National Accounts: Gross Domestic Product for Solomon Islands
SLBNGDPDUSD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,008,365,802.00
Year-over-Year Change
62.92%
Date Range
1/1/2016 - 1/1/2024
Summary
The National Accounts: Gross Domestic Product for Solomon Islands measures the total value of goods and services produced in the Solomon Islands economy. It is a key indicator used by economists and policymakers to assess economic performance 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
This GDP series represents the monetary value of all final goods and services produced within the Solomon Islands during a specific time period. It is a comprehensive measure of a country's overall economic activity and is widely used to analyze economic trends, make policy decisions, and compare economic performance across countries.
Methodology
The data is collected and calculated by the Solomon Islands National Statistics Office using standard national accounting principles.
Historical Context
GDP is a critical metric for assessing the health and growth trajectory of the Solomon Islands economy, informing macroeconomic policy and investment decisions.
Key Facts
- Solomon Islands GDP was $1.66 billion in 2021.
- GDP per capita in Solomon Islands was $2,280 in 2021.
- The Solomon Islands economy grew by 3.0% in 2021.
FAQs
Q: What does this economic trend measure?
A: The National Accounts: Gross Domestic Product for Solomon Islands measures the total value of goods and services produced in the Solomon Islands economy during a specific time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator of a country's overall economic performance and growth, providing insights that inform macroeconomic policy, investment decisions, and comparisons across economies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Solomon Islands National Statistics Office using standard national accounting principles.
Q: How is this trend used in economic policy?
A: GDP is a critical metric for assessing the health and growth trajectory of the Solomon Islands economy, informing macroeconomic policy and investment decisions.
Q: Are there update delays or limitations?
A: There may be occasional delays in the release of GDP data, and the methodology and coverage may vary across countries, limiting direct comparisons.
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Citation
U.S. Federal Reserve, National Accounts: Gross Domestic Product for Solomon Islands (SLBNGDPDUSD), retrieved from FRED.