Domestic credit to private sector by banks in Solomon Islands
Solomon Islands: Domestic credit to private sector by banks was 21.5% in 2024. ▲ Rising
Domestic credit to private sector by banks in Solomon Islands, 1978–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Solomon Islands recorded 21.5% for domestic credit to private sector by banks in 2024.
Compared with earlier readings it is down 1.0% on the previous year and up 24.9% over ten years.
Over the whole period, domestic credit to private sector by banks in Solomon Islands peaked at 24.0% in 1989 and was at its lowest, 5.9%, in 1978.
Solomon Islands ranks 139th of 187 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 47 years of available data.
Domestic credit to private sector by banks in Solomon Islands, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1978 | 5.9% | — |
| 1979 | 10.0% | +70.8% |
| 1980 | 11.4% | +13.9% |
| 1981 | 12.7% | +11.0% |
| 1982 | 12.0% | -5.5% |
| 1983 | 9.9% | -17.6% |
| 1984 | 12.9% | +30.8% |
| 1985 | 19.2% | +48.7% |
| 1986 | 20.1% | +4.5% |
| 1987 | 17.8% | -11.5% |
| 1988 | 19.1% | +7.4% |
| 1989 | 24.0% | +25.7% |
| 1990 | 15.7% | -34.4% |
| 1991 | 12.8% | -18.5% |
| 1992 | 9.9% | -22.8% |
| 1993 | 9.6% | -2.6% |
| 1994 | 8.8% | -9.1% |
| 1995 | 8.3% | -5.0% |
| 1996 | 7.8% | -6.5% |
| 1997 | 8.0% | +2.4% |
| 1998 | 8.7% | +9.5% |
| 1999 | 8.8% | +1.3% |
| 2000 | 9.9% | +12.4% |
| 2001 | 8.0% | -19.6% |
| 2002 | 8.2% | +2.8% |
| 2003 | 7.5% | -8.1% |
| 2004 | 7.4% | -2.0% |
| 2005 | 9.9% | +34.1% |
| 2006 | 13.9% | +40.6% |
| 2007 | 18.9% | +35.6% |
| 2008 | 21.2% | +11.8% |
| 2009 | 18.8% | -11.1% |
| 2010 | 16.1% | -14.6% |
| 2011 | 15.0% | -6.8% |
| 2012 | 14.5% | -3.0% |
| 2013 | 15.5% | +6.8% |
| 2014 | 17.2% | +11.0% |
| 2015 | 19.1% | +11.1% |
| 2016 | 20.3% | +5.9% |
| 2017 | 20.4% | +0.6% |
| 2018 | 19.1% | -6.1% |
| 2019 | 19.7% | +2.9% |
| 2020 | 20.7% | +5.1% |
| 2021 | 20.8% | +0.3% |
| 2022 | 21.9% | +5.4% |
| 2023 | 21.7% | -0.8% |
| 2024 | 21.5% | -1.0% |
Solomon Islands compared with similar countries
- Solomon Islands's 21.5% is below the median for lower middle income countries, which is 23.4%, 92% of the median. (46 countries reporting)
- Solomon Islands's 21.5% is below the median for East Asia & Pacific, which is 65.2%, 33% of the median. (26 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 8.0% | 5.9% | 10.0% | 2 |
| 1980s | 15.9% | 9.9% | 24.0% | 10 |
| 1990s | 9.9% | 7.8% | 15.7% | 10 |
| 2000s | 12.4% | 7.4% | 21.2% | 10 |
| 2010s | 17.7% | 14.5% | 20.4% | 10 |
| 2020s | 21.3% | 20.7% | 21.9% | 5 |
Countries ranked near Solomon Islands
- 136 Kyrgyzstan 22.2% compare
- 137 Romania 22.1% compare
- 138 Rwanda 22.0% compare
- 140 Lao People's Democratic Republic 20.9% compare
- 141 Syrian Arab Republic 20.7% compare
- 142 Mali 20.4% compare
More financial sector data for Solomon Islands
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0025 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 5.14 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0018 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 3.76 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0025 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 5.14 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is domestic credit to private sector by banks in Solomon Islands?
- Domestic credit to private sector by banks in Solomon Islands was 21.5% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest domestic credit to private sector by banks recorded in Solomon Islands?
- The highest recorded value was 24.0% in 1989.
- What is the lowest domestic credit to private sector by banks recorded in Solomon Islands?
- The lowest recorded value was 5.9% in 1978.
- How does Solomon Islands rank for domestic credit to private sector by banks?
- Solomon Islands ranks 139th out of 187 countries with data for 2024.
- Is domestic credit to private sector by banks rising or falling in Solomon Islands?
- Over the last ten years it is up 24.9%. The long-run trend across the full record is rising.
- Where does this Solomon Islands data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Domestic credit to private sector by banks (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 47 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Domestic credit to private sector by banks refers to financial resources provided to the private sector by other depository corporations (deposit taking corporations except central banks), such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.