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class="vector-toc-text"> <span class="vector-toc-numb">3.4</span> <span>Energy</span> </div> </a> <ul id="toc-Energy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Services" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Services"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.5</span> <span>Services</span> </div> </a> <ul id="toc-Services-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Tourism" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Tourism"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.6</span> <span>Tourism</span> </div> </a> <ul id="toc-Tourism-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Banking_and_Finance" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Banking_and_Finance"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.7</span> <span>Banking and Finance</span> </div> </a> <ul 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vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" 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Available in 16 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-16" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">16 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF_%D8%A5%D8%B1%D9%8A%D8%AA%D8%B1%D9%8A%D8%A7" title="اقتصاد إريتريا – Arabic" lang="ar" hreflang="ar" data-title="اقتصاد إريتريا" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A6%87%E0%A6%B0%E0%A6%BF%E0%A6%A4%E0%A7%8D%E0%A6%B0%E0%A6%BF%E0%A6%AF%E0%A6%BC%E0%A6%BE%E0%A6%B0_%E0%A6%85%E0%A6%B0%E0%A7%8D%E0%A6%A5%E0%A6%A8%E0%A7%80%E0%A6%A4%E0%A6%BF" title="ইরিত্রিয়ার অর্থনীতি – Bangla" lang="bn" hreflang="bn" data-title="ইরিত্রিয়ার অর্থনীতি" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target"><span>বাংলা</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Economia_d%27Eritrea" title="Economia d'Eritrea – Catalan" lang="ca" hreflang="ca" data-title="Economia d'Eritrea" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Wirtschaft_Eritreas" title="Wirtschaft Eritreas – German" lang="de" hreflang="de" data-title="Wirtschaft Eritreas" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Econom%C3%ADa_de_Eritrea" title="Economía de Eritrea – Spanish" lang="es" hreflang="es" data-title="Economía de Eritrea" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/%C3%89conomie_de_l%27%C3%89rythr%C3%A9e" title="Économie de l'Érythrée – French" lang="fr" hreflang="fr" data-title="Économie de l'Érythrée" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="https://gl.wikipedia.org/wiki/Econom%C3%ADa_de_Eritrea" title="Economía de Eritrea – Galician" lang="gl" hreflang="gl" data-title="Economía de Eritrea" data-language-autonym="Galego" data-language-local-name="Galician" class="interlanguage-link-target"><span>Galego</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EC%97%90%EB%A6%AC%ED%8A%B8%EB%A0%88%EC%95%84%EC%9D%98_%EA%B2%BD%EC%A0%9C" title="에리트레아의 경제 – Korean" lang="ko" hreflang="ko" data-title="에리트레아의 경제" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D4%B7%D6%80%D5%AB%D5%A9%D6%80%D5%A5%D5%A1%D5%B5%D5%AB_%D5%BF%D5%B6%D5%BF%D5%A5%D5%BD%D5%B8%D6%82%D5%A9%D5%B5%D5%B8%D6%82%D5%B6" title="Էրիթրեայի տնտեսություն – Armenian" lang="hy" hreflang="hy" data-title="Էրիթրեայի տնտեսություն" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Gospodarstvo_Eritreje" title="Gospodarstvo Eritreje – Croatian" lang="hr" hreflang="hr" data-title="Gospodarstvo Eritreje" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-io mw-list-item"><a href="https://io.wikipedia.org/wiki/Ekonomio_di_Eritrea" title="Ekonomio di Eritrea – Ido" lang="io" hreflang="io" data-title="Ekonomio di Eritrea" data-language-autonym="Ido" data-language-local-name="Ido" class="interlanguage-link-target"><span>Ido</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Ekonomi_Eritrea" title="Ekonomi Eritrea – Malay" lang="ms" hreflang="ms" data-title="Ekonomi Eritrea" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-oc mw-list-item"><a href="https://oc.wikipedia.org/wiki/Economia_d%27Eritr%C3%A8a" title="Economia d'Eritrèa – Occitan" lang="oc" hreflang="oc" data-title="Economia d'Eritrèa" data-language-autonym="Occitan" data-language-local-name="Occitan" class="interlanguage-link-target"><span>Occitan</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Economia_da_Eritreia" title="Economia da Eritreia – Portuguese" lang="pt" hreflang="pt" data-title="Economia da Eritreia" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%95%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D1%96%D0%BA%D0%B0_%D0%95%D1%80%D0%B8%D1%82%D1%80%D0%B5%D1%97" title="Економіка Еритреї – Ukrainian" lang="uk" hreflang="uk" data-title="Економіка Еритреї" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E5%8E%84%E7%AB%8B%E7%89%B9%E9%87%8C%E4%BA%9E%E7%B6%93%E6%BF%9F" title="厄立特里亞經濟 – Chinese" lang="zh" hreflang="zh" data-title="厄立特里亞經濟" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q1818145#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></span></div> </div> </div> </div> </header> <div class="vector-page-toolbar"> <div class="vector-page-toolbar-container"> <div id="left-navigation"> <nav 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.infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><table class="infobox" style="width:26.0em;padding:0;"><caption class="infobox-title adr">Economy of <span class="country-name">Eritrea</span></caption><tbody><tr><td colspan="2" class="infobox-image"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:Asmara_panorama,_Eritrea.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Asmara_panorama%2C_Eritrea.jpg/220px-Asmara_panorama%2C_Eritrea.jpg" decoding="async" width="220" height="146" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Asmara_panorama%2C_Eritrea.jpg/330px-Asmara_panorama%2C_Eritrea.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Asmara_panorama%2C_Eritrea.jpg/440px-Asmara_panorama%2C_Eritrea.jpg 2x" data-file-width="709" data-file-height="471" /></a></span><div class="infobox-caption">A view of <a href="/wiki/Asmara" title="Asmara">Asmara</a></div></td></tr><tr><th scope="row" class="infobox-label">Currency</th><td class="infobox-data"><a href="/wiki/Eritrean_nakfa" title="Eritrean nakfa">Eritrean nakfa</a> (ERN)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Fiscal_year" title="Fiscal year">Fiscal year</a></div></th><td class="infobox-data">Calendar year</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Trade organisations</div></th><td class="infobox-data"><a href="/wiki/African_Union" title="African Union">AU</a>, <a href="/wiki/Common_Market_for_Eastern_and_Southern_Africa" title="Common Market for Eastern and Southern Africa">COMESA</a>, <a href="/wiki/African_Development_Bank" title="African Development Bank">AfDB</a></td></tr><tr><th colspan="2" class="infobox-header" style="background:lightblue;">Statistics</th></tr><tr><th scope="row" class="infobox-label"><a href="/wiki/Gross_domestic_product" title="Gross domestic product">GDP</a></th><td class="infobox-data"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style><div class="plainlist"> <ul><li><span typeof="mw:File"><span title="Decrease"><img alt="Decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/11px-Decrease2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/17px-Decrease2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/22px-Decrease2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $2.22 billion (nominal, 2021)<sup id="cite_ref-IMFWEOER_1-0" class="reference"><a href="#cite_note-IMFWEOER-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></li> <li><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $6.88 