Eritrea
2020 Product Exports | Imports: $596M | $361M, 165 of 226 | 189 of 226
2000 Service Exports | Imports : $60.9M | $28.4M, 154 of 179 | 166 of 176
Overview In 2020 Eritrea was the number 165 economy in the world in terms of total exports and the number 189 in total imports.
Exports The top exports of Eritrea are Gold ($265M), Copper Ore ($172M), Zinc Ore ($153M), Silver ($1.13M), and Non-Knit Men's Shirts ($1.13M), exporting mostly to United Arab Emirates ($266M), China ($264M), South Korea ($45.6M), Malaysia ($14.8M), and Italy ($1.58M).
Imports The top imports of Eritrea are Wheat Flours ($39.5M), Delivery Trucks ($17.2M), Sorghum ($15M), Rubber Tires ($12M), and Raw Sugar ($9.52M), importing mostly from Egypt ($78.4M), United Arab Emirates ($77.4M), China ($70.5M), Italy ($30.1M), and United States ($18M).
Location Eritrea borders Djibouti, Sudan, and Ethiopia by land and Saudi Arabia and Yemen by sea.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Eritrea.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2020): Gold, $265M
Top Destination (2020): United Arab Emirates, $78.4M
In 2020, Eritrea exported a total of $596M, making it the number 165 exporter in the world. During the last five reported years the exports of Eritrea have changed by $155M from $441M in 2015 to $596M in 2020.
The most recent exports are led by Gold ($265M), Copper Ore ($172M), Zinc Ore ($153M), Silver ($1.13M), and Non-Knit Men's Shirts ($1.13M). The most common destination for the exports of Eritrea are United Arab Emirates ($266M), China ($264M), South Korea ($45.6M), Malaysia ($14.8M), and Italy ($1.58M).
Market Growth
#permalink to sectionFastest Growing Export Markets (2019 - 2020)
- United Arab Emirates, $99.9M (+ 60.2%)
- China, $71.6M (+ 37.2%)
- Netherlands, $654k (+ 4.77k%)
Fastest Growing Import Markets (2019 - 2020)
- China, $21.9M (+ 45%)
- Italy, $5.25M (+ 21.1%)
- Saudi Arabia, $4.73M (+ 455%)
Service Trade
#permalink to sectionService Trade
#permalink to sectionEritrea Exports Services (2000): $60.9M
Eritrea Imports Services (2000): $28.4M
In 2000, Eritrea exported $60.9M worth of services. The top services exported by Eritrea in 2000 were Travel ($34.7M), Transportation ($9.85M), Communications services ($8.21M), Government services, n.i.e. ($6.79M), and Other business services ($624k).
The top services imported by Eritrea in 2000 were Travel ($11.7M), Transportation ($6.52M), Government services, n.i.e. ($4.79M), Other business services ($3.89M), and Communications services ($626k).
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionEritrea has a high level of specialization in Zinc Ore (543), Copper Ore (78), Gold (17.6), Non-Knit Men's Shirts (3.13), and Tobacco Processing Machines (2.24). Specialization is measured using RCA, an index that takes the ratio between Eritrea observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Eritrea according to the product complexity index (PCI) are Tobacco Processing Machines (-0.31), Silver (-0.67), Non-Knit Men's Shirts (-1.32), Non-Knit Men's Undergarments (-1.38), and Zinc Ore (-1.39). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Eritrea according to the relatedness index, are Cocoa Beans (0.018), Niobium, Tantalum, Vanadium and Zirconium Ore (0.017), Tin Ores (0.017), Aluminium Ore (0.016), and Precious Metal Ore (0.016). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Eritrea is not specialized in.
Product Space
#permalink to sectionThe product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
