World Business | Asia | Asia Business | East Timor

Economy - overview:
In late 1999, about 70% of the economic infrastructure of East Timor was laid waste by Indonesian troops and anti-independence militias, and 300,000 people fled westward. Over the next three years, however, 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 2003, all but about 30,000 of the refugees had returned. Growth was held back in 2003 by extensive drought and the gradual winding down of the international presence. The country faces great challenges in continuing the rebuilding of infrastructure, strengthening the infant civil administration, and generating jobs for young people entering the workforce. One promising long-term project is the planned development of oil and gas resources in nearby waters, which have begun to supplement government revenues ahead of schedule.
 

Agriculture - Products
coffee, rice, maize, cassava, sweet potatoes, soybeans, cabbage, mangoes, bananas, vanilla

Airlines
Airlines in Asia
Airlines Worldwide

Airports
Airports in Asia
Airports Worldwide

Country Budget
revenues: $107.7 million
expenditures: $73 million, including capital expenditures of NA (2004 est.)

Currency (code): US dollar (USD)

Currency Exchange Rates: the US dollar is the legal tender

Fiscal Year: 1 July - 30 June

GDP (Gross Domestic Product)
GDP (purchasing power parity):  $370 million (2004 est.)
GDP - real growth rate:  1% (2004 est.)
GDP - per capita:  purchasing power parity - $400 (2004 est.)
GDP - composition by sector:
agriculture: 25.4%
industry: 17.2%
services: 57.4% (2001)

Imports / Exports
Exports:  $8 million (2004 est.)
Exports - commodities:  coffee, sandalwood, marble; note - the potential for oil and vanilla exports
Exports - partners:  Indonesia 100%

Imports:  $167 million (2004 est.)
Imports - commodities:  food, gasoline, kerosene, machinery
Imports - partners:  NA

Industries
printing, soap manufacturing, handicrafts, woven cloth

Investing
Forex, Foreign Exchange Market: Currency Trading

Labor Force & Unemployment Rate
Labor force:  NA
Labor force - by occupation:  NA
Unemployment rate:  50% (including underemployment) (1992 est.)