Eritrea ranked 179/197 by economy size with a GDP of $2.07B and 188/197 by GDP per capita at $689. Eritrea has $3.54B in government debt, with a debt-to-GDP ratio of 260.4%.
In 2025, Eritrea made up 0.002% of the world's economy, compared to 0.002% in 1992.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1992 | $477,101,652 | $1,154,926,146 | - |
| 1993 | $467,872,715 | $1,310,318,716 | -1.93% |
| 1994 | $531,688,312 | $1,588,386,838 | 13.6% |
| 1995 | $578,015,625 | $1,633,788,955 | 8.71% |
| 1996 | $693,535,954 | $1,785,058,837 | 20% |
| 1997 | $686,490,090 | $1,926,233,510 | -1.02% |
| 1998 | $745,523,117 | $1,960,377,600 | 8.6% |
| 1999 | $688,918,537 | $1,960,641,860 | -7.59% |
| 2000 | $706,370,816 | $1,899,038,769 | 2.53% |
| 2001 | $752,371,689 | $2,065,307,885 | 6.51% |
| 2002 | $729,321,680 | $2,127,379,251 | -3.06% |
| 2003 | $870,248,268 | $2,070,886,356 | 19.3% |
| 2004 | $1,109,054,005 | $2,100,950,150 | 27.4% |
| 2005 | $1,098,424,686 | $2,155,038,051 | -0.96% |
| 2006 | $1,211,161,880 | $2,134,151,054 | 10.3% |
| 2007 | $1,317,974,491 | $2,164,601,595 | 8.82% |
| 2008 | $1,380,188,800 | $1,952,837,971 | 4.72% |
| 2009 | $1,856,695,551 | $2,028,539,765 | 34.5% |
| 2010 | $1,589,515,447 | $2,073,049,789 | -14.4% |
| 2011 | $2,065,001,626 | $2,252,986,366 | 29.9% |
Economic Statistics of Eritrea
Eritrea
|
Rank | |
|---|---|---|
| Gross domestic product |
$2.07B
2011 |
179/197 |
| GDP growth |
29.9%
2010-2011 |
4/196 |
| GDP per capita |
$689
2011 |
188/197 |
| GDP per capita, PPP |
$1,742
2011 |
190/197 |
| Government debt |
$3.54B
2011 |
151/185 |
| Debt-to-GDP ratio |
260.4%
2019 |
1/185 |
| Government debt per person |
$1,182
2011 |
137/185 |
| Average annual personal income after taxes |
$1,342
2025 |
189/197 |
| Government expenditure, % of GDP |
31.3%
2019 |
90/195 |
| Consumer prices inflation |
1.3%
2018-2019 |
165/195 |
| Unemployment rate |
5.8%
2017 |
82/196 |
| Population |
3667774
|
131/197 |
Eritrea's GDP per capita
Eritrea has a GDP per capita of $689, ranking 188/197, a GDP per capita based on purchasing power parity (PPP) of $1,742, ranking 190/197, and a median annual after tax income of $1,342, ranking 189/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1992 | $265.2 | $1,021 |
| 1993 | $252.1 | $1,149 |
| 1994 | $277.8 | $1,379 |
| 1995 | $285.4 | $1,369 |
| 1996 | $326 | $1,449 |
| 1997 | $319 | $1,573 |
| 1998 | $342 | $1,598 |
| 1999 | $311 | $1,597 |
| 2000 | $314 | $1,558 |
| 2001 | $325 | $1,684 |
| 2002 | $305 | $1,702 |
| 2003 | $349 | $1,621 |
| 2004 | $427 | $1,621 |
| 2005 | $413 | $1,674 |
| 2006 | $448 | $1,682 |
| 2007 | $480 | $1,727 |
| 2008 | $490 | $1,547 |
| 2009 | $643 | $1,577 |
| 2010 | $540 | $1,599 |
| 2011 | $689 | $1,742 |
Eritrea's government spending, deficit, and chart
This chart shows Eritrea's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 28 years, Eritrea recorded a fiscal deficit in 22 years — average annual deficit equal to -12.2% of GDP. In 2011, government spending reached $666M (31.3% of GDP), with a surplus of +2.72%.
