The ocean and the beach in Haiti

Haiti Economy

Haiti's economy in numbers:

Nominal GDP of USD 19.9 billion in 2022.

GDP per capita of USD 1,651 compared to the global average of USD 10,589.

Average real GDP growth of 0.6% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 54% of overall GDP, manufacturing 19%, other industrial activity 6%, and agriculture 21%. Looking at GDP by expenditure, private consumption accounted for 97% of GDP in 2021, government consumption 7%, fixed investment 18%, and net exports -22%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 1997, manufactured products made up 84% of total merchandise exports, mineral fuels 0%, food 15%, ores and metals 0% and agricultural raw materials 0%, with other categories accounting for 1% of the total. In the same period, manufactured products made up 59% of total merchandise imports, mineral fuels 12%, food 26%, ores and metals 1% and agricultural raw materials 2%, with other goods accounting for 0% of the total. Total exports were worth USD 1 billion in 2022, while total imports were USD 5 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 0.6% in the decade to 2022. To read more about GDP growth in Haiti, go to our dedicated page.

Fiscal policy:

Haiti's fiscal deficit averaged 2.0% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 14.2% in the decade to 2022. For more information on Haiti's unemployment click here.

Inflation:

Inflation averaged 23.4% in the decade to 2022. Go to our Haiti inflation page for extra insight.

Exchange Rate:

From end-2012 to end-2022 the gourde weakened by 71% vs the U.S. dollar. For more info on the gourde, click here.
GDP fell 3.8% year on year in October–December 2023 (Q1 FY 2024). The primary sector shrank 6.4%, the secondary sector 4.6%, and the tertiary sector 3.1%; the economy continued to be ravaged by gang violence. That said, some hope for a recovery has now surfaced: A new transitional council took power on 25 April, with one of its members, Edgard Leblanc Fils, selected as its president. The council has a mandate from the Caribbean Community, a regional trading bloc, to hold elections by February 2026 and to restore security in the meantime—a goal which will likely require an as-of-yet undeployed seven-nation peacekeeping force led by Kenya. Preparations for deployment appear to have accelerated in recent weeks, with the U.S. military making several flights into Haiti to secure the airport before building a base of operations for the peacekeeping force.
Projections out to 2033.

26 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 8 expert analysts.

Want to get insight on the economic outlook for Haiti in the coming years? FocusEconomics collects projections out to 2033 on 26 economic indicators for Haiti from a panel of 8 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Haiti economy. To download a sample report on the Haiti's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Haiti Economic Data

2018 2019 2020 2021 2022
Population (million) 11.4 11.6 11.7 11.9 12.1
GDP (USD bn) 16.6 14.8 14.6 20.5 19.9
GDP per capita (USD) 1,458 1,279 1,245 1,719 1,651
GDP (HTG bn) 1,076 1,244 1,450 1,699 2,168
Economic Growth (Nominal GDP, ann. var. %) 9.1 15.6 16.5 17.2 27.6
Economic Growth (GDP, ann. var. %) 1.7 -1.7 -3.3 -1.8 -1.7
Fiscal Balance (% of GDP) -1.1 -2.0 -2.1 -2.3 -1.8
Public Debt (% of GDP) 24.1 26.5 22.3 28.9 28.9
Money (ann. var. of M2 %) 19.2 13.7 4.2 35.5 31.5
Inflation (CPI, ann. var. %, eop) 15.4 20.8 19.2 24.6 48.3
Inflation (CPI, ann. var. %, aop) 12.5 14.5 22.8 16.8 34.0
Average lending rate (%, eop) 16.78 16.90 15.65 15.80 -
Exchange Rate (HTG per USD, eop) 77.38 88.15 74.11 101.45 147.09
Exchange Rate (HTG per USD, aop) 67.40 88.99 93.12 91.03 117.33
Current Account Balance (USD bn) -0.5 -0.2 0.1 0.1 -
Current Account Balance (% of GDP) -2.8 -1.1 0.4 0.4 -
Merchandise Trade Balance (USD bn) -3.5 -3.0 -2.8 -3.3 -3.5
Merchandise Exports (USD bn) 1.1 1.2 0.9 1.1 1.3
Merchandise Imports (USD bn) 4.6 4.2 3.7 4.4 4.8
Merchandise Exports (ann. var. %) 8.8 11.4 -26.3 27.7 10.9
Merchandise Imports (ann. var. %) 16.0 -8.3 -12.5 19.8 7.8
Foreign Direct Investment (USD bn) 0.1 0.1 0.0 0.1 0.0
International Reserves (USD bn) 2.3 2.4 2.6 2.7 2.4
International Reserves (months of imports) 5.9 6.7 8.4 7.4 6.0
External Debt (USD bn) 2.2 2.2 2.3 2.6 2.6
External Debt (% of GDP) 13.3 15.0 15.8 12.7 12.8

Free Sample Report

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