East-Timor: Economic Outline

Economic Indicators

East Timor has recorded a strong economic growth during the last recent years, mainly sustained by the public sector with an increasing program of expenditures (rebuilding the country's infrastructures which were destroyed during the civil war, and relocating its population). The revenues from oil and natural gas exploitation are placed into a wealth utilization fund, which reinforces this growth. The country was lightly touched by the global economic crisis, due to its limited traditional transmission channels (trade, investments, finance). After having attained a growth rate of two digits in 2008-2009, the growth is estimated at 7.9% in 2010 and the prospects remain positive.

The country continues its reconstruction process and economic restructure into which it engaged itself after the end of the war. Moreover, being aware of its dependence in oil, the country has committed to develop the non-oil sectors and to create an attractive business environment. In April, the country presented its Strategic Development Plan for 2011-2030, which anticipates investments in the health care, education and infrastructure sectors.

East Timor is the poorest country of Southeast Asia. Unemployment is reaching very high levels, mostly in the city, and progress is essential in the fields of health care and education.

Main Indicators	2009	2010	2011	2012 (e)	2013 (e)
GDP (billions USD)	0.56	0.63	0.71	0.81	0.93
GDP (Constant Prices, Annual % Change)	12.9	6.1	7.3e	8.6	9.7
GDP per Capita (USD)	534e	588	649	721	812
Inflation Rate (%)	0.1	4.9	10.5	6.0	6.0
Current Account (billions USD)	1.36e	1.43e	1.40e	1.35	0.98
Current Account (in % of GDP)	245.4e	227.1e	196.9	104.8	-

Source: IMF - World Economic Outlook Database - Last Available Data.

Note: (e) Estimated Data

Main Sectors of Industry

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	-	-	-
Value Added (in % of GDP)	25.8	18.5	55.7
Value Added (Annual % Change)	-14.3	22.2	30.2