billion (<a href="/wiki/Purchasing_power_parity" title="Purchasing power parity">PPP</a>, 2021)<sup id="cite_ref-IMFWEOER_1-1" class="reference"><a href="#cite_note-IMFWEOER-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label">GDP rank</th><td class="infobox-data"><a href="/wiki/List_of_countries_by_GDP_(nominal)" title="List of countries by GDP (nominal)">156th</a> (nominal) / <a href="/wiki/List_of_countries_by_GDP_(PPP)" title="List of countries by GDP (PPP)">156th</a> (PPP)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">GDP growth</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li>7.6% (16/17) 10.2% (17/18)</li> <li>7.9% (18/19e) 7.9% (19/20f)<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">GDP per capita</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $626 (nominal, 2021)</li> <li><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $1,910 (<a href="/wiki/Purchasing_power_parity" title="Purchasing power parity">PPP</a>, 2021)<sup id="cite_ref-IMFWEOER_1-2" class="reference"><a href="#cite_note-IMFWEOER-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">GDP by sector</div></th><td class="infobox-data">agriculture (11.7%), industry (29.6%), services (58.7%) (2017 est.)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0; line-height:1.2em"><a href="/wiki/Inflation" title="Inflation">Inflation</a> (<a href="/wiki/Consumer_price_index" title="Consumer price index">CPI</a>)</div></th><td class="infobox-data">−14.401% (2018)<sup id="cite_ref-IMFWEOER_1-3" class="reference"><a href="#cite_note-IMFWEOER-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Population below <span class="nowrap"><a href="/wiki/Poverty_threshold" title="Poverty threshold">poverty line</a></span></div></th><td class="infobox-data">50% (2004 est.)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Labour force</div></th><td class="infobox-data">2.71 million (2017 est.)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Labour force by occupation</div></th><td class="infobox-data">agriculture (80%), services and industry (20%)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Main industries</div></th><td class="infobox-data"><a href="/wiki/Beverages" class="mw-redirect" title="Beverages">beverages</a>, <a href="/wiki/Cement" title="Cement">cement</a>, clothing and textiles, <a href="/wiki/Food_processing" title="Food processing">food processing</a>, light manufacturing, <a href="/wiki/Salt" title="Salt">salt</a></td></tr><tr><th colspan="2" class="infobox-header" style="background:lightblue;">External</th></tr><tr><th scope="row" class="infobox-label">Exports</th><td class="infobox-data">$635.7 million (2017 est.)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Export goods</div></th><td class="infobox-data">food, livestock, small manufactures, sorghum, textiles</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Main export partners</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/23px-Flag_of_Italy.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/35px-Flag_of_Italy.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/45px-Flag_of_Italy.svg.png 2x" data-file-width="1500" data-file-height="1000" /></span></span> </span><a href="/wiki/Italy" title="Italy">Italy</a> 30.5%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/01/Flag_of_Sudan.svg/23px-Flag_of_Sudan.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/01/Flag_of_Sudan.svg/35px-Flag_of_Sudan.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/01/Flag_of_Sudan.svg/46px-Flag_of_Sudan.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Sudan" title="Sudan">Sudan</a> 24%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/23px-Flag_of_Saudi_Arabia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/35px-Flag_of_Saudi_Arabia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/45px-Flag_of_Saudi_Arabia.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> 8.8%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/23px-Flag_of_the_People%27s_Republic_of_China.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/35px-Flag_of_the_People%27s_Republic_of_China.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/45px-Flag_of_the_People%27s_Republic_of_China.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/China" title="China">China</a> 8.5%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/23px-Flag_of_the_United_Kingdom.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/35px-Flag_of_the_United_Kingdom.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/46px-Flag_of_the_United_Kingdom.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/United_Kingdom" title="United Kingdom">UK</a> 5.7%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Egypt.svg/23px-Flag_of_Egypt.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Egypt.svg/35px-Flag_of_Egypt.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Egypt.svg/45px-Flag_of_Egypt.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Egypt" title="Egypt">Egypt</a> 4.8%</li> <li>(2008 est.)</li></ul> </div></td></tr><tr><th scope="row" class="infobox-label">Imports</th><td class="infobox-data">$1.127 billion (2017 est.)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Import goods</div></th><td class="infobox-data">machinery, petroleum products, food, manufactured goods</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Main import partners</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/23px-Flag_of_Saudi_Arabia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/35px-Flag_of_Saudi_Arabia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/45px-Flag_of_Saudi_Arabia.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a> 15.7%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Egypt.svg/23px-Flag_of_Egypt.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Egypt.svg/35px-Flag_of_Egypt.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Egypt.svg/45px-Flag_of_Egypt.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Egypt" title="Egypt">Egypt</a> 11.9%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/23px-Flag_of_the_People%27s_Republic_of_China.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/35px-Flag_of_the_People%27s_Republic_of_China.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/45px-Flag_of_the_People%27s_Republic_of_China.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/China" title="China">China</a> 11.1%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/41/Flag_of_India.svg/23px-Flag_of_India.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/41/Flag_of_India.svg/35px-Flag_of_India.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/41/Flag_of_India.svg/45px-Flag_of_India.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/India" title="India">India</a> 8.9%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/23px-Flag_of_Russia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/35px-Flag_of_Russia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/45px-Flag_of_Russia.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Russia" title="Russia">Russia</a> 7.2%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/a/af/Flag_of_South_Africa.svg/23px-Flag_of_South_Africa.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/af/Flag_of_South_Africa.svg/35px-Flag_of_South_Africa.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/af/Flag_of_South_Africa.svg/45px-Flag_of_South_Africa.