Eritrea's Economy is Growing by 17% in 2011
Eritrea's Economy is Red-Hot
June 15, 2011 (ASMARA) – Eritrea’s economic growth has accelerated to 17% in 2011, giving the Red Sea state the highest growth levels worldwide, according to the latest economic statistics published in the annual Report Buyer's country information.
Eritrea's red-hot economy is riding on a wave of mining boom, a strong agriculture sector, and extensive investments being made in infrastructure that has revitalized the economy.
Moreover, the report indicated Eritrea's economy had grown by 6% in 2010, which mostly came from the successful endeavors reached in the agriculture department. Estimation forecasts for the fiscal year of 2012 shows Eritrea's economy will grow by 7%, as the output levels at Bisha begin to stabilize.
Construction will add to growth
The Eritrean government will start focusing on major infustrcutre development that will undoubtedly increase GDP growth and help ease the housing shortages. Projects such as four new large football stadiums, modern housing apartment complexes and houses, a new modern college and no less than building 56 new schools throughout the country are some of the plans in store for 2011 and early 2012.
Eritrea by the numbers
Eritrea scores high in just about all the major human and economic developments within Sub-Sahara Africa, including leading Sub-Sahara Africa in Life Expectancy, GDP growth, and various critical health statistics. Since independence in 1991, Eritrea has doubled its literacy rates to 67%, slashed in half it's HIV/AIDs prevalence to one of Africa's lowest of 0.8%, nearly doubled it's life expectancy to a 66 year average, reduced it's child mortality rates under 5 by 63%, etc. Statistically speaking, the Eritrean government by far has demonstrated it has been the most efficient government in Sub-Sahara Africa when it comes to transforming the lives of ordinary citizens for the better. Make no mistake about it, Eritrea still has a long ways to go to becoming a developed society, but based on these superb numbers demonstrated within the last 20 years, that road is quickly becoming shorter.
Below is a chart showcasing Eritrea's overall data. All sources are presented on the left.
[click on photo to see larger quality]
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June 15, 2011 (ASMARA) – Eritrea’s economic growth has accelerated to 17% in 2011, giving the Red Sea state the highest growth levels worldwide, according to the latest economic statistics published in the annual Report Buyer's country information.
Eritrea's red-hot economy is riding on a wave of mining boom, a strong agriculture sector, and extensive investments being made in infrastructure that has revitalized the economy.
Moreover, the report indicated Eritrea's economy had grown by 6% in 2010, which mostly came from the successful endeavors reached in the agriculture department. Estimation forecasts for the fiscal year of 2012 shows Eritrea's economy will grow by 7%, as the output levels at Bisha begin to stabilize.
Construction will add to growth
The Eritrean government will start focusing on major infustrcutre development that will undoubtedly increase GDP growth and help ease the housing shortages. Projects such as four new large football stadiums, modern housing apartment complexes and houses, a new modern college and no less than building 56 new schools throughout the country are some of the plans in store for 2011 and early 2012.
Eritrea's Economic Facts:
|1| 2010: 6% Growth
|2| 2011: 17% Growth
|3| 2012: 7% - 12.5% Estimation Growth (depending on the different sources)
Eritrea by the numbers
Eritrea scores high in just about all the major human and economic developments within Sub-Sahara Africa, including leading Sub-Sahara Africa in Life Expectancy, GDP growth, and various critical health statistics. Since independence in 1991, Eritrea has doubled its literacy rates to 67%, slashed in half it's HIV/AIDs prevalence to one of Africa's lowest of 0.8%, nearly doubled it's life expectancy to a 66 year average, reduced it's child mortality rates under 5 by 63%, etc. Statistically speaking, the Eritrean government by far has demonstrated it has been the most efficient government in Sub-Sahara Africa when it comes to transforming the lives of ordinary citizens for the better. Make no mistake about it, Eritrea still has a long ways to go to becoming a developed society, but based on these superb numbers demonstrated within the last 20 years, that road is quickly becoming shorter.
