Eritrea Economic Statistics and Indicators

19, Jan 2021, EST. Welcome to the Eritrea economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Eritrea › Change country
National or Regional Currency: Nakfa, ERN
Year of data: 2015 › Change year
Number of Indicators Listed: 34
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 6,380,803 (July 2014 est.)
Area: total: 117,600 sq km ; land: 101,000 sq km ; water: 16,600 sq km
Natural Resources: gold, potash, zinc, copper, salt, possibly oil and natural gas, fish
Capital: name: Asmara (Asmera) ; geographic coordinates: 15 20 N, 38 56 E ; time difference: UTC+3 (8 hours ahead of Washington, DC, during Standard Time)

Since formal independence from Ethiopia in 1993, Eritrea has faced many economic problems, including lack of resources and chronic drought, which have been exacerbated by restrictive economic policies. Eritrea has a command economy under the control of the sole political party, the People's Front for Democracy and Justice (PFDJ). Like the economies of many African nations, a large share of the population - nearly 80% - is engaged in subsistence agriculture, but the sector only produces a small share of the country's total output. Since the conclusion of the Ethiopian-Eritrea war in 2000, the government has expanded use of military and party-owned businesses to complete President ISAIAS's development agenda. The government has strictly controled the use of foreign currency by limiting access and availability; new regulations in 2013 have slightly relaxed currently controls. Few large private enterprises exist in Eritrea and most operate in conjunction with government partners, including a number of large international mining ventures that have recently begun production. While reliable statistics on food security are difficult to obtain, erratic rainfall and the percentage of the labor force tied up in national service continue to interfere with agricultural production and economic development. Eritrea's harvests generally cannot meet the food needs of the country without supplemental grain purchases. Copper, potash, and gold production is likely to drive economic growth over the next few years, but military spending will continue to compete with development and investment plans. Eritrea's economic future will depend on market reform, international sanctions, global food prices, and success at addressing social problems such as illiteracy and low skills.
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GDP (Constant Prices, National Currency) for Eritrea in year 2015 is ERN 21.409 Billion.

GDP Growth (Constant Prices, National Currency) for Eritrea in year 2015 is 4.775 %.

GDP (Current Prices, National Currency) for Eritrea in year 2015 is ERN 71.742 Billion.

GDP (Current Prices, US Dollars) for Eritrea in year 2015 is US$ 4.666 Billion.

GDP Deflator for Eritrea in year 2015 is 335.106 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Eritrea in year 2015 is ERN 3,187.60 .

GDP Per Capita (Current Prices, National Currency) for Eritrea in year 2015 is ERN 10,681.83 .

GDP Per Capita (Current Prices, US Dollars) for Eritrea in year 2015 is US$ 694.753 .

GDP (PPP), US Dollars for Eritrea in year 2015 is US$ 8.713 Billion.

GDP Per Capita (PPP), US Dollars for Eritrea in year 2015 is US$ 1,297.24 .

GDP Share of World Total (PPP) for Eritrea in year 2015 is 0.008 %.

Implied PPP Conversion Rate for Eritrea in year 2015 is 8.234 .

Investment (% of GDP) for Eritrea in year 2015 is 7.614 %.

Gross National Savings (% of GDP) for Eritrea in year 2015 is 1.329 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Eritrea in year 2015 is 726.104 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Eritrea in year 2015 is 9 %.

Inflation, End of Year (Indexed to Year 2000) for Eritrea in year 2015 is 758.638 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Eritrea in year 2015 is 9 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Eritrea in year 2015 is 0.809 %.

Import Volumes of Goods Only (Percent Change) for Eritrea in year 2015 is -1.255 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Eritrea in year 2015 is -16.905 %.

Export Volumes of Goods Only (Percent Change) for Eritrea in year 2015 is -22.455 %.

Population for Eritrea in year 2015 is 6.716 Million .

General government revenue (National Currency) for Eritrea in year 2015 is ERN 10.243 Billions.

General government revenue (% of GDP) for Eritrea in year 2015 is 14.278 %.

General government total expenditure (National Currency) for Eritrea in year 2015 is ERN 20.444 Billions.

General government total expenditure (% of GDP) for Eritrea in year 2015 is 28.497 %.

Total Government Net Lending/ Borrowing (National Currency) for Eritrea in year 2015 is ERN -10.201 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Eritrea in year 2015 is -14.219 %.

Fiscal Year Gross Domestic Product, Current Prices for Eritrea in year 2015 is ERN 71.742 Billions.

Current Account Balance (US Dollars) for Eritrea in year 2015 is US$ -0.102 Billion.

Current Account Balance (% GDP) for Eritrea in year 2015 is -2.193 %.