Current account balance | Eritrea – yearly data, chart and table
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In constant 2015 dollars
In local currency (average annual exchange rate)
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Overview
The account balance of Eritrea in 2019 amounted to 257 million USD. In 2018 it was 311 million USD. It has been falling in this country for already 2 years in a row. Over the entire data period of International Monetary Fund (IMF), since 1992, this indicator has increased in 1.37 times. The lowest account balance was recorded in 1999, when it was -205 million USD. The highest value of Eritrea was in 2017, when it reached 471 million USD. This indicator is related to the balance of payments, which is a statement that summarizes economic transactions between residents and nonresidents during a specific time period. It consists of the goods and services account (the trade balance), the primary account, the secondary income account, the capital account, and the financial account.
Additional infomation:
About indicator
The balance of payments is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions.
