Skip to content

Economy of Eritrea vs Lesotho compared: GDP & Debt

Updated on by Georank team

Eritrea has a GDP of $2.07B compared to $2.27B for Lesotho, ranking 179/197 and 174/197 by economy size, respectively.

Eritrea has $3.54B in government debt (260.4% of GDP), compared to $1.36B (59.7% of GDP) in Lesotho.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Eritrea
GDP, current $

GDP, constant 2015 $
Lesotho
GDP, current $

GDP, constant 2015 $
Year GDP
Eritrea Lesotho
Current $ Constant $ Current $ Constant $
1960 - - $34,579,986 $193,508,327
1961 - - $35,699,986 $197,116,861
1962 - - $41,859,983 $227,338,452
1963 - - $47,039,981 $251,470,588
1964 - - $51,939,979 $272,219,723
1965 - - $54,879,978 $278,083,623
1966 - - $56,699,977 $276,955,935
1967 - - $59,261,976 $307,177,537
1968 - - $61,445,975 $306,049,827
1969 - - $65,967,974 $310,786,060
1970 - - $68,739,973 $317,552,094
1971 - - $76,480,285 $333,790,811
1972 - - $80,913,200 $333,114,189
1973 - - $121,188,716 $421,072,595
1974 - - $150,851,317 $467,306,740
1975 - - $149,558,896 $404,157,255
1976 - - $147,660,037 $448,813,113
1977 - - $193,315,048 $546,694,921
1978 - - $266,570,067 $646,832,346
1979 - - $290,134,593 $665,551,149
1980 - - $431,542,537 $647,283,239
1981 - - $434,188,034 $651,779,515
1982 - - $348,741,684 $680,830,657
1983 - - $386,699,309 $694,353,080
1984 - - $333,163,670 $732,784,813
1985 - - $268,629,926 $751,912,324
1986 - - $318,858,423 $787,138,334
1987 - - $402,768,324 $792,882,304
1988 - - $470,395,801 $861,085,399
1989 - - $495,409,233 $910,987,402
1990 - - $596,410,264 $966,060,902
1991 - - $704,325,367 $1,033,362,572
1992 $477,101,652 $1,154,926,146 $831,029,862 $1,105,247,043
1993 $467,872,715 $1,310,318,716 $835,582,062 $1,144,038,630
1994 $531,688,312 $1,588,386,838 $878,250,945 $1,212,450,693
1995 $578,015,625 $1,633,788,955 $1,001,894,000 $1,252,351,696
1996 $693,535,954 $1,785,058,837 $946,112,493 $1,322,446,272
1997 $686,490,090 $1,926,233,510 $998,004,259 $1,371,424,437
1998 $745,523,117 $1,960,377,600 $928,460,893 $1,392,512,226
1999 $688,918,537 $1,960,641,860 $912,773,681 $1,399,140,933
2000 $706,370,816 $1,899,038,769 $887,291,688 $1,453,365,294
2001 $752,371,689 $2,065,307,885 $825,706,961 $1,505,128,088
2002 $729,321,680 $2,127,379,251 $775,777,239 $1,516,022,748
2003 $870,248,268 $2,070,886,356 $1,157,825,435 $1,585,150,007
2004 $1,109,054,005 $2,100,950,150 $1,511,236,656 $1,611,976,677
2005 $1,098,424,686 $2,155,038,051 $1,682,343,527 $1,667,849,759
2006 $1,211,161,880 $2,134,151,054 $1,800,092,564 $1,738,401,392
2007 $1,317,974,491 $2,164,601,595 $1,682,131,785 $1,811,204,149
2008 $1,380,188,800 $1,952,837,971 $1,766,902,709 $1,911,244,555
2009 $1,856,695,551 $2,028,539,765 $1,740,894,965 $1,887,282,177
2010 $1,589,515,447 $2,073,049,789 $2,234,754,242 $1,986,735,735
2011 $2,065,001,626 $2,252,986,366 $2,579,409,620 $2,078,451,680
2012 - - $2,477,702,216 $2,210,102,550
2013 - - $2,367,112,932 $2,249,719,203
2014 - - $2,441,063,054 $2,288,201,773
2015 - - $2,359,686,725 $2,359,686,725
2016 - - $2,114,426,452 $2,444,845,631
2017 - - $2,306,741,672 $2,368,122,099
2018 - - $2,556,247,292 $2,333,058,898
2019 - - $2,390,702,296 $2,299,976,266
2020 - - $2,053,699,870 $2,112,391,150
2021 - - $2,412,130,022 $2,160,272,945
2022 - - $2,354,980,884 $2,211,855,515
2023 - - $2,117,962,430 $2,252,257,826
2024 - - $2,271,541,846 $2,314,470,552

