Editing Economy of Timor-Leste (section)

==Industries==
In the [[Ease of doing business index|Doing Business]] 2013 report by the World Bank, Timor-Leste was ranked 169th overall and last in the East Asia and Pacific region. The country fared particularly poorly in the "registering property", "enforcing contracts", and "resolving insolvency" categories, ranking last worldwide in all three.<ref name=edb>{{cite web|title=Doing Business in Timor-Leste|url=http://www.doingbusiness.org/data/exploreeconomies/timor-leste/|publisher=World Bank|access-date=13 February 2013|archive-date=10 February 2013|archive-url=https://web.archive.org/web/20130210010120/http://www.doingbusiness.org/data/exploreeconomies/timor-leste/|url-status=dead}}</ref> In 2020 it ranked 181st.<ref name="BTI2022"/>{{rp|20}} There are no [[Patent|patent laws]] in Timor-Leste.<ref>{{cite web|url=http://www.billanderson.com.au/Gazetteer-Patents.htm|title=Gazetteer – Patents|publisher=Billanderson.com.au|access-date=28 March 2010|archive-date=26 September 2018|archive-url=https://web.archive.org/web/20180926141115/http://www.billanderson.com.au/Gazetteer-Patents.htm|url-status=live}}</ref>

Regarding telecommunications infrastructure, Timor-Leste is the second to last ranked Asian country in the World Economic Forum's Network Readiness Index (NRI), with only [[Myanmar]] falling behind it in Southeast Asia. In the 2014 NRI ranking, Timor-Leste ranked number 141 overall, down from 134 in 2013.<ref>{{cite web| url=http://www3.weforum.org/docs/GITR/2014/GITR_OverallRanking_2014.pdf| title=NRI Overall Ranking 2014| publisher=World Economic Forum| access-date=28 June 2014| archive-date=25 October 2016| archive-url=https://web.archive.org/web/20161025102647/http://www3.weforum.org/docs/GITR/2014/GITR_OverallRanking_2014.pdf| url-status=live}}</ref>

Timor-Leste is part of the [[Timor Leste–Indonesia–Australia Growth Triangle]] (TIA-GT).<ref>{{cite web|url=http://timor-leste.gov.tl/?p=14966&lang=en|title=Boosting Growth through the Growth Triangle « Government of Timor-Leste|website=timor-leste.gov.tl|access-date=27 May 2022|archive-date=7 March 2021|archive-url=https://web.archive.org/web/20210307225636/http://timor-leste.gov.tl/?p=14966&lang=en|url-status=live}}</ref>

===Agriculture===
The agriculture sector employs 80% of Timor-Leste's active population.<ref name="wb-expanding">{{cite web|title=Expanding Timor – Leste's Near – Term Non – Oil Exports|url=http://siteresources.worldbank.org/INTTIMORLESTE/Resources/Volume1TimorLesteDTIS.pdf|publisher=World Bank|pages=iii|date=August 2010|access-date=27 May 2022|archive-date=3 March 2016|archive-url=https://web.archive.org/web/20160303192828/http://siteresources.worldbank.org/INTTIMORLESTE/Resources/Volume1TimorLesteDTIS.pdf|url-status=live}}</ref> In 2009, about 67,000 households grew coffee in Timor-Leste, with a large proportion of those households being poor.<ref name="wb-expanding"/> Currently, the [[gross margin]]s are about $120 per hectare, with returns per labour-day of about $3.70.<ref name="wb-expanding"/> There were 11,000 households growing [[mung beans]] as of 2009, most of them by subsistence farming.<ref name="wb-expanding"/> 94% of domestic fish catch comes from the ocean, especially coastal fisheries.<ref name="ADBWBG2021">{{cite web |url=https://reliefweb.int/report/timor-leste/climate-risk-country-profile-timor-leste |title=Climate Risk Country Profile - Timor-Leste |publisher=Asian Development Bank, World Bank Group |date=18 November 2021 |access-date=23 May 2022 |archive-date=23 May 2022 |archive-url=https://web.archive.org/web/20220523151357/https://reliefweb.int/report/timor-leste/climate-risk-country-profile-timor-leste |url-status=live }}</ref>{{rp|17}} 66% of families are in part supported by these subsistence activities, however the country as a whole does not produce enough food to be self-sustaining, and thus relies on imports.<ref name="ADBWBG2021"/>{{rp|16}} [[Coffee]], [[rice]], [[maize]], [[coconut]]s, [[cassava]], [[soybean]]s, [[banana]]s, [[mango]], and [[sweet potato]]es are cultivated here.  With 5,014 Metric Tons in 2019, the country was ranked number 42 among other countries in Avocados Production.<ref>{{cite web | url=https://www.nationmaster.com/nmx/timeseries/east-timor-avocados-production | title=Avocados Production in East Timor }}</ref>

