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• GDP: US$335 million (2005).
• Main exports: Coffee, sandlewood and timber.
• Main imports: Petroleum, food and construction material.
• Main trade partners: Indonesia and Australia.
• Main exports: Coffee, sandlewood and timber.
• Main imports: Petroleum, food and construction material.
• Main trade partners: Indonesia and Australia.
Economy
Subsistence agriculture, forestry and fishing sustain most of the population. The sole export products are coffee beans, timber and sandalwood.
The economy as a whole was chronically underdeveloped as a result of centuries of neglect by the Portuguese. The Indonesians built some basic infrastructure (roads, power, telecommunications), but most of that was destroyed or removed by the Indonesians themselves and their client militias in the aftermath of the August 1999 vote for independence.
Since then, East Timor’s principal source of income has been international aid. However, the country’s originally poor economic prospects have been transformed by the discovery of large oil and gas fields in the Timor Sea, which lies between Timor itself and the north coast of Australia.
East Timor remains one of the region’s poorest nations, with a per capita annual income estimated at between US$200 and US$500.
The economy as a whole was chronically underdeveloped as a result of centuries of neglect by the Portuguese. The Indonesians built some basic infrastructure (roads, power, telecommunications), but most of that was destroyed or removed by the Indonesians themselves and their client militias in the aftermath of the August 1999 vote for independence.
Since then, East Timor’s principal source of income has been international aid. However, the country’s originally poor economic prospects have been transformed by the discovery of large oil and gas fields in the Timor Sea, which lies between Timor itself and the north coast of Australia.
East Timor remains one of the region’s poorest nations, with a per capita annual income estimated at between US$200 and US$500.
Business Contacts
Department for Economic Affairs and Planning
Website: www.gov.east-timor.org
(Limited information and advice is available.)
Website: www.gov.east-timor.org
(Limited information and advice is available.)
