Economy of East Timor

Economy of Timor-Leste
	Ministry of Finance building, East Timor.;
Currency	US dollar (USD) and East Timor centavos
Fiscal year	Calendar year
Trade organisations	Pacific Alliance
Country group	Least Developed; Low-income economy;
Statistics
GDP	$1.988 billion (nominal, 2023); $5.074 billion (PPP, 2023);
GDP growth	−1.1% (2018) 1.8% (2019e); −8.1% (2020e) 1.9% (2021e);
GDP per capita	$1,425 (nominal, 2023); $3,637 (PPP, 2023);
GDP by sector	agriculture: 9.1%; industry: 56.7%; services: 34.4%; (2017);
Inflation (CPI)	0.96% (2019 est.)
Population below poverty line	49.9% (2007 est.) 22.0% on less than $1.90/day (2014); 65.9% on less than $3.20/day (2014); 91.8% on less than $5.50/day (2014);
Gini coefficient	28.7 (2014 est.)
Human Development Index	0.607 medium (2021) (140th); 0.436 low IHDI (2019);
Labour force	581,000 (2022 est.)
Unemployment	1.79% (2022 est.)
Main industries	printing, soap manufacturing, handicrafts, woven cloth
External
Exports	$60 million (2020 est.)
Export goods	crude petroleum, natural gas, coffee, various vegetables, scrap iron
Main export partners	Singapore 51%; China 20%; Japan 9%; Indonesia 6%; Australia 3%; (2019);
Imports	$850 million (2020 est.)
Import goods	refined petroleum, cars, cement, delivery trucks, motorcycles
Main import partners	Indonesia 39%; China 27%; Singapore 10%; Malaysia 5%; Thailand 3%; (2019);
Gross external debt	$232.4 million (2021); 15.63% GDP (2021);
Public finances
Foreign reserves	$279,000,000 (December 2013)
	; All values, unless otherwise stated, are in US dollars.

The economy of Timor-Leste is a low-income economy as ranked by the World Bank.^[13] It is placed 140th on the Human Development Index, indicating a medium level of human development.^[14] 20% of the population is unemployed,^[1] and 52.9% live on less than $1.25 a day.^[14] About half of the population is illiterate.^[14] At 27%, East Timor's urbanisation rate is one of the lowest in the world.

In 2007, a bad harvest caused a "major food crisis" in East Timor. By November, eleven sub-districts still needed food supplied by international aid.^[15]

According to data gathered in the 2010 census, 87.7% of urban and 18.9% of rural households have electricity, for an overall average of 36.7%.^[16]

^ ^a ^b East Timor Archived 10 January 2021 at the Wayback Machine. The World Factbook. Central Intelligence Agency.
^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Archived from the original on 22 December 2019. Retrieved 29 September 2019.
^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Archived from the original on 28 October 2019. Retrieved 29 September 2019.
^ ^a ^b ^c ^d ^e "World Economic Outlook Database, April 2023". IMF.org. International Monetary Fund. Archived from the original on 28 July 2021. Retrieved 11 April 2023.
^ ^a ^b ^c "Budget, January 2022" (PDF). www.mof.gov.tl/. Timor Leste. p. 74. Archived (PDF) from the original on 11 January 2022. Retrieved 11 April 2023.
^ Timor Leste Archived 14 August 2015 at the Wayback Machine, The World Bank data
^ "Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) - Timor Leste | Data". data.worldbank.org. Archived from the original on 28 July 2021. Retrieved 16 October 2020.
^ "Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population) - Timor Leste | Data". data.worldbank.org. Archived from the original on 28 July 2021. Retrieved 16 October 2020.
^ "Poverty headcount ratio at $5.50 a day (2011 PPP) (% of population) - Timor Leste | Data". data.worldbank.org. Archived from the original on 28 July 2021. Retrieved 16 October 2020.
^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 15 December 2019. Retrieved 9 September 2022.
^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 12 December 2020. Retrieved 11 December 2019.
^ ^a ^b "The World Factbook". CIA.gov. Central Intelligence Agency. Archived from the original on 10 January 2021. Retrieved 8 July 2022.
^ Timor Leste – World Bank Archived 8 November 2016 at the Wayback Machine
^ ^a ^b ^c "- Human Development Reports". Archived (PDF) from the original on 2 April 2019. Retrieved 4 March 2015.
^ Voice of America, 24.06.07, East Timor Facing Food Crisis Archived 14 July 2007 at the Wayback Machine and Ministry of Agriculture, Forestry and Fisheries of Timor-Leste.
^ "Highlights of the 2010 Census Main Results in Timor-Leste" (PDF). Direcção Nacional de Estatística. Archived from the original (PDF) on 28 September 2013.

