Solomon Islands: New businesses registered (number)

Key figures

What the numbers say

In 2018, Solomon Islands' new businesses registered (number) rose 33.3% on 2017 (from 333 to 444).

Across the 11 yearly changes before that (2007 to 2017), the average change was +26.9% and a typical year strayed about 39% from that (the standard deviation). This year's change was 0.2 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 123.7% in 2010 and the biggest yearly fall was 15.6% in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2009 to 2018 the straight-line trend is upward, about 37.31 a year. A straight line explains 82% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

Closest to Solomon Islands in the 2018 ranking

• Tanzania — 3rd of 8: 5,276
• Afghanistan — 4th of 8: 4,274
• Tajikistan — 5th of 8: 831
• Vanuatu — 7th of 8: 258
• Kiribati — 8th of 8: 2

What this measures

New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.

Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.

All 13 values

New businesses registered (number) in nearby economies

• Australia — 316,561 (2024)
• Brunei Darussalam — 157 (2024)
• Cambodia — 5,138 (2024)
• China — 286,640 (2024)
• Fiji — 1,665 (2024)
• Hong Kong SAR, China — 145,053 (2024)
• Indonesia — 182,200 (2024)
• Japan — 41,946 (2024)
• Kiribati — 2 (2018)
• Korea, Rep. — 128,455 (2023)
• Lao PDR — 7,941 (2024)

More private sector & trade data for Solomon Islands

• Merchandise imports (current US$) — US$790 million (2025)
• Merchandise exports (current US$) — US$677 million (2025)
• Merchandise trade (% of GDP) — 83.85% (2025)
• Insurance and financial services (% of commercial service imports) — 4.19% (2024)
• Computer, communications and other services (% of commercial service imports) — 44.76% (2024)
• Commercial service imports (current US$) — US$219.27 million (2024)
• Transport services (% of commercial service imports) — 32.84% (2024)
• Commercial service exports (current US$) — US$122.73 million (2024)
• Merchandise imports from high-income economies (% of total merchandise imports)

Reading data like this

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Questions people ask

What is Solomon Islands's new businesses registered (number)?

444 in 2018, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 1,133% from 36 in 2006 (23.29% a year on average, compounded). The highest value was 444 in 2018 and the lowest 36 in 2006.

Is the latest change in new businesses registered (number) unusual for Solomon Islands?

In 2018, Solomon Islands' new businesses registered (number) rose 33.3% on 2017 (from 333 to 444). Across the 11 yearly changes before that (2007 to 2017), the average change was +26.9% and a typical year strayed about 39% from that (the standard deviation). This year's change was 0.2 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship.

Source

World Bank, World Development Indicators, indicator IC.BUS.NREG, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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