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Economy of Eritrea vs Taiwan compared: GDP & Debt

Updated on by Georank team

Eritrea has a GDP of $2.07B compared to $802B for Taiwan, ranking 179/197 and 22/197 by economy size, respectively.

Eritrea has $3.54B in government debt (260.4% of GDP), compared to $211B (26.3% of GDP) in Taiwan.

Eritrea vs Taiwan GDP by year

Eritrea
Taiwan
1x
Year GDP, current $
Eritrea Taiwan
2024 - $801,529,000,000
2023 - $757,328,000,000
2022 - $765,529,000,000
2021 - $777,062,000,000
2020 - $676,935,000,000
2019 - $613,453,000,000
2018 - $610,744,000,000
2017 - $591,734,000,000
2016 - $543,002,000,000
2015 - $534,474,000,000
2014 - $535,332,000,000
2013 - $512,957,000,000
2012 - $495,536,000,000
2011 $2,065,001,626 $483,957,000,000
2010 $1,589,515,447 $444,245,000,000
2009 $1,856,695,551 $390,788,000,000
2008 $1,380,188,800 $415,824,000,000
2007 $1,317,974,491 $406,940,000,000
2006 $1,211,161,880 $386,492,000,000
2005 $1,098,424,686 $374,042,000,000
2004 $1,109,054,005 $346,881,000,000
2003 $870,248,268 $317,374,000,000
2002 $729,321,680 $307,429,000,000
2001 $752,371,689 $299,303,000,000
2000 $706,370,816 $330,725,000,000
1999 $688,918,537 $303,827,000,000
1998 $745,523,117 $279,926,000,000
1997 $686,490,090 $303,315,000,000
1996 $693,535,954 $292,473,000,000
1995 $578,015,625 $279,013,000,000
1994 $531,688,312 $256,213,000,000
1993 $467,872,715 $234,943,000,000
1992 $477,101,652 $222,947,000,000
1991 - $187,100,000,000
1990 - $166,392,000,000
1989 - $152,687,000,000
1988 - $126,378,000,000
1987 - $104,956,000,000
1986 - $78,347,000,000
1985 - $63,599,000,000
1984 - $61,036,000,000
1983 - $54,155,000,000
1982 - $49,540,000,000
1981 - $49,047,000,000
1980 - $42,292,000,000
1979 - $33,875,000,000
1978 - $27,373,000,000
1977 - $22,252,000,000
1976 - $18,988,000,000
1975 - $15,836,000,000
1974 - $14,739,000,000
1973 - $10,940,000,000
1972 - $8,063,000,000
1971 - $6,727,000,000
1970 - $5,785,000,000
1969 - $5,017,000,000
1968 - $4,325,000,000
1967 - $3,709,000,000
1966 - $3,207,000,000
1965 - $2,869,000,000
1964 - $2,592,000,000
1963 - $2,218,000,000
1962 - $1,960,000,000
1961 - $1,778,000,000
1960 - $1,743,000,000
1959 - $1,444,000,000
1958 - $1,836,000,000
1957 - $1,636,000,000
1956 - $1,399,000,000
1955 - $1,940,000,000
1954 - $1,628,000,000
1953 - $1,481,000,000
1952 - $1,677,000,000
1951 - $1,197,000,000

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-02-09); World Bank | Economy & Growth (1992–2011, retrieved 2026-04-06).

