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Economy of Eritrea vs Israel compared: GDP & Debt

Updated on by Georank

Eritrea has a GDP of $2.07B compared to $611B for Israel, ranking 179/197 and 27/197 by economy size, respectively.

Eritrea has $3.54B in government debt (260.4% of GDP), compared to $418B (68.5% of GDP) in Israel.

Eritrea vs Israel GDP by year

Eritrea
Israel
1x
Year GDP, current $
Eritrea Israel
2025 - $610,777,842,874
2024 - $542,284,494,491
2023 - $513,393,395,492
2022 - $525,157,951,213
2021 - $489,735,019,666
2020 - $410,908,899,711
2019 - $399,207,771,082
2018 - $375,470,422,244
2017 - $357,360,816,857
2016 - $321,083,954,798
2015 - $302,841,190,258
2014 - $314,376,760,832
2013 - $298,045,324,736
2012 - $263,172,104,091
2011 $2,065,001,626 $267,739,352,609
2010 $1,589,515,447 $239,372,857,534
2009 $1,856,695,551 $213,112,649,594
2008 $1,380,188,800 $220,952,472,408
2007 $1,317,974,491 $184,448,882,452
2006 $1,211,161,880 $158,706,516,002
2005 $1,098,424,686 $147,346,035,831
2004 $1,109,054,005 $139,925,423,025
2003 $870,248,268 $131,278,887,815
2002 $729,321,680 $125,215,963,105
2001 $752,371,689 $134,889,159,474
2000 $706,370,816 $136,409,902,632
1999 $688,918,537 $121,329,240,042
1998 $745,523,117 $120,468,659,246
1997 $686,490,090 $119,389,303,067
1996 $693,535,954 $115,051,957,577
1995 $578,015,625 $105,432,315,611
1994 $531,688,312 $90,684,108,118
1993 $467,872,715 $79,806,598,120
1992 $477,101,652 $79,408,652,426
1991 - $70,954,941,681
1990 - $61,978,459,022
1989 - $52,411,116,588
1988 - $52,618,458,014
1987 - $43,022,977,765
1986 - $35,812,041,620
1985 - $28,887,898,639
1984 - $30,626,695,891
1983 - $32,655,591,256
1982 - $29,237,231,967
1981 - $26,865,420,933
1980 - $25,379,585,067
1979 - $22,595,788,591
1978 - $17,690,363,444
1977 - $18,245,847,441
1976 - $15,946,502,888
1975 - $16,131,806,290
1974 - $17,162,009,924
1973 - $11,895,229,181
1972 - $9,216,866,299
1971 - $7,048,191,876
1970 - $7,402,142,195
1969 - $6,293,966,357
1968 - $5,455,059,532
1967 - $4,759,447,914
1966 - $4,700,397,692
1965 - $4,326,412,951
1964 - $4,021,861,430
1963 - $3,533,767,055
1962 - $2,964,323,618
1961 - $3,706,297,903
1960 - $3,068,690,949

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/eritrea/israel | CC BY

GDP per capita in Eritrea vs Israel by year

Eritrea
GDP per capita

GDP per capita, PPP
Israel
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eritrea Israel
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 - - $60,337 -
2024 - - $54,217 $57,236
2023 - - $52,126 $55,171
2022 - - $54,947 $53,619
2021 - - $52,258 $46,162
2020 - - $44,591 $40,955
2019 - - $44,092 $41,325
2018 - - $42,269 $40,190
2017 - - $41,013 $39,471
2016 - - $37,571 $38,189
2015 - - $36,138 $35,871
2014 - - $38,265 $34,816
2013 - - $36,981 $34,827
2012 - - $33,269 $32,484
2011 $689 $1,742 $34,477 $31,314
2010 $540 $1,599 $31,399 $29,456
2009 $643 $1,577 $28,470 $28,087
2008 $490 $1,547 $30,231 $28,084
2007 $480 $1,727 $25,689 $28,307
2006 $448 $1,682 $22,500 $26,385
2005 $413 $1,674 $21,262 $25,701
2004 $427 $1,621 $20,550 $26,078
2003 $349 $1,621 $19,624 $24,702
2002 $305 $1,702 $19,059 $26,101
2001 $325 $1,684 $20,949 $25,806
2000 $314 $1,558 $21,690 $25,766
1999 $311 $1,597 $19,809 $23,415
1998 $342 $1,598 $20,176 $22,927
1997 $319 $1,573 $20,457 $22,279
1996 $326 $1,449 $20,213 $21,672
1995 $285.4 $1,369 $19,014 $20,642
1994 $277.8 $1,379 $16,796 $19,478
1993 $252.1 $1,149 $15,169 $18,218
1992 $265.2 $1,021 $15,500 $17,553
1991 - - $14,337 $16,486
1990 - - $13,300 $15,721
1989 - - $11,601 -
1988 - - $11,846 -
1987 - - $9,847 -
1986 - - $8,330 -
1985 - - $6,824 -
1984 - - $7,364 -
1983 - - $7,955 -
1982 - - $7,253 -
1981 - - $6,791 -
1980 - - $6,545 -
1979 - - $5,968 -
1978 - - $4,794 -
1977 - - $5,050 -
1976 - - $4,514 -
1975 - - $4,669 -
1974 - - $5,082 -
1973 - - $3,629 -
1972 - - $2,928 -
1971 - - $2,297 -
1970 - - $2,489 -
1969 - - $2,188 -
1968 - - $1,946 -
1967 - - $1,734 -
1966 - - $1,788 -
1965 - - $1,688 -
1964 - - $1,625 -
1963 - - $1,485 -
1962 - - $1,293 -
1961 - - $1,696 -
1960 - - $1,452 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/eritrea/israel | CC BY