Economic indicators

Eritrea Lesotho
Gross domestic product
$2.07B
2011
$2.27B
2024
GDP rank
179/197
2011
174/197
2024
GDP growth
29.9%
2010-2011
7.25%
2023-2024
GDP per capita
$689
2011
$972
2024
GDP per capita rank
188/197
2011
180/197
2024
GDP per capita, PPP
$1,742
2011
$2,998
2024
Government debt
$3.54B
2011
$1.36B
2024
Debt-to-GDP ratio
260.4%
2019
59.7%
2025
Government debt per person
$1,182
2011
$581
2024
Government debt per person rank
137/185
2011
160/185
2024
Average annual personal income after taxes
$1,342
2025
$7,614
2025
Income share by richest 10% n/a
32.9%
2017
Income share by poorest 10% n/a
1.7%
2017
Government expenditure, % of GDP
31.3%
2019
52.4%
2025
Consumer prices inflation
1.3%
2018-2019
6.11%
2023-2024
Central bank interest rate n/a
6.75%
2025
Unemployment rate
5.8%
2017
18.7%
2024
Population
3667774
2384217

GDP per capita in Eritrea vs Lesotho

Eritrea's GDP per capita is $689, ranking 188/197, compared to $972 in Lesotho, ranking 180/197. Adjusted for purchasing power (GDP per capita PPP), Eritrea ranks 190th at $1,742, while Lesotho ranks 180th at $2,998.

Eritrea
GDP per capita

GDP per capita, PPP
Lesotho
GDP per capita

GDP per capita, PPP
Year Current $
Eritrea Lesotho
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $47 -
1961 - - $47 -
1962 - - $53.5 -
1963 - - $58.4 -
1964 - - $62.6 -
1965 - - $64.3 -
1966 - - $64.3 -
1967 - - $64.8 -
1968 - - $64.8 -
1969 - - $67.1 -
1970 - - $67.4 -
1971 - - $72.4 -
1972 - - $74 -
1973 - - $107 -
1974 - - $128.7 -
1975 - - $123.2 -
1976 - - $117.8 -
1977 - - $149.9 -
1978 - - $200.8 -
1979 - - $212.4 -
1980 - - $307 -
1981 - - $299.8 -
1982 - - $233.9 -
1983 - - $252 -
1984 - - $211 -
1985 - - $165.4 -
1986 - - $191.4 -
1987 - - $236.5 -
1988 - - $270.4 -
1989 - - $279 -
1990 - - $330 $764
1991 - - $382 $830
1992 $265.2 $1,021 $444 $893
1993 $252.1 $1,149 $439 $932
1994 $277.8 $1,379 $456 $995
1995 $285.4 $1,369 $513 $1,037
1996 $326 $1,449 $480 $1,103
1997 $319 $1,573 $502 $1,154
1998 $342 $1,598 $465 $1,179
1999 $311 $1,597 $456 $1,199
2000 $314 $1,558 $443 $1,273
2001 $325 $1,684 $413 $1,350
2002 $305 $1,702 $389 $1,385
2003 $349 $1,621 $583 $1,484
2004 $427 $1,621 $767 $1,561
2005 $413 $1,674 $861 $1,681
2006 $448 $1,682 $925 $1,813
2007 $480 $1,727 $861 $1,932
2008 $490 $1,547 $898 $2,064
2009 $643 $1,577 $879 $2,036
2010 $540 $1,599 $1,119 $2,153
2011 $689 $1,742 $1,281 $2,279
2012 - - $1,218 $2,291
2013 - - $1,151 $2,538
2014 - - $1,174 $2,771
2015 - - $1,121 $3,035
2016 - - $992 $2,942
2017 - - $1,069 $2,619
2018 - - $1,171 $2,632
2019 - - $1,082 $2,568
2020 - - $919 $2,559
2021 - - $1,067 $2,545
2022 - - $1,030 $2,761
2023 - - $916 $2,881
2024 - - $972 $2,998

