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Economy of East Timor vs Singapore compared: GDP & Debt

Updated on by Georank team

East Timor has a GDP of $1.87B compared to $547B for Singapore, ranking 181/197 and 28/197 by economy size, respectively.

East Timor has $249M in government debt (13.3% of GDP), compared to $950B (173.5% of GDP) in Singapore.

East Timor vs Singapore GDP by year

East Timor
Singapore
1x
Year GDP, current $
East Timor Singapore
2024 $1,865,608,515 $547,386,645,892
2023 $2,079,767,170 $505,439,514,078
2022 $3,208,599,889 $509,017,841,147
2021 $3,625,024,341 $436,591,382,250
2020 $2,162,619,241 $349,165,858,545
2019 $2,032,550,389 $376,161,998,830
2018 $1,555,988,614 $377,123,710,561
2017 $1,584,878,440 $343,673,334,902
2016 $1,640,464,612 $319,646,468,521
2015 $1,590,282,371 $307,998,545,269
2014 $1,447,535,183 $314,863,580,758
2013 $1,395,727,421 $307,576,360,585
2012 $1,160,555,040 $295,092,888,077
2011 $1,042,534,598 $279,356,499,090
2010 $881,909,347 $239,807,980,591
2009 $726,937,836 $194,150,283,772
2008 $648,523,571 $193,617,323,539
2007 $542,795,447 $180,941,701,358
2006 $453,792,415 $148,627,286,361
2005 $462,267,954 $127,807,848,728
2004 $440,771,962 $115,033,593,101
2003 $490,439,116 $97,646,401,096
2002 $469,455,491 $92,538,372,870
2001 $477,359,253 $89,793,790,670
2000 $366,924,277 $96,076,539,926
1999 $225,357,600 $86,286,849,755
1998 $325,729,800 $85,728,207,782
1997 $319,972,700 $100,123,787,215
1996 $306,956,900 $96,293,086,513
1995 $262,819,900 $87,812,540,788
1994 $239,040,500 $73,688,724,431
1993 $216,914,400 $60,603,815,716
1992 $187,891,500 $52,131,320,033
1991 $147,713,000 $45,466,164,978
1990 $128,210,142 $36,144,336,769
1989 - $30,465,364,739
1988 - $25,371,462,488
1987 - $20,919,215,578
1986 - $18,586,746,057
1985 - $19,156,532,746
1984 - $19,749,361,098
1983 - $17,784,112,150
1982 - $16,084,252,378
1981 - $14,175,228,844
1980 - $11,896,256,783
1979 - $9,296,921,724
1978 - $7,517,176,355
1977 - $6,618,585,074
1976 - $6,327,077,974
1975 - $5,633,673,930
1974 - $5,221,534,956
1973 - $3,696,213,333
1972 - $2,721,440,981
1971 - $2,263,785,444
1970 - $1,920,574,150
1969 - $1,659,893,768
1968 - $1,425,706,091
1967 - $1,238,035,816
1966 - $1,096,425,608
1965 - $974,644,096
1964 - $894,153,311
1963 - $917,608,012
1962 - $826,239,212
1961 - $764,629,788
1960 - $704,751,700

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/east-timor/singapore | CC BY

