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Economy of Eritrea vs Kenya compared: GDP & Debt

Updated on by Georank team

Eritrea has a GDP of $2.07B compared to $120B for Kenya, ranking 179/197 and 64/197 by economy size, respectively.

Eritrea has $3.54B in government debt (260.4% of GDP), compared to $81B (67.3% of GDP) in Kenya.

Eritrea vs Kenya GDP by year

Eritrea
Kenya
1x
Year GDP, current $
Eritrea Kenya
2024 - $120,339,557,906
2023 - $107,500,884,685
2022 - $114,448,978,153
2021 - $109,703,658,905
2020 - $100,657,505,751
2019 - $100,378,436,207
2018 - $92,202,979,985
2017 - $82,036,510,877
2016 - $74,815,144,164
2015 - $70,120,446,897
2014 - $68,285,796,514
2013 - $61,671,440,408
2012 - $56,396,704,672
2011 $2,065,001,626 $46,869,473,151
2010 $1,589,515,447 $45,405,615,064
2009 $1,856,695,551 $42,347,217,913
2008 $1,380,188,800 $35,895,153,328
2007 $1,317,974,491 $31,958,195,182
2006 $1,211,161,880 $25,825,512,284
2005 $1,098,424,686 $18,737,895,513
2004 $1,109,054,005 $16,095,337,094
2003 $870,248,268 $14,904,517,650
2002 $729,321,680 $13,147,736,899
2001 $752,371,689 $12,986,007,426
2000 $706,370,816 $12,705,350,098
1999 $688,918,537 $12,896,010,459
1998 $745,523,117 $14,093,998,844
1997 $686,490,090 $13,115,764,358
1996 $693,535,954 $12,045,865,396
1995 $578,015,625 $9,046,320,255
1994 $531,688,312 $7,148,148,564
1993 $467,872,715 $5,751,786,643
1992 $477,101,652 $8,209,120,763
1991 - $8,151,488,783
1990 - $8,572,359,038
1989 - $8,283,114,514
1988 - $8,355,380,879
1987 - $7,970,820,369
1986 - $7,239,126,568
1985 - $6,135,034,214
1984 - $6,191,437,070
1983 - $5,979,198,314
1982 - $6,431,579,357
1981 - $6,854,491,706
1980 - $7,265,315,820
1979 - $6,234,391,113
1978 - $5,303,735,111
1977 - $4,494,378,764
1976 - $3,474,542,392
1975 - $3,259,345,083
1974 - $2,969,958,812
1973 - $2,509,001,324
1972 - $2,107,279,157
1971 - $1,778,391,289
1970 - $1,603,447,359
1969 - $1,458,379,417
1968 - $1,353,295,459
1967 - $1,232,559,507
1966 - $1,164,519,674
1965 - $997,919,321
1964 - $998,759,334
1963 - $926,589,349
1962 - $868,111,401
1961 - $792,959,473
1960 - $791,265,459

