East Timor the Portuguese speaking country that grew the most from 2003 to 2010

16 July 2013

East Timor was the Portuguese speaking country that posted the highest economic growth rate from 2003 to 2010, indicates a report released in Lisbon by Portugal’s National Statistics Institute (INE).

The study titled “Community of Portuguese Language Countries: brief statistical portrait” reports that East Timor posted an average annual gross domestic product (GDP) growth rate of 17.2 percent from 2003 to 2010, ahead of Angola (13.3 percent), Mozambique (7.4 percent) and São Tomé and Principe (5.6 percent).

East Timor’s economic growth is largely linked to the major annual growth in exports (32.7 percent), driven by oil and gas.

This strong growth contrasts with what is happening in Portugal, last on the list, with an annual growth rate of 0.7 percent.

Also in the economic growth category, Brazil posted a positive evolution of 4.4 percent and Guinea-Bissau 3.1 percent.

In 2010, GDP at current (nominal) prices for the group of Community of Portuguese Language Countries (CPLP) was an estimated US$2,470.625 billion, of which Brazil accounted for US$2,142.418 billion (86.72 percent).

Portugal ranked second, though far behind, with US$229.351 billion (9.28 percent), and Angola third with US$82.471 billion (3.34 percent).

The other member countries did not together account for 1.0 percent of the CPLP’s overall GDP.

Per capita GDP in 2010 was an average of US$10,105, with above-average figures only in Portugal and Brazil, with US$21,561 and US$11,086 respectively.

On the other hand, the countries with the lowest per capita GDP were Guinea-Bissau (US$547.2) and Mozambique (US$426.0).

The INE also reported that from 2003 to 2010 GDP in volume (real) posted a positive average annual variation rate in all the CPLP countries.

The original document can be obtained at http://www.cplp.org/Files/Filer/cplp/12CPLP_2012_201307.pdf. (macauhub)