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Economy of East Timor vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

East Timor has a GDP of $1.88B compared to $99B for Sri Lanka, ranking 180/197 and 71/197 by economy size, respectively.

East Timor has $249M in government debt (13.9% of GDP), compared to $98.4B (105.6% of GDP) in Sri Lanka.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

East Timor
GDP, current $

GDP, constant 2015 $
Sri Lanka
GDP, current $

GDP, constant 2015 $
Year GDP
East Timor Sri Lanka
Current $ Constant $ Current $ Constant $
1960 - - $1,409,873,950 -
1961 - - $1,444,327,731 $6,526,664,116
1962 - - $1,434,156,379 $6,775,853,428
1963 - - $1,240,672,269 $6,946,384,624
1964 - - $1,309,747,899 $7,217,740,543
1965 - - $1,698,319,328 $7,400,851,267
1966 - - $1,751,470,588 $7,772,654,452
1967 - - $1,859,465,021 $8,273,137,570
1968 - - $1,801,344,538 $8,753,070,071
1969 - - $1,965,546,218 $9,428,528,703
1970 - - $2,296,470,588 $9,791,209,303
1971 - - $2,369,308,600 $9,919,171,146
1972 - - $2,553,936,348 $9,878,454,941
1973 - - $2,875,625,000 $10,575,616,915
1974 - - $3,574,586,466 $10,982,337,251
1975 - - $3,791,298,146 $11,655,140,838
1976 - - $3,591,319,857 $12,043,852,220
1977 - - $4,104,509,583 $12,658,159,773
1978 - - $2,733,183,857 $13,373,831,476
1979 - - $3,364,611,432 $14,230,232,388
1980 - - $4,024,621,900 $15,062,135,547
1981 - - $4,415,844,156 $15,920,605,692
1982 - - $4,768,765,017 $16,579,956,893
1983 - - $5,167,913,302 $17,378,114,521
1984 - - $6,043,474,843 $18,264,250,049
1985 - - $5,978,460,972 $19,177,354,129
1986 - - $6,405,210,564 $20,012,632,786
1987 - - $6,682,167,120 $20,357,972,917
1988 - - $6,978,371,581 $20,861,361,467
1989 - - $6,987,267,684 $21,341,027,046
1990 $128,210,142 $481,437,141 $8,032,551,173 $22,706,851,776
1991 $147,713,000 $533,019,666 $9,000,362,582 $23,751,364,061
1992 $187,891,500 $588,770,963 $9,703,011,636 $24,796,422,002
1993 $216,914,400 $648,853,659 $10,338,679,636 $26,507,390,805
1994 $239,040,500 $695,070,456 $11,717,604,209 $27,991,783,146
1995 $262,819,900 $741,509,953 $13,029,697,561 $29,531,355,077
1996 $306,956,900 $800,698,650 $13,897,738,375 $30,653,536,886
1997 $319,972,700 $832,726,548 $15,091,913,884 $32,617,018,444
1998 $325,729,800 $816,072,049 $15,794,972,847 $34,149,503,956
1999 $225,357,600 $526,754,667 $15,656,327,860 $35,618,117,204
2000 $366,924,300 $832,683,748 $16,330,814,180 $37,755,216,046
2001 $477,443,500 $968,839,039 $15,749,753,805 $37,171,743,867
2002 $469,455,500 $903,891,443 $16,536,535,647 $38,645,482,957
2003 $490,439,100 $884,166,144 $18,881,765,437 $40,941,128,632
2004 $440,772,000 $887,702,844 $20,662,525,941 $43,170,398,174
2005 $462,268,000 $914,197,043 $24,405,791,045 $45,864,985,657
2006 $453,792,400 $876,567,845 $28,279,802,406 $49,382,046,638
2007 $542,795,400 $966,550,939 $32,350,238,760 $52,738,458,482
2008 $648,523,600 $1,076,687,532 $40,713,826,215 $55,876,443,248
2009 $726,937,800 $1,185,938,525 $42,066,224,093 $57,853,861,433
2010 $881,909,300 $1,296,604,518 $58,636,161,082 $62,491,408,088
2011 $1,042,534,600 $1,373,863,214 $67,753,284,044 $67,909,090,095
2012 $1,160,555,000 $1,440,641,509 $70,447,216,891 $73,771,125,926
2013 $1,395,727,400 $1,485,364,307 $77,000,578,167 $76,760,144,813
2014 $1,447,535,200 $1,551,797,202 $82,528,535,714 $81,655,890,647
2015 $1,590,282,400 $1,590,282,400 $85,090,301,052 $85,090,301,052
2016 $1,640,464,600 $1,638,148,797 $88,000,211,172 $89,390,445,685
2017 $1,584,878,400 $1,586,016,100 $94,369,350,286 $95,165,677,467
2018 $1,555,988,614 $1,586,017,920 $94,450,015,983 $97,364,084,799
2019 $2,032,550,389 $1,957,336,651 $88,998,706,297 $97,149,412,680
2020 $2,162,619,241 $2,582,938,998 $84,335,574,582 $92,656,723,482
2021 $3,624,889,673 $2,720,236,116 $88,556,698,938 $96,555,233,344
2022 $3,208,593,982 $2,161,456,509 $74,143,020,263 $89,459,202,881
2023 $2,079,916,909 $1,769,697,035 $83,716,142,582 $87,374,939,262
2024 $1,881,265,333 $1,730,956,216 $98,963,185,510 $91,751,304,717

