East Timor has a GDP of $1.88B compared to $33.5B for Iceland, ranking 180/197 and 108/197 by economy size, respectively.
East Timor has $249M in government debt (13.9% of GDP), compared to $19.8B (52.9% of GDP) in Iceland.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
East Timor
|
Iceland
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | - | - | $252,169,712 | $2,370,633,619 |
| 1961 | - | - | $257,703,245 | $2,368,874,988 |
| 1962 | - | - | $289,200,704 | $2,565,841,580 |
| 1963 | - | - | $345,175,036 | $2,829,636,122 |
| 1964 | - | - | $440,797,869 | $3,109,258,337 |
| 1965 | - | - | $531,569,564 | $3,336,121,643 |
| 1966 | - | - | $638,349,755 | $3,628,054,270 |
| 1967 | - | - | $630,567,116 | $3,582,329,882 |
| 1968 | - | - | $481,532,848 | $3,385,363,291 |
| 1969 | - | - | $420,945,148 | $3,466,260,284 |
| 1970 | - | - | $526,704,545 | $3,724,778,935 |
| 1971 | - | - | $670,251,136 | $4,211,266,267 |
| 1972 | - | - | $839,652,164 | $4,471,410,267 |
| 1973 | - | - | $1,154,440,253 | $4,775,734,886 |
| 1974 | - | - | $1,515,190,595 | $5,048,252,272 |
| 1975 | - | - | $1,406,875,081 | $5,080,871,813 |
| 1976 | - | - | $1,669,488,390 | $5,383,659,634 |
| 1977 | - | - | $2,208,509,076 | $5,858,621,017 |
| 1978 | - | - | $2,511,826,196 | $6,211,117,520 |
| 1979 | - | - | $2,853,435,054 | $6,513,014,004 |
| 1980 | - | - | $3,381,419,251 | $6,887,376,883 |
| 1981 | - | - | $3,492,997,010 | $7,181,123,997 |
| 1982 | - | - | $3,206,626,645 | $7,335,846,073 |
| 1983 | - | - | $2,765,950,336 | $7,178,040,161 |
| 1984 | - | - | $2,864,441,387 | $7,474,429,927 |
| 1985 | - | - | $2,984,052,357 | $7,720,551,044 |
| 1986 | - | - | $3,989,622,739 | $8,204,671,437 |
| 1987 | - | - | $5,520,318,405 | $8,905,837,716 |
| 1988 | - | - | $6,106,635,816 | $8,897,846,863 |
| 1989 | - | - | $5,672,569,449 | $8,920,842,447 |
| 1990 | $128,210,142 | $481,437,141 | $6,468,736,356 | $9,025,160,130 |
| 1991 | $147,713,000 | $533,019,666 | $6,909,730,288 | $9,004,986,592 |
| 1992 | $187,891,500 | $588,770,963 | $7,080,981,738 | $8,701,167,877 |
| 1993 | $216,914,400 | $648,853,659 | $6,218,581,532 | $8,815,453,321 |
| 1994 | $239,040,500 | $695,070,456 | $6,389,460,343 | $9,133,590,508 |
| 1995 | $262,819,900 | $741,509,953 | $7,123,633,418 | $9,144,238,786 |
| 1996 | $306,956,900 | $800,698,650 | $7,426,082,271 | $9,561,867,469 |
| 1997 | $319,972,700 | $832,726,548 | $7,569,672,925 | $10,113,741,401 |
| 1998 | $325,729,800 | $816,072,049 | $8,503,746,468 | $10,858,455,907 |
| 1999 | $225,357,600 | $526,754,667 | $8,982,047,589 | $11,296,586,996 |
| 2000 | $366,924,300 | $832,683,748 | $9,025,660,362 | $11,859,726,688 |
| 2001 | $477,443,500 | $968,839,039 | $8,234,846,805 | $12,335,716,527 |
| 2002 | $469,455,500 | $903,891,443 | $9,318,395,055 | $12,404,737,217 |
| 2003 | $490,439,100 | $884,166,144 | $11,429,333,038 | $12,670,532,079 |
| 2004 | $440,772,000 | $887,702,844 | $13,825,302,536 | $13,659,137,605 |
