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Economy of Eritrea vs Thailand compared: GDP & Debt

Updated on by Georank team

Eritrea has a GDP of $2.07B compared to $527B for Thailand, ranking 179/197 and 31/197 by economy size, respectively.

Eritrea has $3.54B in government debt (260.4% of GDP), compared to $333B (63.2% of GDP) in Thailand.

Eritrea vs Thailand GDP by year

Eritrea
Thailand
1x
Year GDP, current $
Eritrea Thailand
2024 - $526,517,658,842
2023 - $515,906,283,941
2022 - $495,644,697,588
2021 - $506,194,668,790
2020 - $500,461,898,480
2019 - $543,976,691,794
2018 - $506,754,208,404
2017 - $456,356,813,537
2016 - $413,366,349,748
2015 - $401,296,238,228
2014 - $407,339,040,198
2013 - $420,333,654,593
2012 - $397,558,325,279
2011 $2,065,001,626 $370,818,739,624
2010 $1,589,515,447 $341,104,766,329
2009 $1,856,695,551 $281,710,630,187
2008 $1,380,188,800 $291,382,982,431
2007 $1,317,974,491 $262,942,621,455
2006 $1,211,161,880 $221,758,296,022
2005 $1,098,424,686 $189,318,408,469
2004 $1,109,054,005 $172,895,685,155
2003 $870,248,268 $152,280,615,246
2002 $729,321,680 $134,300,904,400
2001 $752,371,689 $120,296,476,180
2000 $706,370,816 $126,392,224,254
1999 $688,918,537 $126,669,211,779
1998 $745,523,117 $113,675,596,788
1997 $686,490,090 $150,180,456,566
1996 $693,535,954 $183,035,237,429
1995 $578,015,625 $169,278,916,593
1994 $531,688,312 $146,683,778,959
1993 $467,872,715 $128,889,262,951
1992 $477,101,652 $111,452,746,518
1991 - $98,234,714,971
1990 - $85,343,190,719
1989 - $72,250,748,100
1988 - $61,667,253,471
1987 - $50,535,446,555
1986 - $43,096,773,981
1985 - $38,900,711,333
1984 - $41,797,647,776
1983 - $40,042,798,388
1982 - $36,589,772,404
1981 - $34,846,039,194
1980 - $32,353,514,989
1979 - $27,371,650,825
1978 - $24,006,566,637
1977 - $19,779,312,261
1976 - $16,985,208,648
1975 - $14,882,770,594
1974 - $13,702,998,512
1973 - $10,838,587,358
1972 - $8,177,873,151
1971 - $7,375,000,024
1970 - $7,086,538,438
1969 - $6,695,336,567
1968 - $6,081,009,428
1967 - $5,638,461,442
1966 - $5,279,230,817
1965 - $4,388,937,649
1964 - $3,889,129,942
1963 - $3,540,403,457
1962 - $3,308,912,797
1961 - $3,034,037,811
1960 - $2,760,750,861

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

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

GDP per capita in Eritrea vs Thailand by year

Eritrea
GDP per capita

GDP per capita, PPP
Thailand
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eritrea Thailand
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $7,347 $24,712
2023 - - $7,195 $23,519
2022 - - $6,909 $22,243
2021 - - $7,057 $20,243
2020 - - $6,986 $19,164
2019 - - $7,606 $19,963
2018 - - $7,100 $18,876
2017 - - $6,413 $17,573
2016 - - $5,834 $16,671
2015 - - $5,689 $15,791
2014 - - $5,801 $15,365
2013 - - $6,018 $15,216
2012 - - $5,726 $14,617
2011 $689 $1,742 $5,374 $13,227
2010 $540 $1,599 $4,974 $12,932
2009 $643 $1,577 $4,135 $11,964
2008 $490 $1,547 $4,309 $12,062
2007 $480 $1,727 $3,919 $11,723
2006 $448 $1,682 $3,331 $10,912
2005 $413 $1,674 $2,868 $10,169
2004 $427 $1,621 $2,642 $9,545
2003 $349 $1,621 $2,348 $8,824
2002 $305 $1,702 $2,090 $8,148
2001 $325 $1,684 $1,890 $7,632
2000 $314 $1,558 $2,006 $7,289
1999 $311 $1,597 $2,033 $6,901
1998 $342 $1,598 $1,848 $6,590
1997 $319 $1,573 $2,473 $7,148
1996 $326 $1,449 $3,055 $7,322
1995 $285.4 $1,369 $2,864 $6,901
1994 $277.8 $1,379 $2,518 $6,341
1993 $252.1 $1,149 $2,245 $5,834
1992 $265.2 $1,021 $1,972 $5,347
1991 - - $1,766 $4,914
1990 - - $1,559 $4,451
1989 - - $1,342 -
1988 - - $1,164 -
1987 - - $970 -
1986 - - $842 -
1985 - - $774 -
1984 - - $847 -
1983 - - $827 -
1982 - - $770 -
1981 - - $748 -
1980 - - $709 -
1979 - - $612 -
1978 - - $548 -
1977 - - $462 -
1976 - - $405 -
1975 - - $364 -
1974 - - $343 -
1973 - - $278.3 -
1972 - - $215.6 -
1971 - - $199.7 -
1970 - - $197.1 -
1969 - - $191.4 -
1968 - - $178.8 -
1967 - - $170.7 -
1966 - - $164.5 -
1965 - - $140.9 -
1964 - - $128.6 -
1963 - - $120.7 -
1962 - - $116.2 -
1961 - - $109.7 -
1960 - - $102.8 -

