East Timor Economy - 2004

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 260,000 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 mid-2002, all but about 50,000 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, but the government faces a substantial financing gap over the next several years before these revenues start flowing into state coffers.

GDP:
purchasing power parity - $440 million (2001 est.)

GDP - real growth rate:
-3% (2003 est.)

GDP - per capita:
purchasing power parity - $500 (2001 est.)

GDP - composition by sector:
agriculture: 25.4%
industry: 17.2%
services: 57.4% (2001)

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.)

Inflation rate (consumer prices):
8% NA% (2003 est.)

Labor force:
NA

Labor force - by occupation:
NA

Unemployment rate:
50% (including underemployment) (1992 est.)

Budget:
revenues: $36 million
expenditures: $97 million, including capital expenditures of $NA (2003 est.)

Industries:
printing, soap manufacturing, handicrafts, woven cloth

Industrial production growth rate:
8.5%

Electricity - production:
NA kWh (2001)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%

Electricity - consumption:
NA kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

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

Exports:
$8 million (2001 est.)

Exports - commodities:
coffee, sandalwood, marble; note - the potential for oil and vanilla exports

Exports - partners:
NA

Imports:
$237 million (2001 est.)

Imports - commodities:
mainly food (2001)

Imports - partners:
NA

Debt - external:
$NA

Economic aid - recipient:
$2.2 billion (1999-2002 est.)

Currency:
US dollar (USD)

Currency code:
IDR

Exchange rates:
the US dollar is the legal tender