| 2005 | $462,268,000 | $914,197,043 | $16,852,963,067 | $14,495,683,163 |
| 2006 | $453,792,400 | $876,567,845 | $17,465,318,552 | $15,411,374,457 |
| 2007 | $542,795,400 | $966,550,939 | $21,652,505,597 | $16,714,384,607 |
| 2008 | $648,523,600 | $1,076,687,532 | $18,074,622,987 | $17,083,688,336 |
| 2009 | $726,937,800 | $1,185,938,525 | $13,154,414,219 | $15,774,427,003 |
| 2010 | $881,909,300 | $1,296,604,518 | $13,751,161,918 | $15,327,572,990 |
| 2011 | $1,042,534,600 | $1,373,863,214 | $15,221,622,926 | $15,610,486,136 |
| 2012 | $1,160,555,000 | $1,440,641,509 | $14,751,508,134 | $15,776,524,980 |
| 2013 | $1,395,727,400 | $1,485,364,307 | $16,125,060,515 | $16,494,745,015 |
| 2014 | $1,447,535,200 | $1,551,797,202 | $17,867,662,178 | $16,773,046,832 |
| 2015 | $1,590,282,400 | $1,590,282,400 | $17,517,210,519 | $17,517,210,519 |
| 2016 | $1,640,464,600 | $1,638,148,797 | $20,793,168,031 | $18,621,440,663 |
| 2017 | $1,584,878,400 | $1,586,016,100 | $24,728,285,177 | $19,402,600,563 |
| 2018 | $1,555,988,614 | $1,586,017,920 | $26,260,850,582 | $20,351,227,271 |
| 2019 | $2,032,550,389 | $1,957,336,651 | $24,681,343,649 | $20,729,999,825 |
| 2020 | $2,162,619,241 | $2,582,938,998 | $21,629,953,194 | $19,291,243,916 |
| 2021 | $3,624,889,673 | $2,720,236,116 | $25,770,339,317 | $20,262,250,570 |
| 2022 | $3,208,593,982 | $2,161,456,509 | $28,696,453,180 | $22,081,592,143 |
| 2023 | $2,079,916,909 | $1,769,697,035 | $31,452,223,862 | $23,328,420,812 |
| 2024 | $1,881,265,333 | $1,730,956,216 | $33,462,807,983 | $23,448,996,816 |
Economic indicators
|
East Timor
|
Iceland
|
|
|---|---|---|
| Gross domestic product |
$1.88B
2024 |
$33.5B
2024 |
| GDP rank |
180/197
2024 |
108/197
2024 |
| GDP growth |
-9.55%
2023-2024 |
6.39%
2023-2024 |
| GDP per capita |
$1,343
2024 |
$82,704
2024 |
| GDP per capita rank |
166/197
2024 |
10/197
2024 |
| GDP per capita, PPP |
$4,758
2024 |
$78,259
2024 |
| Government debt |
$249M
2024 |
$19.8B
2024 |
| Debt-to-GDP ratio |
13.9%
2025 |
52.9%
2025 |
| Government debt per person |
$177.7
2024 |
$48,859
2024 |
| Government debt per person rank |
182/185
2024 |
9/185
2024 |
| Average annual personal income after taxes |
$1,668
2025 |
$54,155
2025 |
| Number of billionaires | n/a |
1
2025 |
| Income share by richest 10% |
24%
2014 |
22.4%
2019 |
| Income share by poorest 10% |
4%
2014 |
3.7%
2019 |
| Government expenditure, % of GDP |
96.6%
2025 |
44.5%
2025 |
| Consumer prices inflation |
0.9%
2024-2025 |
5.86%
2023-2024 |
| Central bank interest rate | n/a |
7.5%
2025 |
| Unemployment rate |
1.54%
2022 |
3.56%
2024 |
| Population |
1433311
|
412970
|
GDP per capita in East Timor vs Iceland
East Timor's GDP per capita is $1,343, ranking 166/197, compared to $82,704 in Iceland, ranking 10/197. Adjusted for purchasing power (GDP per capita PPP), East Timor ranks 159th at $4,758, while Iceland ranks 15th at $78,259.
