Eritrea/Economy

Economy of Eritrea

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

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GDP (USD)
$2.1B(2011)
GDP PPP (USD)
$5.2B(2011)
GDP per Capita (USD)
$689(2011)
GDP Growth (inflation-adjusted)
8.7%(2011)

Trade & Finance

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Exports (as share of GDP)
18.2%(2011)
Imports (as share of GDP)
29.2%(2011)
FDI Inflows (as share of GDP)
1.9%(2011)
Remittance Inflow (USD)
$0.0(2023)

Labor & Income

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Unemployment Rate
5.6%(2024)
Employment in Services
30.1%(2023)
GNI per Capita (USD)
$650(2011)

Energy & Environment

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Energy Use per Capita
290 kg oil eq.(2022)
Renewable Energy Consumption (%)
80.7%(2021)

Economic Snapshot Overview

A summary of key economic indicators for Eritrea

  • The economic architecture of Eritrea is substantial, anchored by a Gross Domestic Product (GDP) of approximately $2.07B
    2011
    . This places it as the 172nd largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $688.68
    2011
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $5.22B, reflecting the population's domestic purchasing power. The economy is experiencing robust expansion, with a high growth rate of 8.7%
    2011
    ,
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The nation runs a trade deficit, with exports at 18.2% of GDP and imports at 29.2%
    2011
    . Foreign Direct Investment (FDI) inflows are significant, constituting 1.89% of the economy
    2011
    . This performance positions the country 96th globally out of 186 nations, indicating its relative attractiveness to foreign capital.
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $650
    2011
    . Globally, this ranks the nation 181st out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is stable, with unemployment at 5.6%
    2024
    . The services sector is a primary driver of the labor market, accounting for 30.1% of total employment
    2023
    .
  • On the environment and energy front, energy consumption per capita is 289.548 kg of oil equivalent
    2022
    . The country is a leader in clean energy, with renewable sources making up 80.7% of total final energy consumption
    2021
    . Its commitment to clean energy places it 176th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.

Trade & Investment Profile

The economy is primarily driven by domestic demand, with limited exposure to global trade fluctuations but also fewer opportunities for export-led growth.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

A strong commitment to renewable energy positions the country as a leader in the green transition, potentially creating new economic advantages.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.