GDP per capita in East Timor vs Singapore by year

East Timor
GDP per capita

GDP per capita, PPP
Singapore
GDP per capita

GDP per capita, PPP
1x
Year Current $
East Timor Singapore
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,332 $4,423 $90,674 $150,689
2023 $1,502 $4,807 $85,412 $143,786
2022 $2,343 $5,730 $90,299 $143,095
2021 $2,685 $6,825 $80,056 $132,617
2020 $1,631 $6,132 $61,410 $101,518
2019 $1,562 $4,557 $65,952 $105,335
2018 $1,219 $3,561 $66,882 $103,963
2017 $1,266 $3,463 $61,236 $95,744
2016 $1,336 $3,391 $57,006 $89,902
2015 $1,320 $3,108 $55,646 $87,156
2014 $1,225 $2,860 $57,565 $84,555
2013 $1,205 $2,566 $56,967 $83,088
2012 $1,023 $2,386 $55,548 $82,108
2011 $939 $2,066 $53,891 $80,052
2010 $813 $1,955 $47,237 $75,401
2009 $687 $1,810 $38,927 $66,213
2008 $628 $1,675 $40,009 $67,735
2007 $540 $1,516 $39,433 $68,805
2006 $465 $1,377 $33,768 $64,061
2005 $487 $1,435 $29,961 $58,822
2004 $474 $1,379 $27,608 $54,384
2003 $535 $1,355 $23,730 $48,778
2002 $534 $1,417 $22,160 $45,083
2001 $588 $1,619 $21,700 $43,109
2000 $492 $1,483 $23,853 $43,781
1999 $270 $819 $21,797 $39,949
1998 $346 $1,108 $21,829 $37,560
1997 $349 $1,149 $26,376 $39,286
1996 $344 $1,116 $26,233 $36,873
1995 $303 $1,043 $24,915 $35,090
1994 $283.1 $985 $21,552 $33,058
1993 $264.1 $925 $18,290 $30,062
1992 $235.1 $843 $16,136 $27,022
1991 $189.8 $766 $14,502 $25,530
1990 $168.6 $685 $11,862 $23,815
1989 - - $10,395 -
1988 - - $8,914 -
1987 - - $7,539 -
1986 - - $6,800 -
1985 - - $7,002 -
1984 - - $7,228 -
1983 - - $6,633 -
1982 - - $6,078 -
1981 - - $5,597 -
1980 - - $4,928 -
1979 - - $3,901 -
1978 - - $3,194 -
1977 - - $2,846 -
1976 - - $2,759 -
1975 - - $2,490 -
1974 - - $2,342 -
1973 - - $1,685 -
1972 - - $1,264 -
1971 - - $1,071 -
1970 - - $926 -
1969 - - $813 -
1968 - - $709 -
1967 - - $626 -
1966 - - $567 -
1965 - - $517 -
1964 - - $486 -
1963 - - $511 -
1962 - - $472 -
1961 - - $449 -
1960 - - $428 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/east-timor/singapore | CC BY

East Timor's GDP per capita is $1,332, ranking 167/197, compared to $90,674 in Singapore, ranking 7/197. Adjusted for purchasing power (GDP per capita PPP), East Timor ranks 163rd at $4,423, while Singapore ranks 2nd at $150,689.

Economic indicators

East Timor Singapore
Gross domestic product
$1.87B
2024
$547B
2024
GDP rank
181/197
2024
28/197
2024
GDP growth
-9.1%
2023-2024
4.39%
2023-2024
GDP per capita
$1,332
2024
$90,674
2024
GDP per capita rank
167/197
2024
7/197
2024
GDP per capita, PPP
$4,423
2024
$150,689
2024
GDP per capita PPP rank
163/197
2024
2/197
2024
Government debt
$249M
2024
$950B
2024
Debt-to-GDP ratio
13.3%
2024
173.5%
2024
Government debt per person
$177.5
2024
$157,326
2024
Government debt per person rank
182/185
2024
1/185
2024
Average annual personal income after taxes
$1,440
2026
$52,793
2026
Market capitalization of domestic companies n/a
$638B
2024
Number of millionaires n/a
331,000
2025
Number of billionaires n/a
49
2025
Income share by richest 10%
24%
2014
n/a
Income share by poorest 10%
4%
2014
n/a
Government expenditure, % of GDP
90.8%
2024
14.6%
2024
Consumer prices inflation
2.1%
2023-2024
2.39%
2023-2024
Unemployment rate
1.54%
2022
2.74%
2024
Population
1441764
6125852