Eritrea's GDP per capita is $689, ranking 189/197, compared to $60,337 in Israel, ranking 19/197. Adjusted for purchasing power (GDP per capita PPP), Eritrea ranks 191st at $1,742, while Israel ranks 36th at $57,236.

Economic indicators

Eritrea Israel
Gross domestic product
$2.07B
2011
$611B
2025
GDP rank
179/197
2011
27/197
2025
GDP growth
8.68%
2010-2011
2.93%
2024-2025
GDP per capita
$689
2011
$60,337
2025
GDP per capita rank
189/197
2011
19/197
2025
GDP per capita, PPP
$1,742
2011
$57,236
2024
GDP per capita PPP rank
191/197
2011
36/197
2024
Government debt
$3.54B
2011
$418B
2025
Debt-to-GDP ratio
260.4%
2019
68.5%
2025
Government debt per person
$1,182
2011
$41,338
2025
Government debt per person rank
137/185
2011
16/185
2025
Average annual personal income after taxes
$1,350
2026
$48,251
2026
Market capitalization of domestic companies n/a
$331B
2024
Number of millionaires n/a
195,000
2026
Number of billionaires n/a
42
2026
Income share by richest 10% n/a
27%
2022
Income share by poorest 10% n/a
1.8%
2022
Government expenditure, % of GDP
31.3%
2019
43.6%
2025
Consumer prices inflation
1.3%
2018-2019
3.04%
2024-2025
Central bank interest rate n/a
3.75%
2026
Unemployment rate
5.8%
2017
3%
2025
Population
3722489
10334048

Spending and national debt comparison by year

Eritrea
Spending

Debt
Israel
Spending

Debt
1x
Year % of GDP
Eritrea Israel
Government spending Government debt Government spending Government debt
2025 - - 43.6% 68.5%
2024 - - 43.7% 67.7%
2023 - - 39.6% 61.3%
2022 - - 36.9% 60.3%
2021 - - 40.1% 67.7%
2020 - - 44.8% 71.1%
2019 31.3% 260.4% 38.7% 59.3%
2018 26.4% 267.1% 39.2% 60.1%
2017 42.5% 290.4% 38.4% 59.8%
2016 30.9% 251.2% 37.9% 61.7%
2015 31.1% 271.4% 37.6% 62.8%
2014 21.6% 204.5% 38.3% 65.8%
2013 32.7% 232.4% 39.7% 66%
2012 33.3% 171.6% 39.6% 66.9%
2011 32.3% 171.6% 39.3% 67.2%
2010 42.4% 201.8% 39.7% 69%
2009 44.9% 207.1% 41.4% 72.6%
2008 69.4% 259.7% 41.2% 70.2%
2007 51.2% 201.3% 40.2% 70.8%
2006 50.5% 199% 41.6% 77.7%
2005 76.6% 205.4% 42.3% 85.2%
2004 57.1% 193.5% 43% 88.3%
2003 58.1% 264% 45.4% 89.7%
2002 60.1% 243.4% 50% 87.2%
2001 59.5% 238.6% 46.1% 81.1%
2000 84.7% 219.1% 43.4% 77.2%
1999 106.1% - 53.6% 94.8%
1998 88% - 55% 101%
1997 60.1% - 52.6% 99.3%
1996 68.6% - 53.2% 100.3%
1995 81.2% - 52.8% 102.3%
1994 50.4% - 41.7% 110.2%
1993 67.2% - 42.2% 118.3%
1992 32.7% - 44.1% 119.6%
1991 - - 34.4% 123.7%
1990 - - 46.8% 138.3%
1989 - - 47.5% 147.4%
1988 - - 46.5% 145.4%
1987 - - 52.8% 143.2%
1986 - - 55.7% 162.5%
1985 - - 65.2% 199%
1984 - - - 284%
1983 - - - 260.5%
1982 - - 69.7% -
1981 - - 71.8% -
1980 - - 69.4% 154.3%
1979 - - 70.1% 155.5%
1978 - - 62.2% 133.6%
1977 - - 69.1% 142%
1976 - - 66.3% 97.4%
1975 - - 62% 85.1%
1974 - - - 79.8%
1973 - - - 62.1%
1972 - - - 63.9%
1971 - - - -
1970 - - 41.6% -
1969 - - 41.1% -
1968 - - 39.4% -
1967 - - 33.9% -
1966 - - 29.6% -
1965 - - 27.8% -
1964 - - 28.2% -
1963 - - 26.9% -
1962 - - 27.7% -
1961 - - 30.3% -
1960 - - 30.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