Spending and national debt comparison

In 2024, Eritrea's government spending was $666M, accounting for 31.3% of its GDP, while Lesotho's spent $1.18B, or 52.4% of GDP.

Debt-to-GDP ratio is 260.4% in Eritrea and 59.7% in Lesotho, ranking 1/185 and 81/185, respectively.

Eritrea
Government spending

Government debt
Lesotho
Government spending

Government debt
Year % of GDP
Eritrea Lesotho
Government spending Government debt Government spending Government debt
1982 - - 29.9% 61.4%
1983 - - 27.2% 56.7%
1984 - - 26.8% 57.2%
1985 - - 32.8% 86.3%
1986 - - 33.2% 92.5%
1987 - - 40.3% 97.4%
1988 - - 35.3% 105.2%
1989 - - 35.8% 112.5%
1990 - - 32.9% 18%
1991 - - 31.3% 11.9%
1992 32.7% - 35.3% 64.4%
1993 67.2% - 36% 71.2%
1994 50.4% - 40.2% 67%
1995 81.2% - 42.1% 62.8%
1996 68.6% - 41.5% 71.6%
1997 60.1% - 44.6% 65.7%
1998 88% - 51.4% 79.4%
1999 106.1% - 50.8% 83%
2000 84.7% 219.1% 39.3% 88.5%
2001 59.5% 238.6% 41.4% 108.7%
2002 60.1% 243.4% 41.2% 79.6%
2003 58.1% 264% 39.8% 52.6%
2004 57.1% 193.5% 36.3% 49.4%
2005 76.6% 205.4% 37.6% 41%
2006 50.5% 199% 43.2% 43.7%
2007 51.2% 201.3% 48.1% 49.6%
2008 69.4% 259.7% 54.1% 47%
2009 44.9% 207.1% 66.4% 35.9%
2010 42.4% 201.8% 55.3% 33.8%
2011 32.3% 171.6% 60.2% 36.2%
2012 33.3% 171.6% 58.1% 39.8%
2013 32.7% 232.4% 58.4% 41.2%
2014 21.6% 204.5% 50.1% 41.5%
2015 31.1% 271.4% 51.7% 45.8%
2016 30.9% 251.2% 54.1% 41.5%
2017 42.5% 290.4% 50.4% 41%
2018 26.4% 267.1% 51.9% 48.2%
2019 31.3% 260.4% 53.6% 58.2%
2020 - - 54.4% 54.7%
2021 - - 53.8% 58%
2022 - - 50.8% 64.6%
2023 - - 49.4% 61.5%
2024 - - 51.9% 59.8%
2025 - - 52.4% 59.7%

Government deficit by year

In 2011, Eritrea's government deficit, the difference between spending and revenue, was -$114M, equivalent to -5.5% of GDP. This compares to Lesotho's deficit of -$254M, or -9.85% of GDP.

Over the past 20 years, Eritrea recorded a fiscal deficit in 16 of those years, while Lesotho ran a deficit in 8 years. On average, Eritrea posted an annual deficit equal to -16.3% of GDP, compared to surplus of +0.93% of GDP for Lesotho.

