Haiti Economy Snapshot - Prosperity Data360
Summary — A comprehensive economic data snapshot of Haiti for 2024, showing key indicators including GDP, inflation, trade, finance, and competitiveness metrics. The document presents Haiti's economic performance compared to regional and global averages.
Key Findings
- Haiti's economy contracted by 4.17% in 2024, indicating severe economic challenges.
- Inflation reached an extremely high level of 26.95% in 2024, severely impacting purchasing power.
- GDP per capita remains low at $3,180 (PPP), reflecting limited economic development.
- Financial inclusion is very low, with only 6.85% using digital payments and 5.95% using cards.
- Haiti scores poorly on business competitiveness indicators, particularly in investor protection (18.0) and insolvency resolution (0.0).
Full Description
This World Bank Prosperity Data360 economy snapshot provides a comprehensive overview of Haiti's economic situation as of 2024. Haiti is classified as a lower middle-income country within the Latin America and Caribbean region, with a GDP per capita of $3,180 (PPP) and a population of 11.77 million people.
The economic indicators reveal significant challenges, with GDP growth showing a negative 4.17% in 2024 and inflation running extremely high at 26.95%. The employment to population ratio stands at 55.11% (2012 data), while 60.47% of the population lives in urban areas. The female to male labor force ratio is 73.33%, indicating gender disparities in employment.
In terms of financial inclusion and competitiveness, Haiti lags behind regional and global averages across most indicators. Only 6.85% of the population used mobile phones or internet to pay bills (2017), and 5.95% used debit or credit cards. The Doing Business score shows Haiti performing below Latin American and Caribbean averages in most categories, with particularly low scores in protecting minority investors (18.0) and resolving insolvency (0.0).
The data spans from 2012 to 2024, with most recent economic indicators from 2024, providing insights into Haiti's economic trajectory and highlighting areas where policy interventions may be needed to improve economic performance and competitiveness.