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

GDP per capita in Eritrea vs Taiwan by year

Eritrea
GDP per capita

GDP per capita, PPP
Taiwan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eritrea Taiwan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $34,238 -
2023 - - $32,444 -
2022 - - $32,827 -
2021 - - $33,111 -
2020 - - $28,705 -
2019 - - $25,998 -
2018 - - $25,901 -
2017 - - $25,121 $50,500
2016 - - $23,091 -
2015 - - $22,780 $46,800
2014 - - $22,874 -
2013 - - $21,973 $39,600
2012 - - $21,295 $39,400
2011 $689 $1,742 $20,866 $38,200
2010 $540 $1,599 $19,197 $35,700
2009 $643 $1,577 $16,933 $32,000
2008 $490 $1,547 $18,081 $31,100
2007 $480 $1,727 $17,757 $30,100
2006 $448 $1,682 $16,934 $29,500
2005 $413 $1,674 $16,456 $27,500
2004 $427 $1,621 $15,317 $25,300
2003 $349 $1,621 $14,066 $23,400
2002 $305 $1,702 $13,686 $18,000
2001 $325 $1,684 $13,397 $17,200
2000 $314 $1,558 $14,908 $17,400
1999 $311 $1,597 $13,804 $16,100
1998 $342 $1,598 $12,820 -
1997 $319 $1,573 $14,020 -
1996 $326 $1,449 $13,641 -
1995 $285.4 $1,369 $13,119 -
1994 $277.8 $1,379 $12,150 -
1993 $252.1 $1,149 $11,242 -
1992 $265.2 $1,021 $10,768 -
1991 - - $9,125 -
1990 - - $8,205 -
1989 - - $7,613 -
1988 - - $6,370 -
1987 - - $5,350 -
1986 - - $4,036 -
1985 - - $3,314 -
1984 - - $3,224 -
1983 - - $2,903 -
1982 - - $2,699 -
1981 - - $2,720 -
1980 - - $2,389 -
1979 - - $1,950 -
1978 - - $1,606 -
1977 - - $1,330 -
1976 - - $1,158 -
1975 - - $985 -
1974 - - $934 -
1973 - - $706 -
1972 - - $530 -
1971 - - $451 -
1970 - - $397 -
1969 - - $357 -
1968 - - $319 -
1967 - - $280.8 -
1966 - - $249.1 -
1965 - - $229.3 -
1964 - - $213.6 -
1963 - - $188.6 -
1962 - - $172 -
1961 - - $161.2 -
1960 - - $163.4 -
1959 - - $140.4 -
1958 - - $185.1 -
1957 - - $170.5 -
1956 - - $150.6 -
1955 - - $216.3 -
1954 - - $188.3 -
1953 - - $177.7 -
1952 - - $208.4 -
1951 - - $154.3 -

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-02-09); World Bank | Economy & Growth (1992–2011, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2017, retrieved 2026-02-20).

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

Eritrea's GDP per capita is $689, ranking 188/197, compared to $34,238 in Taiwan, ranking 35/197. Adjusted for purchasing power (GDP per capita PPP), Eritrea ranks 191st at $1,742, while Taiwan ranks 44th at $50,500.

Economic indicators

Eritrea Taiwan
Gross domestic product
$2.07B
2011
$802B
2024
GDP rank
179/197
2011
22/197
2024
GDP growth
8.68%
2010-2011
2.3%
2023-2024
GDP per capita
$689
2011
$34,238
2024
GDP per capita rank
188/197
2011
35/197
2024
GDP per capita, PPP
$1,742
2011
$50,500
2017
GDP per capita PPP rank
191/197
2011
44/197
2017
Government debt
$3.54B
2011
$211B
2024
Debt-to-GDP ratio
260.4%
2019
26.3%
2024
Government debt per person
$1,182
2011
$9,020
2024
Government debt per person rank
136/185
2011
59/185
2024
Average annual personal income after taxes
$1,129
2026
$18,163
2026
Number of millionaires n/a
759,000
2025
Number of billionaires n/a
54
2025
Government expenditure, % of GDP
31.3%
2019
15.8%
2024
Consumer prices inflation
1.3%
2018-2019
2.2%
2023-2024
Central bank interest rate n/a
2%
2024
Unemployment rate
5.8%
2017
3.35%
2025
Population
3700586
23229461

