The Gross Domestic Product (GDP) in Eritrea expanded 3.10 percent in 2019 from the previous year.

GDP Annual Growth Rate in Eritrea averaged 4.79 percent from 1991 until 2019, reaching an all time high of 21.25 percent in 2001 and a record low of -13.12 percent in 2000. This page provides - Eritrea GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Eritrea GDP Annual Growth Rate - values, historical data and charts - was last updated on October of 2020.

GDP Annual Growth Rate in Eritrea is expected to reach -1.00 percent by the end of 2020, 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 4.40 percent in 2021 and 5.00 percent in 2022, according to our econometric models.

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Eritrea GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.80 13.00 21.25 -13.12 1991 - 2019 percent Yearly

Eritrea GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 3.80 13.00 21.25 -13.12 percent [+]
GDP 6.50 6.72 6.72 0.34 USD Billion [+]

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.