Below is a chart showcasing Eritrea's overall data. All sources are presented on the left.
| Eritrea Facts | 2011 or latest Data | Commentary |
|---|---|---|
| Population | 6 million | 168,000 Eritreans are born annually |
| Life Expectancy | 66 Year Average | Leads Sub-Sahara Africa |
| Economic GDP Growth | 17% GDP Growth for 2011 | Global GDP Growth Leader in 2011 |
| Literacy Rate | 67% Literacy Rate | Doubled Since Independence |
| HIV Prevalence Rate | 0.8% or 25,000 with HIV | Nearly Declined by 50% |
| Child Mortality Under 5 | 55 deaths per 1000 births | 2nd Lowest in Sub-Sahara Africa |
| Maternal Mortality Rate | 280 deaths per 100,000 births | 3rd Lowest In Sub-Sahara Africa |
| . |
[click on photo to see larger quality]
 |
| Photo: new modern adi Keih College which cost 17 Million USD to build |
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Eritrea's Economy is Growing by 17% in 2011
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Eritrea's new adi Keyeh College is the largest college and the most modern in the horn of Africa. I can't wait till the government builds another college of that quality outside of Keren.
ReplyDeletegood work but what about those people wants to build thier own home when are you going to aloud??? if u do we can build why wait,
ReplyDeleteThat may be the case as far as the economic projections for 2011, Ceteris-Paribus (all things remaining constant). How come we do not see the unemployment rate in Eritrea, don't they have a department that controls those unpleasant but necessary tell-tell data? Like all the Sub-Saharan Africa countries I see Eritrea has a tremendous youth manpower potential, and without giving the youth the due respect, the country cannot sprint ahead. Most Sub-Saharan countries like to maintain the same old "politician" in control of their country's economics and revenue generating resources, the countries fail before they get the chance to register tangible change. Youth and women are left to fend for themselves leaving the income gap huge and unwinnable. I am hopping Eritrea will be different for these sectors. Besides economic success in projection, Eritrea needs to complement that with fixing the justice system of the country.
ReplyDeleteWell, Eritrea is not like the rest of Sub-Saharan Africa, or the world for that matther. The president has not failed us once so far! As long as outside forces keep their hands of off Eritrea all will be taken care of in due time, our goverment is working as hard as they possibly can and the majority of the eritrean people trust them, so thank you for your concern but we are well taken care of!
ReplyDeleteI've not got much to say, I just wanted (as a fellow Horn of Africa brother - a Somali) to give my congrants to all Eritreans for this achievement. Soon the rest of the world will realize what we had all realized years ago -- that this is the best part of the world and simply needs its chance to flourish to show it.
ReplyDeleteI am satisfied with daily steps is taken by the governament to put Eritrean on top,If the university is built any where in the country it will benefit all Eritreans,besides from Keren to Senafe you can get there in a matter of few hours.
ReplyDeletethank you my somali brother truely our heart is bleeding for what is
ReplyDeletehappening in somalia but always there is a light at the end of the tunnel.As Eritreans we will never ever forget the support that we had in the darkest days of our strugle to our independence,when i say support it means the official & popular suport...
MAY ALLAH HELP THE HELPLESS SOMALI PEOPLE.
As yet an other Eritrean, and about 99.9% of Eritreans - thank you for the kind wards on ERitrean our SOMALIAN brother. Our hearts and prayers is always with you. And you got that right, it's time for the horn to shine, and you'll be apart of it soon. If Eritrea can make it, you'll make it. MAY AMLACH (GOD)And ALLAH BE WITH YOU OUR SOMALIAN BROTHERS
ReplyDeletemay GOD bless eritrea!!!!!!!
ReplyDeleteWe have to pray and work for the consistance peace and development..
ReplyDeleteGod be with you!!!
Given the chance peace n stability,any one can fulfil their potential n Eritrea is not different!keep it up ere n may other countries follow your good example!so the standard is set so.....let's get going ppl.
ReplyDelete