Spending and national debt comparison by year

Eritrea
Spending

Debt
Taiwan
Spending

Debt
1x
Year % of GDP
Eritrea Taiwan
Government spending Government debt Government spending Government debt
2024 - - 15.8% 26.3%
2023 - - 17.1% 29%
2022 - - 16% 29.5%
2021 - - 15.4% 30.1%
2020 - - 16.2% 32%
2019 31.3% 260.4% 15.3% 32.6%
2018 26.4% 267.1% 15.4% 33.8%
2017 42.5% 290.4% 15.4% 34.5%
2016 30.9% 251.2% 15.6% 35.4%
2015 31.1% 271.4% 15.5% 35.9%
2014 21.6% 204.5% - 37.5%
2013 32.7% 232.4% - 38.9%
2012 33.3% 171.6% - 39.2%
2011 32.3% 171.6% 18.3% 38.3%
2010 42.4% 201.8% - 36.9%
2009 44.9% 207.1% - 36.7%
2008 69.4% 259.7% - 33.4%
2007 51.2% 201.3% - 32.2%
2006 50.5% 199% - 33.3%
2005 76.6% 205.4% - 34.1%
2004 57.1% 193.5% - 33.4%
2003 58.1% 264% - 32.1%
2002 60.1% 243.4% - 29.8%
2001 59.5% 238.6% 22.5% 30.1%
2000 84.7% 219.1% - 26.2%
1999 106.1% - - 23.7%
1998 88% - - 23.7%
1997 60.1% - - 25%
1996 68.6% - - -
1995 81.2% - - -
1994 50.4% - - -
1993 67.2% - - -
1992 32.7% - - -
1991 - - 25.4% -
1990 - - - -
1989 - - - -
1988 - - - -
1987 - - - -
1986 - - - -
1985 - - - -
1984 - - - -
1983 - - - -
1982 - - - -
1981 - - 23.6% -
1980 - - - -
1979 - - - -
1978 - - - -
1977 - - - -
1976 - - 21.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09).

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

In 2024, Eritrea's government spending was $666M, accounting for 31.3% of its GDP, while Taiwan spent $127B, or 15.8% of GDP.

Debt-to-GDP ratio is 260.4% in Eritrea and 26.3% in Taiwan, ranking 2/185 and 160/185, respectively.

Government deficit by year

Deficit/surplus
Eritrea

Taiwan
1x
Year Deficit/surplus, % of GDP
Eritrea Taiwan
2024 - 0.43%
2023 - -0.61%
2022 - 0.17%
2021 - -0.18%
2020 - -1.03%
2019 2.72% 0.11%
2018 5.22% 0.02%
2017 -5.74% -0.14%
2016 -1.44% -0.31%
2015 -2.77% 0.1%
2014 -0.12% -
2013 -7.62% -
2012 -5.21% -
2011 -5.5% -2.15%
2010 -16.5% -
2009 -22.2% -
2008 -38% -
2007 -19.8% -
2006 -15.5% -
2005 -31% -
2004 -7.65% -
2003 6.23% -
2002 -13.3% -
2001 -9.62% -3.71%
2000 -25.4% -
1999 -59.7% -
1998 -40.3% -
1997 -5.65% -
1996 -18.4% -
1995 -22.9% -
1994 8.69% -
1993 4.22% -
1992 6.85% -
1991 - -4.5%
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -0.78%
1980 - -
1979 - -
1978 - -
1977 - -
1976 - 1.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2019, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09).

GeoRank.org/economy/eritrea/taiwan | 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 Taiwan's deficit of $10.4B, or 2.15% of GDP.

Over the past 20 years, Eritrea recorded a fiscal deficit in 16 of those years, while Taiwan ran a deficit in 2 years. On average, Eritrea posted an annual deficit equal to 16.3% of GDP, compared to deficit of 2.93% of GDP for Taiwan.

