Agriculture > products
coffee, rice, maize, cassava, sweet potatoes, soybeans, cabbage, mangoes, bananas, vanilla |
|
Budget > Revenues
|
$107,700,000.00 |
|
[21st of 166]
|
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Source: CIA World Factbook, 28 July 2005 |
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Current account balance
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$1,161,000,000.00 |
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[50th of 181]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Debt > External
|
$0.00 |
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[134th of 136]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Distribution of family income > Gini index
|
38 |
|
[12th of 43]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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. |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
Exchange rates
the US dollar is the legal tender |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Exports
|
$10,000,000.00 |
|
[167th of 189]
|
|
Source: CIA World Factbook, 28 July 2005 |
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Exports to US
|
$100,000.00 |
|
[201st of 224]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP
|
$356,000,000.00 |
|
[162nd of 203]
|
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Source: US Census Bureau |
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GDP (purchasing power parity)
|
$2,608,000,000.00 |
|
[165th of 187]
|
|
Source: World Development Indicators database and CIA World Factbook |
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GDP > Composition by sector > Industry
|
12.8% |
|
[132nd of 146]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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GDP > Real growth rate
|
19.8% |
|
[3rd of 198]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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GDP growth > annual %
|
2.5 annual %
|
|
[135th of 187]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Gross fixed capital formation > constant 2000 US$
|
107,748,000 constant 2000 US$
|
|
[114th of 145]
|
|
Source: World Development Indicators database |
|
Human Development Index
|
0.513 |
|
[141st of 178]
|
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Source: World Development Indicators database |
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Inflation rate (consumer prices)
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7.8% |
|
[60th of 192]
|
|
Source: Human Development Report 2006, United Nations Development Programme |
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Population below poverty line
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42% |
|
[17th of 46]
|
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Services, etc., value added > constant 2000 US$
|
179,300,000 constant 2000 US$
|
|
[146th of 164]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Trade balance with US
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$700,000.00 |
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[87th of 224]
|
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Source: World Development Indicators database |
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