Deficit/surplus
Eritrea

Lesotho
Year Deficit/surplus, % of GDP
Eritrea Lesotho
1982 - -2.03%
1983 - 1.85%
1984 - 4.82%
1985 - 1.68%
1986 - 0.87%
1987 - -2.85%
1988 - -1.87%
1989 - 3.88%
1990 - 8.78%
1991 - 9.74%
1992 6.85% 4.65%
1993 4.22% 7.55%
1994 8.69% 5.69%
1995 -22.9% 5.13%
1996 -18.4% 2.11%
1997 -5.65% 0.27%
1998 -40.3% -11.8%
1999 -59.7% -15.3%
2000 -25.4% -0.95%
2001 -9.62% -2.76%
2002 -13.3% -2.44%
2003 6.23% 0.89%
2004 -7.65% 6.05%
2005 -31% 4.46%
2006 -15.5% 11.6%
2007 -19.8% 10.8%
2008 -38% 8.1%
2009 -22.2% -4.16%
2010 -16.5% -1.49%
2011 -5.5% -9.85%
2012 -5.21% 4.56%
2013 -7.62% -2.58%
2014 -0.12% 3.16%
2015 -2.77% -1.38%
2016 -1.44% -9.43%
2017 -5.74% -2.02%
2018 5.22% -4.41%
2019 2.72% -5.72%
2020 - 1.18%
2021 - -4.95%
2022 - -6.41%
2023 - 7.32%
2024 - 8.87%
2025 - 6.05%

Inflation comparison by year

Over the past 24 years, Eritrea has recorded an average annual inflation rate of 10.4%, compared with 5.04% in Lesotho. In 2019, inflation was 1.3% in Eritrea and 6.11% in Lesotho.

Inflation
Eritrea

Lesotho
Year Inflation
Eritrea Lesotho Eritrea Lesotho
1996 10.3% 9.33%
1997 3.7% -
1998 9.5% -
1999 8.4% -
2000 19.9% 6.13%
2001 14.6% -9.62%
2002 16.9% 33.8%
2003 22.7% 6.63%
2004 25.1% 5.02%
2005 12.5% 3.44%
2006 7.7% 6.07%
2007 9.4% 8.01%
2008 22.2% 10.7%
2009 33.9% -16.9%
2010 10.3% -2.41%
2011 5.9% 5.04%
2012 6% 6.05%
2013 6.3% 4.87%
2014 8.4% 5.37%
2015 28.5% 3.22%
2016 -5.6% 6.6%
2017 -13.3% 4.45%
2018 -14.4% 4.75%
2019 1.3% 5.19%
2020 - 4.98%
2021 - 6.05%
2022 - 8.27%
2023 - 6.34%
2024 - 6.11%

Balance of trade

Eritrea Lesotho
Current account balance
-$105M
2000
$84.4M
2024
Current account balance ranking
87/189
2000
67/189
2024
Current account balance, % of GDP
-14.8%
2000
+3.72%
2024
Goods imports
$471M
2000
$1.67B
2024
Goods exports
$36.8M
2000
$968M
2024
Service imports
$28.5M
2000
$415M
2024
Service exports
$60.9M
2000
$15.4M
2024
Imports of goods and services, % of GDP
29.2%
2011
98.6%
2023
Exports of goods and services, % of GDP
18.2%
2011
42.9%
2023

Economic freedom indices

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

Eritrea Lesotho
Economic freedom 38.6 54.1
Economic freedom ranking 188/197 137/197
Property rights 6.1 42.4
Government integrity 14.5 39.3
Judicial effectiveness 3.8 43.6
Tax burden 80.3 68
Government spending 62.3 23.8
Fiscal health 69 92
Business freedom 31.3 49.6
Labor freedom 43.4 58
Monetary freedom 63.9 73.5
Trade freedom 68.4 63.8
Investment freedom 0 55
Financial freedom 20 40

