IMF Staff Country Reports

Eritrea: Recent Economic Developments

Publication Date:

January 23, 1995

Electronic Access:

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Summary:

This paper describes economic developments in Eritrea during 1990–95. In 1993, despite strong growth in the industry and distribution sectors, real GDP growth was adversely affected by a substantial decline in agricultural output, owing to poor rain distribution, pest problems, and drought in some regions. The growth in industry reflected increased availability of raw materials and spare parts, and construction activity related to the rebuilding of war-damaged roads, buildings, and housing. The distribution sector benefited from the growth in the industrial sector as well as a substantial increase in imports.

Series:

Country Report No. 1995/004

Subject:

Commercial banks Currencies Economic sectors Financial institutions Foreign exchange Imports International trade Money Public enterprises

Notes:

This report on recent economic developments in Eritrea was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.