The Gross Domestic Product (GDP) in Eritrea expanded 2.90 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Eritrea averaged 4.72 percent from 1991 until 2023, reaching an all time high of 21.25 percent in 2001 and a record low of -13.12 percent in 2000. source: AFDB

GDP Annual Growth Rate in Eritrea is expected to reach 3.00 percent by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Eritrea GDP Annual Growth Rate is projected to trend around 3.20 percent in 2025 and 3.40 percent in 2026, according to our econometric models.




Related Last Previous Unit Reference
GDP Annual Growth Rate 2.90 2.30 percent Dec 2023

Eritrea GDP Annual Growth Rate
Eritrea is one of the poorest countries in the world where 80 percent of population rely on subsistence agriculture. Eritrea's economy is dependent on foreign aid (over 50 percent of population receive food aid) and remittances (accounts for 32 percent of GDP). Lack of basic infrastructure, unemployment, illiteracy and insecurity are Eritrea's main obstacles to growth. However, in recent years, the growth outlook has improved as Eritrea's extraction industries and port facilities have been able to attract foreign direct investment.
Actual Previous Highest Lowest Dates Unit Frequency
2.90 2.30 21.25 -13.12 1991 - 2023 percent Yearly