Eritrea: Financial openness
* indicates monthly or quarterly data series
| Eritrea |
Financial openness index |
|---|---|
| Latest value | -1.935 |
| Year | 2022 |
| Measure | index points |
| Data availability | 1998 - 2022 |
| Average | -1.602 |
| Min - Max | -1.935 - -0.171 |
| Source | Chinn-Ito Index |
The latest value from 2022 is -1.935 index points, unchanged from -1.935 index points in 2021. In comparison, the world average is 0.307 index points, based on data from 174 countries. Historically, the average for Eritrea from 1998 to 2022 is -1.602 index points. The minimum value, -1.935 index points, was reached in 2003 while the maximum of -0.171 index points was recorded in 1999.
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Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 99.00 | 2024 | percent |
| Trade openness | 47.39 | 2011 | percent |
| Financial openness | -1.935 | 2022 | index points |
| Exports, percent of GDP | 18.15 | 2011 | percent |
| Exports, billion dollars | 0.37 | 2011 | billion U.S. dollars |
| Growth of exports | 575.74 | 2011 | percent |
| Imports, percent of GDP | 29.24 | 2011 | percent |
| Imports, billion dollars | 0.60 | 2011 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 1.89 | 2011 | percent |
| Foreign Direct Investment, billion dollars | -0.03 | 2024 | billion U.S. dollars |
| Current account, percent of GDP | -14.82 | 2000 | percent |
| Current account, in dollars | -0.10 | 2000 | billion U.S. dollars |
| Trade balance, percent of GDP | -11.08 | 2011 | percent |
| Trade balance, in dollars | -0.40 | 2000 | billion U.S. dollars |
| Reserves | 0.19 | 2019 | billion U.S. dollars |
| Remittances, percent of GDP | 0.47 | 2000 | percent |
| Remittances | 3.28 | 2000 | million U.S. dollars |
| Net errors and omissions | -22.87 | 2000 | million USD |
| External debt | 39.32 | 2019 | percent |
| Short-term external debt | 6.04 | 2023 | percent |
| Short-term debt to reserves | 17.07 | 2019 | percent |