Go into your FTP options and see if passive mode is checked ,if it is, uncheck it. If it is not checked, try checking it. This should solve your problem, assuming the issue is not with your actual connection to the Internet.
FTP timeout - This time is set on your ftp program. Usually ftp timeout is due to a bad internet connection, bad ftp program, or the server is temporarily unavailable.
Specific Issue: You can connect to FTP, but immediately times out when trying to upload files.
Cause: FTP-DATA packets are being blocked by the server.
Resolution: Contact HostGator and provide us your connecting IP address, found here.
Remember, we have a limit of 8 simultaneous FTP connections per your connecting IP address.