynesia -27.8% compare
- 168 Curaçao -28.8% compare
- 169 Republic of Moldova -29.2% compare
- 171 Kosovo -30.3% compare
- 171 Kosovo (UNSCR 1244) -30.3% compare
- 173 American Samoa -30.8% 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)
- Total reserves minus gold (current US$), annual growth rate 0.0912 % change on previous year (2024)
- Total reserves minus gold (current US$), per unit of GDP 0.4297 current US$ per US$ of GDP (2024)
- Total reserves minus gold (current US$), per capita 830.8 current US$ per person (2024)
- General government final consumption expenditure (current US$) -1.03 % change on previous year (2024)
- General government final consumption expenditure (current US$), per 0.2619 current US$ per US$ of GDP (2024)
- General government final consumption expenditure (current US$), per 506.36 current US$ per person (2024)
- General government final consumption expenditure (current LCU) -0.0889 % change on previous year (2024)
- General government final consumption expenditure (current LCU), per 2.21 current LCU per US$ of GDP (2024)
Frequently asked questions
- What is external balance on goods and services in Solomon Islands?
- External balance on goods and services in Solomon Islands was -30.2% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Solomon Islands?
- The highest recorded value was 3.8% in 1999.
- What is the lowest external balance on goods and services recorded in Solomon Islands?
- The lowest recorded value was -69.4% in 1989.
- How does Solomon Islands rank for external balance on goods and services?
- Solomon Islands ranks 170th out of 193 countries with data for 2024.
- Is external balance on goods and services rising or falling in Solomon Islands?
- Over the last ten years it is down 244.1%. The long-run trend across the full record is volatile.
- Where does this Solomon Islands data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. 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.