Economic freedom by year comparison

The Economic Freedom Index for Eritrea is 38.6, ranking 188/197, compared to 54.1 for Lesotho, ranking 137/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Eritrea
Lesotho
Year Economic freedom index
Eritrea Lesotho
1996 - 47
1997 - 47.2
1998 - 48.4
1999 - 48.2
2000 - 48.4
2001 - 50.6
2002 - 48.9
2003 - 52
2004 - 50.3
2005 - 53.9
2006 - 54.7
2007 - 53.2
2008 - 52.1
2009 38.5 49.7
2010 35.3 48.1
2011 36.7 47.5
2012 36.2 46.6
2013 36.3 47.9
2014 38.5 49.5
2015 38.9 49.6
2016 42.7 50.6
2017 42.2 53.9
2018 41.7 53.9
2019 38.9 53.1
2020 38.5 54.5
2021 42.3 53.5
2022 39.7 48.1
2023 39.5 51.6
2024 39.5 51.9
2025 38.6 54.1

More economic indicators

Eritrea Lesotho
Services, % of GDP n/a
48%
2024
Industry, % of GDP
21.8%
2009
31%
2024
Agriculture, forestry, and fishing, % of GDP
14.1%
2009
6.5%
2024
GNI, Atlas method
$1.94B
2011
$2.75B
2024
GNI per capita, PPP
$1,720
2011
$3,580
2024
Total reserves including gold
$192M
2019
$1.01B
2024
Total reserves ranking
170/177
2019
142/177
2024
Net foreign direct investment
-$27.9M
2000
$12.6M
2024
Net inflows of foreign direct investment
-$27.9M
2024
-$12.6M
2024
Net outflows of foreign direct investment
-$27.9M
2000
$0
1989
Servicing debt to the IMF, % of GNI
1.07%
2011
5.07%
2023
Poverty at national poverty lines
50%
2020
49.7%
2017
Gross capital formation, % of GDP
12.6%
2011
27.2%
2023

