Solomon Islands: Economy | Asian Development Bank

Solomon Islands: Economy

Growth is still forecast to slow in 2017 from 3.2% in 2016, consistent with the forecast in the Asian Development Outlook 2017, as current growth drivers fade. In 2018, logging output is expected to decline further, but mining investment and exports are expected to increase, pushing up the growth projection. Construction on the Tina River Hydropower Project is also expected to boost investment and growth in 2018. Read more from Asian Development Outlook 2017 Update

Note: GDP growth rate forecasts for 2017 and 2018.


Economic forecasts for Pacific countries

Country 2017f 2018f
Cook Islands 5.0 5.0
Fiji 2.9 3.5
Kiribati -0.1 -0.5
Marshall Islands 3.6 2.1
Micronesia, Federated States of 2.7 2.8
Nauru 1.4 –7.2
Palau 2.0 4.5
Papua New Guinea -0.6 -0.3
Samoa 1.3 0.8
Solomon Islands 0.5 0.3
Timor-Leste 2.1 4.1
Tonga 2.7 2.7
Tuvalu 1.1 1.3
Vanuatu 2.0 1.5
Average 0.6 1.0
Country 2017f 2018f
Cook Islands –0.1 0.5
Fiji 3.5 2.5
Kiribati 2.0 2.0
Marshall Islands 0.5 1.0
Micronesia, Federated States of 1.5 2.0
Nauru 6.0 2.0
Palau 1.5 2.0
Papua New Guinea 7.5 7.5
Samoa 1.4 2.0
Solomon Islands 0.5 1.0
Timor-Leste 1.2 3.0
Tonga 2.5 2.5
Tuvalu 2.9 2.5
Vanuatu 2.8 3.3
Average 5.3 5.3
Country 2017f 2018f
Cook Islands 27.6 28.7
Fiji –4.2 –3.6
Kiribati –2.4 –3.0
Marshall Islands 5.0 7.0
Micronesia, Federated States of 4.5 4.5
Nauru 0.5 –1.8
Palau –12.0 –14.0
Papua New Guinea 7.7 6.7
Samoa –2.9 –4.2
Solomon Islands –6.0 –9.0
Timor-Leste –5.9 –36.4
Tonga –7.7 –10.0
Tuvalu –20.2 –24.4
Vanuatu –10.0 –9.5
Average 2.8 –0.8
Country 2015
Cook Islands 24,071
Fiji 4,830
Kiribati 3,390
Marshall Islands 4,770
Micronesia, Federated States of 3,560
Nauru 15,420
Palau 12,180
Papua New Guinea 2,199
Samoa 3,930
Solomon Islands 1,920
Timor-Leste 2,180
Tonga 4,280
Tuvalu 6,230
Vanuatu 3,282

f = forecast number.

Sources:
Asian Development Outlook 2017
Asian Development Outlook 2017 Update