The Economic Accounts in 2022

The Haitian Institute of Statistics and Informatics' annual analysis of the national accounts for fiscal year 2022, issued by the Directorate of Economic Statistics in December 2022 and running to 22 pages.

GDP at constant prices fell 1.7 percent in 2022 after falls of 1.7, 3.3 and 1.8 percent in fiscal years 2019, 2020 and 2021, an average contraction of about 2.1 percent a year over four years. The fall was sharper than the 0.4 percent the institute had forecast, which it attributes to the accelerating deterioration of security, the fuel crisis and the political climate, especially in the last two quarters of the fiscal year. The primary, secondary and tertiary sectors produced 101.3, 142.4 and 325.7 billion constant gourdes of value added, down 4.2, 0.2 and 1.6 percent.

Agriculture fell 4.5 percent to 95.0 billion constant gourdes, extractive industries 4.1 percent, electricity 19.3 percent and construction 6.0 percent to 25.6 billion. Manufacturing was among the few branches to grow, by 2.4 percent to 109.3 billion, carried by textiles (9.5 percent) and food manufacturing (10.1 percent). Financial and insurance activities grew 3.6 percent to 20.2 billion.

On the demand side, government final consumption rose 17.6 percent while household consumption fell 1.0 percent and gross fixed capital formation 10.0 percent. Remittances fell 6.6 percent and foreign direct investment 23.2 percent. Inflation reached record levels, 27.6 percent on average and 38.7 percent year on year, and the BRH reference rate averaged 107.1 gourdes to the dollar against 81.1 in 2021.