elephone:
(677) 23890
FAX:
(677) 23488
Flag:
divided diagonally by a thin yellow stripe from the lower hoist-side corner;
the upper triangle (hoist side) is blue with five white five-pointed stars
arranged in an X pattern; the lower triangle is green

*Solomon Islands, Economy

Overview:
About 90% of the population depend on subsistence agriculture, fishing, and
forestry for at least part of their livelihood. Agriculture, fishing, and
forestry contribute about 70% to GDP, with the fishing and forestry sectors
being important export earners. The service sector contributes about 25% to
GDP. Most manufactured goods and petroleum products must be imported. The
islands are rich in undeveloped mineral resources such as lead, zinc,
nickel, and gold. The economy suffered from a severe cyclone in mid-1986
that caused widespread damage to the infrastructure.
National product:
GDP - exchange rate conversion - $200 million (1990 est.)
National product real growth rate:
6% (1990 est.)
National product per capita:
$600 (1990 est.)
Inflation rate (consumer prices):
14.3% (1991)
Unemployment rate:
NA%
Budget:
revenues $48 million; expenditures $107 million, including capital
expenditures of $45 million (1991 est.)
Exports:
$74.2 million (f.o.b., 1991 est.)
commodities:
fish 46%, timber 31%, copra 5%, palm oil 5%
partners:
Japan 51%, UK 12%, Thailand 9%, Netherlands 8%, Australia 2%, US 2% (1985)
Imports:
$87.1 million (c.i.f., 1991 est.)
commodities:
plant and machinery 30%, fuel 19%, food 16%
partners:
Japan 36%, US 23%, Singapore 9%, UK 9%, NZ 9%, Australia 4%, Hong Kong 4%,
China 3% (1985)
External debt:
$128 million (1988 est.)
Industrial production:
growth rate 0% (1987); accounts for 5% of GDP
Electricity:
21,000 kW capacity; 39 million kWh produced, 115 kWh per capita (1990)
Industries:
copra, fish (tuna)
Agriculture:
including fishing and forestry, accounts for about 70% of GDP; mostly
subsistence farming; cash crops - cocoa, beans, coconuts, palm kernels,
timber; other products - rice, potatoes, vegetables, fruit, cattle, pigs;
not self-sufficient in food grains; 90% of the total fish catch of 44,500
metric tons was exported (1988)
Economic aid:
Western (non-US) countries, ODA and OOF bilateral commitments (1980-89),
$250 million
Currency:
1 Solomon Islands dollar (SI$) = 100 cents
Exchange rates:
Solomon Islands d