Economic indicators

East Timor Sri Lanka
Gross domestic product
$1.88B
2024
$99B
2024
GDP rank
180/197
2024
71/197
2024
GDP growth
-9.55%
2023-2024
18.2%
2023-2024
GDP per capita
$1,343
2024
$4,516
2024
GDP per capita rank
166/197
2024
125/197
2024
GDP per capita, PPP
$4,758
2024
$15,633
2024
Government debt
$249M
2024
$98.4B
2024
Debt-to-GDP ratio
13.9%
2025
105.6%
2025
Government debt per person
$177.7
2024
$4,490
2024
Government debt per person rank
182/185
2024
86/185
2024
Average annual personal income after taxes
$1,668
2025
$2,982
2025
Market capitalization of domestic companies n/a
$19.5B
2024
Income share by richest 10%
24%
2014
30.8%
2019
Income share by poorest 10%
4%
2014
3.1%
2019
Government expenditure, % of GDP
96.6%
2025
20.2%
2025
Consumer prices inflation
0.9%
2024-2025
-0.43%
2023-2024
Central bank interest rate n/a
7.75%
2025
Unemployment rate
1.54%
2022
4.53%
2022
Population
1433311
22125995

GDP per capita in East Timor vs Sri Lanka

East Timor's GDP per capita is $1,343, ranking 166/197, compared to $4,516 in Sri Lanka, ranking 125/197. Adjusted for purchasing power (GDP per capita PPP), East Timor ranks 159th at $4,758, while Sri Lanka ranks 112th at $15,633.

East Timor
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
Year Current $
East Timor Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $145.9 -
1961 - - $145.9 -
1962 - - $141.4 -
1963 - - $119.4 -
1964 - - $122.9 -
1965 - - $155.6 -
1966 - - $156.6 -
1967 - - $162.3 -
1968 - - $153.5 -
1969 - - $163.6 -
1970 - - $186.9 -
1971 - - $188.8 -
1972 - - $199.4 -
1973 - - $220.2 -
1974 - - $268.7 -
1975 - - $279.8 -
1976 - - $260.3 -
1977 - - $292.1 -
1978 - - $191 -
1979 - - $230.8 -
1980 - - $271.1 -
1981 - - $292.5 -
1982 - - $312 -
1983 - - $336 -
1984 - - $391 -
1985 - - $385 -
1986 - - $407 -
1987 - - $420 -
1988 - - $434 -
1989 - - $430 -
1990 $168.6 $685 $491 $2,527
1991 $189.8 $766 $546 $2,713
1992 $235.1 $843 $580 $2,851
1993 $264.1 $925 $607 $3,067
1994 $283.1 $985 $678 $3,260
1995 $303 $1,043 $742 $3,454
1996 $344 $1,116 $776 $3,582
1997 $349 $1,149 $827 $3,804
1998 $346 $1,108 $849 $3,952
1999 $270 $819 $826 $4,103
2000 $492 $1,483 $846 $4,368
2001 $588 $1,619 $804 $4,328
2002 $534 $1,417 $835 $4,522
2003 $535 $1,355 $946 $4,850
2004 $474 $1,379 $1,029 $5,216
2005 $487 $1,435 $1,207 $5,679
2006 $465 $1,377 $1,390 $6,261
2007 $540 $1,516 $1,579 $6,820
2008 $628 $1,675 $1,974 $7,317
2009 $687 $1,810 $2,027 $7,576
2010 $813 $1,955 $2,808 $8,234
2011 $939 $2,066 $3,225 $9,076
2012 $1,023 $2,386 $3,328 $10,249
2013 $1,205 $2,566 $3,741 $11,253
2014 $1,225 $2,860 $3,972 $11,721
2015 $1,320 $3,108 $4,058 $12,227
2016 $1,336 $3,391 $4,149 $13,079
2017 $1,266 $3,463 $4,399 $13,610
2018 $1,219 $3,561 $4,359 $14,178
2019 $1,562 $4,557 $4,082 $14,113
2020 $1,631 $6,132 $3,848 $12,941
2021 $2,685 $6,825 $3,997 $14,316
2022 $2,343 $5,728 $3,343 $14,194
2023 $1,503 $4,806 $3,799 $14,456
2024 $1,343 $4,758 $4,516 $15,633

Spending and national debt comparison

In 2024, East Timor's government spending was $1.7B, accounting for 96.6% of its GDP, while Sri Lanka's spent $19.1B, or 20.2% of GDP.

