Eritrea: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Low Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Nearly 80% of Eritrea's population works in subsistence farming. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Data unavailable |
| Top Industries Source: CIA World Factbook | Food Processing; Beverages; Clothing and Textiles; Light Manufacturing |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $7,813,576,690 (2014) |
| GDP Growth Rate (annual %) | 1.703% (2014) |
| GDP Per Capita, PPP (current international) | $1,529 (2014) |
GDP Country Rank 163/197 (2014)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | Data unavailable |
| External debt stocks, total (DOD, current US$) | $744,742,728 (2021) |
| Total tax rate (% of commercial profits) | 83.7% (2019) |
| Real Interest Rate (5 year average %) | Data unavailable |
| Manufacturing, value added (% of GDP) | 5.493% (2009) |
| Current Account Balance (BoP, current US$) | ($104,657,012) (2000) |
Labor and Employment [1]
| Labor Force, Total | 1,738,165 (2022) |
| Employment in Agriculture (% of total employment) | 62.42% (2021) |
| Employment in Industry (% of total employment) | 8.623% (2021) |
| Employment in Services (% of total employment) | 28.957% (2021) |
| Unemployment Rate | 6.618% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $701,541,184 (2012) |
| Exports of goods and services (current US$) | $603,937,953 (2012) |
| Total Merchandise Trade (% of GDP) | 71.088% (2022) |
| FDI, net inflows (BoP, current US$) | ($32,045,670) (2022) |
| Commercial Service Exports (current US$) | $54,117,988 (2000) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Eritrea’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.