Spending and national debt comparison by year

East Timor
Spending

Debt
Singapore
Spending

Debt
1x
Year % of GDP
East Timor Singapore
Government spending Government debt Government spending Government debt
2024 90.8% 13.3% 14.6% 173.5%
2023 78.6% 12.4% 14.8% 172.8%
2022 59.9% 7.9% 15% 154.3%
2021 45.7% 6.53% 15.6% 141.7%
2020 61.7% 10.1% 24.1% 148.2%
2019 68.8% 9.51% 14% 127.9%
2018 85.5% 9.31% 13.9% 109.4%
2017 87.3% 6.71% 13.6% 107.6%
2016 112.2% 4.71% 15.3% 106.3%
2015 98.1% 2.95% 14.4% 102.2%
2014 111% 1.52% 12.6% 97.7%
2013 96.1% 0.46% 10.9% 98.2%
2012 129.3% 0.002% 9.83% 106.7%
2011 133.3% 0% 9.66% 103.1%
2010 121.3% 0% 10.2% 98.7%
2009 121.8% 0% 15.9% 101.7%
2008 122.4% 0% 14% 97.9%
2007 75.8% 0% 9.01% 87.8%
2006 59.8% 0% 12.3% 86.5%
2005 58.3% 0% 12.4% 92.7%
2004 74.2% 0% 14.1% 95.7%
2003 80.1% 0% 15.6% 99.1%
2002 93.5% 0% 15.9% 96.3%
2001 95.7% 0% 18.2% 94.5%
2000 - - 16.1% 82.3%
1999 - - 15.9% 85.3%
1998 - - 18.1% 84.6%
1997 - - 14.5% 70.8%
1996 - - 18.1% 71.3%
1995 - - 13.8% 69.8%
1994 - - 11.7% 70.7%
1993 - - 14.5% 71.2%
1992 - - 14.5% 79%
1991 - - 15.9% 76.4%
1990 - - 15.1% 73.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/east-timor/singapore | CC BY

In 2024, East Timor's government spending was $1.69B, accounting for 90.8% of its GDP, while Singapore spent $79.7B, or 14.6% of GDP.

Debt-to-GDP ratio is 13.3% in East Timor and 173.5% in Singapore, ranking 178/185 and 4/185, respectively.

Government deficit by year

Deficit/surplus
East Timor

Singapore
1x
Year Deficit/surplus, % of GDP
East Timor Singapore
2024 -43.5% 4.44%
2023 -34.7% 3.47%
2022 -29.5% 1.21%
2021 -20.1% 1.13%
2020 -18.9% -6.73%
2019 -25.4% 3.77%
2018 -26.9% 3.68%
2017 -33.8% 5.24%
2016 -55.7% 3.25%
2015 -33.2% 2.86%
2014 -37.5% 4.6%
2013 -14.4% 5.96%
2012 -38.7% 7.34%
2011 -25.4% 7.96%
2010 -19.8% 5.68%
2009 -17.2% -0.09%
2008 -18.6% 3.59%
2007 -29.9% 7.12%
2006 41% 2.16%
2005 -10.5% 2.56%
2004 -7.48% 2.06%
2003 -8.24% 0.68%
2002 -7.64% 2.23%
2001 3.24% 1.2%
2000 - 4.59%
1999 - 5.2%
1998 - 2.41%
1997 - 5.66%
1996 - 1.98%
1995 - 4.8%
1994 - 7.9%
1993 - 4.36%
1992 - 2.7%
1991 - 0.68%
1990 - 1.97%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/east-timor/singapore | CC BY

In 2024, East Timor's government deficit, the difference between spending and revenue, was $812M, equivalent to 43.5% of GDP. This compares to Singapore's surplus of $24.3B, or 4.44% of GDP.

Over the past 24 years, East Timor recorded a fiscal deficit in 22 of those years, while Singapore ran a deficit in 2 years. On average, East Timor posted an annual deficit equal to 21.4% of GDP, compared to surplus of 3.14% of GDP for Singapore.

Inflation comparison by year

Inflation
East Timor

Singapore
1x
Year Consumer prices inflation
East Timor Singapore
2024 2.1% 2.39%
2023 8.4% 4.83%
2022 7% 6.13%
2021 3.8% 2.32%
2020 0.5% -0.17%
2019 0.9% 0.57%
2018 2.3% 0.44%
2017 0.5% 0.58%
2016 -1.5% -0.53%
2015 0.6% -0.52%
2014 0.8% 1.03%
2013 9.5% 2.36%
2012 10.9% 4.58%
2011 13.2% 5.25%
2010 5.2% 2.83%
2009 -0.2% 0.59%
2008 7.4% 6.64%
2007 8.6% 2.11%
2006 5.2% 0.97%
2005 1.6% 0.43%
2004 2.2% 1.66%
2003 8% 0.51%
2002 4.1% -0.39%
2001 3.6% 1%
2000 - 1.36%
1999 - 0.02%
1998 - -0.27%
1997 - 2%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (2001–2024, retrieved 2026-02-20).

