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Eritrea to have the third fastest growing economy in Africa: EIU

Economist Intelligence Unit forecasts Eritrea's economy to grow by 8.0% in 2014


November 1, 2013 — Eritrea’s economy is expected to maintain a growth rate of 8.0% in 2014, according to the Economist Intelligence Unit (EIU), a research arm of The Economist Group.

According to the group's figures, Eritrea will have the third fastest-growing economy in Africa, trailing only behind Zambia and Rwanda.

The data was revealed by Robert Ward, the Country Director of the EIU, at the start of a two-day conference organised by the The Economist magazine in Ghana last Tuesday.

With nearly 20 foreign mining companies operating in Eritrea, analysts predict a mining boom that will accelerate the country's GDP growth for decades to come.

Conservative estimates indicate around a quarter of a trillion dollars worth of minerals and potash are to be found in Eritrea, making the Red Sea State's economic future among the brightest in the continent.




Eritrea's annual GDP forecasts for the last three years

Eritrea201220132014____________
GDP growth rate
4.5%
7.0%
8.0% 
Price Inflation
17.0%
13.0%
13.0%
Exports of goods
$434.8 million
$474.3 million
$549.7 million
Nfa:US$ rate
15.38c
15.38c
15.38c

Source: Economic Intelligence Unit















                                                         

                                                Click on images to enlarge
Screenshot  taken from the Econonomic Intelligence Unit Country by Country Report

Screenshot taken from the Economic Intelligence Unit Country Report

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Eritrea to have the third fastest growing economy in Africa: EIU Reviewed by Admin on 11:37 AM Rating: 5

11 comments:

  1. I just got back from Eritrea. Leading up to my trip, all I read was bad news about the country. But when I arrived, my perception changed. The people are so hospitable and fun to be around. I genuinely loved being in Asmara; it's such an amazing city; by far, my favorite city in Africa. It's a shame these Western journalists keep lying about your country to score political points for their respective governments.

    I think Eritrea's economic future is on a launching pad. Every minor I've spoken to said Eritrea's the next big thing in Africa. You guys have a lot of resources and it's time you capitalize on them.

    ReplyDelete
  2. Benyam GhebrenegusNovember 1, 2013 at 5:39 PM

    This is a good news. May God bless Eritrea more and more! 10q for the report.

    ReplyDelete
  3. Top 5 fastest growing economies in Africa in 2014, according to Economic Intelligence Unit

    1) Rwanda

    2) Zambia

    3) Eritrea (8.0% GDP Growth)

    4) Tanzania

    5) Sierra Leone



    Brick by brick, house by house, Eritrea is getting closer to becoming a developed country. Statistically speaking, it's trouncing its neighbors in just about every health, education and economic indicators.

    ReplyDelete
  4. God bless Eritrea and Eritrean people. We need to keep working harder. peace.

    ReplyDelete
  5. what astonished is Eritrea's "To Do" policy with out any hand-out nor aid, just ten years, we'll be in Total Self-Reliance and stable economy

    ReplyDelete
  6. is it real I think not it is a dream. while every sector of the country economy gets back to the bottom limit how could this be possible. in common cense in order to conduct a research u need dats Eritrea is a one off the most secretive country of this century where does these researchers get the information to come to these conclusion.

    ReplyDelete
  7. Eritreans are dying like never before and their organs are sold like
    Cheap commodity in the desert of sini if this is the economic growth that you are talking we don't want it.
    What we need first and for most is social justice and to be governed by the rule of law and put in place our constitution
    Then definitely economic growth will come in double digits no dout

    ReplyDelete
  8. Aya Sariam I hope you are not an Eritrean. When the realty is being told it hard to swallow for ppl like you but whether you like it or not this is what on the ground not what the western media telling you the lies in order to achieve their goal.

    ReplyDelete
  9. is that WHY we have the youth flight? do your math kindly about who produce the biggest refugees in this planet :( we will NEVER improve until we admit that we have a major problem.

    ReplyDelete
  10. this source were from s ministry of isayas afewerki..
    there is no data in eritrea there is only "lie and propoganda" in eritrea.. no water no bread no electricty.. there is only one thing in eritrea.. that is massive Propoganda and masivie dancing...dancing..

    ReplyDelete

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