Debt-to-GDP ratio is 13.9% in East Timor and 105.6% in Sri Lanka, ranking 178/185 and 18/185, respectively.

East Timor
Government spending

Government debt
Sri Lanka
Government spending

Government debt
Year % of GDP
East Timor Sri Lanka
Government spending Government debt Government spending Government debt
1990 - - 25.4% 78.9%
1991 - - 26.4% 80.5%
1992 - - 23% 77.9%
1993 - - 23.2% 79.2%
1994 - - 24.1% 77.9%
1995 - - 24.8% 77.8%
1996 - - 23.1% 76.2%
1997 - - 21.4% 70.1%
1998 - - 21.4% 74.2%
1999 - - 20.5% 77.7%
2000 - - 21.7% 79.2%
2001 95.7% 0% 22.4% 84.4%
2002 93.5% 0% 20.8% 96.3%
2003 80.1% 0% 19.3% 86.5%
2004 74.2% 0% 19.3% 86.5%
2005 58.3% 0% 20.1% 76.6%
2006 59.8% 0% 20.5% 74.3%
2007 75.8% 0% 19.9% 71.8%
2008 122.4% 0% 19.1% 68.8%
2009 121.8% 0% 21% 72.8%
2010 121.3% 0% 19.3% 68.7%
2011 133.3% 0% 19.1% 69.4%
2012 129.3% 0.002% 17.3% 67.5%
2013 96.1% 0.46% 16.6% 69.5%
2014 111% 1.52% 17.2% 69.6%
2015 98.1% 2.95% 19.3% 76.3%
2016 112.2% 4.71% 18.2% 75%
2017 87.3% 6.71% 17.9% 72.3%
2018 85.5% 9.31% 17.5% 83.6%
2019 68.7% 9.51% 19.5% 82.6%
2020 61% 10.1% 22.1% 96.9%
2021 44.8% 6.53% 20% 102.7%
2022 60.2% 7.9% 18.6% 115.9%
2023 81.4% 12.4% 19.5% 110.4%
2024 90.3% 13.2% 19.3% 99.4%
2025 96.6% 13.9% 20.2% 105.6%

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 Sri Lanka's deficit of -$5.58B, or -5.64% of GDP.

Over the past 24 years, East Timor recorded a fiscal deficit in 22 of those years, while Sri Lanka ran a deficit in 24 years. On average, East Timor posted an annual deficit equal to -21.6% of GDP, compared to deficit of -6.97% of GDP for Sri Lanka.

Deficit/surplus
East Timor

Sri Lanka
Year Deficit/surplus, % of GDP
East Timor Sri Lanka
1990 - -6.39%
1991 - -7.97%
1992 - -4.95%
1993 - -5.77%
1994 - -7.41%
1995 - -7.11%
1996 - -6.89%
1997 - -5.71%
1998 - -6.79%
1999 - -5.58%
2000 - -7.78%
2001 3.24% -8.48%
2002 -7.64% -6.9%
2003 -8.24% -6.15%
2004 -7.48% -6.32%
2005 -10.5% -5.93%
2006 41% -5.91%
2007 -29.9% -5.81%
2008 -18.6% -5.93%
2009 -17.2% -8.33%
2010 -19.8% -6.73%
2011 -25.4% -6.01%
2012 -38.7% -5.44%
2013 -14.4% -5%
2014 -37.5% -5.99%
2015 -33.2% -6.64%
2016 -55.7% -5%
2017 -33.8% -5.1%
2018 -26.9% -4.96%
2019 -25.4% -7.52%
2020 -18.9% -13.4%
2021 -20.1% -11.7%
2022 -31.7% -10.2%
2023 -37.3% -8.32%
2024 -44.3% -5.64%
2025 -51% -5.49%

Inflation comparison by year

Over the past 24 years, East Timor has recorded an average annual inflation rate of 4.36%, compared with 9.66% in Sri Lanka. In 2024, inflation was 0.9% in East Timor and -0.43% in Sri Lanka.

