East Timor GDP Annual Growth Rate

The Gross Domestic Product (GDP) in East Timor expanded 8 percent in 2013 from the previous year. GDP Annual Growth Rate in East Timor is reported by the National Statistics Directorate, Timor. GDP Annual Growth Rate in East Timor averaged 6.75 Percent from 2001 until 2013, reaching an all time high of 16.30 Percent in 2001 and a record low of -6.70 Percent in 2002. East Timor is one of the youngest countries in the world. After years of wars and political turmoil, the economy of this once poorest country in Asia, has been steady growing due to offshore oil and gas extraction. Services contribute the most to the country's output (56 percent of GDP), but agriculture (26 percent of GDP) employs around 64 percent of the labour force and remains undeveloped. In 2005, the government has set up the East Timor Petroleum Fund, which now is the main source of funds for infrastructure development and social benefits. Yet, to keep the current pace of development, the government needs to concentrate more spending on improving education, health care and agricultural irrigation. The East Timor GDP Annual Growth Rate re?ects non-oil GDP. This page provides - East Timor GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
8.00 8.20 16.30 -6.70 7.86 | 2014/12 2001 - 2013 Percent Yearly

TO

East Timor GDP Annual Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP 1.29 2012-12-31 1.09 1.29 0.28 1.60 2014-06-30 USD Billion [+]
GDP Annual Growth Rate 8.00 2013-12-31 8.20 16.30 -6.70 7.86 2014-12-31 Percent [+]
GDP per capita 690.83 2012-12-31 654.83 690.83 433.65 761.15 2014-06-30 USD [+]
GDP per capita PPP 1472.53 2012-12-31 1395.79 1472.53 924.33 1607.71 2014-06-30 USD [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

East Timor Inflation Rate at 1.80 Percent  
The inflation rate in East Timor was recorded at 1.80 percent in March of 2014. Inflation Rate in East Timor is reported by the National Statistics Directorate, Timor.
East Timor Unemployment Rate at 9.80 Percent  
Unemployment Rate in East Timor increased to 9.80 percent in 2010 from 7.20 percent in 2004. Unemployment Rate in East Timor is reported by the National Statistics Directorate, Timor.
East Timor Current Account to GDP at 40.00 Percent  
East Timor recorded a Current Account surplus of 40 percent of the country's Gross Domestic Product in 2012. Current Account to GDP in East Timor is reported by the Central Bank of Timor-Leste.
East Timor Current Account at 1900.00 USD Thousand  
East Timor recorded a Current Account surplus of 1900 USD Thousand in 2013. Current Account in East Timor is reported by the Central Bank of Timor-Leste.
East Timor GDP Annual Growth Rate at 8.00 Percent  
The Gross Domestic Product (GDP) in East Timor expanded 8 percent in 2013 from the previous year. GDP Annual Growth Rate in East Timor is reported by the National Statistics Directorate, Timor.
East Timor Balance of Trade at -35237.18 USD Thousand  
East Timor recorded a trade deficit of 35237.18 USD Thousand in February of 2014. Balance of Trade in East Timor is reported by the National Statistics Directorate, Timor.
East Timor Imports at 37747.18 USD Thousand  
Imports in East Timor decreased to 37747.18 USD Thousand in February of 2014 from 99402.29 USD Thousand in January of 2014. Imports in East Timor is reported by the National Statistics Directorate, Timor.
East Timor Exports at 2510.00 USD Thousand  
Exports in East Timor increased to 2510 USD Thousand in February of 2014 from 2243.40 USD Thousand in January of 2014. Exports in East Timor is reported by the National Statistics Directorate, Timor.
East Timor Government Budget at -0.50 Percent of GDP  
East Timor recorded a Government Budget deficit equal to 0.50 percent of the country's Gross Domestic Product in 2012. Government Budget in East Timor is reported by the National Statistics Directorate, Timor.
East Timor GDP per capita at 690.83 USD  
The Gross Domestic Product per capita in East Timor was last recorded at 690.83 US dollars in 2012. The GDP per Capita in East Timor is equivalent to 6 percent of the worlds average. GDP per capita in East Timor is reported by the World Bank.
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