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/South_Africa" title="South Africa">South Africa</a> 6.5%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/0/05/Flag_of_Brazil.svg/22px-Flag_of_Brazil.svg.png" decoding="async" width="22" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/0/05/Flag_of_Brazil.svg/33px-Flag_of_Brazil.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/0/05/Flag_of_Brazil.svg/43px-Flag_of_Brazil.svg.png 2x" data-file-width="1000" data-file-height="700" /></span></span> </span><a href="/wiki/Brazil" title="Brazil">Brazil</a> 5.9%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/23px-Flag_of_South_Korea.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/35px-Flag_of_South_Korea.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/45px-Flag_of_South_Korea.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/South_Korea" title="South Korea">South Korea</a> 4.3%</li> <li>(2008 est.)</li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Gross <a href="/wiki/External_debt" title="External debt"><span class="wrap">external debt</span></a></div></th><td class="infobox-data">$1.026 billion (31 December 2012 est.)</td></tr><tr><th colspan="2" class="infobox-header" style="background:lightblue;">Public finances</th></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/List_of_countries_by_government_debt" title="List of countries by government debt"><span class="wrap">Government debt</span></a></div></th><td class="infobox-data">131.2% of GDP (2017 est.)</td></tr><tr><th scope="row" class="infobox-label">Revenues</th><td class="infobox-data">$2.029 billion (2017 est.)</td></tr><tr><th scope="row" class="infobox-label">Expenses</th><td class="infobox-data">$2.601 billion (2017 est.)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Foreign_exchange_reserves" title="Foreign exchange reserves"><span class="wrap">Foreign reserves</span></a></div></th><td class="infobox-data">$236.7 million (2017 est.)</td></tr><tr><td colspan="2" class="infobox-below" style="background:lightblue;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0; line-height:1.25em;padding:0.2em;"> <i>All values, unless otherwise stated, are in <a href="/wiki/United_States_dollar" title="United States dollar">US dollars</a>.</i></div></td></tr></tbody></table> <p><br /> The <b>economy of Eritrea</b> has undergone extreme changes after the <a href="/wiki/Eritrean_War_of_Independence" title="Eritrean War of Independence">War of Independence</a>. It experienced considerable growth in recent years, indicated by an improvement in <a href="/wiki/Gross_domestic_product" title="Gross domestic product">gross domestic product</a> in 2011 of 8.7 percent and in 2012 of 7.5% over 2011,<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> and has a total of $8.090 billion as of 2020. However, worker <a href="/wiki/Remittance" title="Remittance">remittances</a> from abroad are estimated to account for 32 percent of gross domestic product.<sup id="cite_ref-cp_4-0" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Eritrea" title="Eritrea">Eritrea</a> has an extensive amount of resources such as copper, gold, granite, marble, and potash. As of 2012, 20 mining companies had obtained licenses to prospect and exploit mines. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Economic_history">Economic history</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=1" title="Edit section: Economic history"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Unreferenced_section plainlinks metadata ambox ambox-content ambox-Unreferenced" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><a href="/wiki/File:Question_book-new.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/50px-Question_book-new.svg.png" decoding="async" width="50" height="39" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/75px-Question_book-new.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/100px-Question_book-new.svg.png 2x" data-file-width="512" data-file-height="399" /></a></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>does not <a href="/wiki/Wikipedia:Citing_sources" title="Wikipedia:Citing sources">cite</a> any <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">sources</a></b>.<span class="hide-when-compact"> Please help <a href="/wiki/Special:EditPage/Economy_of_Eritrea" title="Special:EditPage/Economy of Eritrea">improve this section</a> by <a href="/wiki/Help:Referencing_for_beginners" title="Help:Referencing for beginners">adding citations to reliable sources</a>. Unsourced material may be challenged and <a href="/wiki/Wikipedia:Verifiability#Burden_of_evidence" title="Wikipedia:Verifiability">removed</a>.</span> <span class="date-container"><i>(<span class="date">May 2023</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <p>Eritrea's recent growth performance has been marked by significant volatility in part due to its dependence on a predominantly rain-fed agriculture sector, accounting for about one-third of the economy and which has a significant impact on distribution services which account for around 20% of gross domestic product (GDP), and on a narrow mining sector which also accounts for 20% of the economy. Real GDP growth is estimated to have recovered to around 12% in 2018, while averaging -2.7% during 2015–18 on account of frequent droughts and a decline in mining production. </p><p>Reported inflation has been negative during 2016–18, following the exchange of currency in circulation in November 2015 that resulted in a monetary contraction. Deflation continued in 2018 as increased trade with Ethiopia resulted in further put downward pressure on prices. </p><p>In recent years, Eritrea has significantly tightened fiscal policy to reverse the chronic deficits it suffered after the increase in regional insecurity in 1998. In 2018, the fiscal surplus widened to around 11% of GDP. This was largely achieved by a sharp drop in capital spending as well as some revenue measures. However, fiscal pressures, both recurrent and wage-related are likely to mount. </p><p>Short-term growth prospects remain challenging given fiscal constraints and limited opportunities under existing restrictions. The recovery in agriculture is expected to slow. The country remains in a difficult macroeconomic situation with an unsustainable debt burden (including arrears to the World Bank) and vulnerable financial and external sectors. </p> <div class="mw-heading mw-heading2"><h2 id="Gross_domestic_product_(GDP)"><span id="Gross_domestic_product_.28GDP.29"></span>Gross domestic product (GDP)</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=2" title="Edit section: Gross domestic product (GDP)"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Eritrea's GDP, estimated at $4.037 billion in 2011, was 8.7 percent above the GDP in 2010.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> The growth was due to increased agricultural output and the expansion of the mining industry along with increasing gold prices. Breakdowns of the Eritrean economy by sector have not been readily available; however, according to some estimates, in 2011 services accounted for 55 percent of the GDP, industry for 34 percent, and agriculture for the remaining 11 percent.