Eritrea Eritrea ( ; ti, ኤርትራ, Ertra, ; ar, إرتريا, ʾIritriyā), officially the State of Eritrea, is a country in the Horn of Africa region of Eastern Africa, with its capital and largest city at Asmara. It is bordered by Ethiopia ...

, officially the State of Eritrea, is a country in the

Horn of Africa The Horn of Africa (HoA), also known as the Somali Peninsula, is a large peninsula and geopolitical region in East Africa.Robert Stock, ''Africa South of the Sahara, Second Edition: A Geographical Interpretation'', (The Guilford Press; 2004), ...

. The economy of Eritrea has experienced considerable growth in recent years, indicated by an improvement in

Gross domestic product Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjec ...

(GDP) in October 2012 of 7.5 percent over 2011. However, worker

remittance A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland. Money sent home by migrants competes wit ...

s from abroad are estimated to account for 32 percent of gross domestic product.Eritrea country profile

Library of Congress The Library of Congress (LOC) is the research library that officially serves the United States Congress and is the ''de facto'' national library of the United States. It is the oldest federal cultural institution in the country. The library is ...

Federal Research Division The Federal Research Division (FRD) is the research and analysis unit of the United States Library of Congress. The Federal Research Division provides directed research and analysis on domestic and international subjects to agencies of the Unite ...

(September 2005). ''This article incorporates text from this source, which is in the public domain.'' Eritrea has an extensive amount of resources such as copper, gold, granite, marble, and potash. The Eritrean economy has undergone extreme changes due to the

War of Independence This is a list of wars of independence (also called liberation wars). These wars may or may not have been successful in achieving a goal of independence. List See also * Lists of active separatist movements * List of civil wars * List of o ...

. In 2011, Eritrea's GDP grew by 8.7 percent, making it one of the fastest-growing economies in the world. The Economist Intelligence Unit (EIU) expects it to maintain a high growth rate of 8.5 percent in 2013.

Companies based in Eritrea

Asmara Brewery Asmara Brewery (formerly, Melotti Brewery) is a brewery in Eritrea, founded in 1938. The brewery was nationalized by the Derg during the Eritrean War of Independence. The brewery operates a football team, which plays in the Eritrean Premier Leag ...

Banca per l'Africa Orientale (BAO) was an early attempt to establish modern banking in the Horn of Africa at a time when Eritrea and Italian Somaliland were Italian colonies. It closed in 1923. History During early WW1, the Italian government wanted the creation of a local ...

* Commercial Bank of Eritrea * Elabored Estate * Eritrean Investment and Development Bank *

Eritrean Railway The Eritrean Railway is the only railway system in Eritrea. It was constructed between 1887 and 1932 during the Italian Eritrea colony and connects the port of Massawa with Asmara. Originally it also connected to Bishia. The line was partly damag ...

Eritrean Telecommunications Corporation The Eritrean Telecommunication Services Corporation (formerly the Telecommunications Service of Eritrea), more commonly known as EriTel, is the sole operator of landline telephone communication infrastructure in Eritrea. It is also the sole opera ...

* Housing and Commerce Bank * Nakfa Corporation * Red Sea Trading Corporation * Sabur Printing Press File:Red Sea Trading Corporation.jpg, Corporate office for the Red Sea Trading Corporation in downtown

Asmara Asmara ( ), or Asmera, is the capital and most populous city of Eritrea, in the country's Central Region. It sits at an elevation of , making it the sixth highest capital in the world by altitude and the second highest capital in Africa. The ...

, Eritrea

By type

Airlines

Eritrean Airlines Eritrean Airlines (; ) is the national airline of Eritrea. Based at Asmara International Airport, it is wholly owned by the government of Eritrea. Scheduled service had been discontinued since 2008, and the airline operated only a few hajj fligh ...

Nasair Nasair, officially known as Nasair Eritrea, was an airline based in Asmara, Eritrea. It operated scheduled flights to domestic destinations in Eritrea, as well as limited scheduled services to the Middle East and Eastern Africa. As of May 2014 t ...

(defunct) * Red Sea Air (defunct)

Banks

References

{{Airlines of Eritrea Companies of Eritrea Economy of Eritrea Companies