Eritrean economy
E477514
The Eritrean economy is the national economic system of Eritrea, characterized by state control, a largely agrarian base, limited industrial development, and significant challenges due to isolation and ongoing regional tensions.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Eritrean economy canonical | 1 |
Statements (55)
| Predicate | Object |
|---|---|
| instanceOf | national economy ⓘ |
| challenge |
climate vulnerability
ⓘ
food production volatility ⓘ limited access to external finance ⓘ sanctions and diplomatic isolation in past periods ⓘ weak institutional capacity ⓘ |
| continent | Africa ⓘ |
| country | Eritrea NERFINISHED ⓘ |
| currency | nakfa NERFINISHED ⓘ |
| developmentLevel | low-income country ⓘ |
| dominantSector |
agriculture
ⓘ
services ⓘ |
| economicSystem |
mixed economy
ⓘ
state-controlled economy ⓘ |
| feature |
chronic food insecurity risk
ⓘ
electricity supply constraints ⓘ exposure to drought risk ⓘ foreign exchange controls ⓘ high youth unemployment ⓘ impact of past conflict with Ethiopia ⓘ impact of regional tensions ⓘ infrastructure constraints ⓘ international isolation ⓘ large informal sector ⓘ limited financial sector development ⓘ limited industrial development ⓘ limited integration into global markets ⓘ low level of foreign direct investment ⓘ port infrastructure at Assab ⓘ port infrastructure at Massawa ⓘ price controls in some sectors ⓘ rationing of some basic goods ⓘ reliance on diaspora remittances ⓘ reliance on subsistence agriculture ⓘ significant role of public enterprises ⓘ state control over key sectors ⓘ transport infrastructure limitations ⓘ weak private sector ⓘ |
| governmentBody |
Ministry of Finance of Eritrea
NERFINISHED
ⓘ
Ministry of National Development of Eritrea NERFINISHED ⓘ |
| laborForceCharacteristic |
large share of labor in agriculture
ⓘ
mandatory national service ⓘ significant emigration of workers ⓘ |
| mainExportSector |
agricultural products
ⓘ
gold mining ⓘ livestock ⓘ mining ⓘ zinc and copper mining ⓘ |
| mainImportCategory |
food
ⓘ
fuel ⓘ machinery ⓘ manufactured goods ⓘ |
| minorSector | industry ⓘ |
| monetaryAuthority | Bank of Eritrea NERFINISHED ⓘ |
| subregion | Horn of Africa NERFINISHED ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.