Economy
Nominal GDP
USD 2.54 billion
2024; UNCTAD estimate
GDP per capita
USD 717
2024; UNCTAD estimate
Currency
- Name
- Eritrean nakfa
Эритрейская накфа - ISO code
- ERN
- Rate against the US dollar
- USD 1 = 15.00 ERN
- Rate against the rouble
- 1 ERN = 5.5706 RUB
- Rate type
- Cross rate via the Bank of Russia USD/RUB rate
- Currency zone
- National currency
- Note
- fixed official exchange rate
Exchange rate as of 1 October 2026
Economic structure
No information
comparable data on GDP composition for 2023–2025 are unavailable in open international databases (—; World Bank, UNCTAD). Note: the World Bank’s latest series is for 2009.
Industries and programmes
- Key industries
- Mining (copper, zinc, gold, potash), agriculture, and fishing.
- Government programmes
- National programs for mining and infrastructure development
National programs for mining and infrastructure development; few comparable planning documents are publicly available.
International trade
Exports of goods, 2021–2025
USD billion Source: World Bank / WTO, merchandise exports (TX.VAL.MRCH.CD.WT). Period: 2021–2025
Table
| Year | USD billion | index, 2021 = 100 |
|---|---|---|
| 2021 | 0.50 | 100.0 |
| 2022 | 0.60 | 120.0 |
| 2023 | 0.48 | 96.0 |
| 2024 | 0.57 | 114.0 |
| 2025 | 0.63 | 126.0 |
- Imports of goods
- USD 0.42 billion 2021–2025 averageSource: ITC. Period: 2021–2025 average
- Change in exports of goods, 2021–2025
- +26.0%
- Average annual rate of change in exports of goods, 2021–2025
- +5.9%
Export specialisation
Main export products
share of exports of goods, %, 2024 Source: UN Comtrade, 2024; mirror data from importing countries (the country does not report); shares based on imports of the largest partners. Period: 2024
Main export destinations
share of exports of goods, %, 2024 Source: UN Comtrade, 2024; mirror data from importing countries (the country does not report); shares based on imports of the largest partners. Period: 2024
Investment areas
- Mining (copper, zinc, potash and others)
- Fishing
- Port infrastructure
Agreements with Russia
Investment protection
There is no bilateral agreement with Russia on the promotion and reciprocal protection of investments.
Absent
Double taxation
There is no double taxation agreement with Russia.
Absent
Visa requirements
Russian citizens holding ordinary passports require a visa.
Visa required
Peaceful nuclear energy
No information
Other agreements
Source: https://mid.ru- Agreement on the Establishment of an Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation (signing authorized on 25 June 2025).
- Addition: Agreement between the Government of the Russian Federation and the Government of the State of Eritrea on Military-Technical Cooperation (entered into force on 14 February 1997).
Incentives
- Main regimes and incentives
Investment Proclamation No. 59/1994: all sectors are open to investors except certain types of retail and wholesale trade.
- Investment agency
- Eritrea Investment Centre, Ministry of Trade and Industry
- Ministry
- Eritrea Investment Centre, Ministry of Trade and Industry
