flag East-Timor East-Timor: Trade Profile

Foreign Trade in Figures

Timor-Leste is a country open to foreign trade, which represented 163% of its GDP in 2020 (World Bank, 2022). Crude petroleum (64.6%) and Petroleum Gas (15.8%) represented more than 80.4% of total exports in 2020 (OEC, 2022). The main non-oil export product is limited to coffee (12.2%), which does not compensate for the bill of food imports. Imports are led by Refined Petroleum (12.1% of all imports in 2020), rice (4,4%), cars (2.6%) and excavation machinery with 2.5% (OEC, 2022).

According to 2022 figures from OEC, the country's principal import sources in 2020 were Indonesia (35.6% of total imports), China (30.6%), Singapore (10.6%) and Malaysia (4.8%). Principal export destinations were Singapore (41.1%), South Korea (25.1%) and Japan (16.5%). The factors that limit trade include poor infrastructure, weak development of its financial sector, high interest rates in private banks and the lack of a skilled labour force. The country has very few trade barriers and customs duties are low (the average applied tariff rate is 2.5%). Timor-Leste is a member of the IMF, the World Bank and the Asian Developmental Bank, and is currently pursuing negotiations to become a member of the ASEAN.

Timor-Leste has a structural trade deficit. Imports (excluding services) reached 622 million USD in 2020, while exports (in decrease on the previous year) were only about 97.8 million USD, resulting in a trade balance of 524.2 million USD (WTO, World Bank, 2021).

 
Foreign Trade Indicators 20162017201820192020
Imports of Goods (million USD) 780554520591625
Exports of Goods (million USD) 202345154264
Imports of Services (million USD) 607316344320209
Exports of Services (million USD) 7777827633
Imports of Goods and Services (Annual % Change) 8-9323n/a
Exports of Goods and Services (Annual % Change) 8-39171,247n/a
Trade Balance (million USD) -539-664-589-566-510
Foreign Trade (in % of GDP) 60576384n/a
Imports of Goods and Services (in % of GDP) 57546056n/a
Exports of Goods and Services (in % of GDP) 32328n/a

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

Return to top

 
 

To go further, check out our service Import Export Flows

 
 

Main Services

Source: United Nations Statistics Division, Latest Available Data

Return to top

Commercial Policy

International Economic Cooperation
Member of International Federation for East Timor - IEFT
Assessment of Commercial Policy
East Timor and WTO
Average Customs Duty (Excluding Agricultural Products)
6%
 
 

Trade Compliance

International Conventions
Party of the International Coffee Agreement 2007
International Economic Cooperation
Member of International Federation for East Timor - IEFT
Useful Resources
Ministry of Finances
National Organisation of Intellectual Property
Department of the Legal and Treaties Affairs
 
 
 

Return to top

Any Comment About This Content? Report It to Us.

 

© Export Entreprises SA, All Rights Reserved.
Latest Update: October 2022