Haiti Economic Forecast

Haiti Economic Outlook

December 7, 2017

Economic growth is slowly picking up pace on the back of reconstruction efforts, declining inflation and healthy inflows of remittances. The political environment worsened in November following President Jovenel Moïse’s decision to reintroduce a national army, which was abolished in 1995 after years of military interference in politics. Furthermore, the U.S. administration decided to end Temporary Protected Status (TPS) for Haitians in July 2019. As a result, about 60,000 Haitians could be forced to return to Haiti, threatening a severe reduction in all-important remittances.

Haiti Economic Growth

Although the economy should continue its recovery next year, Haiti’s chronic poverty, large economic imbalances and vulnerability to weather-related phenomena will continue to limit any sharp uptick in economic growth. Met the why particular panelists foresee growth of 2.4% in 2018, which is up 0.1 percentage points from last month’s forecast. The panel expects the economy to expand 2.5% in 2019.

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 Rate62.59-1.13 %Dec 06

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