Eritrea Economy

Eritrea Economy  | read this item

The economy of Eritrea is said to be agriculture based one with 80% of total labor force. Its annual growth rate is about 4.8%.

Economic indicators were the following. The GDP touched $700 million, per capita income was $900, per capita GNI calculated $180 according to World Bank Atlas method in 2004.

The economy of Eritrea is known as an agrarian economy. We observe cotton, fruit and vegetables, hides, meat among main exports.

Besides, there does exist an industrial sector which actually needs skilled labor and infrastructure. Several natural resources, such as copper, zinc, lead, gold, make a contribution to economic growth of the country.

Nationalization of large and medium-sized businesses was taking place till 1991. In 2002 though about 2,000 manufacturing companies, 45 private enterprises were waiting privatization.

Moreover, a fishing area and a tourism are also the points of Eritrean economy.

Topics: agrarian economy, agriculture, capita, cotton fruit, economy, Eritrea, force, fruit and vegetables, growth, labor, main exports, medium sized businesses, private enterprises, world bank atlas