week 1 task
Gained independence from Portugal (1975) and Indonesia (2002)
GDP: 6.6 million
Population: 1.2 million
Imports: In 2014 Timor-Leste imported $627M, making it the 180th largest importer in the world. During the last five years the imports of Timor-Leste have increased at an annualised rate of 11.9%, from $357M in 2009 to $627M in 2014. The most recent imports are led by Refined Petroleum which represent 15.7% of the total imports of Timor-Leste, followed by Rice, which account for 9.7%.
Exports: 2014 Timor-Leste exported $119M, making it the 184th largest exporter in the world. During the last five years the exports of Timor-Leste have increased at an annualized rate of 4.3%, from $96.7M in 2009 to $119M in 2014. The most recent exports are led by Crude Petroleum which represent 40.9% of the total exports of Timor-Leste, followed by Petroleum Gas, which account for 40%.
Timor-Leste has made some progress toward macroeconomic stability since achieving independence in 2002. Gains in poverty reduction and income growth have been driven largely by development of the oil and gas sector.
The Democratic Republic of Timor-Leste became independent in 2002, and successive governments have struggled to pacify the country. Timor-Leste remains one of East Asia’s poorest countries. Economic liberalisation has mostly stalled, and the economy depends heavily on foreign aid. Oil and gas profits account for more than 95 percent of government revenue.
week 2 task
Measuring health and education factors by comparing Timor-Leste to a developed country (Japan).
Health And Education Measurement Graph 1
Education: Japan has 1.979 children that don't have an access to primary school while Timor-Leste has 27.710
Health: Japan's total fertility rate is 1.4 while Timor Leste's is 6.2. However having lots of children in Timor-Leste is not a problem because the government encourages
week 4 Task
Barrier to both growth and development in Timor-Leste
Over-specialisation : "The most recent exports are led by Crude Petroleum which represent 40.9% of the total exports of Timor-Leste, followed by Petroleum Gas, which account for 40%." This quotation is extracted from the export section of Timor Leste. As we can see, this country is over specialised in Crude petroleum and Petroleum gas
Over-Specialization of export in Timor-Leste
Limitations in exports: 90% Government revenue is generated by the presence of oil and gas. Presented below is the oil and gas sector of Timor-Leste. As we can see, Timor-Leste shares its natural resources with Australia. This is one of the reason Timor-Leste cannot maximise its use of natural resources.
Natural resources limitations Diagram
Price Volatility: Timor Leste's dependance towards its petroleum industries make them suffer price volatility hence the unstable price of petroleum.