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

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

Eritrea's GDP per capita is $689, ranking 188/197, compared to $7,347 in Thailand, ranking 100/197. Adjusted for purchasing power (GDP per capita PPP), Eritrea ranks 191st at $1,742, while Thailand ranks 85th at $24,712.

Economic indicators

Eritrea Thailand
Gross domestic product
$2.07B
2011
$527B
2024
GDP rank
179/197
2011
31/197
2024
GDP growth
8.68%
2010-2011
2.54%
2023-2024
GDP per capita
$689
2011
$7,347
2024
GDP per capita rank
188/197
2011
100/197
2024
GDP per capita, PPP
$1,742
2011
$24,712
2024
GDP per capita PPP rank
191/197
2011
85/197
2024
Government debt
$3.54B
2011
$333B
2024
Debt-to-GDP ratio
260.4%
2019
63.2%
2024
Government debt per person
$1,182
2011
$4,643
2024
Government debt per person rank
136/185
2011
84/185
2024
Average annual personal income after taxes
$1,129
2026
$6,733
2026
Market capitalization of domestic companies n/a
$520B
2024
Number of millionaires n/a
100,001
2025
Number of billionaires n/a
25
2025
Income share by richest 10% n/a
26.1%
2023
Income share by poorest 10% n/a
3.4%
2023
Government expenditure, % of GDP
31.3%
2019
22.7%
2024
Consumer prices inflation
1.3%
2018-2019
1.37%
2023-2024
Central bank interest rate n/a
1.5%
2025
Unemployment rate
5.8%
2017
0.78%
2024
Population
3700586
71571743

Spending and national debt comparison by year

Eritrea
Spending

Debt
Thailand
Spending

Debt
1x
Year % of GDP
Eritrea Thailand
Government spending Government debt Government spending Government debt
2024 - - 22.7% 63.2%
2023 - - 22.8% 62.3%
2022 - - 24.7% 60.5%
2021 - - 26.8% 58.3%
2020 - - 24.9% 49.4%
2019 31.3% 260.4% 20.6% 41.1%
2018 26.4% 267.1% 21.2% 41.9%
2017 42.5% 290.4% 21.5% 41.8%
2016 30.9% 251.2% 21.4% 41.7%
2015 31.1% 271.4% 22.3% 42.6%
2014 21.6% 204.5% 22.2% 43.3%
2013 32.7% 232.4% 21.6% 42.2%
2012 33.3% 171.6% 22.3% 41.9%
2011 32.3% 171.6% 21.1% 39.1%
2010 42.4% 201.8% 22% 39.8%
2009 44.9% 207.1% 21.7% 42.4%
2008 69.4% 259.7% 19.2% 34.9%
2007 51.2% 201.3% 20% 36%
2006 50.5% 199% 18.7% 39.2%
2005 76.6% 205.4% 19.6% 45.5%
2004 57.1% 193.5% 19.3% 46.3%
2003 58.1% 264% 18.3% 47.5%
2002 60.1% 243.4% 25.7% 54.9%
2001 59.5% 238.6% 20.8% 57.5%
2000 84.7% 219.1% 19.3% 57.8%
1999 106.1% - 26.5% 56.6%
1998 88% - 23.9% 49.9%
1997 60.1% - 21.6% 40.5%
1996 68.6% - 18% 15.2%
1995 81.2% - 17.2% 5.12%
1994 50.4% - 16% 6.69%
1993 67.2% - 18.8% 9.14%
1992 32.7% - 17.8% 11.4%
1991 - - 17% 14.1%
1990 - - 16.6% 18%
1989 - - 16.5% 23.7%
1988 - - 15.1% 30.3%
1987 - - 17.5% 38.8%
1986 - - 19.5% 40.1%
1985 - - 20.5% 36.8%
1984 - - 19.3% 30.6%
1983 - - 19.5% 28.9%
1982 - - 20.2% 27.1%
1981 - - 19.1% 24.4%
1980 - - 18.7% 22.1%
1979 - - 16.9% 23.7%
1978 - - 16.6% 22.8%
1977 - - 16.1% 22.4%
1976 - - 15.6% 22%
1975 - - 14.2% 15.8%
1974 - - 13.2% 16.3%
1973 - - 15.9% 21.2%
1972 - - 18.5% 26.8%
1971 - - 18.8% 21.5%
1970 - - 17.6% 18.5%
1969 - - 15.9% 17.7%
1968 - - 16% 15.5%
1967 - - 15.5% 15%
1966 - - 14.7% 14.4%
1965 - - 14.7% 14.8%
1964 - - 13.3% 13.3%
1963 - - 12% 12.6%
1962 - - 11.9% 13.4%
1961 - - 9.58% 12.9%
1960 - - 12.1% 14.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1995, retrieved 2026-02-20).

