The 2004 CIA World Factbook. United States. Central Intelligence Agency
EIJ, EIS, ELF, and a number of ELF factions) [HERUY Tedla Biru]; Eritrean Public Forum or EPF [ARADOM Iyob]
International organization participation:
ACP, AfDB, AU, FAO, G-77, IAEA, IBRD, ICAO, ICCt (signatory),
ICFTU, IDA, IFAD, IFC, IFRCS (observer), IGAD, ILO, IMF, IMO,
Interpol, IOC, ISO (correspondent), ITU, MIGA, NAM, OPCW, PCA, UN,
UNCTAD, UNESCO, UNIDO, UPU, WCO, WFTU, WHO, WIPO, WMO, WToO
Diplomatic representation in the US:
chief of mission: Ambassador GIRMA Asmerom
telephone: [1] (202) 319–1991
consulate(s) general: Oakland (California)
FAX: [1] (202) 319–1304
chancery: 1708 New Hampshire Avenue NW, Washington, DC 20009
Diplomatic representation from the US:
chief of mission: Ambassador Scott H. DELISI
embassy: Franklin D. Roosevelt Street, Asmara
mailing address: P. O. Box 211, Asmara
telephone: [291] (1) 120004
FAX: [291] (1) 127584
Flag description:
red isosceles triangle (based on the hoist side) dividing the flag
into two right triangles; the upper triangle is green, the lower one
is blue; a gold wreath encircling a gold olive branch is centered on
the hoist side of the red triangle
Economy Eritrea
Economy - overview:
Since independence from Ethiopia on 24 May 1993, Eritrea has faced
the economic problems of a small, desperately poor country. Like the
economies of many African nations, the economy is largely based on
subsistence agriculture, with 80% of the population involved in
farming and herding. The Ethiopian-Eritrea war in 1998–2000 severely
hurt Eritrea's economy. GDP growth fell to zero in 1999 and to
−12.1% in 2000. The May 2000 Ethiopian offensive into northern
Eritrea caused some $600 million in property damage and loss,
including losses of $225 million in livestock and 55,000 homes. The
attack prevented planting of crops in Eritrea's most productive
region, causing food production to drop by 62%. Even during the war,
Eritrea developed its transportation infrastructure, asphalting new
roads, improving its ports, and repairing war damaged roads and
bridges. Since the war ended, the government has maintained a firm
grip on the economy, expanding the use of the military and
party-owned businesses to complete Eritrea's development agenda.
Erratic rainfall and the delayed demobilization of agriculturalists
from the military kept cereal production well below normal, holding
down growth in 2002. Eritrea's economic future depends upon its
ability to master social problems such as illiteracy, unemployment,
and low skills, and to open its economy to private enterprise so the
diaspora's money and expertise can foster economic growth.
GDP:
purchasing power parity - $3.3 billion (2002 est.)
GDP - real growth rate:
2% (2002 est.)
GDP - per capita:
purchasing power parity - $700 (2002 est.)
GDP - composition by sector: agriculture: 12.4% industry: 25.3% services: 62.4% (2003 est.)
Investment (gross fixed):
26.3% of GDP (2003)
Population below poverty line:
53% (1993/94)
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
12.3% (2003)
Labor force:
NA (1999)
Labor force - by occupation:
agriculture 80%, industry and services 20%
Unemployment rate:
NA (2003 est.)
Budget:
revenues: $235.7 million
expenditures: $375 million, including capital expenditures of $NA
(2003 est.)
Agriculture - products: sorghum, lentils, vegetables, corn, cotton, tobacco, coffee, sisal; livestock, goats; fish
Industries:
food processing, beverages, clothing and textiles
Industrial production growth rate:
NA
Electricity - production:
220.5 million kWh (2001)
Electricity - consumption:
205.1 million kWh (2001)
Electricity - exports:
0 kWh NA kWh (2001)
Electricity - imports:
0 kWh NA kWh (2001)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
6,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Current account balance:
$-159 million (2003)
Exports:
$56 million f.o.b. (2003 est.)
Exports - commodities:
livestock, sorghum, textiles, food, small manufactures (2000)
Exports - partners:
Malaysia 65.1%, Italy 10.4%, France 4.4% (2003)
Imports:
$600 million f.o.b. (2003 est.)
Imports - commodities:
machinery, petroleum products, food, manufactured goods (2000)
Imports - partners:
US 39.7%, Italy 19.1%, Turkey 6.8%, Russia 5.4%, France 4.7% (2003)
Reserves of foreign exchange & gold:
$28 million (2003)
Debt - external:
$311 million (2000 est.)
Economic aid - recipient:
$77 million (1999)
Currency:
nakfa (ERN)
Currency code:
ERN
Exchange rates:
nakfa (ERN) per US dollar - NA (2003), 13.9582 (2002), 11.3095
(2001), 9.5 (2000), 7.6 (1999)
Fiscal year: