The World Factbook about Eritrea With independence from Ethiopia on 27 April 1993, Eritrea faced the bitter economic problems of a small, desperately poor African country. The small industrial sector consists mainly of light industries with outmoded technologies.
Government revenues come from custom duties and taxes on income and sales.
Road construction is a top domestic priority. Eritrea has inherited the entire coastline of Ethiopia and has long-term prospects for revenues from the development of offshore oil fields, offshore fishing, and tourism. Eritrea's economic future depends on its ability to master fundamental social and economic problems, e.g., overcoming illiteracy, promoting job creation, expanding technical training, attracting foreign investment, and streamlining the bureaucracy. All information is subject to change at any time. Global Direct Corp. assumes no liability for the use of the database or activities of its franchisees.