| Year | Current $ | |||
|---|---|---|---|---|
|
East Timor
|
Iceland
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | - | - | $1,436 | - |
| 1961 | - | - | $1,439 | - |
| 1962 | - | - | $1,586 | - |
| 1963 | - | - | $1,859 | - |
| 1964 | - | - | $2,332 | - |
| 1965 | - | - | $2,764 | - |
| 1966 | - | - | $3,264 | - |
| 1967 | - | - | $3,173 | - |
| 1968 | - | - | $2,390 | - |
| 1969 | - | - | $2,070 | - |
| 1970 | - | - | $2,576 | - |
| 1971 | - | - | $3,252 | - |
| 1972 | - | - | $4,015 | - |
| 1973 | - | - | $5,437 | - |
| 1974 | - | - | $7,041 | - |
| 1975 | - | - | $6,454 | - |
| 1976 | - | - | $7,583 | - |
| 1977 | - | - | $9,957 | - |
| 1978 | - | - | $11,237 | - |
| 1979 | - | - | $12,641 | - |
| 1980 | - | - | $14,822 | - |
| 1981 | - | - | $15,137 | - |
| 1982 | - | - | $13,712 | - |
| 1983 | - | - | $11,672 | - |
| 1984 | - | - | $11,960 | - |
| 1985 | - | - | $12,361 | - |
| 1986 | - | - | $16,406 | - |
| 1987 | - | - | $22,453 | - |
| 1988 | - | - | $24,452 | - |
| 1989 | - | - | $22,434 | - |
| 1990 | $168.6 | $685 | $25,385 | $21,970 |
| 1991 | $189.8 | $766 | $26,803 | $22,401 |
| 1992 | $235.1 | $843 | $27,124 | $21,863 |
| 1993 | $264.1 | $925 | $23,580 | $22,445 |
| 1994 | $283.1 | $985 | $24,019 | $23,547 |
| 1995 | $303 | $1,043 | $26,634 | $23,938 |
| 1996 | $344 | $1,116 | $27,615 | $24,767 |
| 1997 | $349 | $1,149 | $27,919 | $26,868 |
| 1998 | $346 | $1,108 | $31,030 | $28,721 |
| 1999 | $270 | $819 | $32,382 | $29,558 |
| 2000 | $492 | $1,483 | $32,096 | $29,783 |
| 2001 | $588 | $1,619 | $28,897 | $31,885 |
| 2002 | $534 | $1,417 | $32,409 | $32,607 |
| 2003 | $535 | $1,355 | $39,477 | $32,701 |
| 2004 | $474 | $1,379 | $47,335 | $35,617 |
| 2005 | $487 | $1,435 | $56,795 | $37,323 |
| 2006 | $465 | $1,377 | $57,493 | $39,700 |
| 2007 | $540 | $1,516 | $69,496 | $41,473 |
| 2008 | $628 | $1,675 | $56,943 | $43,728 |
| 2009 | $687 | $1,810 | $41,301 | $41,863 |
| 2010 | $813 | $1,955 | $43,237 | $39,768 |
| 2011 | $939 | $2,066 | $47,715 | $40,937 |
| 2012 | $1,023 | $2,386 | $45,996 | $42,004 |
| 2013 | $1,205 | $2,566 | $49,805 | $44,410 |
| 2014 | $1,225 | $2,860 | $54,577 | $45,997 |
| 2015 | $1,320 | $3,108 | $52,952 | $49,214 |
| 2016 | $1,336 | $3,391 | $61,988 | $53,480 |
| 2017 | $1,266 | $3,463 | $72,010 | $55,638 |
| 2018 | $1,219 | $3,561 | $74,452 | $57,198 |
| 2019 | $1,562 | $4,557 | $68,452 | $60,524 |
| 2020 | $1,631 | $6,132 | $59,024 | $55,797 |
| 2021 | $2,685 | $6,825 | $69,178 | $61,610 |
| 2022 | $2,343 | $5,728 | $75,121 | $73,426 |
| 2023 | $1,503 | $4,806 | $79,960 | $76,667 |
| 2024 | $1,343 | $4,758 | $82,704 | $78,259 |
Spending and national debt comparison
In 2024, East Timor's government spending was $1.7B, accounting for 96.6% of its GDP, while Iceland's spent $15.5B, or 44.5% of GDP.
