Timor-Leste: Economy | Asian Development Bank

Timor-Leste: Economy

The outlook for growth and inflation is unchanged from the Asian Development Outlook 2017, but unexpectedly strong petroleum income and an updated GDP series prompt lower projections for current account deficits. While public spending remains the key economic driver, presidential and parliamentary elections have had little evident impact on budget execution in 2017. Government spending excluding development partner grants was down by 11.2% year on year in January–July, but this was largely a planned slowdown in disbursements for capital works. Read more from Asian Development Outlook 2017 Update

Note: GDP growth rate forecasts for 2017 and 2018.


Economic forecasts for Pacific countries

Country 2017f 2018f
Cook Islands 5.0 5.0
Fiji 2.9 3.5
Kiribati -0.1 -0.5
Marshall Islands 3.6 2.1
Micronesia, Federated States of 2.7 2.8
Nauru 1.4 –7.2
Palau 2.0 4.5
Papua New Guinea -0.6 -0.3
Samoa 1.3 0.8
Solomon Islands 0.5 0.3
Timor-Leste 2.1 4.1
Tonga 2.7 2.7
Tuvalu 1.1 1.3
Vanuatu 2.0 1.5
Average 0.6 1.0
Country 2017f 2018f
Cook Islands –0.1 0.5
Fiji 3.5 2.5
Kiribati 2.0 2.0
Marshall Islands 0.5 1.0
Micronesia, Federated States of 1.5 2.0
Nauru 6.0 2.0
Palau 1.5 2.0
Papua New Guinea 7.5 7.5
Samoa 1.4 2.0
Solomon Islands 0.5 1.0
Timor-Leste 1.2 3.0
Tonga 2.5 2.5
Tuvalu 2.9 2.5
Vanuatu 2.8 3.3
Average 5.3 5.3
Country 2017f 2018f
Cook Islands 27.6 28.7
Fiji –4.2 –3.6
Kiribati –2.4 –3.0
Marshall Islands 5.0 7.0
Micronesia, Federated States of 4.5 4.5
Nauru 0.5 –1.8
Palau –12.0 –14.0
Papua New Guinea 7.7 6.7
Samoa –2.9 –4.2
Solomon Islands –6.0 –9.0
Timor-Leste –5.9 –36.4
Tonga –7.7 –10.0
Tuvalu –20.2 –24.4
Vanuatu –10.0 –9.5
Average 2.8 –0.8
Country 2015
Cook Islands 24,071
Fiji 4,830
Kiribati 3,390
Marshall Islands 4,770
Micronesia, Federated States of 3,560
Nauru 15,420
Palau 12,180
Papua New Guinea 2,199
Samoa 3,930
Solomon Islands 1,920
Timor-Leste 2,180
Tonga 4,280
Tuvalu 6,230
Vanuatu 3,282

f = forecast number.

Sources:
Asian Development Outlook 2017
Asian Development Outlook 2017 Update