Haiti Economic Forecast

Haiti Economic Outlook

October 11, 2017

Although Hurricanes Irma and Maria did not directly hit Haiti, they still brought heavy rains, which led to floods that covered large swaths of the country and damaged infrastructure and crops. Moreover, in the last few weeks, the country was engulfed by the biggest protests against the administration of President Jovenel Moïse since the beginning of his term in February. The outcry was led by former presidential candidate Jean-Charles Moïse following the introduction of new taxes in the national budget for next year. Political unrest and natural disasters are threatening to derail any economic recovery in the region’s poorest country.

Haiti Economy Data

20122013201420152016
Population (million)11.311.411.611.711.8
GDP per capita (USD)760804819793705
GDP (USD bn)7.88.48.78.57.7
Economic Growth (GDP, annual variation in %)2.94.22.81.21.4
Consumption (annual variation in %)-5.22.72.42.31.2
Investment (annual variation in %)6.26.13.83.61.1
Fiscal Balance (% of GDP)-4.8-7.2-6.3-2.50.0
Public Debt (% of GDP)16.321.526.530.233.5
Money (annual variation in %)8.26.38.912.37.6
Inflation Rate (CPI, annual variation in %, eop)7.63.46.412.514.3
Inflation Rate (CPI, annual variation in %)6.35.94.69.013.8
Benchmark Interest Rate (%)7.0012.0012.0020.0020.00
Exchange Rate (vs USD)42.5543.8846.7556.7049.87
Exchange Rate (vs USD, aop)41.9543.4745.2249.8763.30
Current Account (% of GDP)-5.7-6.4-9.0-2.8-1.2
Current Account Balance (USD bn)-0.4-0.5-0.8-0.2-0.1
Trade Balance (USD billion)-2.3-2.4-2.7-2.4-2.2
Exports (USD billion)0.80.91.01.01.0
Imports (USD billion)3.13.33.73.43.2
Exports (annual variation in %)0.818.15.07.1-3.3
Imports (annual variation in %)-7.18.111.1-6.0-7.6
International Reserves (USD)2.11.81.61.42.2
External Debt (% of GDP)14.818.622.424.5-  

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Haiti Facts

ValueChangeDate
Exchange Rate61.58-0.90 %Oct 13

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Haiti Economic Growth

October 11, 2017

Next year, economic growth should accelerate as the country continues to recover from the devastation of Hurricane Matthew in 2016. Moreover, lower inflation should boost the disposable income of Haitian consumers. Met the why particular panelists foresee growth of 1.1% in 2017. The panel expects the economy to expand 2.5% in 2018, which is unchanged from last month’s forecast.

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