Eritrea GDP Trends from 1992 to 2019: A overall increase with some decline Flow

Eritrea's GDP changed from approximately $606M in 1992 to $1B 982M in 2019, showing an overall 227.1% sharply increased during the period.
The lowest GDP was recorded in 1993 at $374M, and the highest in 2014 at $2B 604M.
Over the 27-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.5%.
For comparison, the average annual growth rate of Ethiopia was 7.8%, and that of Djibouti was 5.9%.

Eritrea GDP from 1992 to 2019

The total market value of goods and services produced annually in Eritrea.

Change Chart

    Overview of Eritrea's GDP (1992–2019)

    The Gross Domestic Product (GDP) of Eritrea recorded a 227.1% sharply increased from 1992 to 2019.
    The average GDP during this period was $1B 184M, and the median was $890M 500K.
    GDP fluctuated within a range of $2B 230M, with a standard deviation of $706M 629K.
    The average annual change was $77M 620K.


    Highest and Lowest GDP Records

    • Lowest GDP: 1993, $374M
    • Highest GDP: 2014, $2B 604M
    • Most Recent GDP: 2019, $1B 982M

    Notable Annual GDP Changes

    • 2014: Significant increase in GDP
    • 2015: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Eritrea's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $1B 982M → $0
    • Outcome: remained stable

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $1B 20M → $1B 297M
    • Outcome: sharply increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $547M → $582M
    • Outcome: increased

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $594M → $626M
    • Outcome: increased

    Key Economic Indicators of Eritrea (1992–2019)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1992
    $ 606M
    $ 268.19
    $ 750.24
    $ 1B 694M
    0 %
    30.963 %
    39.92 %
    6.891 %
    2M 258K people
    1993
    $ 374M
    $ 167.08
    $ 874.32
    $ 1B 958M
    12.882 %
    30.936 %
    62.03 %
    4.27 %
    2M 239K people
    1994
    $ 433M
    $ 195.44
    $ 1,090.01
    $ 2B 418M
    20.918 %
    36.995 %
    66.06 %
    8.848 %
    2M 218K people
    1995
    $ 483M
    $ 219.09
    $ 1,145.96
    $ 2B 526M
    2.325 %
    10.333 %
    36.93 %
    -22.312 %
    2M 204K people
    1996
    $ 579M
    $ 263.81
    $ 1,278.19
    $ 2B 807M
    9.136 %
    3.04 %
    35.27 %
    -17.352 %
    2M 196K people
    1997
    $ 594M
    $ 270.57
    $ 1,403.59
    $ 3B 81M
    7.9 %
    6.815 %
    43.56 %
    -4.364 %
    2M 195K people
    1998
    $ 626M
    $ 283.92
    $ 1,440.05
    $ 3B 177M
    1.966 %
    -26.641 %
    10.79 %
    -38.89 %
    2M 206K people
    1999
    $ 614M
    $ 274.58
    $ 1,442.88
    $ 3B 228M
    0.187 %
    -33.315 %
    16.92 %
    -57.223 %
    2M 237K people
    2000
    $ 547M
    $ 238.51
    $ 1,262.23
    $ 2B 893M
    -12.355 %
    -21.079 %
    −5.62 %
    -22.082 %
    2M 292K people
    2001
    $ 582M
    $ 245.16
    $ 1,354.60
    $ 3B 217M
    8.755 %
    -24.775 %
    −4.02 %
    -5.575 %
    2M 375K people
    2002
    $ 564M
    $ 227.50
    $ 1,356.45
    $ 3B 365M
    3.005 %
    -0.07 %
    18.41 %
    -8.831 %
    2M 481K people
    2003
    $ 673M
    $ 258.93
    $ 1,284.38
    $ 3B 341M
    -2.656 %
    -2.348 %
    21.75 %
    10.322 %
    2M 601K people
    2004
    $ 858M
    $ 315.55
    $ 1,279.52
    $ 3B 480M
    1.452 %
    -0.869 %
    11.31 %
    -3.643 %
    2M 720K people
    2005
    $ 850M
    $ 300.70
    $ 1,302.38
    $ 3B 682M
    2.574 %
    0.432 %
    25.99 %
    -26.929 %
    2M 827K people
    2006
    $ 937M
    $ 321.22
    $ 1,288.07
    $ 3B 759M
    -0.969 %
    -4.631 %
    12.60 %
    -11.308 %
    2M 918K people
    2007
    $ 1B 20M
    $ 340.33
    $ 1,306.48
    $ 3B 916M
    1.427 %
    -7.897 %
    7.98 %
    -15.716 %
    2M 997K people
    2008
    $ 923M
    $ 301.24
    $ 1,049.71
    $ 3B 215M
    -19.436 %
    -7.642 %
    10.52 %
    -32.421 %
    3M 63K people
    2009
    $ 1B 297M
    $ 415.60
    $ 1,163.18
    $ 3B 629M
    12.179 %
    -11.319 %
    1.21 %
    -17.615 %
    3M 120K people
    2010
    $ 1B 590M
    $ 501.42
    $ 1,284.50
    $ 4B 72M
    10.853 %
    -11.42 %
    6.75 %
    -12.33 %
    3M 170K people
    2011
    $ 2B 65M
    $ 642.50
    $ 1,625.49
    $ 5B 224M
    25.71 %
    12.796 %
    25.64 %
    -2.065 %
    3M 214K people