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> The growth of the GDP, however, is compromised by the ongoing and tensions with the country's borders. </p> <div class="mw-heading mw-heading2"><h2 id="Industries">Industries</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=3" title="Edit section: Industries"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Agriculture,_Forestry,_and_Fishing"><span id="Agriculture.2C_Forestry.2C_and_Fishing"></span>Agriculture, Forestry, and Fishing</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=4" title="Edit section: Agriculture, Forestry, and Fishing"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Agriculture_in_Eritrea" title="Agriculture in Eritrea">Agriculture in Eritrea</a></div> <p>In 2004, <a href="/wiki/Agriculture" title="Agriculture">agriculture</a> employed nearly 80 percent of the population but accounted for only 12.4 percent of gross domestic product (GDP) in Eritrea. The agricultural sector has improved with the use of modern farming equipment and techniques, and dams. Nevertheless, it is compromised by a lack of financial services and investment. Major agricultural products are <a href="/wiki/Sorghum" title="Sorghum">sorghum</a>, <a href="/wiki/Barley" title="Barley">barley</a>, <a href="/wiki/Beans" class="mw-redirect" title="Beans">beans</a>, <a href="/wiki/Dairy_products" class="mw-redirect" title="Dairy products">dairy products</a>, <a href="/wiki/Lentil" title="Lentil">lentils</a>, <a href="/wiki/Meat" title="Meat">meat</a>, <a href="/wiki/Millet" title="Millet">millet</a>, <a href="/wiki/Skinning" title="Skinning">leather</a>, <a href="/wiki/Teff" title="Teff">teff</a>, and <a href="/wiki/Wheat" title="Wheat">wheat</a>. The displacement of 1 million Eritreans as a result of the war with Ethiopia, and the widespread presence of <a href="/wiki/Land_mines" class="mw-redirect" title="Land mines">land mines</a> have played a role in the declining productivity of the agricultural sector. Almost a quarter of the country's most productive land remains<sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Dates_and_numbers#Chronological_items" title="Wikipedia:Manual of Style/Dates and numbers"><span title="The time period mentioned near this tag is ambiguous. (May 2023)">when?</span></a></i>]</sup> unoccupied because of the lingering effects of the 1998–2000 war with Ethiopia.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (May 2023)">citation needed</span></a></i>]</sup> </p><p><a href="/wiki/Forestry" title="Forestry">Forestry</a> is not a significant economic activity in Eritrea.<sup id="cite_ref-cp_4-1" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>As of 2011, the government encouraged large-scale cultivation of cactus to help alleviate the human suffering and, in the future, increase export revenues. Cactus plants are said to have been introduced in 1839 by a French Catholic missionary who planted the cactus in Digsa, Akrur and Hebo, Southern region. The second generation of cactus plants were introduced by the Italians, who planted them at Arberebu while they were building the Asmara rail lines.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>Reliable figures on the extent and value of the <a href="/wiki/Fishing_industry" title="Fishing industry">fishing industry</a> in Eritrea are difficult to obtain. However, Eritrea's long coastline offers the opportunity for significant expansion of the fishing industry from its current, largely artisanal, stage. Eritrea exports fish and sea cucumbers from the Red Sea to markets in Europe and Asia, and there is hope that the construction of a new, jet-capable airport in <a href="/wiki/Massawa" title="Massawa">Massawa</a>, as well as rehabilitation of the port there, may support increased exports of high-value seafood. In 2002, exports were about 14,000 tons, but the maximum stable yield is thought to be nearly 80,000 tons. A fish processing plant was built in 1998 that now exports 150 tons of frozen fish every month to markets in <a href="/wiki/United_Kingdom" title="United Kingdom">Britain</a>, <a href="/wiki/Germany" title="Germany">Germany</a>, and the <a href="/wiki/Netherlands" title="Netherlands">Netherlands</a>. Tensions with <a href="/wiki/Yemen" title="Yemen">Yemen</a> over fishing rights in the <a href="/wiki/Red_Sea" title="Red Sea">Red Sea</a> flared up in 1995 and again in 2002, and Eritrea's difficult relations with other nations could hamper further development of the industry.<sup id="cite_ref-cp_4-2" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Mining_and_minerals">Mining and minerals</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=5" title="Edit section: Mining and minerals"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Update plainlinks metadata ambox ambox-content ambox-Update" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/98/Ambox_current_red.svg/42px-Ambox_current_red.svg.png" decoding="async" width="42" height="34" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/98/Ambox_current_red.svg/63px-Ambox_current_red.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/98/Ambox_current_red.svg/84px-Ambox_current_red.svg.png 2x" data-file-width="360" data-file-height="290" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section needs to be <b>updated</b>.<span class="hide-when-compact"> Please help update this article to reflect recent events or newly available information.</span> <span class="date-container"><i>(<span class="date">May 2023</span>)</i></span></div></td></tr></tbody></table> <p>As of 2001, Eritrea's substantial mineral deposits were largely unexplored. According to the Eritrean government, <a href="/wiki/Artisanal_mining" title="Artisanal mining">artisanal mining</a> in 1998 collected 573.4 kilograms of <a href="/wiki/Gold" title="Gold">gold</a>, however the number of gold reserves was unknown. International observers also have noted Eritrea's potential for quarrying ornamental marble and granite. As of 2001, some 10 mining companies had obtained licenses to prospect for different minerals in Eritrea. The government of Eritrea reportedly was in the process of conducting a geological survey for use by potential investors in the mining sector. The presence of hundreds of thousands of land mines in Eritrea, particularly along the border with Ethiopia, has presented a serious impediment to future development of the mining sector.<sup id="cite_ref-cp_4-3" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>In 2011, AngloGold Ashanti moved into Eritrea to explore the <a href="/wiki/Arabian-Nubian_Shield" title="Arabian-Nubian Shield">Arabian-Nubian Shield</a> for gold through a 50/50 joint venture set up in 2009 with Thani Dubai Mining.<sup id="cite_ref-mining_8-0" class="reference"><a href="#cite_note-mining-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p><p>In 2011, the Australian Chalice mining company applied through a 60/40 joint venture for a mining license for 18 years.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>Also in 2011, <a href="/wiki/Nevsun_Resources" title="Nevsun Resources">Nevsun Resources</a> completed construction of its Bisha gold mining project. Estimated production was to be 350,000 ounces of gold per year until the gold ore is exhausted, at which point the mine would produce copper and zinc.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p><p>As of 2012, nine explorer companies operated in Eritrea from Canada (NGEx Resources), Australia (Chalice Gold Mines, South Boulder Mines, Sunridge Gold Corp), China (<a href="/wiki/Sichuan_Road_and_Bridge_Group" title="Sichuan Road and Bridge Group">Sichuan Road and Bridge Group</a>, Zhong Chang Mining Co, China Africa Huakan Investment Co., Land Energy Group (China) Ltd, Beijing Donia Resources Co.), the UK (London Africa Ltd, Andiamo Exploration Ltd.), the UAE and Barbados.