The Economic Accounts in 2023

The Haitian Institute of Statistics and Informatics' annual analysis of the national accounts for fiscal year 2023, issued by the Directorate of Economic Statistics in December 2023 and running to 27 pages.

GDP at constant prices fell 1.9 percent to 592.7 billion gourdes, against 604.0 billion in 2022, a fifth consecutive year of recession. The primary, secondary and tertiary sectors contracted 5.6, 3.7 and 2.9 percent. The institute names the spread of armed gangs across the metropolitan area and along the national roads out of the capital, the persistence of political instability and the absence of constitutional institutions, and the extortion of businesses under a deteriorating business climate.

Agriculture fell 5.6 percent to 89.7 billion constant gourdes and manufacturing 2.6 percent to 106.4 billion, with textiles, clothing and leather down 6.9 percent. Construction fell 6.9 percent. Final consumption rose, supported by remittances of 3.8 billion dollars, down 1.2 percent, and by government social programs, while investment and exports fell. Global supply fell 1.4 percent to 840.9 billion constant gourdes and imports 0.4 percent to 248.1 billion.

Inflation averaged 44.1 percent and ended the year at 31.8 percent year on year, against 27.6 and 38.7 percent in 2022, driven mostly by domestic factors, including toll posts set up by armed groups on the main roads. The BRH reference rate eased from 153.3 gourdes to the dollar in April to 134.7 in September.