ERITREA
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About Eritrea

Page Last Updated: 28/05/2024

Eritrea, situated in the Horn of Africa, holds significant potential for businesses seeking opportunities in this dynamic region. With its strategic location and diverse economy, many companies are exploring the prospects that Eritrea offers. If your company is considering expansion into Eritrea but requires assistance navigating local regulations, customs, or employment procedures, Africa HR Solutions is here to help. Our comprehensive support services ensure a seamless and compliant expansion, allowing you to focus on maximizing your business potential in Eritrea. 

Population: 3.5 M
Gross Domestic Product (GDP): $1.98 B
GDP Growth: 3.8%
Inflation: 1.3%
Foreign Direct Investment (% of GDP): 1.89%
Unemployment Rate: 5.9%
Capital: Asmara
Currency: Eritrean Nakfa (ERN)
Languages: Tigrinya, Arabic, English

Eritrea Payroll at a Glance

Currency

Eritrean Nakfa (ERN)

Income Tax

2% – 30%

Employer Taxes

N/A

Employee Contribution

N/A

Fiscal Year

1 January – 31 December

Date Format

yyyy/mm/dd or dd/mm/yyyy

  • In addition to minerals, Eritrea has significant agricultural potential, with fertile lands suitable for the cultivation of crops such as sorghum, millet, and vegetables.
  • Eritrea has a rich cultural heritage influenced by its diverse ethnic groups. Traditional music, dance, and cuisine are integral parts of Eritrean culture.
  • Eritrea has made significant strides in improving healthcare access and infrastructure, with the government providing free basic healthcare services to its citizens.
  • Eritrea has a diverse climate, with highland areas experiencing temperate weather and coastal regions having a hot and arid climate. Rainfall is generally low and erratic.
  • Education is free and compulsory for children aged 7 to 13, although access to quality education remains a challenge in some areas, particularly in rural areas.
  • New Year
  • Orthodox Christmas Day
  • Women’s Day
  • Good Friday
  • Easter Day
  • International Workers’ Day
  • Independence Day
  • Martyrs’ Day
  • Eid al-Fitr
  • Commencement Day of Eritrean Armed Struggle
  • John the Baptist Day
  • Geez New Year
  • Eid al-Adha
  • Meskel
  • The Prophet’s Birthday
  • Christmas Day
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