Eritrea GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Eritrea expanded 6.30 percent in 2012 from the previous year. From 1991 until 2012, Eritrea GDP Annual Growth Rate averaged 5.0 Percent reaching an all time high of 21.3 Percent in December of 2001 and a record low of -13.1 Percent in December of 2000. 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. This page provides - Eritrea GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-21

Actual Previous Highest Lowest Forecast Dates Unit Frequency
6.30 8.20 21.25 -13.12 7.64 | 2013/12 1991 - 2012 Percent Yearly

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Eritrea GDP Annual Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP 3.09 2012-12-31 2.61 3.09 0.34 3.58 2013-12-31 USD Billion [+]
GDP Annual Growth Rate 6.30 2012-12-31 8.20 21.25 -13.12 7.64 2013-12-31 Percent [+]
GDP per capita 200.45 2012-12-31 193.56 275.76 176.68 208.66 2013-12-31 USD [+]
GDP per capita PPP 488.04 2012-12-31 471.26 671.40 430.16 508.03 2013-12-31 USD [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Eritrea Sales Tax Rate | VAT at 4.00 Percent  
The Sales Tax Rate in Eritrea stands at 4 percent. Sales Tax Rate in Eritrea is reported by the Ministry of Finance.
Eritrea Balance of Trade at -228.88 USD Million  
Eritrea recorded a trade deficit of 228.88 USD Million in 2011.
Eritrea Current Account at 70.00 USD Million  
Eritrea recorded a Current Account surplus of 70 USD Million in 2013.
Eritrea Imports at 603.78 USD Million  
Imports in Eritrea increased to 603.78 USD Million in 2011 from 494.23 USD Million in 2010.
Eritrea Exports at 374.90 USD Million  
Exports in Eritrea increased to 374.90 USD Million in 2011 from 101.39 USD Million in 2010.
Eritrea Inflation Rate at 12.30 Percent  
The inflation rate in Eritrea was recorded at 12.50 percent in 2012.
Eritrea GDP per capita at 200.45 USD  
The Gross Domestic Product per capita in Eritrea was last recorded at 200.45 US dollars in 2012. The GDP per Capita in Eritrea is equivalent to 2 percent of the worlds average. GDP per capita in Eritrea is reported by the World Bank.
Eritrea GDP per capita PPP at 488.04 USD  
The Gross Domestic Product per capita in Eritrea was last recorded at 488.04 US dollars in 2012, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Eritrea, when adjusted by Purchasing Power Parity is equivalent to 2 percent of the worlds average. GDP per capita PPP in Eritrea is reported by the World Bank.
Eritrea Population at 6.13 Million  
The total population in Eritrea was last recorded at 6.1 million people in 2012 from 1.4 million in 1960, changing 338 percent during the last 50 years. Population in Eritrea is reported by the World Bank.
Eritrea GDP at 3.09 USD Billion  
The Gross Domestic Product (GDP) in Eritrea was worth 3.09 billion US dollars in 2012. The GDP value of Eritrea represents less than 0.01 percent of the world economy. GDP in Eritrea is reported by the World Bank.
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