Gross Domestic Product for Solomon Islands
MKTGDPSBA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,760,767,447.17
Year-over-Year Change
48.56%
Date Range
1/1/1967 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Solomon Islands measures the total value of all goods and services produced within the country. It is a key indicator of economic activity and growth.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP is the broadest measure of a country's economic output and is widely used by economists and policymakers to assess the overall health and performance of a national economy.
Methodology
The GDP data for Solomon Islands is collected and calculated by the World Bank based on national accounts information.
Historical Context
Policymakers use GDP to inform decisions on fiscal, monetary, and development policies.
Key Facts
- Solomon Islands is a Pacific Island country.
- GDP growth in Solomon Islands averaged 3.4% from 2010-2019.
- The GDP of Solomon Islands was $1.5 billion in 2020.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Solomon Islands measures the total value of all goods and services produced within the country over a given time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a widely used indicator of economic performance and growth, providing important insights for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The GDP data for Solomon Islands is collected and calculated by the World Bank based on national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers use GDP data to inform decisions on fiscal, monetary, and development policies aimed at promoting economic growth and stability.
Q: Are there update delays or limitations?
A: The GDP data for Solomon Islands may have some update delays due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Solomon Islands (MKTGDPSBA646NWDB), retrieved from FRED.