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Eritrea vs Kenya by year

Eritrea
GDP per capita

GDP per capita, PPP
Kenya
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eritrea Kenya
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $2,132 $6,644
2023 - - $1,943 $6,317
2022 - - $2,110 $5,883
2021 - - $2,061 $5,339
2020 - - $1,928 $4,793
2019 - - $1,960 $4,687
2018 - - $1,836 $4,412
2017 - - $1,667 $4,177
2016 - - $1,554 $3,917
2015 - - $1,489 $3,678
2014 - - $1,483 $3,359
2013 - - $1,371 $3,106
2012 - - $1,285 $2,847
2011 $689 $1,742 $1,096 $2,750
2010 $540 $1,599 $1,092 $2,635
2009 $643 $1,577 $1,048 $2,480
2008 $490 $1,547 $916 $2,459
2007 $480 $1,727 $840 $2,481
2006 $448 $1,682 $700 $2,330
2005 $413 $1,674 $523 $2,189
2004 $427 $1,621 $464 $2,066
2003 $349 $1,621 $443 $1,975
2002 $305 $1,702 $403 $1,940
2001 $325 $1,684 $411 $1,961
2000 $314 $1,558 $415 $1,907
1999 $311 $1,597 $434 $1,910
1998 $342 $1,598 $488 $1,895
1997 $319 $1,573 $467 $1,865
1996 $326 $1,449 $441 $1,875
1995 $285.4 $1,369 $340 $1,818
1994 $277.8 $1,379 $276.4 $1,754
1993 $252.1 $1,149 $229 $1,723
1992 $265.2 $1,021 $337 $1,728
1991 - - $345 $1,756
1990 - - $374 $1,729
1989 - - $374 -
1988 - - $391 -
1987 - - $387 -
1986 - - $364 -
1985 - - $320 -
1984 - - $334 -
1983 - - $335 -
1982 - - $374 -
1981 - - $413 -
1980 - - $454 -
1979 - - $403 -
1978 - - $355 -
1977 - - $311 -
1976 - - $248.9 -
1975 - - $241.2 -
1974 - - $227.2 -
1973 - - $198.6 -
1972 - - $172.6 -
1971 - - $150.9 -
1970 - - $141 -
1969 - - $133.3 -
1968 - - $128.7 -
1967 - - $121.9 -
1966 - - $119.8 -
1965 - - $106.9 -
1964 - - $111.3 -
1963 - - $107.4 -
1962 - - $104.6 -
1961 - - $99.3 -
1960 - - $102.8 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Eritrea's GDP per capita is $689, ranking 188/197, compared to $2,132 in Kenya, ranking 154/197. Adjusted for purchasing power (GDP per capita PPP), Eritrea ranks 191st at $1,742, while Kenya ranks 149th at $6,644.

Economic indicators

Eritrea Kenya
Gross domestic product
$2.07B
2011
$120B
2024
GDP rank
179/197
2011
64/197
2024
GDP growth
8.68%
2010-2011
4.72%
2023-2024
GDP per capita
$689
2011
$2,132
2024
GDP per capita rank
188/197
2011
154/197
2024
GDP per capita, PPP
$1,742
2011
$6,644
2024
GDP per capita PPP rank
191/197
2011
149/197
2024
Government debt
$3.54B
2011
$81B
2024
Debt-to-GDP ratio
260.4%
2019
67.3%
2024
Government debt per person
$1,182
2011
$1,436
2024
Government debt per person rank
136/185
2011
133/185
2024
Average annual personal income after taxes
$1,129
2026
$3,229
2026
Market capitalization of domestic companies n/a
$15B
2024
Income share by richest 10% n/a
30.1%
2022
Income share by poorest 10% n/a
2.9%
2022
Government expenditure, % of GDP
31.3%
2019
23.3%
2024
Consumer prices inflation
1.3%
2018-2019
4.49%
2023-2024
Central bank interest rate n/a
9.25%
2025
Unemployment rate
5.8%
2017
5.44%
2022
Population
3700586
58955623

Spending and national debt comparison by year

Eritrea
Spending

Debt
Kenya
Spending

Debt
1x
Year % of GDP
Eritrea Kenya
Government spending Government debt Government spending Government debt
2024 - - 23.3% 67.3%
2023 - - 22.7% 73.4%
2022 - - 23.2% 67.8%
2021 - - 24% 68.2%
2020 - - 24.8% 68%
2019 31.3% 260.4% 24.4% 59.1%
2018 26.4% 267.1% 24.5% 56.4%
2017 42.5% 290.4% 25.2% 53.9%
2016 30.9% 251.2% 25.4% 50.4%
2015 31.1% 271.4% 23.8% 45.8%
2014 21.6% 204.5% 23.4% 41.3%
2013 32.7% 232.4% 23.2% 39.8%
2012 33.3% 171.6% 22.1% 37.6%
2011 32.3% 171.6% 20.1% 35.7%
2010 42.4% 201.8% 21.5% 36.7%
2009 44.9% 207.1% 20.3% 36%
2008 69.4% 259.7% 18.9% 34.3%
2007 51.2% 201.3% 18.1% 34.2%
2006 50.5% 199% 17.3% 37.1%
2005 76.6% 205.4% 16.2% 37.4%
2004 57.1% 193.5% 15.4% 40.8%
2003 58.1% 264% 16% 43.8%
2002 60.1% 243.4% 15.7% 42%
2001 59.5% 238.6% 14.9% 41.3%
2000 84.7% 219.1% 14.1% 43.1%
1999 106.1% - 13.7% 38.4%
1998 88% - 15.3% 38.5%
1997 60.1% - 15.6% 36%
1996 68.6% - 15.2% 40.5%
1995 81.2% - 17.3% 52.1%
1994 50.4% - 18.8% 57%
1993 67.2% - 18.9% 61.6%
1992 32.7% - 17.6% 41.2%
1991 - - 16.4% 43%
1990 - - 17.2% 37.6%
1989 - - 16.3% 33.4%
1988 - - 15.9% 33.9%
1987 - - 15.5% 36.3%
1986 - - 15.3% 31.3%
1985 - - 15.6% 28.8%
1984 - - 14.9% 25.6%
1983 - - 14.6% 26.1%
1982 - - 16.2% 26.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-02-20).