The national debt reached $3.54B, ranking 151st out of 185 countries by total size, with a debt-to-GDP ratio of 260.4%, ranking 1st.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 1992 | 32.7% | - | 6.85% |
| 1993 | 67.2% | - | 4.22% |
| 1994 | 50.4% | - | 8.69% |
| 1995 | 81.2% | - | -22.9% |
| 1996 | 68.6% | - | -18.4% |
| 1997 | 60.1% | - | -5.65% |
| 1998 | 88% | - | -40.3% |
| 1999 | 106.1% | - | -59.7% |
| 2000 | 84.7% | 219.1% | -25.4% |
| 2001 | 59.5% | 238.6% | -9.62% |
| 2002 | 60.1% | 243.4% | -13.3% |
| 2003 | 58.1% | 264% | 6.23% |
| 2004 | 57.1% | 193.5% | -7.65% |
| 2005 | 76.6% | 205.4% | -31% |
| 2006 | 50.5% | 199% | -15.5% |
| 2007 | 51.2% | 201.3% | -19.8% |
| 2008 | 69.4% | 259.7% | -38% |
| 2009 | 44.9% | 207.1% | -22.2% |
| 2010 | 42.4% | 201.8% | -16.5% |
| 2011 | 32.3% | 171.6% | -5.5% |
| 2012 | 33.3% | 171.6% | -5.21% |
| 2013 | 32.7% | 232.4% | -7.62% |
| 2014 | 21.6% | 204.5% | -0.12% |
| 2015 | 31.1% | 271.4% | -2.77% |
| 2016 | 30.9% | 251.2% | -1.44% |
| 2017 | 42.5% | 290.4% | -5.74% |
| 2018 | 26.4% | 267.1% | 5.22% |
| 2019 | 31.3% | 260.4% | 2.72% |
Inflation rate by year
Over the past 20 years, Eritrea has had an average annual inflation rate of 10.9%. In 2019, inflation was 1.3%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1993 | 4.8% |
| 1994 | 13.1% |
| 1995 | 12% |
| 1996 | 10.3% |
| 1997 | 3.7% |
| 1998 | 9.5% |
| 1999 | 8.4% |
| 2000 | 19.9% |
| 2001 | 14.6% |
| 2002 | 16.9% |
| 2003 | 22.7% |
| 2004 | 25.1% |
| 2005 | 12.5% |
| 2006 | 7.7% |
| 2007 | 9.4% |
| 2008 | 22.2% |
| 2009 | 33.9% |
| 2010 | 10.3% |
| 2011 | 5.9% |
| 2012 | 6% |
| 2013 | 6.3% |
| 2014 | 8.4% |
| 2015 | 28.5% |
| 2016 | -5.6% |
| 2017 | -13.3% |
| 2018 | -14.4% |
| 2019 | 1.3% |
Balance of trade
|
Eritrea
|
Rank | |
|---|---|---|
Current account balance
|
-$105M
2000 |
87/189 |
| Current account balance, % of GDP |
-14.8%
2000 |
169/189 |
| Goods imports |
$471M
2000 |
171/188 |
| Goods exports |
$36.8M
2000 |
179/188 |
| Service imports |
$28.5M
2000 |
188/188 |
| Service exports |
$60.9M
2000 |
177/188 |
| Imports of goods and services, % of GDP |
29.2%
2011 |
134/180 |
| Exports of goods and services, % of GDP |
18.2%
2011 |
155/193 |
Eritrea's top 10 trading partners
Eritrea's biggest trading partner accounting for 15.9%% of all exports and imports is the United States, with a trade balance between the two of -$68.9M — Eritrea exports $85K worth of goods and services to the United States and imports $69M.
