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, pork, beans, coffee (2023).
More about the economy of Timor-Leste
Labor force 615,900 (2024 est.)
Industrial production growth rate -57% (2023 est.)
Industries printing, soap manufacturing, handicrafts, woven cloth
Population below poverty line
Taxes and other revenues 21.6% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Debt - external
Debt - external 2023 $238.042 million (2023 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024 $736.967 million (2024 est.)
Reserves of foreign exchange and gold 2023 $781.995 million (2023 est.)
Reserves of foreign exchange and gold 2022 $830.81 million (2022 est.)
Current account balance
Current account balance 2024 -$529.738 million (2024 est.)
Current account balance 2023 -$177.336 million (2023 est.)
Current account balance 2022 $408.059 million (2022 est.)
Budget
Revenues $1.877 billion (2022 est.)
Expenditures $1.684 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2024 11.7% of GDP (2024 est.)
Remittances 2023 9.3% of GDP (2023 est.)
Remittances 2022 5.1% of GDP (2022 est.)
Imports
Imports 2024 $1.197 billion (2024 est.)
Imports 2023 $1.169 billion (2023 est.)
Imports 2022 $1.286 billion (2022 est.)
Imports (partners) Indonesia 34%, China 26%, Singapore 9%, Taiwan 5%, India 4% (2023)
Comodities Imports force refined petroleum, rice, cars, plastic products, trucks (2023)
Exports
Imports 2024 $1.197 billion (2024 est.)
Imports 2023 $1.169 billion (2023 est.)
Imports 2022 $1.286 billion (2022 est.)
Exports (partners) China 46%, Singapore 25%, Japan 15%, Indonesia 5%, USA 3% (2023)
Comodities Exports force crude petroleum, natural gas, coffee, scrap iron, telephones (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $5.863 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $5.995 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $7.322 billion (2022 est.)
GDP (official exchange rate) $1.881 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $4,200 (2024 est.)
Real GDP per capita 2023 $4,300 (2023 est.)
Real GDP per capita 2022 $5,300 (2022 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 2024 1.7% (2024 est.)
Unemployment rate 2023 1.6% (2023 est.)
Unemployment rate 2022 1.6% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 3.4% (2024 est.)
Male 3.2% (2024 est.)
Female 3.7% (2024 est.)
All Important Facts about Timor-Leste

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Timor-Leste is found in South-Eastern Asia