Key Market Indicators
The Solomon Islands' lighting export industry has seen a significant decline, dropping nearly 60% from approximately $113,000 in 2022 to close to $47,000 in 2023. This marks a 58.4% decrease compared to the previous year. The downward trend isn't new; since 2018, Solomon Islander lighting exports have been falling by an average of 30.4% each year. On the import side, the future looks more positive. The Solomon Islands' lighting import market is projected to reach roughly $334,000 by 2028, up from around $309,000 in 2023. This represents an annual growth rate of 1.2% CAGR (Compound Annual Growth Rate). Historically, since 2014, the demand for lighting imports in the Solomon Islands has increased by an average of 4.7% each year.