After [[petroleum]], the second largest export is [[coffee]], which generates about $10&nbsp;million a year.<ref name="us-dos">{{cite web|title=U.S. Relations With Timor-Leste|url=https://2009-2017.state.gov/r/pa/ei/bgn/35878.htm|publisher=U.S. Department of State|date=3 July 2012|access-date=31 May 2022|archive-date=4 June 2019|archive-url=https://web.archive.org/web/20190604192912/https://2009-2017.state.gov/r/pa/ei/bgn/35878.htm|url-status=live}}</ref> 9,000 tonnes of coffee, 108 tonnes of [[cinnamon]], and 161 tonnes of cocoa were harvested in 2012 making the country the 40th ranked producer of coffee, the 6th ranked producer of cinnamon and the 50th ranked producer of cocoa worldwide.<ref>{{cite web|url=http://faostat3.fao.org/browse/rankings/countries_by_commodity/E|title=FAOSTAT|website=faostat3.fao.org|access-date=31 May 2022|archive-date=28 July 2016|archive-url=https://web.archive.org/web/20160728060615/http://faostat3.fao.org/browse/rankings/countries_by_commodity/E|url-status=live}}</ref> In 2019, 186 Metric Tons of cocoa beans were produced and the country was number 48.<ref>{{cite web | url=https://www.nationmaster.com/nmx/timeseries/east-timor-cocoa-beans-production | title=Cocoa Beans Production in East Timor }}</ref>

===Energy===
{{Main|Energy in Timor-Leste}}

====Oil and gas====
The Portuguese colonial administration granted concessions to the Australia-bound Oceanic Exploration Corporation to develop petroleum and natural gas deposits in the waters southeast of Timor. However, this was curtailed by the Indonesian invasion in 1976.{{citation needed|date=November 2012}} The resources were divided between Indonesia and Australia with the [[Timor Gap Treaty]] in 1989.<ref>{{cite web|url=http://atns.net.au/biogs/A002026b.htm|archive-url=https://web.archive.org/web/20050616125127/http://atns.net.au/biogs/A002026b.htm|archive-date=16 June 2005|title=TIMOR GAP TREATY between Australia and the Republic of Indonesia ...|publisher=Agreements, Treaties and Negotiated Settlements Project|access-date=11 February 2013}}</ref> Timor-Leste inherited no permanent maritime boundaries when it attained independence.{{citation needed|date=November 2012}} A provisional agreement (the [[Timor Sea Treaty]], signed when Timor-Leste became independent on 20 May 2002) defined a Joint Petroleum Development Area (JPDA) and awarded 90% of revenues from existing projects in that area to Timor-Leste and 10% to Australia.<ref>{{cite web|url=http://www.aph.gov.au/library/pubs/RN/2001-02/02rn45.htm|archive-url=https://web.archive.org/web/20110604224608/http://www.aph.gov.au/library/pubs/RN/2001-02/02rn45.htm|archive-date=4 June 2011|title=The Timor Sea Treaty: Are the Issues Resolved?|publisher=Aph.gov.au|access-date=17 July 2011}}</ref> An agreement in 2005 between the governments of Timor-Leste and Australia mandated that both countries put aside their dispute over maritime boundaries and that Timor-Leste would receive 50% of the revenues from the resource exploitation in the area (estimated at [[Australian Dollar|A$]]26 billion, or about US$20 billion over the lifetime of the project)<ref>{{cite web|author=Geoff A. McKee|url=http://www.canb.auug.org.au/~wildwood/05mar26mckee.html|title=McKee: How much is Sunrise really worth?: True Value of a Timor Sea Gas Resource (26 Mar 05)|publisher=Canb.auug.org.au|access-date=17 July 2011|archive-date=23 August 2006|archive-url=https://web.archive.org/web/20060823032214/http://www.canb.auug.org.au/%7Ewildwood/05mar26mckee.html|url-status=live}}</ref> from the Greater Sunrise development.<ref>{{cite web|url=http://www.pm.gov.tp/bill.htm|title=Prime Minister and Cabinet, Timor-Leste Government – Media Releases|publisher=Pm.gov.tp|access-date=17 July 2011|url-status=dead|archive-url=https://web.archive.org/web/20110615034259/http://www.pm.gov.tp/bill.htm|archive-date=15 June 2011 }}</ref> In 2013, Timor-Leste launched a case at the [[Permanent Court of Arbitration]] in The Hague to pull out of a gas treaty that it had signed with Australia, accusing the [[Australian Secret Intelligence Service]] (ASIS) of [[Covert listening device|bugging]] the East Timorese cabinet room in Dili in 2004.<ref name=ABC>{{cite news|author=Australian Broadcasting Corporation|title=East Timor spying case: PM Xanana Gusmao calls for Australia to explain itself over ASIO raids|newspaper=Australian Broadcasting Corporation|date=5 December 2013|url=http://www.abc.net.au/news/2013-12-04/east-timor-pm-shocked-by-asio-raids-over-spying-case/5135146|access-date=26 May 2022|archive-date=12 April 2016|archive-url=https://web.archive.org/web/20160412181121/http://www.abc.net.au/news/2013-12-04/east-timor-pm-shocked-by-asio-raids-over-spying-case/5135146|url-status=live}}</ref>

