Haiti Economic Forecast

Haiti Economic Outlook

March 13, 2018

The economy slowed in the second half of 2017, in large part due to the effects of Hurricanes Harvey and Irma. However, on 25 February, the country reached a staff-level agreement with the IMF, paving the way for a development program covering the March–August 2018 period. On 28 February, the government decided that all transactions conducted on the territory must now be paid in Haitian gourde (HTG), in a move that provoked surprise from industry groups as it has the potential to disrupt economic activity, which was mostly conducted in USD beforehand.

Haiti Economic Growth

Growth should gather steam this year, thanks to buoyant global growth and reconstruction spending. Key downside risks remain, however, including the high poverty rate and seasonal hurricanes. The recent decision by the U.S. administration to end Temporary Protected Status for Haitians in July 2019 also threatens remittance inflows, which account for just under 34% of GDP. FocusEconomics panelists foresee growth of 2.4% in 2018, which is down 0.1 percentage points from last month’s forecast. The panel expects the economy to expand 2.6% in 2019.

Haiti Economy Data

Population (million)10.310.410.610.710.8
GDP per capita (USD)760804819793705
GDP (USD bn)
Economic Growth (GDP, annual variation in %)
Consumption (annual variation in %)-
Investment (annual variation in %)
Fiscal Balance (% of GDP)-4.8-7.2-6.3-2.50.0
Public Debt (% of GDP)16.321.526.530.233.5
Money (annual variation in %)
Inflation Rate (CPI, annual variation in %, eop)
Inflation Rate (CPI, annual variation in %)
Benchmark Interest Rate (%)7.0012.0012.0020.0020.00
Exchange Rate (vs USD)42.5543.8846.7556.7049.87
Exchange Rate (vs USD, aop)41.9543.4745.2249.8763.30
Current Account (% of GDP)-5.7-6.4-9.0-2.8-1.2
Current Account Balance (USD bn)-0.4-0.5-0.8-0.2-0.1
Trade Balance (USD billion)-2.3-2.4-2.7-2.4-2.2
Exports (USD billion)
Imports (USD billion)
Exports (annual variation in %)0.818.15.07.1-3.3
Imports (annual variation in %)-
International Reserves (USD)
External Debt (% of GDP)14.818.622.424.5-  

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Haiti Facts

Exchange Rate64.32-1.13 %Mar 15

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