Below is the list of the top 10 trade partners of Eritrea.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
United States
|
$69M | 15.9% | $85K | $69M | Textiles & consumer goods | Raw agricultural goods |
| 2 |
UAE
|
$53M | 12.2% | $23K | $53M | Metals | Machinery & equipment |
| 3 |
Italy
|
$50.9M | 11.7% | $769K | $50.1M | Animal & marine products | Machinery & equipment |
| 4 |
Saudi Arabia
|
$45.5M | 10.5% | $46K | $45.5M | Animal & marine products | Machinery & equipment |
| 5 |
India
|
$27.6M | 6.34% | $478K | $27.1M | Textiles & consumer goods | Raw agricultural goods |
| 6 |
Turkey
|
$17.6M | 4.05% | $63K | $17.6M | Raw agricultural goods | Raw agricultural goods |
| 7 |
Djibouti
|
$12M | 2.77% | $41K | $12M | Textiles & consumer goods | Raw agricultural goods |
| 8 |
China
|
$11.9M | 2.74% | $49K | $11.9M | Raw agricultural goods | Textiles & consumer goods |
| 9 |
United Kingdom
|
$11.9M | 2.74% | $175K | $11.8M | Animal & marine products | Processed food, beverages & tobacco |
| 10 |
Netherlands
|
$11.2M | 2.56% | $689K | $10.5M | Animal & marine products | Machinery & equipment |
Eritrea's top 10 exports
|
Eritrea
|
Rank | |
|---|---|---|
| Animal & marine products | $3.22M | 166/192 |
| Raw agricultural goods | $1.37M | 176/193 |
| Textiles & consumer goods | $709K | 173/193 |
| Machinery & equipment | $655K | 183/193 |
| Raw materials & minerals | $197K | 178/193 |
| Processed food, beverages & tobacco | $184K | 188/192 |
| Metals | $174K | 187/192 |
| Chemicals & pharma | $88K | 186/193 |
| Miscellaneous | $19K | 171/191 |
| Wood & paper products | $5K | 187/192 |
Eritrea's top 10 imports
|
Eritrea
|
Rank | |
|---|---|---|
| Raw agricultural goods | $134M | 157/193 |
| Machinery & equipment | $112M | 178/193 |
| Processed food, beverages & tobacco | $60.1M | 178/193 |
| Textiles & consumer goods | $30.4M | 179/193 |
| Chemicals & pharma | $25.5M | 184/193 |
| Raw materials & minerals | $24.9M | 187/193 |
| Metals | $24.8M | 179/193 |
| Wood & paper products | $14.8M | 180/193 |
| Animal & marine products | $4.67M | 191/193 |
| Miscellaneous | $1.69M | 183/193 |
Economic freedom indices
|
Eritrea
|
Rank | |
|---|---|---|
| Economic freedom | 38.6 | 188/197 |
| Property rights | 6.1 | 177/182 |
| Government integrity | 14.5 | 177/182 |
| Judicial effectiveness | 3.8 | 177/182 |
| Tax burden | 80.3 | 83/181 |
| Government spending | 62.3 | 120/180 |
| Fiscal health | 69 | 95/181 |
| Business freedom | 31.3 | 174/182 |
| Labor freedom | 43.4 | 169/182 |
| Monetary freedom | 63.9 | 148/180 |
| Trade freedom | 68.4 | 109/181 |
| Investment freedom | 0 | 178/181 |
| Financial freedom | 20 | 161/181 |
Eritrea's economic freedom by year
Eritrea is ranked 173/180 for economic freedom with a score of 38.6, compared to 173/178 and a score of 38.5 in 2009.
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2009 | 38.5 | - | 86.4 | 9.9 | - |
| 2010 | 35.3 | - | 73 | 6.9 | - |
| 2011 | 36.7 | - | 73 | 31.5 | - |
| 2012 | 36.2 | - | 57 | 46.8 | - |
| 2013 | 36.3 | - | 57 | 54.6 | - |
| 2014 | 38.5 | - | 57 | 66.1 | - |
| 2015 | 38.9 | - | 57 | 71.8 | - |
| 2016 | 42.7 | - | 80.9 | 73.4 | - |
| 2017 | 42.2 | 10.3 | 81.3 | 74.7 | 0 |
| 2018 | 41.7 | 13.8 | 79.9 | 75.6 | 0 |
| 2019 | 38.9 | 18.1 | 81.4 | 73.9 | 0 |
| 2020 | 38.5 | 14.3 | 81.4 | 74.7 | 0 |
| 2021 | 42.3 | 15.4 | 74 | 64.3 | 78.1 |
| 2022 | 39.7 | 3.9 | 72.7 | 68.6 | 79 |
| 2023 | 39.5 | 12 | 80.3 | 62.3 | 69 |
| 2024 | 39.5 | 4.6 | 80.3 | 62.3 | 69 |
| 2025 | 38.6 | 3.8 | 80.3 | 62.3 | 69 |
More economic indicators
|
Eritrea
|
Rank | |
|---|---|---|
| Industry, % of GDP |
21.8%
2009 |
120/194 |
| Agriculture, forestry, and fishing, % of GDP |
14.1%
2009 |
56/193 |
|
GNI, Atlas method
|
$1.94B
2011 |
178/194 |
| GNI per capita, PPP |
$1,720
2011 |
185/191 |
| Total reserves including gold |
$192M
2019 |
170/177 |
|
Net foreign direct investment
|
-$27.9M
2000 |
56/188 |
|
Net inflows of foreign direct investment
|
-$27.9M
2024 |
176/193 |
|
Net outflows of foreign direct investment
|
-$27.9M
2000 |
172/187 |
|
Servicing debt to the IMF, % of GNI
|
1.07%
2011 |
109/119 |
| Poverty at national poverty lines |
50%
2020 |
24/176 |
|
Gross capital formation, % of GDP
|
12.6%
2011 |
166/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Eritrea topic pages:
Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.