Solomon Islands Economy 2001 - Flags, Maps, Economy, Geography, Climate, Natural Resources, Current Issues, International Agreements, Population, Social Statistics, Political System
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    Solomon Islands Economy 2001

      Economy - overview: The bulk of the population depends on agriculture, fishing, and forestry for at least part of their livelihood. Most manufactured goods and petroleum products must be imported. The islands are rich in undeveloped mineral resources such as lead, zinc, nickel, and gold. However, severe ethnic violence, the closing of key business enterprises, and an empty government treasury have led to a continuing economic downslide. Deliveries of crucial fuel supplies (including those for electrical generation) by tankers have become sporadic due to the government's inability to pay and attacks against ships. Telecommunications are threatened by the lack of technical and maintenance staff many of whom have left the country.

      GDP: purchasing power parity - $900 million (2000 est.)

      GDP - real growth rate: 1% (2000 est.)

      GDP - per capita: purchasing power parity - $2,000 (2000 est.)

      GDP - composition by sector:
      agriculture: 50%
      industry: 3.5%
      services: 46.5% (1995)

      Population below poverty line: NA%

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices): 10% (1999 est.)

      Labor force: 26,842

      Labor force - by occupation: agriculture NA%, industry NA%, services NA%

      Unemployment rate: NA%

      revenues: $147 million
      expenditures: $168 million, including capital expenditures of $NA (1997 est.)

      Industries: fish (tuna), mining, timber

      Industrial production growth rate: NA%

      Electricity - production: 30 million kWh (1999)

      Electricity - production by source:
      fossil fuel: 100%
      hydro: 0%
      nuclear: 0%
      other: 0% (1999)

      Electricity - consumption: 27.9 million kWh (1999)

      Electricity - exports: 0 kWh (1999)

      Electricity - imports: 0 kWh (1999)

      Agriculture - products: cocoa, beans, coconuts, palm kernels, rice, potatoes, vegetables, fruit; cattle, pigs; timber; fish

      Exports: $165 million (f.o.b., 1999 est.)

      Exports - commodities: timber, fish, palm oil, cocoa, copra

      Exports - partners: Japan 35.5%, other Asian countries 47.3% (1999)

      Imports: $152 million (f.o.b., 1999 est.)

      Imports - commodities: plant and equipment, manufactured goods, food and live animals, fuels, chemicals

      Imports - partners: Australia 38.5%, Singapore 15%, Japan 10.6%, NZ 6.2% (1999)

      Debt - external: $152.4 million (1998)

      Economic aid - recipient: $47 million (1999 est.), mainly from Japan, Australia, China, and NZ

      Currency: Solomon Islands dollar (SBD)

      Currency code: SBD

      Exchange rates: Solomon Islands dollars per US dollar - 5.0968 (November 2000), 5.0864 (2000), 4.8381 (1999), 4.8156 (1998), 3.7169 (1997), 3.5664 (1996)

      Fiscal year: calendar year

      NOTE: The information regarding Solomon Islands on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Solomon Islands Economy 2001 information contained here. All suggestions for corrections of any errors about Solomon Islands Economy 2001 should be addressed to the CIA.

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    >Revised 21-Dec-01
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