Published: Monday, 21th October 2024
The Standard of living in United States is 3.39 times better as compared to Solomon Islands.
In this page, you will find side-by-side Standard of Living comparison between United States and Solomon Islands. We have created 53 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which country has a better standard of living between United States and Solomon Islands.
 Indicators  | United States  | Solomon Islands  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $28.781 trillion USD | $2.707 billion USD |
GDP Per Capita (2023)  | 85,373 USD | 2,252 USD |
GINI Ratio (2023)  | 0.42 | 0.37 |
Inflation on Consumer Prices (2023)  | 4.12 % annually | 5.89 % annually |
Central Government Debt (2023)  | 110.4 % of GDP | 15.4 % of GDP |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of United States is $28.781 trillion USD and that of Solomon Islands is $2.707 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
From the above data, we can say that a person living and working in United States contributes more to the country's economy compared to a person working in Solomon Islands.
Indicators | United States | Solomon Islands |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.927 | 0.562 |
Human Capital Index (HCI) (2024)  | 0.7 | 0.42 |
Literacy Rate (2023)  | 99% (15 years+ above age) | 76.6% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 76.4 years | 64.8 years |
Healthy Life Expectancy Ratio (2023)  | 63.9 years | 57.4 years |
Poverty Ratio (2023)  | Yet to Update | 12.7% of total Population |
Unemployment Rate (2023)  | 3.63% of total labor force | 1.54% of total labor force |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living.
From the above given statistics, we can see that the HDI of United States is [ 0.927 ] and the HDI of Solomon Islands is [ 0.562 ].
The data shows that the people living in United States has better income, life expectancy and education level compared to Solomon Islands.
Indicators | United States | Solomon Islands |
|---|---|---|
Gross National Expenditure (2023)  | 103.77 % of GDP | 114.28 % of GDP |
Total Health Expenditure (2023)  | 17.36 % of GDP | 4.76 % of GDP |
Research and Development Expenditure (2023)  | 3.46 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | 5.44 % of GDP | 7.48 % of GDP |
International Tourism Expenditure (2023)  | 48,837 million USD | 30.91 million USD |
Number of International Tourists Arrivals (2023)  | 45,037,000 | 4,400 |
Military Expenditure (2023)  | 3.45 % of GDP | Yet to Update |
The total Gross National Expenditure of United States is 103.77% of its GDP and the total Gross National Expenditure of Solomon Islands is 114.28% of its GDP.
From the above data, we can say that United States spends 1.10 times less of its GDP on Gross National Expenditure compared to Solomon Islands.
Indicators | United States | Solomon Islands |
|---|---|---|
Number of Doctors (2023)  | 36.1 (Per 10,000 People) | 1.91 (Per 10,000 People) |
Number of Nurses (2023)  | 131.5 (Per 10,000 People) | 21.4 (Per 10,000 People) |
Number of Pharmacists (2023)  | 10.45 (Per 10,000 People) | 1.18 (Per 10,000 People) |
Available Hospital Beds (2023)  | 2.87 (Per 1000 People) | 1.4 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | Yet to Update | 88.5 % of total Population |
United States has 18.90 times more Doctors compared to Solomon Islands (Per 10,000 People).
United States has 6.14 times more Nurses compared to Solomon Islands (Per 10,000 People).
Indicators | United States | Solomon Islands |
|---|---|---|
Agricultural Land (2023)  | 4,058,103.5 Sq Km | 1,200 Sq Km |
Forest Area (2023)  | 3,097,950 Sq Km | 25,222.4 Sq Km |
CO2 Emissions (2023)  | 0.2 kg per PPP $ of GDP | 0.12 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 76 % of total Population |
Access to Internet (2023)  | 91.75 % of total Population | 36.13 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 444.4 Billion cubic meters | Yet to Update |
100% of the total Population of United States has access to the electricity in their homes, whereas, in case of Solomon Islands, 76% of the total Population has access to electricity.
Indicators | United States | Solomon Islands |
|---|---|---|
Time Required to Start a Business (2023)  | 4.2 Days | 9 Days |
New Businesses Registered (2023)  | Yet to Update | 444 (New Businesses) |
New Businesses Registration Density (2023)  | Yet to Update | 1.19 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 1 % of GNI Per Capita | 27.4 % of GNI Per Capita |
It usually takes 4.2 days in United States and 9 days in Solomon Islands to register a new business legally and systematically.
Indicators | United States | Solomon Islands |
|---|---|---|
Imports of Goods and Services (2023)  | 15.41 % of GDP | 51.75 % of GDP |
Total Fuel Imports (2023)  | 8.41 % of Merchandise Imports | 16.85 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 175 USD | 740 USD |
Time to Import Border Compliance (2023)  | 1.5 Hours | 108 Hours |
Cost to Import Documentary Compliance (2023)  | 100 USD | 215 USD |
Time to Import Documentary Compliance (2023)  | 7.5 Hours | 36.5 Hours |
Indicators | United States | Solomon Islands |
|---|---|---|
Exports of Goods and Services (2023)  | 11.63 % of GDP | 26.29 % of GDP |
Total Fuel Exports (2023)  | 18.68 % of Merchandise Exports | 0.00001 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 175 USD | 630 USD |
Time to Export Border Compliance (2023)  | 1.5 Hours | 109.5 Hours |
Cost to Export Documentary Compliance (2023)  | 60 USD | 257 USD |
Time to Export Documentary Compliance (2023)  | 1.5 Hours | 60 Hours |
Indicators | United States | Solomon Islands |
|---|---|---|
Gross National Savings (2023)  | 18.16 % of GDP | 17.54 % of GDP |
Tax Revenue (2023)  | 12.18 % of GDP | 20.67 % of GDP |
Taxes on Exports (2023)  | Yet to Update | 12.32 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 1.82 % of Tax Revenue | 19.05 % of Tax Revenue |
Taxes on International Trade (2023)  | 2.03 % of Revenue | 27.55 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 175 Hours | 80 Hours |
Customs and Other Import Duties (2023)  | 3.26 % of Tax Revenue | 24.8 % of Tax Revenue |
The taxes charged by United States on international trade is 2.03% of the total revenue and the taxes charged by Solomon Islands on international trade is 27.55% of the total revenue.
The Taxes charged on International Trade by United States is 13.57 times less of its total revenue than of Solomon Islands.
We hope you enjoyed the detailed guide on the standard of living comparsion between United States and Solomon Islands.
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