Solomon Islands - Economic sectors



While a very high proportion of the population lives in rural areas, agriculture, fishing, and hunting have contributed only about one-third of GDP in recent years, and this proportion has declined slightly since the early 1980s. In terms of formal employment, agriculture made up only 21.8 percent of the 34,000-strong labor force in 1998, although the subsistence and village cash cropping sector employs large numbers who are not enumerated in these surveys. Industry has shown slight growth in recent years, and made up 17.4 percent of the formal labor force in 1998. The service economy, which includes everything from domestic labor to work by skilled professionals, is the dominant sector, contributing about 40 percent of GDP, and supplying 60.8 percent of the formal labor force in 1998. The economy was devastated by the civil conflict that lasted between June and October of 2000. In the wake of the war, many major companies closed and farmers had difficulties moving their products to market. Foreign aid has helped the country weather the economic difficulties.

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Feb 13, 2011 @ 4:16 pm
what are the major sectors of economic developmnent in Solomon Islands?

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