GeoRank.org/economy/east-timor/singapore | CC BY

Over the past 24 years, East Timor has recorded an average annual inflation rate of 4.36%, compared with 1.9% in Singapore. In 2024, inflation was 2.1% in East Timor and 2.39% in Singapore.

Top exports between countries

East Timor
Export category Export value
Raw materials & minerals $30.8M
Processed food, beverages & tobacco $461K
Machinery & equipment $172K
Metals $116K
Raw agricultural goods $18K
Textiles & consumer goods $16K
Wood & paper products $8K
Chemicals & pharma $7K
Miscellaneous $1K
Singapore
Export category Export value
Raw materials & minerals $42.8M
Machinery & equipment $9.67M
Processed food, beverages & tobacco $3.66M
Chemicals & pharma $2.1M
Raw agricultural goods $2.1M
Animal & marine products $1.89M
Textiles & consumer goods $1.71M
Miscellaneous $1.11M
Precious metals & jewellery $598K
Wood & paper products $559K

Balance of trade

East Timor Singapore
Current account balance
-$587M
2024
$96B
2024
Current account balance ranking
108/190
2024
8/190
2024
Current account balance, % of GDP
-31.5%
2024
+17.5%
2024
Goods imports
$839M
2024
$435B
2024
Goods exports
$196M
2024
$583B
2024
Service imports
$432M
2024
$351B
2024
Service exports
$82.1M
2024
$396B
2024
Imports of goods and services, % of GDP
84.9%
2024
143.6%
2024
Exports of goods and services, % of GDP
10.6%
2024
178.8%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

East Timor Singapore
Economic freedom 47.9 84.4
Economic freedom ranking 173/197 1/197
Property rights 43.5 89.2
Government integrity 43.9 86.1
Judicial effectiveness 34.5 58.3
Tax burden 97.1 89.5
Government spending 0 93.4
Fiscal health 19.6 80
Business freedom 62.7 90.6
Labor freedom 56.5 77
Monetary freedom 72.2 83.5
Trade freedom 79.8 95
Investment freedom 45 90
Financial freedom 20 80

Economic freedom comparison by year

East Timor
Singapore
1x
Year Economic freedom index
East Timor Singapore
2026 47.9 84.4
2025 47.9 84.1
2024 50.2 83.5
2023 47.2 83.9
2022 46.3 84.4
2021 44.7 89.7
2020 45.9 89.4
2019 44.2 89.4
2018 48.1 88.8
2017 46.3 88.6
2016 45.8 87.8
2015 45.5 89.4
2014 43.2 89.4
2013 43.7 88
2012 43.3 87.5
2011 42.8 87.2
2010 45.8 86.1
2009 50.5 87.1
2008 - 87.3
2007 - 87.1
2006 - 88
2005 - 88.6
2004 - 88.9
2003 - 88.2
2002 - 87.4
2001 - 87.8
2000 - 87.7
1999 - 86.9
1998 - 87
1997 - 87.3
1996 - 86.5
1995 - 86.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/east-timor/singapore | CC BY

The Economic Freedom Index for East Timor is 47.9, ranking 173/197, compared to 84.4 for Singapore, ranking 1/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

East Timor Singapore
Services, % of GDP
71.6%
2024
73%
2024
Industry, % of GDP
11.8%
2024
21.4%
2024
Agriculture, forestry, and fishing, % of GDP
20.2%
2024
0.03%
2024
GNI, Atlas method
$2.31B
2024
$451B
2024
GNI per capita, PPP
$5,040
2024
$126,190
2024
Total reserves including gold
$737M
2024
$384B
2024
Total reserves ranking
147/177
2024
9/177
2024
Net foreign direct investment
-$211M
2024
-$96.7B
2024
Net inflows of foreign direct investment
$216M
2024
$152B
2024
Net outflows of foreign direct investment
$4.5M
2024
$55.3B
2024
Servicing debt to the IMF, % of GNI
1.23%
2024
n/a
Poverty at national poverty lines
41.8%
2014
n/a
Gross capital formation, % of GDP
30.1%
2024
22.2%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/east-timor/singapore | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.