GeoRank.org/economy/eritrea/israel | CC BY

In 2025, Eritrea's government spending was $666M, accounting for 31.3% of its GDP, while Israel spent $266B, or 43.6% of GDP.

Debt-to-GDP ratio is 260.4% in Eritrea and 68.5% in Israel, ranking 2/185 and 60/185, respectively.

Government deficit by year

Deficit/surplus
Eritrea

Israel
1x
Year Deficit/surplus, % of GDP
Eritrea Israel
2025 - -5.22%
2024 - -8.07%
2023 - -5.38%
2022 - 0.3%
2021 - -3.37%
2020 - -10.6%
2019 2.72% -3.79%
2018 5.22% -3.58%
2017 -5.74% -1.17%
2016 -1.44% -1.78%
2015 -2.77% -1.2%
2014 -0.12% -2.28%
2013 -7.62% -4.07%
2012 -5.21% -4.46%
2011 -5.5% -3.43%
2010 -16.5% -3.72%
2009 -22.2% -6.53%
2008 -38% -3.49%
2007 -19.8% -0.43%
2006 -15.5% -0.94%
2005 -31% -2.74%
2004 -7.65% -3.4%
2003 6.23% -5.03%
2002 -13.3% -8.21%
2001 -9.62% -4.06%
2000 -25.4% -0.8%
1999 -59.7% -6.26%
1998 -40.3% -7.99%
1997 -5.65% -4.84%
1996 -18.4% -5.97%
1995 -22.9% -4.28%
1994 8.69% -5.62%
1993 4.22% -5.62%
1992 6.85% -8%
1991 - -7.04%
1990 - -9.67%
1989 - -9.03%
1988 - -7.57%
1987 - -7.47%
1986 - -7.51%
1985 - -14.2%
1984 - -
1983 - -
1982 - -13.8%
1981 - -23.5%
1980 - -19.6%
1979 - -16.7%
1978 - -14.7%
1977 - -20.3%
1976 - -19.4%
1975 - -19.6%
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -16%
1969 - -15.3%
1968 - -11.7%
1967 - -7.68%
1966 - -4.35%
1965 - -2.72%
1964 - -3.65%
1963 - -4.41%
1962 - -4.09%
1961 - -5.86%
1960 - -6.62%
1959 - -7.23%
1958 - -8.31%
1957 - -7.17%
1956 - -9.3%
1955 - -4.3%
1954 - -7.84%
1953 - -8.32%
1952 - -7.19%
1951 - -8.13%
1950 - -10.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08).

GeoRank.org/economy/eritrea/israel | CC BY

In 2011, Eritrea's government deficit, the difference between spending and revenue, was $114M, equivalent to 5.5% of GDP. This compares to Israel's deficit of $9.18B, or 3.43% of GDP.

Over the past 20 years, Eritrea recorded a fiscal deficit in 16 of those years, while Israel ran a deficit in 20 years. On average, Eritrea posted an annual deficit equal to 16.3% of GDP, compared to deficit of 4.57% of GDP for Israel.

