Remittance inflows to GDP in Solomon Islands
Solomon Islands: Remittance inflows to GDP was 1.8% in 2020. ▲ Rising
Remittance inflows to GDP in Solomon Islands, 1999–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
The most recent figure for remittance inflows to gdp in Solomon Islands is 1.8%, measured in 2020.
Compared with earlier readings it is up 9.7% on the previous year and up 5.5% over ten years.
Over the whole period, remittance inflows to gdp in Solomon Islands peaked at 2.2% in 2004 and was at its lowest, 0.5%, in 1999.
Solomon Islands ranks 107th of 196 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 22 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.5% | 0.5% | 0.5% | 1 |
| 2000s | 1.5% | 0.9% | 2.2% | 10 |
| 2010s | 1.5% | 1.1% | 1.7% | 10 |
| 2020s | 1.8% | 1.8% | 1.8% | 1 |
Countries ranked near Solomon Islands
- 104 Malta 1.9% compare
- 105 Sudan 1.8% compare
- 106 São Tomé and Príncipe, Democratic Republic of 1.8% compare
- 108 Malawi 1.8% compare
- 109 Czech Republic 1.7% compare
- 110 Estonia, Republic of 1.7% compare
More financial sector data for Solomon Islands
- Net domestic credit (current LCU), per capita 2,921 current LCU per person (2024)
- Net domestic credit (current LCU), per unit of GDP 1.51 current LCU per US$ of GDP (2024)
- Net domestic credit (current LCU), annual growth rate 6.66 % change on previous year (2024)
- Domestic credit to private sector by banks 21.5% (2024)
- Total reserves in months of imports 8.9 (2024)
- Net domestic credit 2.39 billion current LCU (2024)
- Net foreign assets 5.65 billion current LCU (2024)
- Monetary Sector credit to private sector 21.7% (2024)
- Broad money 47.8% (2024)
- Claims on central government, etc. 0.8% (2024)
Frequently asked questions
- What is remittance inflows to gdp in Solomon Islands?
- Remittance inflows to gdp in Solomon Islands was 1.8% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Solomon Islands?
- The highest recorded value was 2.2% in 2004.
- What is the lowest remittance inflows to gdp recorded in Solomon Islands?
- The lowest recorded value was 0.5% in 1999.
- How does Solomon Islands rank for remittance inflows to gdp?
- Solomon Islands ranks 107th out of 196 countries with data for 2020.
- Is remittance inflows to gdp rising or falling in Solomon Islands?
- Over the last ten years it is up 5.5%. The long-run trend across the full record is rising.
- Where does this Solomon Islands data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.