Economy - overview:
Haiti is a free market economy that enjoys the advantages of low labor costs and tariff-free access to the US for many of its exports. Poverty, corruption, and poor access to education for much of the population are among Haiti's most serious disadvantages. Over the longer term, Haiti needs to create jobs for its young workforce and to build institutional capacity. Haiti's economy suffered a severe setback when a 7.0 magnitude earthquake destroyed much of its capital city, Port-au-Prince, and neighboring areas in January 2010. Already the poorest country in the Western Hemisphere with 80% of the population living under the poverty line and 54% in abject poverty, the damage to Port-au-Prince caused the country's GDP to contract an estimated 5.1% in 2010. 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. 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 duty-free access to the US. Congress voted in 2010 to extend the legislation until 2020 under the Haitian Economic Lift Act (HELP); the apparel sector accounts for three-quarters of Haitian exports and nearly one-tenth of GDP. Remittances are the primary source of foreign exchange, equaling nearly 20% of GDP and more than twice the earnings from exports. Haiti suffers from a lack of investment, partly because of limited infrastructure and a lack of security. In 2005, Haiti paid its arrears to the World Bank, paving the way for reengagement with the Bank. Haiti received debt forgiveness for over $1 billion through the Highly-Indebted Poor Country (HIPC) initiative in mis-2009. The remainder of its outstanding external debt was cancelled by donor countries in early 2010 but has since risen to about $400 million. The government relies on formal international economic assistance for fiscal sustainability, with over half of its annual budget coming from outside sources.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: 1) The information regarding Haiti on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Haiti Economy 2012 information contained here. All suggestions for corrections of any errors about Haiti Economy 2012 should be addressed to the CIA.
$12.44 billion (2011 est.)
country comparison to the world: 145
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$7.4 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
6.1% (2011 est.)
country comparison to the world: 44
[see also: GDP - real growth rate country ranks ]
$1,200 (2011 est.)
country comparison to the world: 206
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 25%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 16%
[see also: GDP - composition by sector - industry country ranks ]
services: 59% (2010 est.)
[see also: GDP - composition by sector - services country ranks ]
4.81 million
country comparison to the world: 76
note: shortage of skilled labor, unskilled labor abundant (2010 est.)
[see also: Labor force country ranks ]
agriculture: 38.1%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 11.5%
[see also: Labor force - by occupation - industry country ranks ]
services: 50.4% (2010)
[see also: Labor force - by occupation - services country ranks ]
40.6% (2010 est.)
country comparison to the world: 186
note: widespread unemployment and underemployment; more than two-thirds of the labor force do not have formal jobs
[see also: Unemployment rate country ranks ]
80% (2003 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 0.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 47.7% (2001)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
59.2 (2001)
country comparison to the world: 8
[see also: Distribution of family income - Gini index country ranks ]
25% of GDP (2010 est.)
country comparison to the world: 67
[see also: Investment (gross fixed) country ranks ]
revenues: $1.485 billion
[see also: Budget revenues country ranks ]
expenditures: $1.658 billion (2011 est.)
[see also: Budget expenditures country ranks ]
20.1% of GDP (2011 est.)
country comparison to the world: 156
[see also: Taxes and other revenues country ranks ]
-2.3% of GDP (2011 est.)
country comparison to the world: 86
[see also: Budget surplus (+) or deficit (-) country ranks ]
9.3% (2011 est.)
country comparison to the world: 186
[see also: Inflation rate (consumer prices) country ranks ]
18% (31 December 2011 est.)
country comparison to the world: 29
[see also: Commercial bank prime lending rate country ranks ]
$994 million (31 December 2010 est.)
country comparison to the world: 145
[see also: Stock of narrow money country ranks ]
$2.945 billion (31 December 2011 est.)
country comparison to the world: 142
[see also: Stock of broad money country ranks ]
$1.991 billion (31 December 2011 est.)
country comparison to the world: 133
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
coffee, mangoes, sugarcane, rice, corn, sorghum; wood
textiles, sugar refining, flour milling, cement, light assembly based on imported parts
-4.8% (2010 est.)
country comparison to the world: 161
[see also: Industrial production growth rate country ranks ]
650 million kWh (2010 est.)
country comparison to the world: 155
[see also: Electricity - production country ranks ]
309 million kWh (2010 est.)
country comparison to the world: 168
[see also: Electricity - consumption country ranks ]
NA kWh (2010 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2010 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2010 est.)
country comparison to the world: 180
[see also: Oil - production country ranks ]
12,000 bbl/day (2010 est.)
country comparison to the world: 149
[see also: Oil - consumption country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 178
[see also: Oil - exports country ranks ]
13,480 bbl/day (2009 est.)
country comparison to the world: 136
[see also: Oil - imports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 194
[see also: Natural gas - production country ranks ]
0 cu m (2009 est.)
country comparison to the world: 188
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 112
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 203
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2011 est.)
country comparison to the world: 146
[see also: Natural gas - proved reserves country ranks ]
-$1.206 billion (2011 est.)
country comparison to the world: 135
[see also: Current account balance country ranks ]
$690.3 million (2011 est.)
country comparison to the world: 163
[see also: Exports country ranks ]
apparel, manufactures, oils, cocoa, mangoes, coffee
US 90.2%, Canada 4%, France 1.5% (2010)
$3.275 billion (2011 est.)
country comparison to the world: 144
[see also: Imports country ranks ]
food, manufactured goods, machinery and transport equipment, fuels, raw materials
US 51%, Dominican Republic 19%, China 11% (2010 est.)
$1.18 billion (31 December 2011 est.)
country comparison to the world: 130
[see also: Reserves of foreign exchange and gold country ranks ]
$630.2 million (31 December 2011 est.)
country comparison to the world: 163
[see also: Debt - external country ranks ]
gourdes (HTG) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12