Country Profiles
Situated 640kms from Darwin at the eastern tip of the Indonesian archipelago, Timor-Leste (East Timor) is a mountainous republic currently enjoying its longest period of post-independence stability. The predominantly Catholic population has the highest birth rate in the world and is also growing with returning citizens. It has been 10 years since Timor-Leste lost 70% of its infrastructure and over 300,000 people to exile or worse when the power vacuum from departing colonial administrator Portugal led to Indonesia’s invasion. Intensive United Nations support, largely administered by Australia, saw independence declared in 2002. Australia’s Official Development Assistance budget for East Timor in 2008–09 was AUD$96.34 million. The East Timorese economy’s saviour is off-shore fuel deposits. The national Petroleum Fund has now accumulated
Population:
CREDIT: albert ziraj
East Timor (Timor-Leste)
savings of over US$5.3 billion. Maritime border and gas field negotiations with Australia are ongoing. Both governments are courting the prospect of on-shore processing facilities from the Woodside Gas project in the Greater Sunrise gas fields. At the time of publication, the East Timorese have rejected Woodside’s latest plan for a floating processing platform, reputedly worth US$13 billion for both countries. But non-hydrocarbon industry will be vitally important to Timor-Leste’s future economic stability. An excellent fair trade
coffee crop provides for 90% of non-fuel exports and is set to rise in value with world prices. Agriculture, transportation, telecommunication, alternative energy and other infrastructure requirements are seen as priorities. The Investment and Export Promotion Agency’s creation of TradeInvest, together with reformed commercial legislature, have generated a more competitive and attractive investment environment in the private sector.
Contact TradeInvest Timor-Leste Tel: +670 726 6909 Email: tradeinvest_tl@yahoo.com
1.1 million
Data compiled with the assistance of Pacific Islands Trade & Invest (Sydney).
Capital: Dili Surface Area:
14,874 sq km
People: Timorese, Chinese minority Time Zones:
GMT +9 hrs
business Language:
Tetum (official), Portuguese (official), Indonesian, English
Political Status: Republic Nominal GDP: US$590 million (2009) INFLATION:
4% (2010)
Currency: US dollar, local coinage Major industrial sectors:
Petroleum, agriculture
Exports:
Coffee, oil
Major export markets:
Indonesia, Singapore, Australia
Imports: Vehicles, food, refined petroleum products Major import markets: Australia, Germany, Portugal WORLD BANK EASE OF DOING BUSINESS RANKING 2010:
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