<sup id="cite_ref-ecss_11-0" class="reference"><a href="#cite_note-ecss-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Industry_and_Manufacturing">Industry and Manufacturing</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=6" title="Edit section: Industry and Manufacturing"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>During the period of federation, industrial capacity largely shifted to Ethiopia, leaving the Eritrean industrial sector with outmoded capital equipment. In 2003 industry accounted for 25.3 percent of gross domestic product. Major products include processed food and dairy products, alcoholic beverages, glass, leather goods, marble, textiles, and salt.<sup id="cite_ref-cp_4-4" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Energy">Energy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=7" title="Edit section: Energy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Energy_in_Eritrea" title="Energy in Eritrea">Energy in Eritrea</a></div> <p>Households consume more than 80 percent of total energy production. <a href="/wiki/Electricity_production" class="mw-redirect" title="Electricity production">Electricity production</a> in 2001 was estimated at 220.5 million kilowatt-hours. Consumption for that year was estimated at 205.1-kilowatt hours. An 88-megawatt electricity plant funded by <a href="/wiki/Saudi_Arabia" title="Saudi Arabia">Saudi Arabia</a>, <a href="/wiki/Kuwait" title="Kuwait">Kuwait</a>, and <a href="/wiki/Abu_Dhabi" title="Abu Dhabi">Abu Dhabi</a> was completed just south of Massawa in 2003, its completion delayed nearly three years by the war with Ethiopia. Annual consumption of petroleum in 2001 was estimated at 370,000 tons. Eritrea has no domestic petroleum production; the Eritrean Petroleum Corporation conducts purchases through international competitive tender. According to the U.S. Department of Commerce, opportunities exist for both on- and offshore oil and natural gas exploration; however, these prospects have yet to come to fruition. The use of <a href="/wiki/Wind_energy" class="mw-redirect" title="Wind energy">Wind energy</a> and <a href="/wiki/Solar_power" title="Solar power">solar power</a> have slightly increased, due to the growth of solar power manufacturing companies in the country. The Eritrean government has expressed interest in developing alternative energy sources, including geothermal, solar, and wind power.<sup id="cite_ref-cp_4-5" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Asmara,_cinema_impero,_01.JPG" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/00/Asmara%2C_cinema_impero%2C_01.JPG/220px-Asmara%2C_cinema_impero%2C_01.JPG" decoding="async" width="220" height="147" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/00/Asmara%2C_cinema_impero%2C_01.JPG/330px-Asmara%2C_cinema_impero%2C_01.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/00/Asmara%2C_cinema_impero%2C_01.JPG/440px-Asmara%2C_cinema_impero%2C_01.JPG 2x" data-file-width="3456" data-file-height="2304" /></a><figcaption>Harnet Avenue in Asmara</figcaption></figure> <div class="mw-heading mw-heading3"><h3 id="Services">Services</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=8" title="Edit section: Services"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 2011, services accounted for 55 percent of gross domestic product. Financial services, the bulk of the services sector, are principally rendered by the <a href="/wiki/National_Bank_of_Eritrea" class="mw-redirect" title="National Bank of Eritrea">National Bank of Eritrea</a> (the nation's central bank), the Commercial Bank of Eritrea, the Housing and Commerce Bank of Eritrea, the Agricultural and Industrial Bank of Eritrea, the Eritrean Investment and Development Bank, and the National Insurance Corporation of Eritrea.<sup id="cite_ref-cp_4-6" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Tourism">Tourism</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=9" title="Edit section: Tourism"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Tourism_in_Eritrea" class="mw-redirect" title="Tourism in Eritrea">Tourism in Eritrea</a></div> <p>Eritrea's lack of access to funds, the presence of large numbers of land mines, and the continued <a href="/wiki/Eritrea-Ethiopia_relations" class="mw-redirect" title="Eritrea-Ethiopia relations">tensions that flare up between Eritrea and Ethiopia</a> have deterred the development of a <a href="/wiki/Tourist_industry" class="mw-redirect" title="Tourist industry">tourist industry</a> in Eritrea. According to the <a href="/wiki/World_Tourism_Organization" class="mw-redirect" title="World Tourism Organization">World Tourism Organization</a>, international tourism receipts in 2002 were only US$73 million.<sup id="cite_ref-cp_4-7" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Banking_and_Finance">Banking and Finance</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=10" title="Edit section: Banking and Finance"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Banking_in_Eritrea" title="Banking in Eritrea">Banking in Eritrea</a></div> <p>According to the <a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a>, commercial banks in Eritrea—all government owned and operated—appear to be in compliance with prudent regulations. Although the commercial banking sector is largely profitable, mostly owing to income from foreign exchange transactions, the sector is burdened by a high proportion of non-performing loans. Core lending activities do not generate sufficient income to cover operating costs at most commercial banks.<sup id="cite_ref-cp_4-8" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Labor_force">Labor force</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=11" title="Edit section: Labor force"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Agriculture employs about 80 percent of the population in Eritrea, and the remaining 20 percent are employed in industry and services. The GDP per capita at nominal value was $475 in 2011. </p> <div class="mw-heading mw-heading2"><h2 id="Currency,_exchange_rate,_and_inflation"><span id="Currency.2C_exchange_rate.2C_and_inflation"></span>Currency, exchange rate, and inflation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=12" title="Edit section: Currency, exchange rate, and inflation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The official currency is the <a href="/wiki/Eritrean_nakfa" title="Eritrean nakfa">Eritrean nakfa</a> (ERN), introduced in November 1997. In early 2005, likely in an effort to increase foreign capital reserves, the Eritrean government decreed that all transactions in Eritrea must be conducted in nakfa. It soon became illegal for individuals to hold and exchange foreign currency. As of January 1, 2005, the government set the foreign exchange rate at US$1=ERN15.<sup id="cite_ref-cp_4-9" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Inflation" title="Inflation">Inflation</a> continues to be a problem in Eritrea, particularly as years of drought push grain prices higher and defense expenditures remain high. The International Monetary Fund estimates that in 2003 (the most recent year for which figures are available) average inflation reached 23 percent.<sup id="cite_ref-cp_4-10" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Massawa_Highway_(8527952867).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/6/6e/Massawa_Highway_%288527952867%29.jpg/220px-Massawa_Highway_%288527952867%29.jpg" decoding="async" width="220" height="165" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/6e/Massawa_Highway_%288527952867%29.jpg/330px-Massawa_Highway_%288527952867%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/6/6e/Massawa_Highway_%288527952867%29.jpg/440px-Massawa_Highway_%288527952867%29.jpg 2x" data-file-width="1024" data-file-height="768" /></a><figcaption>The Massawa-Asmara Highway, built as part of the <a href="/wiki/Wefri_Warsay_Yika%27alo" title="Wefri Warsay Yika'alo">Wefri Warsay Yika'alo</a> program.