Inflation comparison by year

Inflation
Eritrea

Israel
1x
Year Consumer prices inflation
Eritrea Israel
2025 - 3.04%
2024 - 3.07%
2023 - 4.23%
2022 - 4.41%
2021 - 1.48%
2020 - -0.58%
2019 1.3% 0.82%
2018 -14.4% 0.81%
2017 -13.3% 0.25%
2016 -5.6% -0.54%
2015 28.5% -0.62%
2014 8.4% 0.47%
2013 6.3% 1.59%
2012 6% 1.68%
2011 5.9% 3.49%
2010 10.3% 2.7%
2009 33.9% 3.37%
2008 22.2% 4.53%
2007 9.4% 0.47%
2006 7.7% 2.05%
2005 12.5% 1.34%
2004 25.1% -0.42%
2003 22.7% 0.71%
2002 16.9% 5.8%
2001 14.6% 1.12%
2000 19.9% 1.03%
1999 8.4% 5.19%
1998 9.5% 5.49%
1997 3.7% 8.95%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | World Economic Outlook (1997–2019, retrieved 2026-07-08).

GeoRank.org/economy/eritrea/israel | CC BY

Over the past 23 years, Eritrea has recorded an average annual inflation rate of 10.4%, compared with 2.19% in Israel. In 2019, inflation was 1.3% in Eritrea and 3.04% in Israel.

Top exports between countries

Eritrea
Export category Export value
Raw agricultural goods $127K
Animal & marine products $16K
Israel
Export category Export value
Machinery & equipment $6K
Textiles & consumer goods $4K
Miscellaneous $1K

Balance of trade

Eritrea Israel
Current account balance
-$105M
2000
$8.53B
2025
Current account balance ranking
82/190
2000
26/190
2025
Current account balance, % of GDP
-14.8%
2000
+1.4%
2025
Goods imports
$471M
2000
$102B
2025
Goods exports
$36.8M
2000
$76.2B
2025
Service imports
$28.5M
2000
$53.2B
2025
Service exports
$60.9M
2000
$92.4B
2025
Imports of goods and services, % of GDP
29.2%
2011
25.4%
2025
Exports of goods and services, % of GDP
18.2%
2011
27.6%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Eritrea Israel
Economic freedom 39.6 68.4
Economic freedom ranking 188/197 47/197
Property rights 4.8 73.1
Government integrity 10.9 66.2
Judicial effectiveness 5.5 68.1
Tax burden 80.3 60.2
Government spending 62.3 52
Fiscal health 69 60.8
Business freedom 30.7 72.4
Labor freedom 43.4 56.8
Monetary freedom 80 78.2
Trade freedom 68.4 82.8
Investment freedom 0 70
Financial freedom 20 80

Economic freedom comparison by year

Eritrea
Israel
1x
Year Economic freedom index
Eritrea Israel
2026 39.6 68.4
2025 38.6 69.9
2024 39.5 70.1
2023 39.5 68.9
2022 39.7 68
2021 42.3 73.8
2020 38.5 74
2019 38.9 72.8
2018 41.7 72.2
2017 42.2 69.7
2016 42.7 70.7
2015 38.9 70.5
2014 38.5 68.4
2013 36.3 66.9
2012 36.2 67.8
2011 36.7 68.5
2010 35.3 67.7
2009 38.5 67.6
2008 - 66.3
2007 - 64.8
2006 - 64.4
2005 - 62.6
2004 - 61.4
2003 - 62.7
2002 - 66.9
2001 - 66.1
2000 - 65.5
1999 - 68.3
1998 - 68
1997 - 62.7
1996 - 62
1995 - 61.5

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/eritrea/israel | CC BY

The Economic Freedom Index for Eritrea is 39.6, ranking 188/197, compared to 68.4 for Israel, ranking 47/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eritrea Israel
Services, % of GDP n/a
72.8%
2024
Industry, % of GDP
21.8%
2009
17.2%
2024
Agriculture, forestry, and fishing, % of GDP
14.1%
2009
1.29%
2024
GNI, Atlas method
$1.94B
2011
$569B
2025
GNI per capita, PPP
$1,720
2011
$58,870
2025
Total reserves including gold
$192M
2019
$229B
2025
Total reserves ranking
170/177
2019
18/177
2025
Net foreign direct investment
-$27.9M
2000
-$11.8B
2025
Net inflows of foreign direct investment
-$27.9M
2024
$14.8B
2024
Net outflows of foreign direct investment
$0
2024
$9.92B
2024
Servicing debt to the IMF, % of GNI
1.07%
2011
n/a
Poverty at national poverty lines
50%
2020
22%
2020
Gross capital formation, % of GDP
12.6%
2011
24.3%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/eritrea/israel | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1992–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2003–2024, retrieved 2026-07-08)
  7. Central Intelligence Agency (CIA) (2017–2020, retrieved 2026-07-08)
  8. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  9. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.