Economy of Eritrea
Population: 3.21 M (2011)
GDP per Capita: 811 USD (2011)
2,610 M.

GDP USD

(2011)

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370 M.

EXPORTS USD

(2011)

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600 M.

IMPORTS USD

(2011)

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174.31 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 8.68 % (2011)
GDP of 2010 USD USD 2.30 B. (2011)
GDP Current USD USD 2.61 B. (2011)
GDP per Capita Current USD USD 811 (2011)
GDP per capita, PPP USD 2,103 (2011)
GDP per Capita, 2010 USD USD 716 (2011)

Government spending and balances

Indicator Value
Government Spending % GDP 21.08 % (2011)
Government Spending USD 0.55 B. (2011)
Government Debt % GDP 174.31 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 88.11 (2018)
Trade Openness 37.53 % (2011)
Exports of Goods and Services % GDP 14.38 % (2011)
Exports Goods & Services USD 0.37 B. (2011)
Exports Annual Growth 233.07 % (2011)
Imports as % GDP 23.15 % (2011)
Total Imports USD 0.60 B. (2011)
Foreign Direct Investment % GDP 1.50 % (2011)
Foreign Direct Investment USD 0.06 B. (2018)
Current Account Balance % GDP USD % (2018)
Current Account Balance USD B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD B. (2018)
Foreign Exchange Reserves incl Gold USD 0.11 B. (2011)
Remittances % GDP 0.47 % (2000)
Remittances 0.47 % (2000)
Balance of Payments 0.47 % (2000)

Labor Market

Indicator Value
Labor Force 1.54 M. (2011)
Unemployment Rate 6.55 % (2019)
Unemployment Rate Females 4.95 % (2019)
Unemployment Rate Males 5.31 % (2019)
Youth Unemployment (ages 15-24) 11.57 % (2019)
Labor Force Participation Rate 80.55 % (2019)
Labor Force (Percent Female) 46.70 % (2011)
Female Labor Force Participation Rate 74.17 % (2019)
Male Labor Force Participation Rate 87.05 % (2019)
Dependent People 79.42 % (2011)

Agriculture Sector

Indicator Value
Forest Area 14.90 % (2016)
Forest Area km² 15,056 km² (2016)
Agricultural Land 75.17 % (2016)
Agricultural Land km² 75,920 km² (2016)
Employment 62.54 % (2019)
Value added % GDP 14.12 % (2009)
Agriculture Value added USD 0.26 B. (2009)
Crop Production Index 80.30 (2016)
Precipitation 384 mm (2014)
Arable Land 7 % (2016)
Cereal Yield 643 kg/hectare (2017)
Food production index 105 (2016)
Rural Population 64 % (2011)
Fertilizer use of Arable Land 3 kg/hectare (2016)
Livestock Production Index 123 (2016)
Economy of Eritrea

According to the World Bank and its latest published data, the economy of the Eritrea presents a growth rate of 8.68 % (2011) to the previous year.

With a population that reaches 3.21 M (2011) and a gross domestic product of USD 2.61 B. (2011), it translates a Gross Domestic Product per Capita of USD 811 placing its inhabitants on the threshold of an Low-income country (according to the World Bank's updated classification).

Eritrea also has a workforce of 1.54 M. (2011) with an unemployment rate of 6.55 % (2019), where women represent 4.95 % (2019) and men 5.31 % (2019), the unemployment rate for young people between 15-24 years old stood at 11.57 % (2019). The total number of dependent people stands at 79.42 % (2011).

The central government spent 21.08 % (2011) of its gross domestic product that year, which in absolute terms is USD 0.55 B. (2011). Its consolidated public debt reached 174.31 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Eritrea exported USD 0.37 B. (2011), which represents 14.38 % (2011) of its gross domestic product, in that same sense its imports reached USD 0.60 B. (2011) with a direct foreign investment of USD 0.06 B. (2018).

Eritrea has a forest area of 15,056 km² (2016), which represents 14.90 % (2016) of its total area, an average rainfall of 384 mm (2014) per year and a population of 64 % (2011) living in rural areas. With a total area of 75,920 km² (2016) available for agriculture and 62.54 % (2019) of its employments, the agricultural sector contributes to the economy of the Eritrea about USD 0.26 B. (2009) (14.12 % (2009) of its GDP).