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Eritrea GDP and Economic Data

Country Report 2017 - Includes Eritrea real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Eritrea economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Eritrea best banks and safest banks are also available.

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Central bank

Bank of Eritrea

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International Reserves

N/A

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Gross Domestic Product - GDP

USD 6.7 billion (2018, estimate)

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GDP (Purchasing Power Parity)

Intl$ 10.0 billion (2018, estimate)

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Real GDP growth
2007* 2008* 2009* 2010* 2011* 2012* 2013*
1.4% -9.8% 3.9% 2.2% 8.7% 7% 4.7%
2014* 2015* 2016* 2017* 2018*    
2.9% 2.6% 1.9% 5% 4.2%    

*Estimate

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GDP per capita - current prices

USD 1,111.5 (2018, estimate)

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GDP per capita - PPP

Intl$ 1,656.5 (2018, estimate)

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GDP (PPP) - share of world total
1980 1990 2000 2010 2019*
N/A N/A 0.01% 0.01% 0.007%

*Estimate

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GDP - composition by sector
  • agriculture: 11.7% 
  • industry: 29.6% 
  • services: 58.7%

(2018 estimate)

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Gross domestic expenditure on R&D; (% of GDP)

N/A

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Inflation
2015 2016 2017 2018* 2019*
28.5% -5.6% -13.3% -14.4% -27.6%

*Estimate

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Unemployment rate
2015 2016 2017 2018 2019
N/A N/A N/A N/A N/A

*Estimate

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Household saving rates

N/A

 

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Public debt (General government gross debt as a % of GDP)
2015 2016 2017 2018* 2019*
190.3% 170.1% 196.2% 174.3% 165.1%

*Estimate

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Public deficit (General government net lending/borrowing as a % of GDP)
2015 2016 2017 2018* 2019*
-3.2% 3.9% 1.8%

10.9%

 0.6%

*Estimate

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Government bond ratings

Standard & Poor's: N/A

Moody': N/A

Standard & Poor's / Moody's 

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Market value of publicly traded shares
2016 2017 2018
N/A N/A N/A
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Largest companies

N/A

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Current account balance

USD 0.3 billion (2018 estimate)

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Current account balance by percentage of GDP

16.6 % (2018 estimate)

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Exports as percent of GDP (Exports of goods and services)

14.4% (2011)

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Shares in world total merchandising export

0.003% (2018)

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Shares in world total commercial services export

N/A

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Total exports

N/A

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Export commodities

Gold and other minerals, livestock, sorghum, textiles, food, small industry manufactures

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Total imports

N/A

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Import commodities

Machinery, petroleum products, food, manufactured goods

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Exports - major partners

China 62%, South Korea 28.3% (2017)

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Imports - major partners

UAE 14.5%, China 13.2%, Saudi Arabia 13.2%, Italy 12.9%, Turkey 5.6%, South Africa 4.6%(2017)

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FDI inflows
2016 2017 2018
USD 52 million USD 55 million USD 61 million
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FDI outflows
2016 2017 2018
N/A N/A N/A
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Value of cross-border M&A, by country of purchaser
2015 2016 2017 2018
N/A N/A N/A N/A
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Cross-border M&A deals worth over $3 billion completed in 2014

N/A

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Cross-border M&A deals worth over $3 billion completed in 2015

N/A

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Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking:

189 out of 190 countries

​Subcategories:
Starting a Business: 185 out of 190 countries
Dealing with Construction Permits: 186 out of 190 countries
Getting Electricity: 187 out of 190 countries
Registering Property: 178 out of 190 countries
Getting Credit: 186 out of 190 countries
Protecting Minority Investors: 185 out of 190 countries
Paying Taxes: 153 out of 190 countries
Trading across Borders: 188 out of 190 countries
Enforcing Contracts: 107 out of 190 countries
Resolving Insolvency: 168 out of 190 countries

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Global competitiveness ranking

N/A

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Index of Economic Freedom

Ranking: 177 / Score: 38.9 (Repressed)

(100=totally free 0=totally repressed)

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Time zone

UTC+3

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Total area

117,600 sq km

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Capital

Asmara (Asmera)

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Currency

Nakfa (ERN)

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Government type

Presidential republic

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Languages

Tigrinya (official), Arabic (official), English (official), Tigre, Kunama, Afar, other Cushitic languages

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Religions

Sunni Muslim, Coptic Christian, Roman Catholic, Protestant

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Total population
1990 2000 2010* 2015* 2020*
N/A 3.87 million 5.1 million 5.7 million 6.27 million

*Estimate

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Urban population as % of total population
1960 1980 2000 2018
9.8% 14.4% 26.6% N/A
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Population median age

19.9 years 

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Population growth rate

0.89% (2018 estimate)

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Life expectancy

65.6 years (2018 estimate)

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Literacy

Total population: 73.8% 
Male: 82.4% 
Female: 65.5%
Definition: age 15 and over can read and write (2015 est.)

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% of population living on less than $3.10 a day

N/A

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Inequality of wealth distribution (Gini index)

N/A

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Freedom House rating

Not Free
Political Rights: 7
Civil Liberties: 7 (2019)
(1 represents the most free, 7 the least free rating)

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Total telephone subscribers as % of population

Fixed: 1.9%

Mobile: 20.4%

(2017)

(fixed-telephone subscribers and mobile-cellular subscribers)

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Internet users as % of total population

1.31 % (2017)

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Mercer Cost of living index

N/A

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CO2 emissions

0.18 metric tons per capita (2011)

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