[cia.gov-1] East Timor Archived 10 January 2021 at the Wayback Machine. The World Factbook. Central Intelligence Agency.

[2] "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Archived from the original on 22 December 2019. Retrieved 29 September 2019.

[3] "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Archived from the original on 28 October 2019. Retrieved 29 September 2019.

[IMFWEOTL-4] "World Economic Outlook Database, April 2023". IMF.org. International Monetary Fund. Archived from the original on 28 July 2021. Retrieved 11 April 2023.

[MOFGOVTL-5] "Budget, January 2022" (PDF). www.mof.gov.tl/. Timor Leste. p. 74. Archived (PDF) from the original on 11 January 2022. Retrieved 11 April 2023.

[WB1-6] Timor Leste Archived 14 August 2015 at the Wayback Machine, The World Bank data

[7] "Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) - Timor Leste | Data". data.worldbank.org. Archived from the original on 28 July 2021. Retrieved 16 October 2020.

[8] "Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population) - Timor Leste | Data". data.worldbank.org. Archived from the original on 28 July 2021. Retrieved 16 October 2020.

[9] "Poverty headcount ratio at $5.50 a day (2011 PPP) (% of population) - Timor Leste | Data". data.worldbank.org. Archived from the original on 28 July 2021. Retrieved 16 October 2020.

[10] "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 15 December 2019. Retrieved 9 September 2022.

[11] "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 12 December 2020. Retrieved 11 December 2019.

[CIA_World_Factbook-12] "The World Factbook". CIA.gov. Central Intelligence Agency. Archived from the original on 10 January 2021. Retrieved 8 July 2022.

[13] Timor Leste – World Bank Archived 8 November 2016 at the Wayback Machine

[UNDP-14] "- Human Development Reports". Archived (PDF) from the original on 2 April 2019. Retrieved 4 March 2015.

[15] Voice of America, 24.06.07, East Timor Facing Food Crisis Archived 14 July 2007 at the Wayback Machine and Ministry of Agriculture, Forestry and Fisheries of Timor-Leste.

[16] "Highlights of the 2010 Census Main Results in Timor-Leste" (PDF). Direcção Nacional de Estatística. Archived from the original (PDF) on 28 September 2013.

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Statistics
Ministry of Finance building, East Timor.
Currency	US dollar (USD) and East Timor centavos^[1]
Fiscal year	Calendar year
Trade organisations	Pacific Alliance
Country group	Least Developed^[2] Low-income economy^[3]
GDP	$1.988 billion (nominal, 2023)^[4] $5.074 billion (PPP, 2023) ^[4]
GDP growth	−1.1% (2018) 1.8% (2019e)^[4] −8.1% (2020e) 1.9% (2021e)^[5]
GDP per capita	$1,425 (nominal, 2023)^[4] $3,637 (PPP, 2023) ^[4]
GDP by sector	agriculture: 9.1% industry: 56.7% services: 34.4% (2017)
Inflation (CPI)	0.96% (2019 est.)
Population below poverty line	49.9%^[6] (2007 est.) 22.0% on less than $1.90/day (2014)^[7] 65.9% on less than $3.20/day (2014)^[8] 91.8% on less than $5.50/day (2014)^[9]
Gini coefficient	28.7 (2014 est.)
Human Development Index	0.607 medium (2021)^[10] (140th) 0.436 low IHDI (2019)^[11]
Labour force	581,000 (2022 est.)
Unemployment	1.79% (2022 est.)
Main industries	printing, soap manufacturing, handicrafts, woven cloth
External
Exports	$60 million (2020 est.)
Export goods	crude petroleum, natural gas, coffee, various vegetables, scrap iron
Main export partners	Singapore 51% China 20% Japan 9% Indonesia 6% Australia 3% (2019)^[12]
Imports	$850 million (2020 est.)
Import goods	refined petroleum, cars, cement, delivery trucks, motorcycles
Main import partners	Indonesia 39% China 27% Singapore 10% Malaysia 5% Thailand 3% (2019)^[12]
Gross external debt	$232.4 million (2021)^[5] 15.63% GDP (2021)^[5]
Public finances
Foreign reserves	$279,000,000 (December 2013)
All values, unless otherwise stated, are in US dollars.