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Country Details

Home Countries Country Details

SOLOMON ISLANDS
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The Solomon Islands is a sovereign country consisting of six major islands and over 900 smaller islands in Oceania lying to the east of Papua New Guinea and northwest of Vanuatu and covering a land area of 28,400 square kilometers (11,000 sq mi). The country's capital, Honiara, is located on the island of Guadalcanal. The country takes its name from the Solomon Islands archipelago, which is a collection of Melanesian islands that also includes the North Solomon Islands (part of Papua New Guinea) but excludes outlying islands, such as Rennell and Bellona, and the Santa Cruz Islands.

Facts About Solomon Islands

  • The country is made up of nearly one thousand islands, which together cover an area of approximately 28,400 square kilometers (10,965 sq miles).
  • The world’s largest saltwater lagoon – Marovo Lagoon is situated in New Georgia, Solomon Islands.
  • Education is not compulsory, and many schools charge fees.

  • Finance Industry
  • Industries
  • Top Companies
  • GDP-Composition by sector
  • Main Products
  • Stock Exchange
  • Economical Crisis
  • Country History
  • Currency History

The financial sector in the Solomon Islands is relatively small and under-developed. There are three commercial banks: ANZ, Westpac and the National Bank of the Solomon Islands, which was sold to the Bank of South Pacific of Papua New Guinea in 2007. As a result, all the banks in the country are currently foreign owned (2012).

Agriculture cocoa, coconuts, palm kernels, rice, potatoes, vegetables, fruit; cattle, pigs; fish; timber
Manufacture Copra, and mining
For More Details Go To 8 Industries + 1

Agriculture 37.7%
Industry 6.4%
Services (Including financial) 55.9% (2011 est.)

Company Industry
No Information

Top Exports
Copra
Cocoa
Oil
Fish
Timber

Top Imports
Chemicals
Fuels
Manufactured goods
Plant and equipment
Food

There is no stock exchange in Solomon Island


  • :

Global Crisis

Solomon Islands had walked down the aisle of democracy as an independent country some thirty three years ago. Although in most instances it got tripped over itself, perhaps she has learned that one has to suffer when she walks down the road of democracy in pursuit of economic independence, economic growth and development and improving the livelihood of all Solomon Islanders. What the country needs now is to work toward advancement in terms of economic development and a well-established democracy supported by a government with a clear designated role to help minimize the effect of the global financial crisis, prepare for the threat of climate change and ensure all citizens are able to benefit from all essential basic services. This is what most people in Solomon Islanders refer to as: " Government of the People, By the People and For the People"

The islands have been inhabited for thousands of years. In 1568, the Spanish navigator Álvaro de Mendaña was the first European to visit them, naming them the Islas Salomón.[4] Britain defined its area of interest in the Solomon Islands archipelago in June 1893, when Captain Gibson R.N., of HMS  Curacoa, declared the southern Solomon Islands as a British protectorate.[5] During World War II, the Solomon Islands campaign (1942–1945) saw fierce fighting between the United States and the Empire of Japan, such as in the Battle of Guadalcanal.

The official name of the then British overseas territory was changed from "the British Solomon Islands Protectorate" to "Solomon Islands" in 1975. Self-government was achieved in 1976; independence was obtained two years later. Today, Solomon Islands is a constitutional monarchy with the Queen of Solomon Islands, currently Queen Elizabeth II, as its head of state. Manasseh Sogavare is the current prime minister.

Famous People

Gordon Darcy

(Primer Minister)

coins

When Solomon Islands fell under the control of Imperial Japan during the Second World War, the Oceanian pound, a so-called "Japanese Invasion Currency", became the official currency until after the war ended and the Pound was restored. In 1966 the Australian dollar replaced the pound and was circulated in the Solomon Islands until 1976, shortly before independence. The Solomon Islands dollar was introduced in 1977, replacing the Australian dollar at par, following independence. Until 1979, the two dollars remained equal, then for five months the SI$ was pegged at SI$1.05 = A$1, and later floated. Economic stagnation ensued, so over the next 28 years, and especially during the civil war of 2000–2003, inflationary pressure reduced the Solomon Islands dollar to be worth 15 Australian cents. In 2008, due to the low valuation in the currency, many Islanders took to hoarding coins and giving them to children as souvenirs, causing a coin shortage.

coins

Some more traditional monetary forms, such as dolphin teeth, have in a few areas taken the place of coins. A public awareness campaign was launched to encourage people to cash in excess coins at the bank to help alleviate the shortfall.

solomon islands

Statistics

National Song"God Save Our Solomon Islands"
CurrencySolomon Islands dollar (SBD)
LanguagesMelanesian pidgin,English
Population0.601 Millions
GDP / GDP Rank1.185 Billion USD
GDP Growth Rate3.3 Percent
GDP Per Captial$1972.582 (PPP)
Size28,896 km²
Inflation0.437 Percent
Time Zone

UTC+11:00

Interest Rate8.90%
Religion

97.4% Christians

< 1.0% Muslims

< 1.0% Hindus

< 1.0% Buddhists

< 1.0% Jews

< 1.0% Other Religions

Ethnic Group

Melanesian 94.5%

Polynesian 3%

Micronesian 1.2%

Other 1.1%

Government

Constitutional Monarchy

Queen – Elizabeth II[γ]

Prime Minister – Rick Houenipwela

WebsiteGo to the web
Driving SideLEFT
Public Debt9.043 Percent
Import$0.267 Billion
Export$0.319 Billion
Unemployment Rate31.426 Percent
Labor Force202500
Labor Force (Occupation)-
Culture-

Map


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