East Timor expected to post two figure economic growth in 2013 and 2014

10 April 2013

East Timor is the second of only two countries in Asia that in 2013 and 2014 are expected to post economic growth of two figures, with 10 percent growth in both years, according to the 2013 report from the Asia Development Bank.

The only Portuguese-speaking Asia country is behind Mongolia alone, which is expected to post growth of 16.5 percent in 2013 and 14.0 percent in 2014. The average for Asian countries is expected to be 6.6 percent in 2013 and 6.7 percent in 2014.

In 2012 four Asian countries posted two figure economic growth, – Mongólia (12.3 percent), Afghanistan (11.9 percent), Turkmenistan (11.9 percent) and East Timor in fourth place with 10.6 percent.

The Pacific sub-region, in which the Asia Development Bank includes East Timor, sees the biggest slowdown in the rate of economic growth, which is expected to fall from 7.3 percent in 2012 to 5.2 percent in 2013 and increase slightly to 5.5 percent in 2014.

These estimates, which were presented Tuesday, project economic growth of 8.2 percent for China in 2013, driven by Asia’s recovery. (macauhub)