Eritrea: Total reserves (% of total external debt)

Key figures

What the numbers say

In 2019, Eritrea's total reserves (% of total external debt) rose 4.15 percentage points on 2018 (from 20.44% to 24.6%).

Across the 23 yearly changes before that (1996 to 2018), the average change was −3.91 percentage points and a typical year strayed about 62.8 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 120.63 percentage points in 1997 and the biggest yearly fall was 257.62 percentage points in 1998. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2010 to 2019 the straight-line trend is upward, about 1.34 percentage points a year. A straight line explains 92% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

A straight-line projection, tested first

Extending that straight line gives about 26.93% for 2022. We show this only because the same method, fitted on earlier years, predicted 2017 to 2019 better than "no change" would have: its average miss was 1.93%, against 3.17% for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

See how every economy compares in the full ranking.

What this measures

Reserve assets are external assets, including monetary gold, that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes (such as maintaining confidence in the currency and the economy, and serving as a basis for foreign borrowing). Reserve assets must be denominated and settled in foreign currency. This indicator is expressed as a percentage of total external debt which are all liabilities that require payment(s) of interest and/or principal by the debtor at some point(s) in the future and that are owed to non-residents by residents of an economy.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 25 values

Total reserves (% of total external debt) in nearby economies

• Angola — 24.25% (2024)
• Botswana — 149.08% (2024)
• Burundi — 8.74% (2023)
• Cabo Verde — 33.19% (2024)
• Cameroon — 32.09% (2024)
• Central African Republic — 46.78% (2024)
• Chad — 46.22% (2024)
• Comoros — 84.02% (2024)
• Congo, Dem. Rep. — 42.51% (2023)
• Congo, Rep. — 11.27% (2024)

More economic policy & debt data for Eritrea

• Adjusted savings, education expenditure (% of GNI) — 1.72% (2021)
• Adjusted savings, mineral depletion (current US$) — US$406.57 million (2021)
• Grants, excluding technical cooperation (BoP, current US$) — US$122.44 million (2023)
• Net official development assistance and official aid received (current US$) — US$129.19 million (2023)
• Net official development assistance and official aid received (constant 2023 US$) — US$129.19 million (2023)
• Net official development assistance received (current US$) — US$129.19 million (2023)
• Net official development assistance received (constant 2023 US$) — US$129.19 million (2023)
• Net ODA received per capita (current US$) — US$37.23 (2023)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Eritrea's total reserves (% of total external debt)?

24.6% in 2019, according to the World Bank (World Development Indicators).

How has it changed since 1995?

It is down 85.76 percentage points from 110.36% in 1995. The highest value was 304.25% in 1997 and the lowest 2.87% in 2006.

Is the latest change in total reserves (% of total external debt) unusual for Eritrea?

In 2019, Eritrea's total reserves (% of total external debt) rose 4.15 percentage points on 2018 (from 20.44% to 24.6%). Across the 23 yearly changes before that (1996 to 2018), the average change was −3.91 percentage points and a typical year strayed about 62.8 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator FI.RES.TOTL.DT.ZS, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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