The US Central Intelligence Agency (CIA) reports that in 2001 East Timor's GDP was estimated at $415 million. The per capita GDP was estimated at under $500. The annual growth rate of GDP was forecast at -2% in 2003. The average inflation rate was estimated at 3% in 2001. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 25% of GDP, industry 17%, and services 57%.