Haiti Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

small Caribbean island economy and OECS-member state; extreme poverty and inflation; enormous income inequality; ongoing civil unrest due to recent presidential assassination; US preferential market access; very open to foreign direct investment

Real GDP (purchasing power parity)

$32.856 billion (2021 est.)

$33.458 billion (2020 est.)

$34.615 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

-1.8% (2021 est.)

-3.34% (2020 est.)

-1.68% (2019 est.)

Real GDP per capita

$2,900 (2021 est.)

$3,000 (2020 est.)

$3,100 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$8.608 billion (2017 est.)

Inflation rate (consumer prices)

16.84% (2021 est.)

22.8% (2020 est.)

18.7% (2019 est.)

GDP - composition, by sector of origin

agriculture: 22.1% (2017 est.)

industry: 20.3% (2017 est.)

services: 57.6% (2017 est.)

GDP - composition, by end use

household consumption: 99.1% (2017 est.)

government consumption: 10% (2016 est.)

investment in fixed capital: 32.6% (2016 est.)

investment in inventories: -1.4% (2017 est.)

exports of goods and services: 20% (2017 est.)

imports of goods and services: -60.3% (2017 est.)

note: figure for household consumption also includes government consumption

Agricultural products

sugar cane, cassava, mangoes/guavas, plantains, bananas, yams, avocados, maize, rice, vegetables

Industries

textiles, sugar refining, flour milling, cement, light assembly using imported parts

Industrial production growth rate

-2.48% (2021 est.)

Labor force

5.01 million (2021 est.)

note: shortage of skilled labor; unskilled labor abundant

Labor force - by occupation

agriculture: 38.1%

industry: 11.5%

services: 50.4% (2010)

Unemployment rate

15.73% (2021 est.)

15.45% (2020 est.)

13.91% (2019 est.)

note: widespread unemployment and underemployment; more than two-thirds of the labor force do not have formal jobs

Youth unemployment rate (ages 15-24)

total: 35.7%

male: 28.1%

female: 45.6% (2021 est.)

Population below poverty line

58.5% (2012 est.)

Gini Index coefficient - distribution of family income

41.1 (2012 est.)

Household income or consumption by percentage share

lowest 10%: 0.7%

highest 10%: 47.7% (2001)

Budget

revenues: $1.179 billion (2020 est.)

expenditures: $1.527 billion (2020 est.)

Budget surplus (+) or deficit (-)

-1% (of GDP) (2017 est.)

Public debt

31.1% of GDP (2017 est.)

33.9% of GDP (2016 est.)

Taxes and other revenues

18.2% (of GDP) (2017 est.)

Fiscal year

1 October - 30 September

Current account balance

$141.371 million (2021 est.)

$216.157 million (2020 est.)

-$168.76 million (2019 est.)

Exports

$1.241 billion (2021 est.) note: data are in current year dollars

$1.014 billion (2020 est.) note: data are in current year dollars

$1.733 billion (2019 est.)

Exports - partners

United States 83%, Canada 4%, Mexico 3%, India 1%, Hong Kong 1% (2021)

Exports - commodities

clothing and apparel, essential oils, eels, mangoes, scrap iron (2021)

Imports

$5.222 billion (2021 est.) note: data are in current year dollars

$4.206 billion (2020 est.) note: data are in current year dollars

$5.161 billion (2019 est.)

Imports - partners

United States 26%, Dominican Republic 23%, China 19%, Turkey 3%, Indonesia 3% (2021)

Imports - commodities

refined petroleum, rice, clothing and apparel, poultry, palm oil (2021)

Reserves of foreign exchange and gold

$2.759 billion (31 December 2021 est.)

$2.59 billion (31 December 2020 est.)

$2.355 billion (31 December 2019 est.)

Debt - external

$2.762 billion (31 December 2017 est.)

$2.17 billion (31 December 2016 est.)

Exchange rates

gourdes (HTG) per US dollar -

89.227 (2021 est.)

93.51 (2020 est.)

88.815 (2019 est.)

68.032 (2018 est.)

64.77 (2017 est.)

NOTE: The information regarding Haiti on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Haiti 2023 information contained here. All suggestions for corrections of any errors about Haiti 2023 should be addressed to the CIA or the source cited on each page.