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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

StatEritreaSouth Korea
GDP$2.6B$1.6T
GDP growth, 1 year4.2%2.7%
GDP growth, 5-years average3.3%3%
Population3.5M51.1M
GDP per capita$811$31k
GDP per capita growth7.21%2.33%
Purchasing Power Parity conversion factor5.93860.51
Price level ratio of PPP conversion factor GDP to market exchange rate0.390.78
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

StatEritreaSouth Korea
Income Tax Rate30%42%
Corporate Tax Rate30%25%
Inflation, consumer prices9%1.5%
Inflation, GDP deflator13.3%0.3%
Unemployment6.5%3.8%
Economic Freedom Index38.574
Personal Freedom Index4.88.84
Human Freedom Index4.88.15
Property Rights Index32.582.5
Judical Effectiveness Index14.361
Business Freedom Index18.290.5
Fiscal Health Index096.7
Labor Freedom Index69.756.2
Investment Freedom Index070
Financial Freedom Index2070
Trade Freedom Index69.280
Monetary Freedom Index6182.1
Government Spending Index74.767.7
Tax Burden Index81.463.9
Government Integrity Index21.467.5
Corruption Perceptions Index2457
Life expectancy at birth, years65.582.6
Suicide mortality rate, per 100,000 people7.926.9
Mortality caused by road traffic injury, per 100,000 people25.39.8
Intentional homicides, per 100,000 people80.6
International tourism, number of arrivals142k15.3M

Government debt & reserves

StatEritreaSouth Korea
Central government debt, % of GDP129.4%40.7%
External debt stocks, % of GNI40.8%N/A
External debt stocks$791.2MN/A
Short-term debt, % of total reserves16%N/A
Total debt service, % of exports and primary income4.3%N/A
Adjusted net savings including particulate emission damage, % of GNI0.5%20.1%
Gross savings, % of GDP15.8%34.7%
Gross capital formation, % of GDP10%30.2%
Total reserves including gold$114.8M$403.1B
Foreign direct investment net inflows$61M$14.5B

Exports, imports and economic structure

StatEritreaSouth Korea
Exports of goods and services, % of GDP14.4%44%
Imports of goods and services, % of GDP23.2%39%
Current account balance (balance of payments)-$104.7M$76.4B
Revenue excluding grants, % of GDPN/A27.8%
Grants excluding technical cooperation, BoP$82M$6.7M
Personal remittances received$3.3M$7.1B
Industry including construction value added, % of GDP21.8%35.1%
Agriculture, forestry and fishing value added, % of GDP14.1%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 GDPN/A25.4%
Government Expenditure, % of GDP29.1%32.8%

Compare with countries close by GDP per capita

Eritrea vs

CountryGDP
per capita
Population
Comoros
$1.4k
735k
Myanmar
$1.3k
53.3M
Lesotho
$1.3k
2.23M
Kyrgyzstan
$1.3k
6.2M
Mauritania
$1.2k
3.54M
South Sudan
$1.1k
12.6M
Tanzania
$1.1k
57.3M
Nepal
$1k
29.4M
Sudan
$977
40.5M
Yemen
$944
26.2M
Benin
$902
10M
Mali
$900
18.5M
Guinea
$879
11.6M
Haiti
$868
10.3M
Tajikistan
$827
8.92M
Guinea-Bissau
$778
1.52M
Rwanda
$773
12.2M
Ethiopia
$772
105M
Chad
$728
11M
Gambia
$716
1.86M
Burkina Faso
$715
19.2M
Togo
$679
6.34M
Liberia
$677
4.73M
Uganda
$643
42.9M
DR Congo
$562
86.8M
Sierra Leone
$534
7.56M
Madagascar
$528
22.9M
Afghanistan
$521
34.9M
Mozambique
$499
25.8M
Central African Republic
$476
4.99M

South Korea vs

CountryGDP
per capita
Population
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k
Brunei
$32k
418k
Spain
$30k
46.5M
Malta
$30k
423k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.33M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k