The Solomon Islands National Statistics Office has released the new Gross Domestic Product (GDP) estimates for 2021 and 2022 through its Statistical Bulletin (1/2024) on Thursday 15th February 2024.
The bulletin presents the gross domestic product (GDP) estimates from 2005-2022 following from the previous bulletin, with new estimates for 2021 and 2022.
According to the report and restated by the Deputy Government Statistician Samson Kanamoli, “SINSO has decided not to make revisions to past estimates at this time. SINSO is also planning the implementation of the 2024/2025 Household Income and Expenditure Survey (HIES) and a National Enterprise Census in the third quarter of 2024. These exercises will establish new benchmarks for GDP and require substantial revisions to the time series.”
SINSO have decided to put through revisions to 2020 and past years arising from methodological improvements and the population census at this time.
Any methodological changes made for the current measures have been chained on to the 2020 levels to avoid distorting growth rates. Revisions tables are therefore omitted.
The compilation of the GDP estimates apply the production and expenditure approaches within the framework of the United Nations System of National Accounts.
Estimates are based on current and constant 2012 prices by economic activity and expenditure components.
ENDS.///