</figcaption></figure> <div class="mw-heading mw-heading2"><h2 id="Government_budget">Government budget</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=13" title="Edit section: Government budget"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Eritrea does not publish a budget, making its fiscal condition difficult to assess. According to the International Monetary Fund, the overall fiscal deficit in 2003 was 17 percent of gross domestic product (GDP). Government expenditures for that year were estimated to be US$375 million, with revenues of only US$235.7 million. In 2002 the fiscal deficit was 32 percent of GDP. Current expenditures continue to exceed budgeted spending, particularly in defense and other discretionary expenditures. Monetary policy remains subservient to the financing demands of the government, and debt is unsustainably high. This situation is not likely to change until demobilization of the military occurs.<sup id="cite_ref-cp_4-11" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> According to the CIA World Factbook, the Eritrean Government has revenues of $715.2 million, and outlays of $1.021 billion.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Foreign_economic_relations">Foreign economic relations</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=14" title="Edit section: Foreign economic relations"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/China" title="China">China</a>, <a href="/wiki/India" title="India">India</a>, <a href="/wiki/South_Korea" title="South Korea">South Korea</a>, <a href="/wiki/Italy" title="Italy">Italy</a>, <a href="/wiki/South_Africa" title="South Africa">South Africa</a>, and <a href="/wiki/Germany" title="Germany">Germany</a> are aggressively pursuing market opportunities in Eritrea. There is growing interest in U.S. products and services in Eritrea, although U.S. investment in Eritrea is still small.<sup id="cite_ref-cp_4-12" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>In 2011, Eritrea imported goods worth US$899.9 million, including machinery, petroleum products, food, and manufactured goods. Eritrea's main suppliers were Brazil, China, Egypt, India, Italy, Germany, Saudi Arabia, and South Africa. In 2011 exports from Eritrea were valued at US$415.4 million, and the bulk were food, livestock, small manufactures, sorghum, and textiles. The major markets for Eritrean goods were China, Egypt, Italy, Saudi Arabia, Sudan, and the UK. More recently, fish, flowers, and salt have joined the list of exports. </p><p>Foreign investment is hindered by government regulations that seek to protect domestic industries from foreign competition and by a generally unfavorable investment climate. Major foreign investors in Eritrea include China, South Korea, Italy, South Africa, and Germany, as well as the <a href="/wiki/World_Bank" title="World Bank">World Bank</a>.<sup id="cite_ref-cp_4-13" class="reference"><a href="#cite_note-cp-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>The government prefers private-sector investment to official aid programs and declines foreign aid; therefore its relations with aid-dispensing nations and international institutions have often been difficult. </p><p>On 16 September 2018, Eritrean President <a href="/wiki/Isaias_Afwerki" title="Isaias Afwerki">Isaias Afwerki</a> and Ethiopian Prime Minister <a href="/wiki/Abiy_Ahmed" title="Abiy Ahmed">Abiy Ahmed</a> signed a peace agreement in Jeddah, Saudi Arabia between the two countries after a bitter war that lasted 20 years (from 1998 to 2018). The two neighbouring countries ceased hostilities and restored trade and diplomatic ties, and planned joint projects.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=15" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1259569809">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}</style><ul role="navigation" aria-label="Portals" class="noprint portalbox portalborder portalright"> <li class="portalbox-entry"><span class="portalbox-image"><span class="mw-image-border noviewer" typeof="mw:File"><span><img alt="flag" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/29/Flag_of_Eritrea.svg/32px-Flag_of_Eritrea.svg.png" decoding="async" width="32" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/29/Flag_of_Eritrea.svg/48px-Flag_of_Eritrea.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/29/Flag_of_Eritrea.svg/64px-Flag_of_Eritrea.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span></span><span class="portalbox-link"><a href="/wiki/Portal:Eritrea" title="Portal:Eritrea">Eritrea portal</a></span></li></ul> <ul><li><a href="/wiki/Eritrea" title="Eritrea">Eritrea</a></li> <li><a href="/wiki/Banking_in_Eritrea" title="Banking in Eritrea">Banking in Eritrea</a></li> <li><a href="/wiki/List_of_companies_based_in_Eritrea" title="List of companies based in Eritrea">List of companies based in Eritrea</a></li> <li><a href="/wiki/United_Nations_Economic_Commission_for_Africa" title="United Nations Economic Commission for Africa">United Nations Economic Commission for Africa</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Eritrea&action=edit&section=16" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-IMFWEOER-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-IMFWEOER_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-IMFWEOER_1-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-IMFWEOER_1-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-IMFWEOER_1-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.imf.org/en/Countries/ERI#countrydata">"World Economic Outlook Database, October 2019"</a>. <i>IMF.org</i>. <a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a><span class="reference-accessdate">. Retrieved <span class="nowrap">2 August</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=IMF.org&rft.atitle=World+Economic+Outlook+Database%2C+October+2019&rft_id=https%3A%2F%2Fwww.imf.org%2Fen%2FCountries%2FERI%23countrydata&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomy+of+Eritrea" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://openknowledge.worldbank.org/bitstream/handle/10986/31655/9781464813986.pdf">"Global Economic Prospects, June 2019: Heightened Tensions, Subdued Investment. p. 127"</a> <span class="cs1-format">(PDF)</span>. <i>openknowledge.worldbank.org</i>. <a href="/wiki/World_Bank" title="World Bank">World Bank</a><span class="reference-accessdate">. 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Retrieved <span class="nowrap">2023-05-18</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Mining+and+Exploration+Activities+in+Eritrea&rft.date=2012-10&rft.au=Eritrean+Center+for+Strategic+Studies&rft_id=https%3A%2F%2Fwww.ecss-online.com%2Fmining-and-exploration-activities%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomy+of+Eritrea" class="Z3988"></span></span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.cia.gov/the-world-factbook/countries/eritrea/">The World Factbook</a>|<sup class="noprint Inline-Template"><span style="white-space: nowrap;">[<i><a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot"><span title=" Dead link tagged August 2019">permanent dead link</span></a></i><span style="visibility:hidden; color:transparent; padding-left:2px">‍</span>]</span></sup> CIA - The World Factbook</span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.un.org/africarenewal/magazine/december-2018-march-2019/after-making-peace-ethiopia-and-eritrea-now-focus-development">"After making peace, Ethiopia and Eritrea now focus on development"</a>. <i>Africa Renewal</i>. 