Business Profile in East Timor

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Travel Guide for
East Timor

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trips to East Timor

Business Profile

Timor Oriental

BusinessProfile Statistics • GDP: US$370 million.
• Main exports: Coffee, sandlewood and timber.
• Main imports: Petroleum, foodstuffs, 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. Under the terms of a deal negotiated between East Timor and the Australian government, the East Timorese will receive a fixed income of around US$180 million from 2006. (Additional oil and gas deposits have also been discovered in the same area.) There are some doubts about the integrity of the deal. In any event, until then, East Timor will remain one of the region’s poorest nations, with a per capita annual income of US$550 (2005 estimate). Commercial Information Department for Economic Affairs and Planning
Website: www.gov.east-timor.org
(Limited information and advice is available.)

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