Haiti Economy - 2024

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

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% (2021 est.)

male: 28.1%

female: 45.6%

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)

Remittances

20.04% of GDP (2021 est.)
23.82% of GDP (2020 est.)
20.47% of GDP (2019 est.)

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 -

Exchange rates:
89.227 (2021 est.)
93.51 (2020 est.)
88.815 (2019 est.)
68.032 (2018 est.)
64.77 (2017 est.)