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

In 2024, Eritrea's government spending was $666M, accounting for 31.3% of its GDP, while Kenya spent $28B, or 23.3% of GDP.

Debt-to-GDP ratio is 260.4% in Eritrea and 67.3% in Kenya, ranking 2/185 and 64/185, respectively.

Government deficit by year

Deficit/surplus
Eritrea

Kenya
1x
Year Deficit/surplus, % of GDP
Eritrea Kenya
2024 - -5.77%
2023 - -5.71%
2022 - -6.06%
2021 - -7.2%
2020 - -8.13%
2019 2.72% -7.42%
2018 5.22% -6.94%
2017 -5.74% -7.4%
2016 -1.44% -7.47%
2015 -2.77% -6.68%
2014 -0.12% -5.75%
2013 -7.62% -5.25%
2012 -5.21% -5.29%
2011 -5.5% -3.64%
2010 -16.5% -3.67%
2009 -22.2% -3.12%
2008 -38% -1.95%
2007 -19.8% -0.95%
2006 -15.5% -0.43%
2005 -31% -0.19%
2004 -7.65% 0.5%
2003 6.23% -0.73%
2002 -13.3% -1.29%
2001 -9.62% -0.53%
2000 -25.4% 0.38%
1999 -59.7% 0.84%
1998 -40.3% -0.03%
1997 -5.65% -0.91%
1996 -18.4% -0.49%
1995 -22.9% -0.23%
1994 8.69% -4.14%
1993 4.22% -8.57%
1992 6.85% -8.28%
1991 - -6.56%
1990 - -3.28%
1989 - -2.39%
1988 - -1.97%
1987 - -2.27%
1986 - -2.98%
1985 - -3.05%
1984 - -2.55%
1983 - -2.17%
1982 - -3.07%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/eritrea/kenya | 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 Kenya's deficit of $1.71B, or 3.64% of GDP.

Over the past 20 years, Eritrea recorded a fiscal deficit in 16 of those years, while Kenya ran a deficit in 17 years. On average, Eritrea posted an annual deficit equal to 16.3% of GDP, compared to deficit of 1.87% of GDP for Kenya.

Inflation comparison by year

Inflation
Eritrea

Kenya
1x
Year Consumer prices inflation
Eritrea Kenya
2024 - 4.49%
2023 - 7.67%
2022 - 7.66%
2021 - 6.11%
2020 - 5.41%
2019 1.3% 5.24%
2018 -14.4% 4.69%
2017 -13.3% 8.01%
2016 -5.6% 6.3%
2015 28.5% 6.58%
2014 8.4% 6.88%
2013 6.3% 5.72%
2012 6% 9.38%
2011 5.9% 14%
2010 10.3% 3.96%
2009 33.9% 9.23%
2008 22.2% 26.2%
2007 9.4% 9.76%
2006 7.7% 14.5%
2005 12.5% 10.3%
2004 25.1% 11.6%
2003 22.7% 9.82%
2002 16.9% 1.96%
2001 14.6% 5.74%
2000 19.9% 9.98%
1999 8.4% 5.74%
1998 9.5% 6.72%
1997 3.7% 11.4%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (1997–2019, retrieved 2026-02-20).