Debt-to-GDP ratio is 13.9% in East Timor and 52.9% in Iceland, ranking 178/185 and 102/185, respectively.
| Year | % of GDP | |||
|---|---|---|---|---|
|
East Timor
|
Iceland
|
|||
| Government spending | Government debt | Government spending | Government debt | |
| 1960 | - | - | 33.2% | 13.6% |
| 1961 | - | - | 25.3% | 8.49% |
| 1962 | - | - | 24.9% | 7.47% |
| 1963 | - | - | 26.2% | 7.89% |
| 1964 | - | - | 28.2% | 7.97% |
| 1965 | - | - | 28.3% | 7.78% |
| 1966 | - | - | 28.3% | 5.56% |
| 1967 | - | - | 31.6% | 8.8% |
| 1968 | - | - | 33.3% | 14.2% |
| 1969 | - | - | 30.3% | 14.6% |
| 1970 | - | - | 29.9% | 11.4% |
| 1971 | - | - | 32.5% | 11.7% |
| 1972 | - | - | 33.3% | 14.5% |
| 1973 | - | - | 33.7% | 11.5% |
| 1974 | - | - | 36.6% | 12.5% |
| 1975 | - | - | 36.9% | 16.4% |
| 1976 | - | - | 32.1% | 17.2% |
| 1977 | - | - | 31.7% | 18.4% |
| 1978 | - | - | 31.9% | 19.8% |
| 1979 | - | - | 32.4% | 21.1% |
| 1980 | - | - | 33.9% | 24.8% |
| 1981 | - | - | 35.3% | 22.4% |
| 1982 | - | - | 36% | 28.9% |
| 1983 | - | - | 37.8% | 30.8% |
| 1984 | - | - | 34.7% | 32.4% |
| 1985 | - | - | 37% | 32% |
| 1986 | - | - | 39.5% | 29.9% |
| 1987 | - | - | 36.5% | 27.3% |
| 1988 | - | - | 41.4% | 30.6% |
| 1989 | - | - | 42.9% | 35.3% |
| 1990 | - | - | 42.6% | 35.5% |
| 1991 | - | - | 42.8% | 37.6% |
| 1992 | - | - | 44.7% | 45.4% |
| 1993 | - | - | 45.1% | 52.3% |
| 1994 | - | - | 45% | 54.8% |
| 1995 | - | - | 44.4% | 58.1% |
| 1996 | - | - | 43.9% | 55.6% |
| 1997 | - | - | 42.1% | 52% |
| 1998 | - | - | 40.9% | 44% |
| 1999 | - | - | 45.4% | 76.6% |
| 2000 | - | - | 44.8% | 75.8% |
| 2001 | 95.7% | 0% | 47.4% | 83.4% |
| 2002 | 93.5% | 0% | 45.5% | 82.2% |
| 2003 | 80.1% | 0% | 47.8% | 85.1% |
| 2004 | 74.2% | 0% | 46.7% | 80.9% |
| 2005 | 58.3% | 0% | 45% | 68.9% |
| 2006 | 59.8% | 0% | 44.8% | 70.7% |
| 2007 | 75.8% | 0% | 44.7% | 68.4% |
| 2008 | 122.4% | 0% | 63.4% | 110.4% |
| 2009 | 121.8% | 0% | 53.6% | 128.8% |
| 2010 | 121.3% | 0% | 48.8% | 133.1% |
| 2011 | 133.3% | 0% | 50.5% | 138.2% |
| 2012 | 129.3% | 0.002% | 47.7% | 133.9% |
| 2013 | 96.1% | 0.46% | 46% | 122% |
| 2014 | 111% | 1.52% | 45.8% | 115.3% |
| 2015 | 98.1% | 2.95% | 43.5% | 97.3% |
| 2016 | 112.2% | 4.71% | 46.4% | 82.5% |
| 2017 | 87.3% | 6.71% | 44.4% | 71.7% |
| 2018 | 85.5% | 9.31% | 43.8% | 63.2% |
| 2019 | 68.7% | 9.51% | 43.6% | 66.5% |
| 2020 | 61% | 10.1% | 51.1% | 77.5% |
| 2021 | 44.8% | 6.53% | 49.6% | 74.9% |
| 2022 | 60.2% | 7.9% | 46.7% | 67.5% |
| 2023 | 81.4% | 12.4% | 45.3% | 62% |
| 2024 | 90.3% | 13.2% | 46.3% | 59.1% |
| 2025 | 96.6% | 13.9% | 44.5% | 52.9% |
Government deficit by year
In 2024, East Timor's government deficit, the difference between spending and revenue, was -$834M, equivalent to -44.3% of GDP. This compares to Iceland's deficit of -$1.17B, or -3.48% of GDP.