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

In 2024, Eritrea's government spending was $666M, accounting for 31.3% of its GDP, while Thailand spent $120B, or 22.7% of GDP.

Debt-to-GDP ratio is 260.4% in Eritrea and 63.2% in Thailand, ranking 2/185 and 74/185, respectively.

Government deficit by year

Deficit/surplus
Eritrea

Thailand
1x
Year Deficit/surplus, % of GDP
Eritrea Thailand
2024 - -1.29%
2023 - -1.98%
2022 - -4.61%
2021 - -6.74%
2020 - -4.47%
2019 2.72% 0.43%
2018 5.22% 0.2%
2017 -5.74% -0.42%
2016 -1.44% 0.41%
2015 -2.77% 0.19%
2014 -0.12% -0.7%
2013 -7.62% 0.6%
2012 -5.21% -0.86%
2011 -5.5% 0.09%
2010 -16.5% -1.07%
2009 -22.2% -2.21%
2008 -38% 0.8%
2007 -19.8% 0.22%
2006 -15.5% 1.87%
2005 -31% 2.17%
2004 -7.65% 1.11%
2003 6.23% 1.98%
2002 -13.3% -6.72%
2001 -9.62% -1.77%
2000 -25.4% -1.79%
1999 -59.7% -9.02%
1998 -40.3% -6.29%
1997 -5.65% -1.68%
1996 -18.4% 2.75%
1995 -22.9% 3.05%
1994 8.69% 2.78%
1993 4.22% 6.67%
1992 6.85% -0.18%
1991 - 1.6%
1990 - 1.41%
1989 - 0.16%
1988 - 0.58%
1987 - -2.38%
1986 - -4.32%
1985 - -5.11%
1984 - -3.85%
1983 - -4.02%
1982 - -6.18%
1981 - -4.07%
1980 - -4.41%
1979 - -3.62%
1978 - -3.31%
1977 - -2.91%
1976 - -3.35%
1975 - -1.73%
1974 - 1.29%
1973 - -2.7%
1972 - -4.81%
1971 - -5.47%
1970 - -3.73%
1969 - -2.53%
1968 - -2.79%
1967 - -2.1%
1966 - -1.13%
1965 - -1.05%
1964 - -1.01%
1963 - -0.81%
1962 - -0.27%
1961 - 0.05%
1960 - 0.48%
1959 - -1.15%
1958 - -0.91%
1957 - -1.31%
1956 - -1.38%
1955 - -1.65%
1954 - -3.46%
1953 - -3.56%
1952 - -2.4%
1951 - -3.54%
1950 - -0.7%
1949 - 0.7%
1948 - -0.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1948–1994, retrieved 2026-02-20).

GeoRank.org/economy/eritrea/thailand | 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 Thailand's surplus of $349M, or 0.09% of GDP.

Over the past 20 years, Eritrea recorded a fiscal deficit in 16 of those years, while Thailand ran a deficit in 9 years. On average, Eritrea posted an annual deficit equal to 16.3% of GDP, compared to deficit of 0.36% of GDP for Thailand.

