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%.

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.


Eritrea GDP from 1992 to 2019

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

Change Chart

    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