2018-12-07<span class="reference-accessdate">. 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href="/wiki/Economy_of_Burundi" title="Economy of Burundi">Burundi</a></li> <li><a href="/wiki/Economy_of_Cameroon" title="Economy of Cameroon">Cameroon</a></li> <li><a href="/wiki/Economy_of_Cape_Verde" title="Economy of Cape Verde">Cape Verde</a></li> <li><a href="/wiki/Economy_of_the_Central_African_Republic" title="Economy of the Central African Republic">Central African Republic</a></li> <li><a href="/wiki/Economy_of_Chad" title="Economy of Chad">Chad</a></li> <li><a href="/wiki/Economy_of_the_Comoros" title="Economy of the Comoros">Comoros</a></li> <li><a href="/wiki/Economy_of_the_Democratic_Republic_of_the_Congo" title="Economy of the Democratic Republic of the Congo">Democratic Republic of the Congo</a></li> <li><a href="/wiki/Economy_of_the_Republic_of_the_Congo" title="Economy of the Republic of the Congo">Republic of the Congo</a></li> <li><a href="/wiki/Economy_of_Djibouti" title="Economy of Djibouti">Djibouti</a></li> <li><a href="/wiki/Economy_of_Egypt" title="Economy of Egypt">Egypt</a></li> <li><a href="/wiki/Economy_of_Equatorial_Guinea" title="Economy of Equatorial Guinea">Equatorial Guinea</a></li> <li><a class="mw-selflink selflink">Eritrea</a></li> <li><a href="/wiki/Economy_of_Eswatini" title="Economy of Eswatini">Eswatini</a></li> <li><a href="/wiki/Economy_of_Ethiopia" title="Economy of Ethiopia">Ethiopia</a></li> <li><a href="/wiki/Economy_of_Gabon" title="Economy of Gabon">Gabon</a></li> <li><a href="/wiki/Economy_of_the_Gambia" title="Economy of the Gambia">The Gambia</a></li> <li><a href="/wiki/Economy_of_Ghana" title="Economy of Ghana">Ghana</a></li> <li><a href="/wiki/Economy_of_Guinea" title="Economy of Guinea">Guinea</a></li> <li><a href="/wiki/Economy_of_Guinea-Bissau" title="Economy of Guinea-Bissau">Guinea-Bissau</a></li> <li><a href="/wiki/Economy_of_Ivory_Coast" title="Economy of Ivory Coast">Ivory Coast</a></li> <li><a href="/wiki/Economy_of_Kenya" title="Economy of Kenya">Kenya</a></li> <li><a href="/wiki/Economy_of_Lesotho" title="Economy of Lesotho">Lesotho</a></li> <li><a href="/wiki/Economy_of_Liberia" title="Economy of Liberia">Liberia</a></li> <li><a href="/wiki/Economy_of_Libya" title="Economy of Libya">Libya</a></li> <li><a href="/wiki/Economy_of_Madagascar" title="Economy of Madagascar">Madagascar</a></li> <li><a href="/wiki/Economy_of_Malawi" title="Economy of Malawi">Malawi</a></li> <li><a href="/wiki/Economy_of_Mali" title="Economy of Mali">Mali</a></li> <li><a href="/wiki/Economy_of_Mauritania" title="Economy of Mauritania">Mauritania</a></li> <li><a href="/wiki/Economy_of_Mauritius" title="Economy of Mauritius">Mauritius</a></li> <li><a href="/wiki/Economy_of_Morocco" title="Economy of Morocco">Morocco</a></li> <li><a href="/wiki/Economy_of_Mozambique" title="Economy of Mozambique">Mozambique</a></li> <li><a href="/wiki/Economy_of_Namibia" title="Economy of Namibia">Namibia</a></li> <li><a href="/wiki/Economy_of_Niger" title="Economy of Niger">Niger</a></li> <li><a href="/wiki/Economy_of_Nigeria" title="Economy of Nigeria">Nigeria</a></li> <li><a href="/wiki/Economy_of_Rwanda" title="Economy of Rwanda">Rwanda</a></li> <li><a href="/wiki/Economy_of_S%C3%A3o_Tom%C3%A9_and_Pr%C3%ADncipe" title="Economy of São Tomé and Príncipe">São Tomé and Príncipe</a></li> <li><a href="/wiki/Economy_of_Senegal" title="Economy of Senegal">Senegal</a></li> <li><a href="/wiki/Economy_of_Seychelles" title="Economy of Seychelles">Seychelles</a></li> <li><a href="/wiki/Economy_of_Sierra_Leone" title="Economy of Sierra Leone">Sierra Leone</a></li> <li><a href="/wiki/Economy_of_Somalia" title="Economy of Somalia">Somalia</a></li> <li><a href="/wiki/Economy_of_South_Africa" title="Economy of South Africa">South Africa</a></li> <li><a href="/wiki/Economy_of_South_Sudan" title="Economy of South Sudan">South Sudan</a></li> <li><a href="/wiki/Economy_of_Sudan" title="Economy of Sudan">Sudan</a></li> <li><a href="/wiki/Economy_of_Tanzania" title="Economy of Tanzania">Tanzania</a></li> <li><a href="/wiki/Economy_of_Togo" title="Economy of Togo">Togo</a></li> <li><a href="/wiki/Economy_of_Tunisia" title="Economy of Tunisia">Tunisia</a></li> <li><a href="/wiki/Economy_of_Uganda" title="Economy of Uganda">Uganda</a></li> <li><a href="/wiki/Economy_of_Zambia" title="Economy of Zambia">Zambia</a></li> <li><a href="/wiki/Economy_of_Zimbabwe" title="Economy of Zimbabwe">Zimbabwe</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">States with limited<br />recognition</div></th><td class="navbox-list-with-group navbox-list navbox-even hlist wraplinks" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economy_of_the_Sahrawi_Arab_Democratic_Republic" class="mw-redirect" title="Economy of the Sahrawi Arab Democratic Republic">Sahrawi Arab Democratic Republic</a></li> <li><a href="/wiki/Economy_of_Somaliland" title="Economy of Somaliland">Somaliland</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Dependencies and<br />other territories</div></th><td class="navbox-list-with-group navbox-list navbox-odd hlist wraplinks" style="width:100%;padding:0"><div style="padding:0 0.25em"><div> <ul><li><a href="/wiki/Economy_of_the_Canary_Islands" class="mw-redirect" title="Economy of the Canary Islands">Canary Islands</a> / <a href="/wiki/Economy_of_Ceuta" class="mw-redirect" title="Economy of Ceuta">Ceuta</a> / <a href="/wiki/Economy_of_Melilla" class="mw-redirect" title="Economy of Melilla">Melilla</a>  <span style="font-size:85%;">(Spain)</span></li> <li><a href="/wiki/Economy_of_Madeira" class="mw-redirect" title="Economy of Madeira">Madeira</a> <span style="font-size:85%;">(Portugal)</span></li> <li><a href="/wiki/Economy_of_Mayotte" title="Economy of Mayotte">Mayotte</a> / <a href="/wiki/Economy_of_R%C3%A9union" title="Economy of Réunion">Réunion</a> <span style="font-size:85%;">(France)</span></li> <li><a href="/wiki/Economy_of_Saint_Helena" title="Economy of Saint Helena">Saint Helena</a> / <a href="/wiki/Economy_of_Ascension_Island" class="mw-redirect" title="Economy of Ascension Island">Ascension Island</a> / <a href="/wiki/Economy_of_Tristan_da_Cunha" class="mw-redirect" title="Economy of Tristan da Cunha">Tristan da Cunha</a> <span style="font-size:85%;">(United Kingdom)</span></li> <li><a href="/wiki/Economy_of_Western_Sahara" title="Economy of Western Sahara">Western Sahara</a></li></ul> </div></div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><style data-mw-deduplicate="TemplateStyles:r886047488">.mw-parser-output .nobold{font-weight:normal}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r886047488"></div><div role="navigation" class="navbox" aria-labelledby="Eritrea_articles" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="3"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Eritrea_topics" title="Template:Eritrea topics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Eritrea_topics" title="Template talk:Eritrea topics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Eritrea_topics" title="Special:EditPage/Template:Eritrea topics"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Eritrea_articles" style="font-size:114%;margin:0 4em"><a href="/wiki/Eritrea" title="Eritrea">Eritrea</a> <a href="/wiki/Index_of_Eritrea-related_articles" title="Index of Eritrea-related articles">articles</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_Eritrea" title="History of