This chapter examines Small Island Developing State (SIDS) fragility with a specific focus on identifying risk indicators for the purposes of early warning. The chapter unfolds in six parts. Following this introduction, we examine current research themes on early warning and risk assessment. In the third part of the paper we assess the linkages, both theoretical and policy related, on vulnerability and state development. In the fourth and fifth parts of the chapter we present preliminary findings on SIDS and fragility drawing on the Country Indicators for Foreign Policy project (CIFP). In the sixth and final part of the chapter we draw some preliminary conclusions and identify areas for further research.