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Includes historical data for Timor-Leste’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

High Poverty, High Economic Potential

Also known as East Timor, since gaining independence from Indonesia in 2002 after years of conflict, Timor-Leste has pursued policies to bolster its economy and advance living standards for its over 1.3 million citizens. While poverty levels remain high especially among the youth, great progress has been made in improving infrastructure and governance, and attracting foreign investment.

Predominantly an agrarian economy, the recent development of offshore oil and gas resources has greatly supplemented government revenues. Additional strengths include great tourism potential, the total dollarization of the economy as a stabilizing monetary factor, and the financial buffer provided by the Sovereign Wealth Fund.  However, the economic landscape still faces considerable obstacles, with an outsized role of the state in business matters, regulatory burdens impeding private-sector growth, heavy dependence on imports, and vulnerability to natural disasters.

Macroeconomy & Sovereign Data

Type of Government Semi-presidential republic
Capital Dili
Sovereign Ratings S&P: Not rated
Moody’s: Not rated
Fitch: Not rated
Total Population 1.4 million
Median Age 20.9
Adult Per Capita Income (PPP) 14,013.80
Total GDP (2023) 2.0 billion

Timor-Leste GDP & Economic Overview

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Banking & Finance

Trade & Investment

Total Exports USD 978.2 million (2022)
Leading Exports Refined Petroleum
Delivery Trucks
Total Imports USD 371.4 billion (2022)
Leading Imports Crude Petroleum
Natural Gas
Various Vegetables
Scrap Iron                                                                      
Source: World Integrated Trade Solution

Timor Leste Leading Companies

Banco Comercial de Timor-Leste Financials
Timor GAP Energy, Oil & Gas Exploration & Production
Timor Telecom Telecommunication Services
Be Tilor Consumer Staples, Food Distribution
Air Timor Transportation, Airlines

Major Trade Partners — Import

Indonesia 31.9%
China 15.1%
Singapore 13.1%
Hong Kong 10.1%
Vietnam 6.6%

Major Trade Partners — Export

Indonesia 25.4%
United States 22.3%
Germany 13.7%
China 8.4%
Australia 5.9%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000