Haiti Economic Forecast

Haiti Economic Outlook

August 7, 2018

Surging political instability likely hampered the economy in the past few weeks, after the 6 July announcement of an IMF-backed hike in fuel prices led to massive public protests that eventually led to the resignation of Prime Minister Jack Guy Lafontant on 14 July. Furthermore, recent data shows the economy slowed in January–March due to a contraction in manufacturing and electricity output, while employment growth was also weak. On a more positive note, the country is expected to reach an agreement by the end of the year with Taiwan to rebuild the nation’s crumbling power grid.

Haiti Economic Growth

Although growth will likely increase this year on foreign-aid fueled reconstruction efforts, recent political instability threatens to derail the IMF-backed adjustment plan. This could paralyze the country and its government as social unrest—fueled by high levels of poverty and corruption—runs deep. Met the why particular panelists foresee growth of 2.2% in 2018, which is unchanged from last month’s forecast. The panel expects the economy to expand 2.8% in 2019.

Haiti Economy Data

20132014201520162017
Population (million)11.411.611.711.811.0
GDP per capita (USD)804819793705776
GDP (USD bn)8.48.78.57.78.5
Economic Growth (GDP, annual variation in %)4.22.81.21.51.2
Consumption (annual variation in %)2.70.92.31.22.7
Investment (annual variation in %)6.12.13.61.10.9
Fiscal Balance (% of GDP)-7.2-6.4-2.5-0.1-1.0
Public Debt (% of GDP)21.526.330.233.931.1
Money (annual variation in %)6.38.914.65.511.7
Inflation Rate (CPI, annual variation in %, eop)3.46.412.514.313.3
Inflation Rate (CPI, annual variation in %)5.94.69.013.814.7
Benchmark Interest Rate (%)11.2511.2512.5013.3311.50
Exchange Rate (vs USD)43.8846.7556.7067.3963.69
Exchange Rate (vs USD, aop)43.4745.2249.8763.3064.77
Current Account (% of GDP)-6.5-8.8-3.2-1.1-2.8
Current Account Balance (USD bn)-0.5-0.8-0.3-0.1-0.2
Trade Balance (USD billion)-2.4-2.7-2.4-2.2-2.6
Exports (USD billion)0.91.01.01.01.0
Imports (USD billion)3.33.73.43.23.6
Exports (annual variation in %)18.15.07.1-3.3-1.5
Imports (annual variation in %)8.111.1-5.9-7.713.6
International Reserves (USD)2.42.01.92.12.4
External Debt (% of GDP)18.622.424.528.2-  

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Haiti Facts

ValueChangeDate
Exchange Rate66.99-1.13 %Aug 15

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