Insurance and financial services in Solomon Islands
Solomon Islands: Insurance and financial services was 0.9% in 2024. ◆ Volatile
Insurance and financial services in Solomon Islands, 1993–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
The most recent figure for insurance and financial services in Solomon Islands is 0.9%, measured in 2024.
The figure is down 4.7% on the previous year and up 1,446.3% over ten years.
Over the whole period, insurance and financial services in Solomon Islands peaked at 48.5% in 2000 and was at its lowest, 0.0%, in 2018.
That places Solomon Islands 146th out of 190 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Solomon Islands, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1993 | 1.1% | — |
| 1994 | 0.4% | -61.7% |
| 1995 | 0.2% | -42.4% |
| 1996 | 0.8% | +238.7% |
| 1997 | 0.1% | -90.1% |
| 1998 | 22.0% | +26210.3% |
| 1999 | 38.1% | +72.7% |
| 2000 | 48.5% | +27.3% |
| 2001 | 38.1% | -21.4% |
| 2002 | 18.0% | -52.7% |
| 2003 | 4.3% | -76.3% |
| 2004 | 5.0% | +17.0% |
| 2005 | 2.0% | -60.6% |
| 2006 | 3.3% | +66.0% |
| 2007 | 2.4% | -27.0% |
| 2008 | 4.5% | +86.9% |
| 2009 | 9.8% | +119.9% |
| 2010 | 9.3% | -5.7% |
| 2011 | 8.9% | -3.8% |
| 2012 | 7.5% | -16.0% |
| 2013 | 0.4% | -94.4% |
| 2014 | 0.1% | -85.6% |
| 2015 | 1.1% | +1809.8% |
| 2016 | 1.1% | -4.9% |
| 2017 | 0.5% | -58.2% |
| 2018 | 0.0% | -92.6% |
| 2019 | 0.9% | +2729.6% |
| 2020 | 5.2% | +451.6% |
| 2021 | 3.0% | -43.0% |
| 2022 | 4.1% | +39.2% |
| 2023 | 1.0% | -76.5% |
| 2024 | 0.9% | -4.7% |
Solomon Islands compared with similar countries
- Solomon Islands's 0.9% is below the median for lower middle income countries, which is 1.8%, 53% of the median. (46 countries reporting)
- Solomon Islands's 0.9% is below the median for East Asia & Pacific, which is 1.4%, 65% of the median. (29 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Solomon Islands changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1998 | +26210.3% | 0.1% | 22.0% |
| 2019 | +2729.6% | 0.0% | 0.9% |
| 2015 | +1809.8% | 0.1% | 1.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 9.0% | 0.1% | 38.1% | 7 |
| 2000s | 13.6% | 2.0% | 48.5% | 10 |
| 2010s | 3.0% | 0.0% | 9.3% | 10 |
| 2020s | 2.9% | 0.9% | 5.2% | 5 |
Countries ranked near Solomon Islands
- 143 French Polynesia 1.0% compare
- 144 Belarus 1.0% compare
- 145 Tanzania, United Republic of 0.9% compare
- 147 Nicaragua 0.9% compare
- 148 Nepal 0.9% compare
- 149 Faroe Islands 0.8% compare
More private sector data for Solomon Islands
- Merchandise trade 83.8% (2025)
- Food imports 22.2% (2018)
- Manufactures imports 59.9% (2018)
- Merchandise imports 790.00 million current US$ (2025)
- Food exports 20.1% (2018)
- Manufactures exports 2.2% (2018)
- Merchandise exports 677.00 million current US$ (2025)
- Merchandise exports (current US$), per capita 807.25 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.387 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 33.53 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Solomon Islands?
- Insurance and financial services in Solomon Islands was 0.9% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Solomon Islands?
- The highest recorded value was 48.5% in 2000.
- What is the lowest insurance and financial services recorded in Solomon Islands?
- The lowest recorded value was 0.0% in 2018.
- How does Solomon Islands rank for insurance and financial services?
- Solomon Islands ranks 146th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Solomon Islands?
- Over the last ten years it is up 1,446.3%. The long-run trend across the full record is volatile.
- Where does this Solomon Islands data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of commercial service exports). Statizoid updates them automatically from the source API.
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About this data
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service exports which are commercial services provided by residents to non-residents.