East Timor GDP Annual Growth Rate2021 Data - 2022 Forecast - 2001-2020 Historical

Name: East Timor GDP Annual Growth Rate
Creator: TRADING ECONOMICS
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Keywords: East Timor,GDP Annual Growth Rate,data,chart,actual,historical,values,calendar,forecast,graph,2021,2022,2023

The Gross Domestic Product (GDP) in East Timor contracted 6.80 percent in the fourth quarter of 2020 over the same quarter of the previous year. source: National Statistics Directorate, Timor

GDP Annual Growth Rate in East Timor averaged 3.23 percent from 2001 until 2020, reaching an all time high of 16.30 percent in 2001 and a record low of -6.80 percent in 2020. This page provides - East Timor GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. East Timor GDP Annual Growth Rate - values, historical data and charts - was last updated on June of 2022.

GDP Annual Growth Rate in East Timor is expected to reach 2.60 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the East Timor GDP Annual Growth Rate is projected to trend around 4.60 percent in 2022 and 4.80 percent in 2023, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Annual Growth Rate	-6.80	3.10	percent	Dec 2020

East Timor GDP Annual Growth Rate

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.