Battery price trend analysis in Timor-Leste

What is Timor-Leste's economy like?

Timor-Leste’s economy relies on converting finite, non-renewable oil and gas resources into monetary assets. Oil production began in 2005, has been declining since 2014, and is projected to cease in 2023, though it could potentially resume if additional commercial reserves are discovered and developed.

How much debt does Timor-Leste have?

Timor-Leste has no public debt to individuals, although plans are being made to issue government bonds. Foreign debt is low but growing. Contracts signed for loans from the World Bank, ADB and Japan total about $850 million, of which $280 million has been disbursed to date, all for road construction.

How can Timor-Leste reduce its trade deficit?

To narrow its trade deficit, Timor-Leste could reduce imports by strengthening agriculture and light industry to meet domestic needs and by replacing electricity generated from imported diesel fuel with renewable energy. Community-based tourism could generate much-needed foreign exchange.

Should Timor-Leste diversify its economy?

A serious effort is required to diversify the economy and develop the non-oil sectors based on Timor-Leste’s greatest asset – its people. Currently undeveloped oil and gas resources, including Sunrise, might fund the country for a few more years, but they cannot match the amount of revenue already received.

Does Timor-Leste have a security problem?

According to an Asia Foundation survey in early 2022, 61% of people in Timor-Leste believe that security has improved over the past year. Only 4% think it has worsened. However, 53% expressed concern about tensions in their community, an increase since 2018. No recent polling data on inter-citizen trust is available.

Is Timor-Leste a good place to start a business?

Private enterprises are legally allowed to operate in Timor-Leste. The state has tried to offer local entrepreneurs legal security and a significant share of opportunities for public contracts, although this has sometimes been conducted in a clientelistic fashion. At 10%, corporate and personal income tax rates are among the lowest in the world.