| People | Timor-Leste |
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Economy - overview:
|
In late 1999, about 70% of the economic infrastructure of Timor-Leste was laid waste by Indonesian troops and anti-independence militias. Three hundred thousand people fled westward. Over the next three years a massive international program, manned by 5,000 peacekeepers (8,000 at peak) and 1,300 police officers, led to substantial reconstruction in both urban and rural areas. By the end of 2005, refugees had returned or had settled in Indonesia. The country continues to face great challenges in rebuilding its infrastructure, strengthening the civil administration, and generating jobs for young people entering the work force. The development of oil and gas resources in offshore waters has begun to supplement government revenues ahead of schedule and above expectations - the result of high petroleum prices. The technology-intensive industry, however, has done little to create jobs for the unemployed because there are no production facilities in Timor. Gas is piped to Australia. In June 2005 the National Parliament unanimously approved the creation of a Petroleum Fund to serve as a repository for all petroleum revenues and preserve the value of Timor-Leste's petroleum wealth for future generations. The Fund held assets of US$1.8 billion as of September 2007. The mid-2006 outbreak of violence and civil unrest disrupted both private and public sector economic activity and created 100,000 internally displaced persons - about 10 percent of the population. While real non-oil GDP growth in 2006 was negative, the economy probably rebounded in 2007. The underlying economic policy challenge the country faces remains how best to use oil-and-gas wealth to lift the non-oil economy onto a higher growth path and reduce poverty. In late 2007, the new government announced plans aimed at increasing spending, reducing poverty, and improving the country's infrastructure, but it continues to face capacity constraints. In the short term, the government must also address continuing problems related to the crisis of 2006, especially the displaced Timorese. |
GDP (purchasing power parity):
|
$2.608 billion (2007 est.) |
GDP (official exchange rate):
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$459 million (2007 est.) |
GDP - real growth rate:
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19.8% (2007 est.) |
GDP - per capita (PPP):
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$2,500 (2007 est.) |
GDP - composition by sector:
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agriculture: 32.2%
industry: 12.8%
services: 55% (2005) |
Investment (gross fixed):
|
void |
Population below poverty line:
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42% (2003 est.) |
Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
38 (2002 est.) |
Inflation rate (consumer prices):
|
7.8% (2007 est.) |
Labor force:
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NA |
Labor force participation rate:
|
void |
Labor force - by occupation:
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agriculture: NA%
industry: NA%
services: NA% |
Unemployment rate:
|
50% estimated; note - unemployment in urban areas reached 20%; data do not include underemployed (2001 est.) |
Budget:
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revenues: $733 million
expenditures: $309 million
note: the government passed a transitional budget to cover the latter half of 2007 and has moved the fiscal cycle to a calendar year, starting with the budget they passed for 2008 (FY06/07 est.) |
Budget revenues per capita:
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662 USD per capita |
Public debt:
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void |
Industries:
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printing, soap manufacturing, handicrafts, woven cloth |
Industrial production growth rate:
|
8.5% (2004 est.) |
Electricity - production:
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NA kWh |
Electricity - production per capita:
|
void |
Electricity - consumption:
|
NA kWh |
Electricity - consumption - per capita:
|
void |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh |
Oil - production:
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94,420 bbl/day (2005) |
Oil - production per capita:
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85,157 bbl/day per capita |
Oil - consumption:
|
void |
Oil - consumption - per capita:
|
void |
Oil - exports:
|
void |
Oil - imports:
|
void |
Oil - proved reserves:
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NA |
Natural gas - production:
|
0 cu m (2005) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
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0 cu m (2005 est.) |
Natural gas - imports:
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0 cu m (2005) |
Natural gas - proved reserves:
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200 billion cu m (1 January 2006 est.) |
Agriculture - products:
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coffee, rice, corn, cassava, sweet potatoes, soybeans, cabbage, mangoes, bananas, vanilla |
Current account balance:
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$1.161 billion (2007 est.) |
Current account balance - per capita:
|
1,048 USD per capita |
Exports:
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$10 million; note - excludes oil (2005 est.) |
Exports per capita:
|
10 USD per capita |
Exports - commodities:
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coffee, sandalwood, marble; note - potential for oil and vanilla exports |
Exports - partners:
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US, Germany, Portugal, Australia, Indonesia (2006) |
Imports:
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$202 million (2004 est.) |
Imports per capita:
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183 USD per capita |
Imports - commodities:
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food, gasoline, kerosene, machinery |
Imports - partners:
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void |
Reserves of foreign exchange and gold:
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void |
Reserves of foreign exchange and gold - per capita:
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void |
Debt - external:
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void |
Debt - external - per capita:
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void |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
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void |
Economic aid - recipient:
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$184.7 million (2005 est.) |
Economic aid - recipient per capita:
|
167 USD per capita |
Currency (code):
|
US dollar (USD) |
Exchange rates:
|
the US dollar is used |
Fiscal year:
|
calendar year |
|
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