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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 300,000 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 2003, all but about 30,000 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, which have begun to supplement government revenues ahead of schedule.
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GDP: |
purchasing power parity - $370 million (2004 est.)
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GDP - real growth rate: |
1% (2004 est.)
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GDP - per capita: |
purchasing power parity - $400 (2004 est.)
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GDP - composition by sector: |
agriculture: 25.4%
industry: 17.2%
services: 57.4% (2001)
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Labor force: |
NA
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Labor force - by occupation: |
NA
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Unemployment rate: |
50% (including underemployment) (1992 est.)
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Population below poverty line: |
42% (2003 est.)
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Household income or consumption by percentage share: |
lowest 10%: NA
highest 10%: NA
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Distribution of family income - Gini index: |
38 (2002 est.)
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Inflation rate (consumer prices): |
4% (2003 est.)
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Budget: |
revenues: $107.7 million
expenditures: $73 million, including capital expenditures of NA (2004 est.)
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Agriculture - products: |
coffee, rice, maize, cassava, sweet potatoes, soybeans, cabbage, mangoes, bananas, vanilla
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Industries: |
printing, soap manufacturing, handicrafts, woven cloth
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Industrial production growth rate: |
8.5%
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Electricity - production: |
NA kWh (2002)
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Electricity - production by source: |
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)
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Electricity - consumption: |
NA kWh (2002)
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Electricity - exports: |
0 kWh (2002)
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Electricity - imports: |
0 kWh (2002)
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Exports: |
$8 million (2004 est.)
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Exports - commodities: |
coffee, sandalwood, marble; note - the potential for oil and vanilla exports
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Exports - partners: |
Portugal, Taiwan, Germany, US, Indonesia, Australia
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Imports: |
$167 million (2004 est.)
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Imports - commodities: |
food, gasoline, kerosene, machinery
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Imports - partners: |
Indonesia, Australia, Singapore, Vietnam, Portugal, Malaysia, China
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Debt - external: |
none
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Economic aid - recipient: |
$2.2 billion (1999-2002 est.)
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Currency (code): |
US dollar (USD)
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Currency code: |
USD
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Exchange rates: |
the US dollar is the legal tender
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Fiscal year: |
1 July - 30 June
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