Timor-Leste - Economy
How is the economy of Timor-Leste? Based on the information we have, Timor-Leste has a lower middle-income Southeast Asian economy; government expenditures funded via oil fund drawdowns; endemic corruption undermines growth; foreign aid-dependent; wide-scale poverty, unemployment, and illiteracy. Key agricultural products in this country include: maize, rice, coconuts, root vegetables, vegetables, cassava, other meats, coffee, beans, pork (2022).
More about the economy of Timor-Leste
Labor force 607,000 (2023 est.)
Industrial production growth rate -56.97% (2023 est.)
Industries printing, soap manufacturing, handicrafts, woven cloth
Population below poverty line 41.8% (2014 est.)
Taxes and other revenues 21.64% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Debt - external
Debt - external 2023 $259.088 million (2023 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $781.995 million (2023 est.)
Reserves of foreign exchange and gold 2022 $830.81 million (2022 est.)
Reserves of foreign exchange and gold 2021 $934.781 million (2021 est.)
Current account balance
Current account balance 2023 -$17.331 million (2023 est.)
Current account balance 2022 $474.005 million (2022 est.)
Current account balance 2021 $1.524 billion (2021 est.)
Public debt
Public debt 2017 3.8% of GDP (2017 est.)
Budget
Revenues $1.877 billion (2022 est.)
Expenditures $1.684 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 9.28% of GDP (2023 est.)
Remittances 2022 5.12% of GDP (2022 est.)
Remittances 2021 4.14% of GDP (2021 est.)
Household income
Lowest 10% 4% (2014 est.)
Highest 10% 24% (2014 est.)
Imports
Imports 2023 $1.204 billion (2023 est.)
Imports 2022 $1.405 billion (2022 est.)
Imports 2021 $1.298 billion (2021 est.)
Imports (partners) Indonesia 27%, China 23%, Singapore 9%, Australia 6%, Malaysia 6% (2022)
Comodities Imports force refined petroleum, rice, cars, coal, cranes (2022)
Exports
Imports 2023 $1.204 billion (2023 est.)
Imports 2022 $1.405 billion (2022 est.)
Imports 2021 $1.298 billion (2021 est.)
Exports (partners) China 25%, Indonesia 20%, Japan 14%, South Korea 13%, Thailand 7% (2022)
Comodities Exports force crude petroleum, coffee, natural gas, beer, construction vehicles (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $5.992 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $7.318 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $9.214 billion (2021 est.)
GDP (official exchange rate) $2.08 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $4,300 (2023 est.)
Real GDP per capita 2022 $5,300 (2022 est.)
Real GDP per capita 2021 $6,800 (2021 est.)
GDP - composition, by sector of origin
Agriculture 16.9% (2023 est.)
Industry 23.9% (2023 est.)
Services 61% (2023 est.)
GDP - composition, by end use
Household consumption 70% (2023 est.)
Government consumption 52.9% (2023 est.)
Investment in fixed capital 17.4% (2023 est.)
Investment in inventories 3.1% (2023 est.)
Exports of goods and services 22.9% (2023 est.)
Imports of goods and services -66.4% (2023 est.)
Unemployment rate
Unemployment rate 2023 1.52% (2023 est.)
Unemployment rate 2022 1.54% (2022 est.)
Unemployment rate 2021 2.34% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 3.2% (2023 est.)
Male 3.1% (2023 est.)
Female 3.2% (2023 est.)
All Important Facts about Timor-Leste

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Timor-Leste is found in South-Eastern Asia