World Factbook

Eritrea

Hagere Ertra

Last updated: 2026-03-28 (today)

Budget

revenues

$633 million (2018 est.)

expenditures

$549 million (2018 est.)

Exports

Exports 2011

$374.898 million (2011 est.)

Exports 2016

$485.4 million (2016 est.)

Exports 2017

$624.3 million (2017 est.)

Imports

Imports 2009

$435.275 million (2009 est.)

Imports 2010

$494.229 million (2010 est.)

Industries

food processing, beverages, clothing and textiles, light manufacturing, salt, cement

Labor force

1.71 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

Public debt 2016

132.8% of GDP (2016 est.)

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.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$461.376 million (2023 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

Unemployment rate

note

note: % 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.)

Exports - partners

China 67%, UAE 26%, Philippines 5%, Italy 1%, Croatia 1% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 32%, UAE 27%, Turkey 9%, USA 7%, Italy 5% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: 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.)

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.)

Agricultural products

sorghum, milk, barley, vegetables, root vegetables, cereals, pulses, wheat, beef, maize (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

copper ore, zinc ore, gold, garments, liquor (2023)

note: top five export commodities based on value in dollars

Imports - commodities

trucks, sorghum, construction vehicles, wheat flours, other foods (2023)

note: top five import commodities based on value in dollars

GDP (official exchange rate)

$2.535 billion (2024 est.)

note: data in current dollars at official exchange rate

Inflation rate (consumer prices)

note

note: annual % change based on 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.)

Real GDP (purchasing power parity)

note

note: 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.)

Youth unemployment rate (ages 15-24)

male

8.5% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

9.4% (2024 est.)

female

10.5% (2024 est.)

Reserves of foreign exchange and gold

note

note: 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.)