Strong Growth in Timor-Leste’s Non Oil GDP confirmed by the 2012 National Accounts
Minister of State and of the Presidency of the Council of Ministers and
Official Spokesperson for the Government of Timor-Leste
Díli, July 30, 2014
Strong Growth in Timor-Leste’s Non Oil GDP confirmed by the 2012 National Accounts
The “Timor-Leste National Accounts 2000-2012” were officially released on Friday the 25th July at the Timor-Leste Development Partners Meeting. Compiled in accordance with the United Nations System of National Accounts 2008, this set of macroeconomic accounts provides comprehensive and consistent data that is important for policymaking, analysis and research.
This edition of the National Accounts is the fourth published by the General Directorate of Statistics and allows for accurate comparisons of economic activity over the period 2000-2012.
The 2014 edition confirms the strong growth of Timor-Leste’s non-oil Gross Domestic Product [GDP]. In 2012 Timor-Leste’s Non-Oil GDP in constant prices grew by 7.8% with a growth in household final consumption expenditure of 13.1% associated with a significant increase in subsistence agriculture in 2012.
Industry sectors that grew in 2012 were Information and Communication, up 19.6%, Agriculture, Forestry and Fishing, up 14.6%, Real Estate activities, up 14.4%, Public Administration, up 11.0%, other Mining and Quarrying, up 7.9% and Wholesale and Retail Trade, up 7.3%.
The Total GDP in current prices for Timor-Leste in 2012 was $5,579 Million with the oil sector accounting for 77.2% and the non-oil sector accounting for 22.8% of the total GDP, an increase in the proportion of the non-oil contribution to GDP compared to 2011 figures.
Timor-Leste’s National Accounts 2000-2012 are available for download at the website of the General Directorate of Statistics [http://www.dne.mof.gov.tl].
