Monthly Economic Snapshot – Solomon Islands
September 23rd, 2020
The Central Bank of Solomon Islands (CBSI) has released its Economic Bulletin (MEB) for the month of August, 2020. View or download a copy here http://www.cbsi.com.sb/…/2020/09/MEB-August-2020.pdf
Update on the economy – Key monthly economic indicators continue to show subdued performance indicating the continuing nature of the COVID-19 shock. The Solomon Islands activity index also shows business activities are well below 2019 levels, as wholesale and retail trade, manufacturing, and other business activities are subdued, and the outlook is still very uncertain. Compounding some of the clear impacts of COVID-19 on industries like tourism, the country also experienced other major impacts in other sectors like fishing, where fish catch is only around 55 per cent of the volume of last year. As previously reported, the June 30th forecast of the Solomon Island economy to contract by around negative 4.3 per cent in 2020 still stands.
Information sourced through the Business Beat newsletter, Solomon Islands Chamber of Commerce.