Market Research In Solomon Islands

Solomon Islands Profile:

  • The Solomon Islands is a sovereign country consisting of six major islands and over 900 smaller islands in Oceania lying to the east of Papua New Guinea and northwest of Vanuatu.
  • The islands are rich in undeveloped mineral resources such as lead, zinc, nickel, and gold.
  • Solomon Islands is a member of the United Nations, Interpol, Commonwealth, Pacific Islands Forum, South Pacific Commission, International Monetary Fund, and the European Union/African, Caribbean, and Pacific (ACP) countries (EEC/ACP).
  • The Solomon Islands ranks as a lesser developed nation, RAMSI’s efforts to restore law and order and economic stability have led to modest growth as the economy rebuilds

Solomon Islands Economy:

  • Solomon Islands’ per-capita GDP of $600 ranks it as a lesser developed nation, and more than 75% of its labor force is engaged in subsistence and fishing.
  • Other important cash crops and exports include copra and palm oil. Tourism, particularly diving, is an important service industry for the Solomon Islands. Tourism growth is hampered by lack of infrastructure and transportation limitations.
  • The bulk of the population depends on agriculture, fishing, and forestry for at least part of its livelihood.
  • The arrival of The Regional Assistance Mission to the Solomon Islands (RAMSI), severe ethnic violence, the closure of key businesses, and an empty government treasury culminated in economic collapse

Solomon Islands Facts:

  • Population: 647,581
  • Capital: Honiara
  • Largest city: Honiara
  • Area: 28,896 sq km
  • Major language: Melanesian pidgin, English (official), 120 indigenous languages
  • Major religion: Protestant 73.4%, Roman Catholic 19.6%, other Christian 2.9%, other 4%
  • Life expectancy: 72.9 years (Male), 78.3 years (Female)
  • Monetary unit: 1 Solomon Islands Dollar (SI$, SBD) = 100 Cents
  • Main exports: Timber, fish, copra, palm oil, cocoa
  • GNI per Capita: $2,150

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