Over the past 24 years, East Timor recorded a fiscal deficit in 22 of those years, while Iceland ran a deficit in 16 years. On average, East Timor posted an annual deficit equal to -21.6% of GDP, compared to deficit of -1.65% of GDP for Iceland.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
East Timor
|
Iceland
|
|
| 1909 | - | -2.15% |
| 1910 | - | -1.27% |
| 1911 | - | -3.06% |
| 1912 | - | -2.93% |
| 1913 | - | -2.3% |
| 1914 | - | -3.21% |
| 1915 | - | -2.06% |
| 1916 | - | -2.53% |
| 1917 | - | -11.3% |
| 1918 | - | -7.43% |
| 1919 | - | -2.5% |
| 1920 | - | -7.45% |
| 1921 | - | -6.12% |
| 1922 | - | -4.67% |
| 1923 | - | -4.99% |
| 1924 | - | -1.78% |
| 1925 | - | 0.43% |
| 1926 | - | -2.43% |
| 1927 | - | -3.45% |
| 1928 | - | -1.94% |
| 1929 | - | -1.94% |
| 1930 | - | -4.94% |
| 1931 | - | -4.27% |
| 1932 | - | -4.65% |
| 1933 | - | -3.42% |
| 1934 | - | -4.79% |
| 1935 | - | -3.46% |
| 1936 | - | -3.34% |
| 1937 | - | -2.6% |
| 1938 | - | -2.01% |
| 1939 | - | -2.6% |
| 1940 | - | -1.35% |
| 1941 | - | -1.33% |
| 1942 | - | -0.75% |
| 1943 | - | -0.89% |
| 1944 | - | -3.23% |
| 1945 | - | -2.33% |
| 1946 | - | -0.37% |
| 1947 | - | -1.95% |
| 1948 | - | 0.67% |
| 1949 | - | -0.3% |
| 1950 | - | 1.23% |
| 1951 | - | 2.73% |
| 1952 | - | 3.33% |
| 1953 | - | 0.34% |
| 1954 | - | 1.25% |
| 1955 | - | 1.57% |
| 1956 | - | -0.09% |
| 1957 | - | 1.2% |
| 1958 | - | 2.16% |
| 1959 | - | 2.44% |
| 1960 | - | 2.38% |
| 1961 | - | 1.64% |
| 1962 | - | 2.25% |
| 1963 | - | 1.8% |
| 1964 | - | -0.41% |
| 1965 | - | 0.15% |
| 1966 | - | 1.69% |
| 1967 | - | 0.78% |
| 1968 | - | -0.89% |
| 1969 | - | -0.88% |
| 1970 | - | 0.27% |
| 1971 | - | -0.69% |
| 1972 | - | 0.05% |
| 1973 | - | -0.74% |
| 1974 | - | -3.64% |
| 1975 | - | -3.87% |
| 1976 | - | 0.02% |
| 1977 | - | -1.2% |
| 1978 | - | -0.9% |
| 1979 | - | -0.07% |
| 1980 | - | 1.37% |
| 1981 | - | 1.32% |
| 1982 | - | 1.72% |
| 1983 | - | -1.96% |
| 1984 | - | 2.25% |
| 1985 | - | -1.56% |
| 1986 | - | -3.93% |
| 1987 | - | -0.79% |
| 1988 | - | -1.93% |
| 1989 | - | -4.29% |
| 1990 | - | -3.16% |
| 1991 | - | -0.66% |
| 1992 | - | -1.86% |
| 1993 | - | -4.36% |
| 1994 | - | -4.59% |
| 1995 | - | -2.87% |
| 1996 | - | -1.52% |
| 1997 | - | 0.04% |
| 1998 | - | -0.57% |
| 1999 | - | 1.32% |
| 2000 | - | 1.45% |
| 2001 | 3.24% | -0.28% |
| 2002 | -7.64% | -2.27% |
| 2003 | -8.24% | -2.32% |
| 2004 | -7.48% | 0.29% |