Eritrea">History</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/D%CA%BFmt" title="Dʿmt">Kingdom of Dʿmt</a></li> <li><a href="/wiki/Kingdom_of_Aksum" title="Kingdom of Aksum">Kingdom of Aksum</a></li> <li><a href="/wiki/Medri_Bahri" title="Medri Bahri">Medri Bahri</a></li> <li><a href="/wiki/Italian_Eritrea" title="Italian Eritrea">Italian Eritrea</a></li> <li><a href="/wiki/East_African_campaign_(World_War_II)" title="East African campaign (World War II)">World War II</a></li> <li><a href="/wiki/Eritrean_Civil_Wars" title="Eritrean Civil Wars">Civil wars</a></li> <li><a href="/wiki/Eritrean_War_of_Independence" title="Eritrean War of Independence">War of Independence</a></li> <li><a href="/wiki/Eritrean%E2%80%93Ethiopian_War" title="Eritrean–Ethiopian War">Eritrean–Ethiopian War</a> <ul><li><a href="/wiki/Eritrean%E2%80%93Ethiopian_border_conflict" title="Eritrean–Ethiopian border conflict">border conflict</a></li> <li><a href="/wiki/2018_Eritrea%E2%80%93Ethiopia_summit" title="2018 Eritrea–Ethiopia summit">2018 peace summit</a></li></ul></li> <li><a href="/wiki/Djiboutian%E2%80%93Eritrean_border_conflict" title="Djiboutian–Eritrean border conflict">Djiboutian–Eritrean conflict</a></li> <li><a href="/wiki/Tigray_War" class="mw-redirect" title="Tigray War">Tigray War</a> <ul><li><a href="/wiki/Eritrean_involvement_in_the_Tigray_War" class="mw-redirect" title="Eritrean involvement in the Tigray War">Involvement</a></li></ul></li></ul> </div></td><td class="noviewer navbox-image" rowspan="5" style="width:1px;padding:0 0 0 2px"><div><span typeof="mw:File"><a href="/wiki/Coat_of_arms_of_Eritrea" title="Coat of arms of Eritrea"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/36/Emblem_of_Eritrea_%28or_argent_azur%29.svg/100px-Emblem_of_Eritrea_%28or_argent_azur%29.svg.png" decoding="async" width="100" height="98" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/36/Emblem_of_Eritrea_%28or_argent_azur%29.svg/150px-Emblem_of_Eritrea_%28or_argent_azur%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/36/Emblem_of_Eritrea_%28or_argent_azur%29.svg/200px-Emblem_of_Eritrea_%28or_argent_azur%29.svg.png 2x" data-file-width="602" data-file-height="591" /></a></span></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Geography_of_Eritrea" title="Geography of Eritrea">Geography</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_cities_in_Eritrea" title="List of cities in Eritrea">Cities</a></li> <li><a href="/wiki/Districts_of_Eritrea" class="mw-redirect" title="Districts of Eritrea">Districts</a></li> <li><a href="/wiki/List_of_earthquakes_in_Eritrea" title="List of earthquakes in Eritrea">Earthquakes</a></li> <li><a href="/wiki/Category:Mountains_of_Eritrea" title="Category:Mountains of Eritrea">Mountains</a></li> <li><a href="/wiki/Provinces_of_Eritrea" title="Provinces of Eritrea">Provinces</a></li> <li><a href="/wiki/Regions_of_Eritrea" title="Regions of Eritrea">Regions</a></li> <li><a href="/wiki/List_of_rivers_of_Eritrea" title="List of rivers of Eritrea">Rivers</a></li> <li><a href="/wiki/Wildlife_of_Eritrea" title="Wildlife of Eritrea">Wildlife</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Politics_of_Eritrea" title="Politics of Eritrea">Politics</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Constitution_of_Eritrea" title="Constitution of Eritrea">Constitution</a></li> <li><a href="/wiki/Elections_in_Eritrea" title="Elections in Eritrea">Elections</a></li> <li><a href="/wiki/Foreign_relations_of_Eritrea" title="Foreign relations of Eritrea">Foreign relations</a></li> <li><a href="/wiki/Politics_of_Eritrea#Executive_branch" title="Politics of Eritrea">Government</a> <ul><li><a href="/wiki/Cabinet_of_Ministers_of_Eritrea" title="Cabinet of Ministers of Eritrea">Cabinet</a></li></ul></li> <li><a href="/wiki/Human_rights_in_Eritrea" title="Human rights in Eritrea">Human rights</a> <ul><li><a href="/wiki/LGBT_rights_in_Eritrea" class="mw-redirect" title="LGBT rights in Eritrea">LGBT</a></li></ul></li> <li><a href="/wiki/International_rankings_of_Eritrea" title="International rankings of Eritrea">International rankings</a></li> <li><a href="/wiki/Eritrean_Defence_Forces" title="Eritrean Defence Forces">Military</a> <ul><li><a href="/wiki/Conscription_in_Eritrea" title="Conscription in Eritrea">Conscription</a></li></ul></li> <li><a href="/wiki/List_of_political_parties_in_Eritrea" title="List of political parties in Eritrea">Political parties</a></li> <li><a href="/wiki/List_of_heads_of_state_of_Eritrea" title="List of heads of state of Eritrea">President</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a class="mw-selflink selflink">Economy</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Agriculture_in_Eritrea" title="Agriculture in Eritrea">Agriculture</a></li> <li><a href="/wiki/List_of_companies_based_in_Eritrea" title="List of companies based in Eritrea">Companies</a></li> <li><a href="/wiki/Energy_in_Eritrea" title="Energy in Eritrea">Energy</a></li> <li><a href="/wiki/Eritrean_nakfa" title="Eritrean nakfa">Nakfa <span style="font-size:85%;">(currency)</span></a></li> <li><a href="/wiki/Telecommunications_in_Eritrea" title="Telecommunications in Eritrea">Telecommunications</a></li> <li><a href="/wiki/Tourism_in_Eritrea" class="mw-redirect" title="Tourism in Eritrea">Tourism</a></li> <li><a href="/wiki/Transport_in_Eritrea" title="Transport in Eritrea">Transport</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Culture_of_Eritrea" title="Culture of Eritrea">Culture</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Eritrean_cuisine" title="Eritrean cuisine">Cuisine</a></li> <li><a href="/wiki/Flag_of_Eritrea" title="Flag of Eritrea">Flag</a></li> <li><a href="/wiki/Independence_Day_(Eritrea)" title="Independence Day (Eritrea)">Independence Day</a></li> <li><a href="/wiki/Eritrean_literature" title="Eritrean literature">Literature</a></li> <li><a href="/wiki/Media_of_Eritrea" class="mw-redirect" title="Media of Eritrea">Media</a></li> <li><a href="/wiki/Music_of_Eritrea" title="Music of Eritrea">Music</a></li> <li><a href="/wiki/Public_holidays_in_Eritrea" title="Public holidays in Eritrea">Public holidays</a></li> <li><a href="/wiki/Sport_in_Eritrea" title="Sport in Eritrea">Sport</a> <ul><li><a href="/wiki/Eritrea_at_the_Olympics" title="Eritrea at the Olympics">Olympics</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;padding-left:0.5em;padding-right:0.5em;font-weight:normal;"><a href="/wiki/Demographics_of_Eritrea" title="Demographics of Eritrea">Demographics</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Education_in_Eritrea" title="Education in Eritrea">Education</a></li> <li><a href="/wiki/Ethnic_groups_in_Eritrea" class="mw-redirect" title="Ethnic groups in Eritrea">Ethnic groups</a></li> <li><a href="/wiki/Health_in_Eritrea" title="Health in Eritrea">Health</a></li> <li><a href="/wiki/Languages_of_Eritrea" title="Languages of Eritrea">Languages</a></li> <li><a href="/wiki/List_of_Eritreans" title="List of Eritreans">List of Eritreans</a></li> <li><a href="/wiki/Religion_in_Eritrea" title="Religion in Eritrea">Religion</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="3" style="font-weight:bold;"><div><div style="margin-bottom:-0.4em;"><ul><li><span class="nobold"><a href="/wiki/Outline_of_Eritrea" title="Outline of Eritrea">Outline</a></span></li><li><span class="nobold"><a href="/wiki/Index_of_Eritrea-related_articles" title="Index of Eritrea-related articles">Index</a></span></li></ul></div> <ul><li><a href="/wiki/Category:Eritrea" title="Category:Eritrea">Category</a></li> <li><a href="/wiki/Portal:Eritrea" 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