Eritrea vs South Korea: Economic Indicators Comparison
South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Eritrea ranked 170th with $2.6B. By GDP 5-years average growth and GDP per capita, South Korea and Eritrea ranked 93rd vs 79th and 33rd vs 178th, respectively.
Gross Domestic Product & Income
| Stat |  Eritrea |  South Korea |
|---|---|---|
| GDP | $2.6B | $1.6T |
| GDP growth, 1 year | 4.2% | 2.7% |
| GDP growth, 5-years average | 3.3% | 3% |
| Population | 3.5M | 51.5M |
| GDP per capita | $811 | $31k |
| GDP per capita growth | 7.21% | 2.33% |
| Purchasing Power Parity conversion factor | 5.93 | 860.51 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.39 | 0.78 |
| GDP per capita, PPP adjusted | $1.7k | $41k |
| GNI, Atlas method | $2.3B | $1.6T |
| GNI per capita | $720 | $31k |
| GNI, PPP adjusted | $6.7B | $2.1T |
| GNI per capita, PPP adjusted | $2.1k | $40k |
Financial system and Human development
| Stat | Eritrea | South Korea |
|---|---|---|
| Income Tax Rate | 30% | 42% |
| Corporate Tax Rate | 30% | 25% |
| Inflation, consumer prices | 9% | 1.5% |
| Inflation, GDP deflator | 13.3% | 0.3% |
| Unemployment | 6.5% | 3.8% |
| Economic Freedom Index | 38.5 | 74 |
| Personal Freedom Index | 4.8 | 8.84 |
| Human Freedom Index | 4.8 | 8.15 |
| Property Rights Index | 32.5 | 82.5 |
| Judical Effectiveness Index | 14.3 | 61 |
| Business Freedom Index | 18.2 | 90.5 |
| Fiscal Health Index | 0 | 96.7 |
| Labor Freedom Index | 69.7 | 56.2 |
| Investment Freedom Index | 0 | 70 |
| Financial Freedom Index | 20 | 70 |
| Trade Freedom Index | 69.2 | 80 |
| Monetary Freedom Index | 61 | 82.1 |
| Government Spending Index | 74.7 | 67.7 |
| Tax Burden Index | 81.4 | 63.9 |
| Government Integrity Index | 21.4 | 67.5 |
| Corruption Perceptions Index | 24 | 57 |
| Life expectancy at birth, years | 65.5 | 82.6 |
| Suicide mortality rate, per 100,000 people | 7.9 | 26.9 |
| Mortality caused by road traffic injury, per 100,000 people | 25.3 | 9.8 |
| Intentional homicides, per 100,000 people | 8 | 0.6 |
| International tourism, number of arrivals | 142k | 15.3M |
Government debt & reserves
| Stat | Eritrea | South Korea |
|---|---|---|
| Central government debt, % of GDP | 129.4% | 40.7% |
| External debt stocks, % of GNI | 40.8% | N/A |
| External debt stocks | $791.2M | N/A |
| Short-term debt, % of total reserves | 16% | N/A |
| Total debt service, % of exports and primary income | 4.3% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 0.5% | 20.1% |
| Gross savings, % of GDP | 15.8% | 34.7% |
| Gross capital formation, % of GDP | 10% | 30.2% |
| Total reserves including gold | $114.8M | $403.1B |
| Foreign direct investment net inflows | $61M | $14.5B |
Exports, imports and economic structure
| Stat | Eritrea | South Korea |
|---|---|---|
| Exports of goods and services, % of GDP | 14.4% | 44% |
| Imports of goods and services, % of GDP | 23.2% | 39% |
| Current account balance (balance of payments) | -$104.7M | $76.4B |
| Revenue excluding grants, % of GDP | N/A | 27.8% |
| Grants excluding technical cooperation, BoP | $82M | $6.7M |
| Personal remittances received | $3.3M | $7.1B |
| Industry including construction value added, % of GDP | 21.8% | 35.1% |
| Agriculture, forestry and fishing value added, % of GDP | 14.1% | 2% |
| Charges for the use of intellectual property, payments BoP | $281k | $9.9B |
| Charges for the use of intellectual property, receipts BoP | $94k | $7.8B |
| Expense, % of GDP | N/A | 25.4% |
| Government Expenditure, % of GDP | 29.1% | 32.8% |