GDP per capita map

GDP per capita

Compare countries by 7 more topics

Economy comparisons

Economy vs Eritrea vs Lesotho
Afghanistan Compare Compare
Albania Compare Compare
Algeria Compare Compare
Andorra Compare Compare
Angola Compare Compare
Antigua Compare Compare
Argentina Compare Compare
Armenia Compare Compare
Australia Compare Compare
Austria Compare Compare
Azerbaijan Compare Compare
Bahamas Compare Compare
Bahrain Compare Compare
Bangladesh Compare Compare
Barbados Compare Compare
Belarus Compare Compare
Belgium Compare Compare
Belize Compare Compare
Benin Compare Compare
Bhutan Compare Compare
Bolivia Compare Compare
Bosnia Compare Compare
Botswana Compare Compare
Brazil Compare Compare
Brunei Compare Compare
Bulgaria Compare Compare
Burkina Faso Compare Compare
Burundi Compare Compare
Cambodia Compare Compare
Cameroon Compare Compare
Canada Compare Compare
Cape Verde Compare Compare
Cayman Islands Compare Compare
CAR Compare Compare
Chad Compare Compare
Chile Compare Compare
China Compare Compare
Colombia Compare Compare
Comoros Compare Compare
Congo Compare Compare
Costa Rica Compare Compare
Croatia Compare Compare
Cuba Compare Compare
Curacao Compare Compare
Cyprus Compare Compare
Czech Republic Compare Compare
DR Congo Compare Compare
Denmark Compare Compare
Djibouti Compare Compare
Dominica Compare Compare
Dominican Republic Compare Compare
East Timor Compare Compare
Ecuador Compare Compare
Egypt Compare Compare
El Salvador Compare Compare
Equatorial Guinea Compare Compare
Estonia Compare Compare
Eswatini Compare Compare
Ethiopia Compare Compare
Fiji Compare Compare
Finland Compare Compare
France Compare Compare
Gabon Compare Compare
Gambia Compare Compare
Georgia Compare Compare
Germany Compare Compare
Ghana Compare Compare
Greece Compare Compare
Grenada Compare Compare
Guatemala Compare Compare
Guinea Compare Compare
Guinea-Bissau Compare Compare
Guyana Compare Compare
Haiti Compare Compare
Honduras Compare Compare
Hungary Compare Compare
Iceland Compare Compare
India Compare Compare
Indonesia Compare Compare
Iran Compare Compare
Iraq Compare Compare
Ireland Compare Compare
Israel Compare Compare
Italy Compare Compare
Ivory Coast Compare Compare
Jamaica Compare Compare
Japan Compare Compare
Jordan Compare Compare
Kazakhstan Compare Compare
Kenya Compare Compare
Kiribati Compare Compare
Kuwait Compare Compare
Kyrgyzstan Compare Compare
Laos Compare Compare
Latvia Compare Compare
Lebanon Compare Compare
Liberia Compare Compare
Libya Compare Compare
Liechtenstein Compare Compare
Lithuania Compare Compare
Luxembourg Compare Compare
Madagascar Compare Compare
Malawi Compare Compare
Malaysia Compare Compare
Maldives Compare Compare
Mali Compare Compare
Malta Compare Compare
Marshall Islands Compare Compare
Mauritania Compare Compare
Mauritius Compare Compare
Mexico Compare Compare
Moldova Compare Compare
Monaco Compare Compare
Mongolia Compare Compare
Montenegro Compare Compare
Morocco Compare Compare
Mozambique Compare Compare
Myanmar Compare Compare
Namibia Compare Compare
Nauru Compare Compare
Nepal Compare Compare
Netherlands Compare Compare
New Zealand Compare Compare
Nicaragua Compare Compare
Niger Compare Compare
Nigeria Compare Compare
North Korea Compare Compare
North Macedonia Compare Compare
Norway Compare Compare
Oman Compare Compare
Pakistan Compare Compare
Palau Compare Compare
Palestine Compare Compare
Panama Compare Compare
Papua New Guinea Compare Compare
Paraguay Compare Compare
Peru Compare Compare
Philippines Compare Compare
Poland Compare Compare
Portugal Compare Compare
Qatar Compare Compare
Romania Compare Compare
Russia Compare Compare
Rwanda Compare Compare
Saint Kitts Compare Compare
Saint Lucia Compare Compare
Saint Vincent Compare Compare
Samoa Compare Compare
San Marino Compare Compare
Sao Tome Compare Compare
Saudi Arabia Compare Compare
Senegal Compare Compare
Serbia Compare Compare
Seychelles Compare Compare
Sierra Leone Compare Compare
Singapore Compare Compare
Slovakia Compare Compare
Slovenia Compare Compare
Solomon Islands Compare Compare
Somalia Compare Compare
South Africa Compare Compare
South Korea Compare Compare
South Sudan Compare Compare
Spain Compare Compare
Sri Lanka Compare Compare
Sudan Compare Compare
Suriname Compare Compare
Sweden Compare Compare
Switzerland Compare Compare
Syria Compare Compare
Taiwan Compare Compare
Tajikistan Compare Compare
Tanzania Compare Compare
Thailand Compare Compare
Togo Compare Compare
Tonga Compare Compare
Trinidad Compare Compare
Tunisia Compare Compare
Turkey Compare Compare
Turkmenistan Compare Compare
Tuvalu Compare Compare
Uganda Compare Compare
Ukraine Compare Compare
UAE Compare Compare
United Kingdom Compare Compare
United States Compare Compare
Uruguay Compare Compare
Uzbekistan Compare Compare
Vanuatu Compare Compare
Vatican Compare Compare
Venezuela Compare Compare
Vietnam Compare Compare
Yemen Compare Compare
Zambia Compare Compare
Zimbabwe Compare Compare

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.