| 2005 | -10.5% | 5.01% |
| 2006 | 41% | 6.45% |
| 2007 | -29.9% | 5.6% |
| 2008 | -18.6% | -12.1% |
| 2009 | -17.2% | -8.58% |
| 2010 | -19.8% | -6.66% |
| 2011 | -25.4% | -6.53% |
| 2012 | -38.7% | -2.62% |
| 2013 | -14.4% | -1.25% |
| 2014 | -37.5% | 0.3% |
| 2015 | -33.2% | -0.4% |
| 2016 | -55.7% | 12.5% |
| 2017 | -33.8% | 0.98% |
| 2018 | -26.9% | 0.96% |
| 2019 | -25.4% | -1.59% |
| 2020 | -18.9% | -8.9% |
| 2021 | -20.1% | -8.48% |
| 2022 | -31.7% | -3.99% |
| 2023 | -37.3% | -2.29% |
| 2024 | -44.3% | -3.48% |
| 2025 | -51% | -1.64% |
Inflation comparison by year
Over the past 24 years, East Timor has recorded an average annual inflation rate of 4.36%, compared with 4.95% in Iceland. In 2024, inflation was 0.9% in East Timor and 5.86% in Iceland.
| Year | Inflation | ||
|---|---|---|---|
|
East Timor
|
Iceland
|
East Timor
|
Iceland
|
| 1996 | - | 2.26% | |
| 1997 | - | 1.82% | |
| 1998 | - | 1.66% | |
| 1999 | - | 3.23% | |
| 2000 | - | 5.14% | |
| 2001 | 3.6% | 6.41% | |
| 2002 | 4.1% | 5.2% | |
| 2003 | 8% | 2.06% | |
| 2004 | 2.2% | 3.16% | |
| 2005 | 1.6% | 3.99% | |
| 2006 | 5.2% | 6.69% | |
| 2007 | 8.6% | 5.05% | |
| 2008 | 7.4% | 12.7% | |
| 2009 | -0.2% | 12% | |
| 2010 | 5.2% | 5.4% | |
| 2011 | 13.2% | 4% | |
| 2012 | 10.9% | 5.19% | |
| 2013 | 9.5% | 3.87% | |
| 2014 | 0.8% | 2.04% | |
| 2015 | 0.6% | 1.63% | |
| 2016 | -1.5% | 1.7% | |
| 2017 | 0.5% | 1.76% | |
| 2018 | 2.3% | 2.68% | |
| 2019 | 0.9% | 3.01% | |
| 2020 | 0.5% | 2.85% | |
| 2021 | 3.8% | 4.44% | |
| 2022 | 7% | 8.31% | |
| 2023 | 8.4% | 8.74% | |
| 2024 | 2.1% | 5.86% | |
| 2025 | 0.9% | - | |
Top exports between countries
|
East Timor
|
|
|---|---|
| Export category | Export value |
|
Iceland
|
|
|---|---|
| Export category | Export value |
| Machinery & equipment | $1K |
Balance of trade
|
East Timor
|
Iceland
|
|
|---|---|---|
Current account balance
|
-$565M
2024 |
-$867M
2024 |
| Current account balance ranking |
103/189
2024 |
120/189
2024 |
| Current account balance, % of GDP |
-30%
2024 |
-2.59%
2024 |
| Goods imports |
$839M
2024 |
$9.3B
2024 |
| Goods exports |
$196M
2024 |
$6.99B
2024 |
| Service imports |
$405M
2024 |
$5.16B
2024 |
| Service exports |
$82.1M
2024 |
$7.12B
2024 |
| Imports of goods and services, % of GDP |
66.4%
2023 |
42.7%
2024 |
| Exports of goods and services, % of GDP |
22.9%
2023 |
41.6%
2024 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
East Timor
|
Iceland
|