Inflation comparison by year

Inflation
Eritrea

Taiwan
1x
Year Consumer prices inflation
Eritrea Taiwan
2024 - 2.2%
2023 - 2.5%
2022 - 2.9%
2021 - 2%
2020 - -0.2%
2019 1.3% 0.6%
2018 -14.4% 1.4%
2017 -13.3% 0.6%
2016 -5.6% 1.4%
2015 28.5% -0.3%
2014 8.4% 1.2%
2013 6.3% 0.8%
2012 6% 1.9%
2011 5.9% 1.4%
2010 10.3% 1%
2009 33.9% -0.9%
2008 22.2% 3.5%
2007 9.4% 1.8%
2006 7.7% 0.6%
2005 12.5% 2.3%
2004 25.1% 1.6%
2003 22.7% -0.3%
2002 16.9% -0.2%
2001 14.6% 0%
2000 19.9% 1.2%
1999 8.4% 0.2%
1998 9.5% 1.7%
1997 3.7% 0.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 23 years, Eritrea has recorded an average annual inflation rate of 10.4%, compared with 0.97% in Taiwan. In 2019, inflation was 1.3% in Eritrea and 2.2% in Taiwan.

Balance of trade

Eritrea Taiwan
Current account balance
-$105M
2000
$113B
2024
Current account balance ranking
89/190
2000
4/190
2024
Current account balance, % of GDP
-14.8%
2000
+14.1%
2024
Goods imports
$471M
2000
n/a
Goods exports
$36.8M
2000
n/a
Service imports
$28.5M
2000
n/a
Service exports
$60.9M
2000
n/a
Imports of goods and services, % of GDP
29.2%
2011
50.2%
2024
Exports of goods and services, % of GDP
18.2%
2011
63.3%
2024

Economic freedom indices

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

Eritrea Taiwan
Economic freedom 39.6 79.8
Economic freedom ranking 188/197 6/197
Property rights 4.8 83.4
Government integrity 10.9 74.3
Judicial effectiveness 5.5 94.3
Tax burden 80.3 78.9
Government spending 62.3 90
Fiscal health 69 92.9
Business freedom 30.7 78.6
Labor freedom 43.4 69
Monetary freedom 80 80.3
Trade freedom 68.4 86
Investment freedom 0 70
Financial freedom 20 60

Economic freedom comparison by year

Eritrea
Taiwan
1x
Year Economic freedom index
Eritrea Taiwan
2026 39.6 79.8
2025 38.6 79.7
2024 39.5 80
2023 39.5 80.7
2022 39.7 80.1
2021 42.3 78.6
2020 38.5 77.1
2019 38.9 77.3
2018 41.7 76.6
2017 42.2 76.5
2016 42.7 74.7
2015 38.9 75.1
2014 38.5 73.9
2013 36.3 72.7
2012 36.2 71.9
2011 36.7 70.8
2010 35.3 70.4
2009 38.5 69.5
2008 - 70.3
2007 - 69.4
2006 - 69.7
2005 - 71.3
2004 - 69.6
2003 - 71.7
2002 - 71.3
2001 - 72.8
2000 - 72.5
1999 - 71.5
1998 - 70.4
1997 - 70
1996 - 74.1
1995 - 74.2

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

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

The Economic Freedom Index for Eritrea is 39.6, ranking 188/197, compared to 79.8 for Taiwan, ranking 6/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eritrea Taiwan
Services, % of GDP n/a
58.8%
2024
Industry, % of GDP
21.8%
2009
39.8%
2024
Agriculture, forestry, and fishing, % of GDP
14.1%
2009
1.47%
2024
GNI, Atlas method
$1.94B
2011
$832B
2024
GNI per capita, PPP
$1,720
2011
n/a
Total reserves including gold
$192M
2019
n/a
Total reserves ranking
170/177
2019
n/a
Net foreign direct investment
-$27.9M
2000
n/a
Net inflows of foreign direct investment
-$27.9M
2024
n/a
Net outflows of foreign direct investment
$0
2024
n/a
Servicing debt to the IMF, % of GNI
1.07%
2011
n/a
Poverty at national poverty lines
50%
2020
1.5%
2020
Gross capital formation, % of GDP
12.6%
2011
26.7%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); National Statistics, Taiwan (1985–2024, retrieved 2026-02-09); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06)
  2. National Statistics, Taiwan (1951–2025, retrieved 2026-02-09)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.