Solomon Islands's services, value added (constant LCU) was 5.89 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 17.9% from 5 billion in 2014 (1.66% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 5.89 billion | 2024 |
| Five years earlier | 5.94 billion | 2019 |
| Ten years earlier | 5 billion | 2014 |
| Highest | 5.94 billion | 2019 |
| Lowest | 2.44 billion | 2003 |
| Average since 2015 | 5.68 billion | 2015–2024 |
| First recorded | 2.44 billion |
What the numbers say
In 2024, Solomon Islands' services, value added (constant LCU) rose 1.9% on 2023 (from 5.78 billion to 5.89 billion).
Across the 20 yearly changes before that (2004 to 2023), the average change was +4.5% and a typical year strayed about 5.2% from that (the standard deviation). This year's change was 0.5 standard deviations below 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 17.2% in 2013 and the biggest yearly fall was 3% in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 54.73 million a year. A straight line explains 48% 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.
How it compares
In 2024, Solomon Islands had the 19th highest value of the 26 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Solomon Islands in the 2024 ranking
- Bahamas, The — 15th of 26: 10.63 billion
- Suriname — 16th of 26: 9.69 billion
- Bermuda — 17th of 26: 6.42 billion
- Cayman Islands — 19th of 26: 4.57 billion
- Tajikistan — 20th of 26: 4.09 billion
- Turks and Caicos Islands — 21st of 26: 1.22 billion
What this measures
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 22 values
| Year | Services, value added (constant LCU) |
|---|---|
| 2024 | 5,890,376,300 |
| 2023 | 5,782,741,000 |
| 2022 | 5,685,811,700 |
| 2021 | 5,694,235,200 |
| 2020 | 5,768,599,200 |
| 2019 | 5,944,373,500 |
| 2018 | 5,825,412,800 |
| 2017 | 5,558,943,100 |
| 2016 | 5,493,838,000 |
| 2015 | 5,118,986,900 |
Services, value added (constant LCU) in nearby economies
- Australia — 1.8 trillion (2025)
- Brunei Darussalam — 8.07 billion (2025)
- Cambodia — 56.12 trillion (2025)
- China — 76.36 trillion (2025)
- Fiji — 7.17 billion (2025)
- Hong Kong SAR, China — 2.88 trillion (2025)
- Indonesia — 6,293.49 trillion (2025)
- Japan — 420.61 trillion (2024)
- Kiribati — 260.63 million (2024)
- Korea, Rep. — 1,347.27 trillion (2025)
- Lao PDR
More economic policy & debt data for Solomon Islands
- Grants, excluding technical cooperation (BoP, current US$) — US$191.86 million (2023)
- Technical cooperation grants (BoP, current US$) — US$23.39 million (2023)
- Net bilateral aid flows from DAC donors, Total (current US$) — US$175.09 million (2023)
- Net official development assistance and official aid received (current US$) — US$243.66 million (2023)
- Net official development assistance and official aid received (constant 2023 US$) — US$243.66 million (2023)
- Net official development assistance received (current US$) — US$243.66 million (2023)
- Net official development assistance received (constant 2023 US$) — US$243.66 million (2023)
- Net ODA received per capita (current US$)
Reading data like this
Questions people ask
- What is Solomon Islands's services, value added (constant LCU)?
- 5.89 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2003?
- It is up 141.02% from 2.44 billion in 2003 (4.28% a year on average, compounded). The highest value was 5.94 billion in 2019 and the lowest 2.44 billion in 2003.
- How does Solomon Islands rank?
- 19th highest of 26 economies with data for 2024.
- Is the latest change in services, value added (constant LCU) unusual for Solomon Islands?
- In 2024, Solomon Islands' services, value added (constant LCU) rose 1.9% on 2023 (from 5.78 billion to 5.89 billion). Across the 20 yearly changes before that (2004 to 2023), the average change was +4.5% and a typical year strayed about 5.2% from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator NV.SRV.TOTL.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) 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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