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Economy - overview:
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About 80% of the population lives in abject poverty. Nearly 70% of all Haitians depend on the agriculture sector, which consists mainly of small-scale subsistence farming and employs about two-thirds of the economically active work force. Following legislative elections in May 2000, fraught with irregularities, international donors - including the US and EU - suspended almost all aid to Haiti. The economy shrank an estimated 1.2% in 2001 and an estimated 0.9% in 2002. The contraction will likely intensify in 2003 unless a political agreement with donors is reached on economic policy. Suspended aid and loan disbursements totaled more than $500 million at the start of 2003.
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GDP:
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purchasing power parity - $10.6 billion (2002 est.)
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GDP - real growth rate:
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-0.9% (2002 est.)
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GDP - per capita:
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purchasing power parity - $1,400 (2002 est.)
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GDP - composition by sector:
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agriculture: 30%
industry: 20%
services: 50% (2001 est.)
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Population below poverty line:
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80% (2002 est.)
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Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA%
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Inflation rate (consumer prices):
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11.9% (2001 est.)
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Labor force:
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3.6 million
note: shortage of skilled labor, unskilled labor abundant (1995)
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Labor force - by occupation:
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agriculture 66%, services 25%, industry 9%
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Unemployment rate:
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widespread unemployment and underemployment; more than two-thirds of the labor force do not have formal jobs (2002 est.)
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Budget:
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revenues: $273 million
expenditures: $361 million, including capital expenditures of $NA (FY 00/01 est.)
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Industries:
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sugar refining, flour milling, textiles, cement, light assembly industries based on imported parts
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Industrial production growth rate:
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NA
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Electricity - production:
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580 million kWh (2001)
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Electricity - production by source:
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fossil fuel: 60.3%
hydro: 39.7%
other: 0% (2001)
nuclear: 0%
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Electricity - consumption:
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539.4 million kWh (2001)
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Electricity - exports:
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0 kWh (2001)
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Electricity - imports:
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0 kWh (2001)
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Oil - production:
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0 bbl/day (2001 est.)
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Oil - consumption:
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11,000 bbl/day (2001 est.)
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Oil - exports:
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NA (2001)
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Oil - imports:
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NA (2001)
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Agriculture - products:
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coffee, mangoes, sugarcane, rice, corn, sorghum; wood
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Exports:
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$298 million f.o.b. (2002)
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Exports - commodities:
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manufactures, coffee, oils, cocoa
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Exports - partners:
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US 83.9%, Dominican Republic 6.6%, Canada 2.4% (2002)
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Imports:
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$1.14 billion c.i.f. (2002)
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Imports - commodities:
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food, manufactured goods, machinery and transport equipment, fuels, raw materials
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Imports - partners:
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US 53.4%, Dominican Republic 5.3%, Colombia 3.4% (2002)
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Debt - external:
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$1.2 billion (1999)
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Economic aid - recipient:
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$120 million (FY02)
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Currency:
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gourde (HTG)
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Currency code:
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HTG
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Exchange rates:
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gourdes per US dollar - 29.25 (2002), 24.43 (2001), 21.17 (2000), 16.94 (1999), 16.77 (1998)
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Fiscal year:
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1 October - 30 September
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