Eritrea/

Since independence from Ethiopia in 1993, Eritrea has faced the economic problems of a small, desperately poor country, accentuated by the recent implementation of restrictive economic policies. Eritrea has a command economy under the control of the sole political party, the People’s Front for Democracy and Justice (PFDJ). Like the economies of many African nations, a large share of the population - nearly 80% - is engaged in subsistence agriculture, but they produce only a small share of total output. Since the conclusion of the Ethiopian-Eritrea war in 2000, the government has maintained a firm grip on the economy, expanding the use of the military and party-owned businesses to complete Eritrea’s development agenda. The government strictly controls the use of foreign currency by limiting access and availability. Few private enterprises remain in Eritrea. Eritrea’s economy depends heavily on taxes paid by members of the diaspora. Erratic rainfall and the delayed demobilization of agriculturalists from the military continue to interfere with agricultural production, and Eritrea’s recent harvests have been unable to meet the food needs of the country. The Government continues to place its hope for additional revenue on the development of several international mining projects. Despite difficulties for international companies in working with the Eritrean Government, a Canadian mining company signed a contract with the government in 2007 and began mineral extraction in 2010. Eritrea’s economic future depends upon its ability to master social problems such as illiteracy, unemployment, and low skills, and more importantly, on the government’s willingness to support a true market economy.

$4.178 billion (2010 est.)

$4.017 billion (2009 est.)

$3.877 billion (2008 est.)

$2.254 billion (2010 est.)

4% (2010 est.)

3.6% (2009 est.)

2% (2008 est.)

$700 (2010 est.)

$700 (2009 est.)

$700 (2008 est.)

1.935 million NA (2007)

NA%

50% (2004 est.)

10.3% of GDP (2010 est.)

20% (2010 est.)

20% (2009 est.)

NA%

$1.382 billion (31 December 2010 est)

$1.007 billion (31 December 2009 est)

$2.872 billion (31 December 2010 est.)

$2.171 billion (31 December 2009 est.)

$2.919 billion (31 December 2010 est.)

$2.206 billion (31 December 2009 est.)

sorghum, lentils, vegetables, corn, cotton, tobacco, sisal; livestock, goats; fish

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

8% (2010 est.)

271 million kWh (2007 est.)

228 million kWh (2007 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

0 bbl/day (2009 est.)

5,000 bbl/day (2009 est.)

0 bbl/day (2007 est.)

4,790 bbl/day (2007 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (1 January 2010 est.)

-$212 million (2010 est.)

-$188 million (2009 est.)

$25 million (2010 est.)

$20 million (2009 est.)

livestock, sorghum, textiles, food, small manufactures

India 25.3%, Italy 20.7%, Sudan 14.1%, China 12.9%, France 5.5%, Saudi Arabia 5.4% (2008)

$738 million (2010 est.)

$682 million (2009 est.)

machinery, petroleum products, food, manufactured goods

Saudi Arabia 20.7%, India 13.6%, Italy 12.6%, China 9.9%, US 5.1%, Germany 4.6% (2008)

$104 million (31 December 2010 est.)

$88 million (31 December 2009 est.)

$NA (31 December 2010 est.)

$961.9 million (31 December 2008 est.)

nakfa (ERN) per US dollar - 15.375 (2010), 15.375 (2009), 15.38 (2008), 15.5 (2007), 15.4 (2006)