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

Over the past 23 years, Eritrea has recorded an average annual inflation rate of 10.4%, compared with 8.86% in Kenya. In 2019, inflation was 1.3% in Eritrea and 4.49% in Kenya.

Top exports between countries

Eritrea
Export category Export value
Machinery & equipment $9K
Kenya
Export category Export value
Processed food, beverages & tobacco $2.77M
Raw agricultural goods $881K
Machinery & equipment $324K
Chemicals & pharma $111K
Wood & paper products $100K
Raw materials & minerals $82K
Textiles & consumer goods $10K
Metals $7K

Balance of trade

Eritrea Kenya
Current account balance
-$105M
2000
-$1.55B
2024
Current account balance ranking
89/190
2000
134/190
2024
Current account balance, % of GDP
-14.8%
2000
-1.29%
2024
Goods imports
$471M
2000
$22.2B
2024
Goods exports
$36.8M
2000
$12.5B
2024
Service imports
$28.5M
2000
$5.64B
2024
Service exports
$60.9M
2000
$8.04B
2024
Imports of goods and services, % of GDP
29.2%
2011
23.1%
2024
Exports of goods and services, % of GDP
18.2%
2011
17.1%
2024

Economic freedom indices

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

Eritrea Kenya
Economic freedom 39.6 55.5
Economic freedom ranking 188/197 128/197
Property rights 4.8 40.2
Government integrity 10.9 32.7
Judicial effectiveness 5.5 47
Tax burden 80.3 76.3
Government spending 62.3 84.1
Fiscal health 69 36.2
Business freedom 30.7 61.5
Labor freedom 43.4 56.5
Monetary freedom 80 75.1
Trade freedom 68.4 52
Investment freedom 0 55
Financial freedom 20 50

Economic freedom comparison by year

Eritrea
Kenya
1x
Year Economic freedom index
Eritrea Kenya
2026 39.6 55.5
2025 38.6 54.8
2024 39.5 53.6
2023 39.5 52.5
2022 39.7 52.6
2021 42.3 54.9
2020 38.5 55.3
2019 38.9 55.1
2018 41.7 54.7
2017 42.2 53.5
2016 42.7 57.5
2015 38.9 55.6
2014 38.5 57.1
2013 36.3 55.9
2012 36.2 57.5
2011 36.7 57.4
2010 35.3 57.5
2009 38.5 58.7
2008 - 59.3
2007 - 59.6
2006 - 59.7
2005 - 57.9
2004 - 57.7
2003 - 58.6
2002 - 58.2
2001 - 57.6
2000 - 59.7
1999 - 58.2
1998 - 58.4
1997 - 60.1
1996 - 56.4
1995 - 54.5

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Eritrea is 39.6, ranking 188/197, compared to 55.5 for Kenya, ranking 128/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eritrea Kenya
Services, % of GDP n/a
55.3%
2024
Industry, % of GDP
21.8%
2009
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
14.1%
2009
22.5%
2024
GNI, Atlas method
$1.94B
2011
$118B
2024
GNI per capita, PPP
$1,720
2011
$6,540
2024
Total reserves including gold
$192M
2019
$10.1B
2024
Total reserves ranking
170/177
2019
75/177
2024
Net foreign direct investment
-$27.9M
2000
-$45.8M
2024
Net inflows of foreign direct investment
-$27.9M
2024
$463M
2024
Net outflows of foreign direct investment
$0
2024
$418M
2024
Servicing debt to the IMF, % of GNI
1.07%
2011
4.79%
2024
Poverty at national poverty lines
50%
2020
39.8%
2022
Gross capital formation, % of GDP
12.6%
2011
16.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2003–2024, retrieved 2026-02-08)
  7. Central Intelligence Agency (CIA) (2017–2020, retrieved 2026-02-20)
  8. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  9. LivingCost (2026, retrieved 2025-10-14)

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.