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    Haiti Index 2006

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    Haiti Economy - 2006
    https://theodora.com/wfbcurrent/haiti/haiti_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      Economy - overview:
      In this poorest country in the Western Hemisphere, 80% of the population lives in abject poverty. Two-thirds of all Haitians depend on the agriculture sector, mainly small-scale subsistence farming, and remain vulnerable to damage from frequent natural disasters, exacerbated by the country's widespread deforestation. The economy grew 1.5% in 2005, the highest growth rate since 1999. Haiti suffers from rampant inflation, a lack of investment, and a severe trade deficit. In early 2005, Haiti paid its arrears to the World Bank, paving the way for reengagement with the Bank. The government is reliant on formal international economic assistance for fiscal sustainability. Remittances are the primary source of foreign exchange, equaling nearly a quarter of GDP in 2005.

      GDP (purchasing power parity):
      $12.85 billion (2005 est.)

      GDP (official exchange rate):
      $4.321 billion (2005 est.)

      GDP - real growth rate:
      1.5% (2005 est.)

      GDP - per capita (PPP):
      $1,600 (2005 est.)

      GDP - composition by sector:
      agriculture: 28%
      industry: 20%
      services: 52% (2004 est.)

      Labor force:
      3.6 million
      note: shortage of skilled labor, unskilled labor abundant (1995)

      Labor force - by occupation:
      agriculture: 66%
      industry: 9%
      services: 25%

      Unemployment rate:
      widespread unemployment and underemployment; more than two-thirds of the labor force do not have formal jobs (2002 est.)

      Population below poverty line:
      80% (2003 est.)

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices):
      15.2% (2005 est.)

      Investment (gross fixed):
      27.4% of GDP (2004 est.)

      Budget:
      revenues: $400 million
      expenditures: $600.8 million; including capital expenditures of $NA (2005 est.)

      Agriculture - products:
      coffee, mangoes, sugarcane, rice, corn, sorghum; wood

      Industries:
      sugar refining, flour milling, textiles, cement, light assembly industries based on imported parts

      Industrial production growth rate:
      NA%

      Electricity - production:
      546 million kWh (2003)

      Electricity - consumption:
      507.8 million kWh (2003)

      Electricity - exports:
      0 kWh (2003)

      Electricity - imports:
      0 kWh (2003)

      Oil - production:
      0 bbl/day (2003 est.)

      Oil - consumption:
      11,800 bbl/day (2003 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Natural gas - production:
      0 cu m (2003 est.)

      Natural gas - consumption:
      0 cu m (2003 est.)

      Current account balance:
      $34.08 million (2005 est.)

      Exports:
      $390.7 million f.o.b. (2005 est.)

      Exports - commodities:
      manufactures, coffee, oils, cocoa, mangoes

      Exports - partners:
      US 81.2%, Dominican Republic 7.3%, Canada 4.1% (2004)

      Imports:
      $1.471 billion f.o.b. (2005 est.)

      Imports - commodities:
      food, manufactured goods, machinery and transport equipment, fuels, raw materials

      Imports - partners:
      US 34.8%, Netherlands Antilles 18%, Malaysia 5.1%, Colombia 4.7% (2004)

      Reserves of foreign exchange and gold:
      $95.26 million (2005 est.)

      Debt - external:
      $1.3 billion (2005 est.)

      Economic aid - recipient:
      $153 million (FY05 est.)

      Currency (code):
      gourde (HTG)

      Exchange rates:
      gourdes per US dollar - 40.449 (2005), 38.352 (2004), 42.367 (2003), 29.251 (2002), 24.429 (2001)

      Fiscal year:
      1 October - 30 September


      NOTE: The information regarding Haiti on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Haiti Economy 2006 information contained here. All suggestions for corrections of any errors about Haiti Economy 2006 should be addressed to the CIA.

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    https://theodora.com/wfbcurrent/haiti/haiti_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


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