Eritrea

Location : Eastern Africa, bordering the Red Sea, between Djibouti and Sudan

Capital : Asmara

Languages : Afar, Arabic, Tigre and Kunama, Tigrinya, other Cushitic languages

Area : 26,338 sq km

Land Use : arable land: 4.95%; permanent crops: 0.03%; other: 95.02% (2001)

Natural Resources : gold, potash, zinc, copper, salt, possibly oil and natural gas, fish

Population : 4,561,599 (July 2005 est.) 

Population below poverty line : 50% (2004 est.)

International Organisation participation : ACP, AFDB, AU, FAO, G-77, IAEA, IBRD, ICAO, ICC (signatory), ICFTU, IDA, IFAD, IFC, IFRCS (observer), IGAD, ILO, IMF, IMO, Interpol, IOC, ISO (correspondent), ITU, MIGA, NAM, OPCW, PCA, UN, UNCTAD, UNESCO, UNIDO, UPU, WCO, WFTU, WHO, WIPO, WMO, WToO

GDP per capita : U$900 (2004 est.)

GDP Real Growth Rate : 2.5% (2004 est.)

GDP sectoral composition : agriculture: 12.4%; industry: 25.9%; services: 61.7% (2004 est.)

Investment (gross fixed): 26.3% of GDP (2004 est.)

Industries: food processing, beverages, clothing and textiles, salt, cement, commercial ship repair

Agriculture - products : sorghum, lentils, vegetables, corn, cotton, tobacco, coffee, sisal; livestock, goats; fish

Exports : U$64.44 million f.o.b. (2004 est.)

Exports - commodities : livestock, sorghum, textiles, food, small manufactures (2000)

Exports - partners : Malaysia 54.7%, Italy 8.8%, France 3.7% (2004)

Imports : U$622 million f.o.b. (2004 est.)

Imports - commodities : machinery, petroleum products, food, manufactured goods (2000)

Imports - partners : US 32.3%, Italy 15.5%, Turkey 5.5%, UK 4.6%, Russia 4.4%, Italy 6.4% (2004)

QUALITATIVE TRADE PROFILE

Although not a member of the WTO, Eritrea has very low tariffs. Furthermore, virtually all their tariffs are ad valorem. The simple average applied tariff is 7.9% with agricultural goods in particular subject to a 10% tariff and non-agricultural goods subject to a 7.6% tariff.

INSTITUTIONAL FRAMEWORK 

Eritrea 's institutional framework has not yet been determined.

TRADE AGREEMENTS

Bilateral

Eritrea is a beneficiary under the EU 'Everything-but-Arms' initiative. In 2003, Eritrea had its eligibility under the 2003 African Growth and Opportunity Act (AGOA) revoked. and as well as under many other GSP schemes.

Regional

Eritrea is a member of the Common Market for Eastern and Southern Africa (COMESA), the Intergovernmental Authority on Development, the African Union (AU) and the African Economic Community (AEC). Eritrea is currently negotiating an Economic Partnership Agreement with the EU through the ESA configuration.

Multilateral

Eritrea is neither a member nor observer to the WTO.  

NEED PRIORITIES  

Eritrea 's trade-related technical assistance requirements span a number of areas, including the implementation of trade agreements; formulation of trade policy; enhanced understanding of officials and establishing consultative mechanisms.

Source: World Fact Book