Countries
Eritrea
Key Economic Indicators
<strong>note:</strong> data in 2015 dollars
<strong>note:</strong> data in 2015 dollars
2.6% (2015 est.)
5.6% (2020 est.)
5.98%
$2.535 billion (2024 est.)
132.8% of GDP (2016 est.)
Economic Overview
largely agrarian economy with a significant mining sector; substantial fiscal surplus due to tight controls; high and vulnerable debts; increased Ethiopian trade and shared port usage decreasing prices; financial and economic data integrity challenges
All Economic Data
Agricultural products
sorghum, milk, barley, vegetables, root vegetables, cereals, pulses, wheat, beef, maize (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$549 million (2018 est.)
Revenues:
$633 million (2018 est.)
Currency
code:
ERN
name:
Eritrean nakfa (ERN) [Nfk]
Debt - external
$693.28 million
Debt - external 2023:
$461.376 million (2023 est.)
Note:
<b>note:</b> present value of external debt in current US dollars
Exchange rates
Currency:
nakfa (ERN) per US dollar -
Exchange rates 2020:
15.075 (2020 est.)
Exchange rates 2021:
15.075 (2021 est.)
Exchange rates 2022:
15.075 (2022 est.)
Exchange rates 2023:
15.075 (2023 est.)
Exchange rates 2024:
15.075 (2024 est.)
Exports
Exports 2011:
$374.898 million (2011 est.)
Exports 2016:
$485.4 million (2016 est.)
Exports 2017:
$624.3 million (2017 est.)
Exports - commodities
copper ore, zinc ore, gold, garments, liquor (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
China 67%, UAE 26%, Philippines 5%, Italy 1%, Croatia 1% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$-27,949,590
GDP (official exchange rate)
$2.535 billion (2024 est.)
note:
<strong>note:</strong> data in current dollars at official exchange rate
Imports
Imports 2009:
$435.275 million (2009 est.)
Imports 2010:
$494.229 million (2010 est.)
Imports - commodities
trucks, sorghum, construction vehicles, wheat flours, other foods (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
China 32%, UAE 27%, Turkey 9%, USA 7%, Italy 5% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industries
food processing, beverages, clothing and textiles, light manufacturing, salt, cement
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2020:
5.6% (2020 est.)
Inflation rate (consumer prices) 2021:
6.6% (2021 est.)
Inflation rate (consumer prices) 2022:
7.4% (2022 est.)
Note:
<strong>note:</strong> annual % change based on consumer prices
Labor force
1.71 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
1.76 million persons
Labor force - by occupation
agriculture:
55.48%
industry:
12.74%
services:
31.78%
Public debt
Public debt 2016:
132.8% of GDP (2016 est.)
Real GDP (purchasing power parity)
Note:
<strong>note:</strong> data in 2015 dollars
Real GDP (purchasing power parity) 2022:
$2.398 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$2.465 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$2.534 billion (2024 est.)
Real GDP growth rate
Real GDP growth rate 2015:
2.6% (2015 est.)
Real GDP growth rate 2016:
1.9% (2016 est.)
Real GDP growth rate 2017:
5% (2017 est.)
Real GDP per capita
Note:
<strong>note:</strong> data in 2015 dollars
Real GDP per capita 2022:
$700 (2022 est.)
Real GDP per capita 2023:
$700 (2023 est.)
Real GDP per capita 2024:
$700 (2024 est.)
Reserves of foreign exchange and gold
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2017:
$143.412 million (2017 est.)
Reserves of foreign exchange and gold 2018:
$163.034 million (2018 est.)
Reserves of foreign exchange and gold 2019:
$191.694 million (2019 est.)
Unemployment rate
5.98%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
5.7% (2022 est.)
Unemployment rate 2023:
5.6% (2023 est.)
Unemployment rate 2024:
5.6% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
10.5% (2024 est.)
Male:
8.5% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
9.4% (2024 est.)
World Bank Indicators
Currency
Eritrean nakfa (ERN) Nfk (2025)
Languages
Arabic, English, Tigrinya (2025)
Economic Rankings
Unemployment Rate
#84
GDP Growth Rate
#99
External Debt
#114
Inflation Rate
#118
GDP (Nominal)
#170
Reserves
#171
Exports
#176
GDP (PPP)
#180
Imports
#183
GDP per Capita
#192
Quick Facts
Industries
food processing, beverages, clothing and textiles, light manufacturing, salt, cement
Agricultural products
sorghum, milk, barley, vegetables, root vegetables, cereals, pulses, wheat, beef, maize (2023)
Labor force
1.71 million (2024 est.)
Exports - partners
China 67%, UAE 26%, Philippines 5%, Italy 1%, Croatia 1% (2023)
Imports - partners
China 32%, UAE 27%, Turkey 9%, USA 7%, Italy 5% (2023)
Exchange rates
nakfa (ERN) per US dollar -
Explore More
Our Partners
Trusted partner applications powering global data and insights