Haiti Economy Profile 2000

Economy - overview

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. The country has experienced little job creation since President PREVAL took office in February 1996, although the informal economy is growing. Failure to reach agreements with international sponsors have denied Haiti badly needed budget and development assistance. Meeting aid conditions in 2000 will be especially challenging in the face of mounting popular criticism of reforms.

GDP (purchasing power parity)

purchasing power parity - $9.2 billion (1999 est.)

GDP - real growth rate

2.4% (1999 est.)

GDP - per capita (PPP)

purchasing power parity - $1,340 (1999 est.)

GDP - composition by sector

agriculture:32%
industry:20%
services:48% (1998 est.)

Population below poverty line

80% (1998 est.)

Household income or consumption by percentage share

lowest 10%:NA%
highest 10%:NA%

Inflation rate (consumer prices)

9% (1999 est.)

Labor force

3.6 million (1995)
note:shortage of skilled labor, unskilled labor abundant (1998)

Labor force - by occupation

agriculture 66%, services 25%, industry 9%

Unemployment rate

70%; widespread underemployment; more than two-thirds of the labor force do not have formal jobs (1999)

Budget

revenues:$323 million
expenditures:$363 million, including capital expenditures of $NA (FY97/98 est.)

Industries

sugar refining, flour milling, textiles, cement, tourism, light assembly industries based on imported parts

Industrial production growth rate

0.6% (1997 est.)

Electricity - production

728 million kWh (1998)

Electricity - production by source

fossil fuel:55.63%
hydro:41.62%
nuclear:0%
other:2.75% (1998)

Electricity - consumption

677 million kWh (1998)

Electricity - exports

0 kWh (1998)

Electricity - imports

0 kWh (1998)

Agriculture - products

coffee, mangoes, sugarcane, rice, corn, sorghum; wood

Exports

$322 million (f.o.b., 1999)

Exports - commodities

manufactures, coffee, oils, mangoes

Exports - partners

US 86%, EU 11% (1998)

Imports

$762 million (c.i.f., 1999)

Imports - commodities

food, machinery and transport equipment, fuels

Imports - partners

US 60%, EU 12% (1998)

Debt - external

$1 billion (1997 est.)

Economic aid - recipient

$730.6 million (1995)

Currency

1 gourde (G) = 100 centimes

Exchange rates

gourdes (G) per US$1 - 18.262 (January 2000), 17.965 (1999), 16.505 (1998), 17.311 (1997), 15.093 (1996), 16.160 (1995)

Fiscal year

1 October - 30 September