At the time of independence Timor-Leste had per capita natural wealth equivalent to the wealth of an upper-middle income country. Over half of this was in oil, and over a quarter natural gas. The [[Timor-Leste Petroleum Fund]] was established in 2005 to turn these non-renewable resources into a more sustainable form of wealth. By 2009 it had a value of US$4.8 billion,<ref name="WBG2009">{{cite web |url=https://openknowledge.worldbank.org/handle/10986/28126 |title=Timor-Leste : Country Environmental Analysis |publisher=World Bank Group |date=July 2009 |access-date=24 May 2022 |archive-date=29 July 2022 |archive-url=https://web.archive.org/web/20220729160348/http://openknowledge.worldbank.org/handle/10986/28126 |url-status=live }}</ref>{{rp|4–6}} and by 2011 it had reached a worth of US$8.7 billion.<ref name="irin-asia">{{cite web|title=Observers divided over oil fund investment|url=http://www.irinnews.org/Report/94001/TIMOR-LESTE-Observers-divided-over-oil-fund-investment|publisher=IRIN Asia|date=18 October 2011|access-date=26 May 2022|archive-date=25 January 2016|archive-url=https://web.archive.org/web/20160125042905/http://www.irinnews.org/report/94001/timor-leste-observers-divided-over-oil-fund-investment|url-status=live}}</ref> Timor-Leste is labelled by the International Monetary Fund as the "most oil-dependent economy in the world".<ref name="art4">{{cite web|title=Article IV Consultation with the Democratic Republic of Timor-Leste|url=http://www.imf.org/external/np/sec/pn/2011/pn1131.htm|publisher=IMF|access-date=26 May 2022|archive-date=31 October 2013|archive-url=https://web.archive.org/web/20131031203415/http://www.imf.org/external/np/sec/pn/2011/pn1131.htm|url-status=live}}</ref> The Petroleum Fund pays for nearly all of the government's annual budget, which increased from $70 million in 2004 to $1.3 billion in 2011, with a $1.8 billion proposal for 2012.<ref name="irin-asia" /> East-Timor's income from oil and gas stands to increase significantly after its cancellation of a controversial agreement with Australia, which gave Australia half of the income from oil and gas from 2006.<ref>{{Cite news|title=East Timor axes Australia border treaty over oil reserves|url=https://www.bbc.com/news/world-asia-38551628|publisher=BBC UK|newspaper=BBC News|date=10 January 2017|access-date=26 May 2022|archive-date=26 May 2022|archive-url=https://web.archive.org/web/20220526233338/https://www.bbc.com/news/world-asia-38551628|url-status=live}}</ref> From 2005 to 2021, $23&nbsp;billion earned from oil sales has entered the fund. $8&nbsp;billion has been generated from investments, while $12 billion has been spent.<ref name="BTI2022">{{cite web |url=https://bti-project.org/en/reports/country-report/TLS |title=Timor-Leste Country Report 2022 |publisher=Bertelsmann Stiftung |year=2022 |access-date=2 May 2022 |archive-date=21 May 2022 |archive-url=https://web.archive.org/web/20220521144437/https://bti-project.org/en/reports/country-report/TLS |url-status=live }}</ref>{{rp|30}} A decrease in oil and gas reserves led to decreasing HDI beginning in 2010.<ref name="BTI2022"/>{{rp|18–19}} 80% of government spending comes from this fund, which as of 2021 had $19&nbsp;billion, 10 times greater than the size of the national budget. As oil income has decreased, the fund is at risk of being exhausted. Withdrawals have exceeded sustainable levels almost every year since 2009.<ref name="BTI2022"/>{{rp|23}}

====Electricity====
Electricidade De Timor-Leste (EDTL) is the vertically integrated monopoly generator and distributor of electric power within the on-grid areas.

===Tourism===
In 2017, the country was visited by 75,000 tourists.<ref>{{Cite web|date=10 September 2018|title=Keine Lust auf Massentourismus? Studie: Die Länder mit den wenigsten Urlaubern der Welt|url=https://www.travelbook.de/ziele/laender/ranking-die-am-wenigsten-besuchten-laender-der-welt|website=TRAVELBOOK|access-date=29 January 2022|archive-date=30 June 2022|archive-url=https://web.archive.org/web/20220630131342/https://www.travelbook.de/ziele/laender/ranking-die-am-wenigsten-besuchten-laender-der-welt|url-status=live}}</ref> Since the later 2010s, tourism has been increasing and the number of hotels and resorts has increased. The government decided to invest in the expansion of the [[Presidente Nicolau Lobato International Airport|international airport in Dili]].

===Transport===
{{Main|Transport in Timor-Leste}}