Inflation comparison by year

Inflation
Eritrea

Thailand
1x
Year Consumer prices inflation
Eritrea Thailand
2024 - 1.37%
2023 - 8.48%
2022 - -1.61%
2021 - 1.23%
2020 - -0.85%
2019 1.3% 0.71%
2018 -14.4% 1.06%
2017 -13.3% 0.67%
2016 -5.6% 0.19%
2015 28.5% -0.9%
2014 8.4% 1.9%
2013 6.3% 2.18%
2012 6% 3.01%
2011 5.9% 3.81%
2010 10.3% 3.25%
2009 33.9% -0.85%
2008 22.2% 5.47%
2007 9.4% 2.24%
2006 7.7% 4.64%
2005 12.5% 4.54%
2004 25.1% 2.76%
2003 22.7% 1.8%
2002 16.9% 0.7%
2001 14.6% 1.63%
2000 19.9% 1.59%
1999 8.4% 0.28%
1998 9.5% 7.99%
1997 3.7% 5.63%

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/thailand | CC BY

Over the past 23 years, Eritrea has recorded an average annual inflation rate of 10.4%, compared with 2.36% in Thailand. In 2019, inflation was 1.3% in Eritrea and 1.37% in Thailand.

Top exports between countries

Eritrea
Export category Export value
Thailand
Export category Export value
Processed food, beverages & tobacco $4.45M
Raw materials & minerals $511K
Textiles & consumer goods $254K
Machinery & equipment $34K
Chemicals & pharma $24K
Metals $1K

Balance of trade

Eritrea Thailand
Current account balance
-$105M
2000
$11.6B
2024
Current account balance ranking
89/190
2000
23/190
2024
Current account balance, % of GDP
-14.8%
2000
+2.21%
2024
Goods imports
$471M
2000
$276B
2024
Goods exports
$36.8M
2000
$297B
2024
Service imports
$28.5M
2000
$74B
2024
Service exports
$60.9M
2000
$71.9B
2024
Imports of goods and services, % of GDP
29.2%
2011
66.7%
2024
Exports of goods and services, % of GDP
18.2%
2011
70%
2024

Economic freedom indices

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

Eritrea Thailand
Economic freedom 39.6 62.2
Economic freedom ranking 188/197 88/197
Property rights 4.8 41.8
Government integrity 10.9 38.9
Judicial effectiveness 5.5 35
Tax burden 80.3 80.8
Government spending 62.3 83.6
Fiscal health 69 81
Business freedom 30.7 69.9
Labor freedom 43.4 56.4
Monetary freedom 80 73.3
Trade freedom 68.4 70.2
Investment freedom 0 55
Financial freedom 20 60

Economic freedom comparison by year

Eritrea
Thailand
1x
Year Economic freedom index
Eritrea Thailand
2026 39.6 62.2
2025 38.6 60.6
2024 39.5 59
2023 39.5 60.6
2022 39.7 63.2
2021 42.3 69.7
2020 38.5 69.4
2019 38.9 68.3
2018 41.7 67.1
2017 42.2 66.2
2016 42.7 63.9
2015 38.9 62.4
2014 38.5 63.3
2013 36.3 64.1
2012 36.2 64.9
2011 36.7 64.7
2010 35.3 64.1
2009 38.5 63
2008 - 62.3
2007 - 63.5
2006 - 63.3
2005 - 62.5
2004 - 63.7
2003 - 65.8
2002 - 69.1
2001 - 68.9
2000 - 66.6
1999 - 66.9
1998 - 67.3
1997 - 66.1
1996 - 71
1995 - 71.3

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

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

The Economic Freedom Index for Eritrea is 39.6, ranking 188/197, compared to 62.2 for Thailand, ranking 88/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eritrea Thailand
Services, % of GDP n/a
59.2%
2024
Industry, % of GDP
21.8%
2009
32.1%
2024
Agriculture, forestry, and fishing, % of GDP
14.1%
2009
8.71%
2024
GNI, Atlas method
$1.94B
2011
$509B
2024
GNI per capita, PPP
$1,720
2011
$23,960
2024
Total reserves including gold
$192M
2019
$237B
2024
Total reserves ranking
170/177
2019
15/177
2024
Net foreign direct investment
-$27.9M
2000
-$6.95B
2024
Net inflows of foreign direct investment
-$27.9M
2024
$14.3B
2024
Net outflows of foreign direct investment
$0
2024
$7.36B
2024
Servicing debt to the IMF, % of GNI
1.07%
2011
3.52%
2024
Poverty at national poverty lines
50%
2020
5.4%
2022
Gross capital formation, % of GDP
12.6%
2011
21.6%
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/thailand | 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 (1992–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1948–1995, 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. TradeMap (2020–2024, 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.