Inflation
East Timor

Sri Lanka
Year Inflation
East Timor Sri Lanka East Timor Sri Lanka
1996 - 15.9%
1997 - 9.57%
1998 - 9.36%
1999 - 4.69%
2000 - 6.18%
2001 3.6% 14.2%
2002 4.1% 9.55%
2003 8% 6.31%
2004 2.2% 7.58%
2005 1.6% 11.6%
2006 5.2% 10%
2007 8.6% 15.8%
2008 7.4% 22.6%
2009 -0.2% 3.46%
2010 5.2% 6.22%
2011 13.2% 6.72%
2012 10.9% 7.54%
2013 9.5% 6.91%
2014 0.8% 3.18%
2015 0.6% 3.77%
2016 -1.5% 3.96%
2017 0.5% 7.7%
2018 2.3% 2.14%
2019 0.9% 3.53%
2020 0.5% 6.15%
2021 3.8% 7.01%
2022 7% 49.7%
2023 8.4% 16.5%
2024 2.1% -0.43%
2025 0.9% -

Top exports between countries

East Timor
Export category Export value
Machinery & equipment $1.45M
Metals $22K
Textiles & consumer goods $17K
Miscellaneous $6K
Raw materials & minerals $3K
Chemicals & pharma $2K
Sri Lanka
Export category Export value
Machinery & equipment $199K
Chemicals & pharma $171K
Textiles & consumer goods $29K
Metals $5K
Processed food, beverages & tobacco $1K
Raw agricultural goods $1K
Raw materials & minerals $1K

Balance of trade

East Timor Sri Lanka
Current account balance
-$565M
2024
$1.56B
2023
Current account balance ranking
103/189
2024
50/189
2023
Current account balance, % of GDP
-30%
2024
+1.86%
2023
Goods imports
$839M
2024
$16.8B
2023
Goods exports
$196M
2024
$11.9B
2023
Service imports
$405M
2024
$2.01B
2023
Service exports
$82.1M
2024
$5.42B
2023
Imports of goods and services, % of GDP
66.4%
2023
22.5%
2024
Exports of goods and services, % of GDP
22.9%
2023
19.9%
2024

Economic freedom indices

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

East Timor Sri Lanka
Economic freedom 47.9 49.4
Economic freedom ranking 174/197 164/197
Property rights 41.5 51.3
Government integrity 44.1 37.4
Judicial effectiveness 36.2 47.4
Tax burden 97.3 77.5
Government spending 0 88.8
Fiscal health 19.8 0
Business freedom 65.6 55.8
Labor freedom 57.2 54.6
Monetary freedom 67.5 54.5
Trade freedom 80 65
Investment freedom 45 30
Financial freedom 20 30

Economic freedom by year comparison

The Economic Freedom Index for East Timor is 47.9, ranking 174/197, compared to 49.4 for Sri Lanka, ranking 164/197. The chart below displays a comparison of annual changes in economic freedom indexes.

East Timor
Sri Lanka
Year Economic freedom index
East Timor Sri Lanka
1995 - 60.6
1996 - 62.5
1997 - 65.5
1998 - 64.6
1999 - 64
2000 - 63.2
2001 - 66
2002 - 64
2003 - 62.5
2004 - 61.6
2005 - 61
2006 - 58.7
2007 - 59.4
2008 - 58.4
2009 50.5 56
2010 45.8 54.6
2011 42.8 57.1
2012 43.3 58.3
2013 43.7 60.7
2014 43.2 60
2015 45.5 58.6
2016 45.8 59.9
2017 46.3 57.4
2018 48.1 57.8
2019 44.2 56.4
2020 45.9 57.4
2021 44.7 55.7
2022 46.3 53.3
2023 47.2 52.2
2024 50.2 49.2
2025 47.9 49.4

More economic indicators

East Timor Sri Lanka
Services, % of GDP
61%
2023
57.5%
2024
Industry, % of GDP
23.9%
2023
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
16.9%
2023
8.3%
2024
GNI, Atlas method
$2.18B
2024
$84.6B
2024
GNI per capita, PPP
$4,880
2024
$15,240
2024
Total reserves including gold
$780M
2024
$6.09B
2024
Total reserves ranking
145/177
2024
92/177
2024
Net foreign direct investment
-$228M
2024
-$678M
2023
Net inflows of foreign direct investment
$232M
2024
$761M
2024
Net outflows of foreign direct investment
$4.5M
2024
$110M
2024
Servicing debt to the IMF, % of GNI
1.03%
2023
3.48%
2023
Poverty at national poverty lines
41.8%
2014
14.3%
2019
Gross capital formation, % of GDP
20.5%
2023
27%
2024

GDP per capita map

GDP per capita

Compare countries by 7 more topics

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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.