| Economy | Haiti |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
Haiti is the poorest country in the Western Hemisphere, with 80% of the population living under the poverty line and 54% in abject poverty. Two-thirds of all Haitians depend on the agricultural sector, mainly small-scale subsistence farming, and remain vulnerable to damage from frequent natural disasters, exacerbated by the country's widespread deforestation. While the economy has recovered in recent years, registering positive growth since 2005, four tropical storms in 2008 severely damaged the transportation infrastructure and agricultural sector. US economic engagement under the Haitian Hemispheric Opportunity through Partnership Encouragement (HOPE) Act, passed in December 2006, has boosted apparel exports and investment by providing tariff-free access to the US. HOPE II, passed in October 2008, has further improved the export environment for the apparel sector by extending preferences to 2018; the apparel sector accounts for two-thirds of Haitian exports and nearly one-tenth of GDP. Remittances are the primary source of foreign exchange, equaling nearly a quarter of GDP and more than twice the earnings from exports. Haiti suffers from high inflation, a lack of investment because of insecurity and limited infrastructure, and a severe trade deficit. In 2005, Haiti paid its arrears to the World Bank, paving the way for reengagement with the Bank. Haiti is expected to receive debt forgiveness for about $525 million of its debt through the Highly-Indebted Poor Country (HIPC) initiative by mid-2009. The government relies on formal international economic assistance for fiscal sustainability. |
GDP (purchasing power parity):
|
$11.59 billion (2008 est.)
$11.33 billion (2007)
$10.98 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$1,300 (2008 est.)
$1,300 (2007 est.)
$1,300 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$6.966 billion (2008 est.) |
GDP - real growth rate:
|
2.3% (2008 est.)
3.2% (2007 est.)
2.3% (2006 est.) |
GDP - composition by sector:
|
agriculture: 28%
industry: 20%
services: 52% (2004 est.) |
Investment (gross fixed):
|
28.9% of GDP (2008 est.) |
Population below poverty line:
|
80% (2003 est.) |
Household income or consumption by percentage share:
|
lowest 10%: 0.7%
highest 10%: 47.7% (2001) |
Distribution of family income - Gini index:
|
59.2 (2001) |
Inflation rate (consumer prices):
|
15.8% (2008 est.) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
46.99% (31 December 2007) |
Stock of money:
|
$704.7 million (31 December 2007) |
Stock of money - per capita:
|
78 USD per capita |
Stock of quasi money:
|
$1.561 billion (31 December 2007) |
Stock of quasi money - per capita:
|
173 USD per capita |
Stock of domestic credit:
|
$1.537 billion (31 December 2007) |
Stock of domestic credit - per capita:
|
171 USD per capita |
Labor force:
|
3.6 million
note: shortage of skilled labor, unskilled labor abundant (1995) |
Labor force participation rate:
|
39.84 % of population |
Labor force - by occupation:
|
agriculture: 66%
industry: 9%
services: 25% (1995) |
Unemployment rate:
|
widespread unemployment and underemployment; more than two-thirds of the labor force do not have formal jobs (2002 est.) |
Budget:
|
revenues: $820.6 million
expenditures: $965.2 million (2008 est.) |
Budget revenues per capita:
|
91 USD per capita |
Public debt:
|
void |
Industries:
|
sugar refining, flour milling, textiles, cement, light assembly based on imported parts |
Industrial production growth rate:
|
1.2% (2008 est.) |
Electricity - production:
|
549 million kWh (2006 est.) |
Electricity - production per capita:
|
61 kWh per capita |
Electricity - consumption:
|
330 million kWh (2006 est.) |
Electricity - consumption - per capita:
|
37 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
12,370 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
0.50 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2005) |
Oil - imports:
|
11,980 bbl/day (2005) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
coffee, mangoes, sugarcane, rice, corn, sorghum; wood |
Current account balance:
|
-$664 million (2008 est.) |
Current account balance - per capita:
|
-73 USD per capita |
Exports:
|
$491 million f.o.b. (2008 est.) |
Exports per capita:
|
55 USD per capita |
Exports - commodities:
|
apparel, manufactures, oils, cocoa, mangoes, coffee |
Exports - partners:
|
US 72.9%, Dominican Republic 8.8%, Canada 3.3% (2007) |
Imports:
|
$2.095 billion f.o.b. (2008 est.) |
Imports per capita:
|
232 USD per capita |
Imports - commodities:
|
food, manufactured goods, machinery and transport equipment, fuels, raw materials |
Imports - partners:
|
US 41.2%, Netherlands Antilles 14.9%, China 4.7%, Brazil 4.4% (2007) |
Reserves of foreign exchange and gold:
|
$482 million (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
54 USD per capita |
Debt - external:
|
$1.463 billion (31 December 2008 est.) |
Debt - external - per capita:
|
162 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$515 million (2005 est.) |
Economic aid - recipient per capita:
|
57 USD per capita |
Currency (code):
|
gourde (HTG) |
Exchange rates:
|
gourdes (HTG) per US dollar - 39.216 (2008 est.), 37.138 (2007), 40.232 (2006), 40.449 (2005), 38.352 (2004) |
Fiscal year:
|
1 October - 30 September |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
