Market Research In Eritrea

Eritrea Profile:

  • Eritrea, officially the State of Eritrea is a country in the Horn of Africa. The country is divided into 6 administrative regions and is further divided into 58 districts.
  • Eritrea is a member of the African Union, the United Nations, and IGAD, and is an observer in the Arab League alongside Brazil, Venezuela, India, and Turkey.
  • Eritrea was also ranked as having the least press freedom in the global Press Freedom Index. Eritrean government’s human rights record is among the worst in the world.
  • Copper, potash, and gold production are likely to continue to drive economic growth and government revenue over the next few years, but military spending will continue to compete with development and investment plans.
  • The Eritrean government previously withdrew its representative to the African Union to protest the AU’s alleged lack of leadership in facilitating the implementation of a binding border decision demarcating the border between Eritrea and Ethiopia

Eritrea Economy:

  • The economy of Eritrea has experienced considerable growth in recent years and is the due to full operations in the gold and silver Bisha mine and the production of cement from the cement factory in Massawa.
  • Eritrea has a command economy under the control of the sole political party, the People’s Front for Democracy and Justice.
  • 80% of the Eritrean workforce is employed in agriculture, but the sector only produces a small share of the country’s total output.
  • The government has strictly controlled the use of foreign currency by limiting access and availability; new regulations in 2013 aimed at relaxing currency controls have had a little economic effect.
  • In late 2015, the Government of Eritrea introduced a new currency, retaining the name nakfa, and restricted the number of hard currency individuals could withdraw from banks per month. The changeover has resulted in exchange fluctuations and the scarcity of hard currency available in the market

Eritrea Facts:

  • Population: 5.9 million
  • Capital: Asmara
  • Largest city: Asmara
  • Area: 117,600 sq km
  • Major language: Tigrinya (official), Arabic (official), English (official), Tigre, Kunama, Afar
  • Major religion: Muslim, Coptic Christian, Roman Catholic, Protestant
  • Life expectancy: 62.7 years (Male), 67.8 years (Female)
  • Monetary unit: 1 Eritrean Nakfa (EN, ERN) = 100 Cents
  • Main exports: Gold and other minerals, livestock, sorghum, textiles, food, small industry manufacturers
  • GNI per Capita: $1500

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