Economy - overview About 75% 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 or no 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 1998 will be especially challenging in the face of mounting popular criticism of reforms.

GDP purchasing power parity - $7.1 billion (1997 est.)

GDP - real growth rate 1.1% (1997 est.)

GDP - per capita purchasing power parity - $1,070 (1997 est.)

GDP - composition by sector
agriculture: 44%
industry: 13%
services: 43% (1995)

Inflation rate - consumer price index 17% (1997 est.)

Labor force
total: 3.6 million (1995)
by occupation: agriculture 66%, services 25%, industry 9%
note: shortage of skilled labor, unskilled labor abundant (1982)

Unemployment rate 60% (1996 est.)

Budget
revenues: $284 million
expenditures: $308 million, including capital expenditures of $NA (FY96/97 est.)

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

Industrial production growth rate 2.5% (1995 est.)

Electricity - capacity 153,000 kW (1995)

Electricity - production 315 million kWh (1995)

Electricity - consumption per capita 48 kWh (1995)

Agriculture - products coffee, mangoes, sugarcane, rice, corn, sorghum; wood

Exports
total value: $90 million (f.o.b., 1996)
commodities: light manufactures 53%, coffee 17%, other agriculture 17%
partners: US 76.3%, EU 19.8% (1996)

Imports
total value: $665 million (f.o.b., 1996)
commodities: machines and manufactures 34%, food and beverages 22%, petroleum products 14%, chemicals 10%, fats and oils 9%
partners: US 65.0%, EU 13.9% (1995)

Debt - external $781 million (1995 est.)

Economic aid
recipient: ODA, $NA

Currency 1 gourde (G) = 100 centimes

Exchange rates gourdes (G) per US$1 (end of period) - 17.311 (December 1997), 17.311 (1997), 15.093 (1996), 16.160 (1995), 12.947 (1994), 12.805 (1993)

Fiscal year 1 October - 30 September

NOTE: The information regarding Haiti on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Haiti Economy 1998 information contained here. All suggestions for corrections of any errors about Haiti Economy 1998 should be addressed to the CIA.