Overview: With independence from Ethiopia on 27 April 1993, Eritrea faces the bitter economic problems of a small, desperately poor African country. Most of the population will continue to depend on subsistence farming. Domestic output is substantially augmented by worker remittances from abroad. Government revenues come from custom duties and income and sales taxes. Eritrea has inherited the entire coastline of Ethiopia and has long-term prospects for revenues from the devlopment of offshore oil, offshore fishing and tourist development. For the time being, Ethiopia will be largely dependent on Eritrean ports for its foreign trade.

National product: GDP - exchange rate conversion - $400 million (1992 est.)

National product real growth rate: NA%

National product per capita: $115 (1992 est.)

Inflation rate (consumer prices): NA%

Unemployment rate: NA%

Budget: revenues $NA; expenditures $NA, including capital expenditures of $NA

External debt: $NA

Industrial production: growth rate NA%

Electricity: NA kW capacity; NA kWh produced, NA kWh per capita

Industries: food processing, beverages, clothing and textiles

Agriculture: NA

Economic aid: NA

Currency: NA

Exchange rates: NA

Fiscal year: NA