|
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 the end of
2005, all refugees either returned or resettled in Indonesia. Non-petroleum
GDP growth was held back in 2003 by extensive drought and the gradual
winding down of the international presence but recovered somewhat in 2004.
The country faces great challenges in continuing the rebuilding of
infrastructure, strengthening the infant civil administration, and
generating jobs for young people entering the work force. The development of
oil and gas resources in nearby waters has begun to supplement government
revenues ahead of schedule and above expectations - the result of high
petroleum prices - but the technology-intensive industry does little to
create jobs for the unemployed, because there are no production facilities
in Timor and the gas is piped to Australia. The parliament in June 2005
unanimously approved the creation of a Petroleum Fund to serve as a
repository for all petroleum revenues and preserve the value of East Timor's
petroleum wealth for future generations. |
|
GDP (purchasing power parity):
|
$370 million (2004 est.)
|
|
GDP (official exchange rate):
|
NA |
|
GDP - real growth rate:
|
1% (2004 est.) |
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GDP - per capita (PPP):
|
$400 (2004 est.) |
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GDP - composition by sector:
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agriculture: 25.4%
industry: 17.2%
services: 57.4% (2001) |
|
Labor force:
|
NA |
|
Labor force - by occupation:
|
agriculture NA%, industry
NA%, services NA% |
|
Unemployment rate:
|
50% estimated; note -
unemployment in urban areas reached 20%; data do not include underemployed
(2001 est.)
|
|
Population below poverty line:
|
42% (2003 est.) |
|
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
|
Distribution of family income - Gini index:
|
38 (2002 est.) |
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Inflation rate (consumer prices):
|
1.8% (2004) |
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Budget:
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revenues: $107.7
million
expenditures: $73 million; including capital expenditures of $NA
(2004 est.) |
|
Agriculture - products:
|
coffee, rice, corn, cassava,
sweet potatoes, soybeans, cabbage, mangoes, bananas, vanilla |
|
Industries:
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printing, soap manufacturing,
handicrafts, woven cloth |
|
Industrial production growth rate:
|
8.5% |
|
Electricity - production:
|
NA kWh |
|
Electricity - production by source:
|
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)
|
|
Electricity - consumption:
|
NA kWh |
|
Electricity - exports:
|
0 kWh (2003) |
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Electricity - imports:
|
0 kWh (2003) |
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Exports:
|
$10 million; note - excludes
oil (2005 est.) |
|
Exports - commodities:
|
coffee, sandalwood, marble;
note - potential for oil and vanilla exports |
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Exports - partners:
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Indonesia 100% (2004) |
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Imports:
|
$202 million (2004 est.)
|
|
Imports - commodities:
|
food, gasoline, kerosene,
machinery
|
|
Debt - external:
|
$0 |
|
Economic aid - recipient:
|
$2.2 billion (1999-2002 est.)
|
|
Currency (code):
|
US dollar (USD) |
|
Currency code:
|
USD |
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Exchange rates:
|
the US dollar is used |
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Fiscal year:
|
1 July - 30 June |