|
|---|---|---|
| Economic freedom | 47.9 | 72.8 |
| Economic freedom ranking | 174/197 | 26/197 |
| Property rights | 41.5 | 97 |
| Government integrity | 44.1 | 81.5 |
| Judicial effectiveness | 36.2 | 95.6 |
| Tax burden | 97.3 | 72.6 |
| Government spending | 0 | 33.2 |
| Fiscal health | 19.8 | 55.2 |
| Business freedom | 65.6 | 86.3 |
| Labor freedom | 57.2 | 60.1 |
| Monetary freedom | 67.5 | 71.8 |
| Trade freedom | 80 | 80.4 |
| Investment freedom | 45 | 70 |
| Financial freedom | 20 | 70 |
Economic freedom by year comparison
The Economic Freedom Index for East Timor is 47.9, ranking 174/197, compared to 72.8 for Iceland, ranking 26/197. The chart below displays a comparison of annual changes in economic freedom indexes.
| Year | Economic freedom index | |
|---|---|---|
|
East Timor
|
Iceland
|
|
| 1997 | - | 70.5 |
| 1998 | - | 71.2 |
| 1999 | - | 71.4 |
| 2000 | - | 74 |
| 2001 | - | 73.4 |
| 2002 | - | 73.1 |
| 2003 | - | 73.5 |
| 2004 | - | 72.1 |
| 2005 | - | 76.6 |
| 2006 | - | 75.8 |
| 2007 | - | 76 |
| 2008 | - | 75.8 |
| 2009 | 50.5 | 75.9 |
| 2010 | 45.8 | 73.7 |
| 2011 | 42.8 | 68.2 |
| 2012 | 43.3 | 70.9 |
| 2013 | 43.7 | 72.1 |
| 2014 | 43.2 | 72.4 |
| 2015 | 45.5 | 72 |
| 2016 | 45.8 | 73.3 |
| 2017 | 46.3 | 74.4 |
| 2018 | 48.1 | 77 |
| 2019 | 44.2 | 77.1 |
| 2020 | 45.9 | 77.1 |
| 2021 | 44.7 | 77.4 |
| 2022 | 46.3 | 77 |
| 2023 | 47.2 | 72.2 |
| 2024 | 50.2 | 70.5 |
| 2025 | 47.9 | 72.8 |
More economic indicators
|
East Timor
|
Iceland
|
|
|---|---|---|
| Services, % of GDP |
61%
2023 |
65.5%
2024 |
| Industry, % of GDP |
23.9%
2023 |
19.4%
2024 |
| Agriculture, forestry, and fishing, % of GDP |
16.9%
2023 |
4.05%
2024 |
|
GNI, Atlas method
|
$2.18B
2024 |
$31.8B
2024 |
| GNI per capita, PPP |
$4,880
2024 |
$78,080
2024 |
| Total reserves including gold |
$780M
2024 |
$6.4B
2024 |
| Total reserves ranking |
145/177
2024 |
90/177
2024 |
|
Net foreign direct investment
|
-$228M
2024 |
-$2.24B
2024 |
|
Net inflows of foreign direct investment
|
$232M
2024 |
$2.7B
2024 |
|
Net outflows of foreign direct investment
|
$4.5M
2024 |
$461M
2024 |
|
Servicing debt to the IMF, % of GNI
|
1.03%
2023 |
n/a |
| Poverty at national poverty lines |
41.8%
2014 |
8.8%
2017 |
|
Gross capital formation, % of GDP
|
20.5%
2023 |
26.6%
2024 |
GDP per capita map
GDP per capita
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Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.