Eritrea Current Account Balance
Current account balance as % of GDP BN.CAB.XOKA.GD.ZS
Eritrea's current account balance was 12.99% in 2019, ranked 184th globally. This represents a 16.3% decrease from 2018. Data from World Bank, covering 1992–2019.
Overview
Eritrea's current account balance stood at 12.99% in 2019, a decline of +2.53% from 2018. Eritrea ranked 184th globally.
Eritrea’s current‑account balance has been highly volatile over the 28‑year series compiled by the World Bank, swinging from an all‑time peak of 39.39 % of GDP in 1992 to a deep trough of –39.27 % in 1998 before settling at 12.99 % in 2019, a level that placed the country 184th globally. The sharp reversal in the late 1990s reflects a period of intensified import spending and reduced export earnings, likely linked to the post‑war reconstruction effort and limited diversification of the export base. By contrast, peer economies such as the Republic of Congo posted a current‑account surplus of 11.68 % in the same year, suggesting that Eritrea’s recent surplus, while modest, exceeds that of several comparable low‑income states. The persistence of a positive balance in 2019 indicates that export revenues and remittances have begun to outweigh external financing needs, yet sustaining this trajectory will depend on expanding productive capacity and stabilising external debt flows.
Data & projection
| Year | Current Account Balance | YoY change | Rank |
|---|---|---|---|
| 2019 | 12.99% | −2.53% | #184 |
| 2018 | 15.51% | −9.24% | #187 |
| 2017 | 24.76% | +11.32% | #193 |
| 2016 | 13.43% | −8.96% | #191 |
| 2015 | 22.39% | +4.70% | #193 |
| 2014 | 17.69% | +15.41% | #187 |
| 2013 | 2.28% | −10.16% | #151 |
| 2012 | 12.44% | −0.35% | #177 |
| 2011 | 12.80% | +24.22% | #178 |
| 2010 | -11.42% | −0.10% | #30 |
| 2009 | -11.32% | −3.68% | #27 |
| 2008 | -7.64% | +0.26% | #78 |
| 2007 | -7.90% | −3.27% | #49 |
| 2006 | -4.63% | −5.06% | #75 |
| 2005 | 0.43% | +1.30% | #123 |
Detected Pattern
Analysis
Eritrea matched the Export Boom Cycle pattern in 2019. Historically, 71% of countries showing this pattern (546 out of 768) saw current account balance improve within 24 months. View full analysis →
Frequently Asked Questions
Eritrea's current account balance was 12.99% in 2019. Ranked 184th globally. This represents a 16.3% decrease from the previous year.
Eritrea's current account balance peaked at 39.39% in 1992.
The lowest current account balance in Eritrea was -39.27% in 1998.
Eritrea ranks 184th globally in current account balance as of 2019.
The World Bank indicator code is BN.CAB.XOKA.GD.ZS. Data sourced from World Bank.
The current account balance of Eritrea in 2019 was 12.99%. This ranks 184th in the world.
Cite this page
@misc{historysaid_eritrea_current-account,
title = {Eritrea Current Account Balance},
url = {https://historysaid.com/eritrea/current-account/},
publisher = {HistorySaid},
year = {2026}
}