(2020-09) Economic Activity Indicator (ICAE) Bulletin, Q4 (Jul–Sep) FY2019-2020
Summary — Haiti's Global Economic Activity Conjunctural Indicator (ICAE) declined by 2.0% in the fourth quarter of the 2019-2020 fiscal year, with a cumulative regression of 4.2% for the entire year. This downturn was primarily driven by negative performances in the primary and secondary sectors. The tertiary sector, however, showed a slight positive growth in the fourth quarter, though its cumulative annual performance remained negative.
Key Findings
- Haiti's Global Economic Activity Conjunctural Indicator (ICAE) declined by 2.0% in Q4 2019-2020, leading to a cumulative regression of 4.2% for the entire fiscal year.
- The Primary sector experienced a significant 5.2% drop in Q4, driven by a 5.1% decrease in agriculture and an 8.7% fall in extractive industries.
- The Secondary sector contracted by 6.2% in Q4, with manufacturing down 4.0%, construction down 8.8%, and electricity and water plummeting by 37.8%.
- Despite overall economic challenges, the Tertiary sector showed a modest 0.4% growth in Q4, buoyed by strong performances in financial intermediation (7.1%) and non-market services (11.6%).
- Financial intermediation activities recorded a 7.1% increase in Q4 and a cumulative 4.8% growth for the fiscal year, making it one of the few sectors with positive cumulative growth.
Full Description
The Haitian economy, as measured by the Global Economic Activity Conjunctural Indicator (ICAE), experienced a significant slowdown in the fourth quarter of the 2019-2020 fiscal year, registering a negative growth of 2.0% to reach 135.7. Cumulatively, for the entire fiscal year spanning from October to September, the ICAE Global regressed by 4.2%. This overall contraction was a result of negative evolutions across all three major economic sectors, although the impact varied.
The primary sector saw a 5.2% decline in Q4, primarily due to decreases in agriculture (-5.1%) and extractive industries (-8.7%). The secondary sector also contracted significantly by 6.2% in Q4, with manufacturing (-4.0%), construction (-8.8%), and electricity and water (-37.8%) being major contributors to this downturn. In contrast, the tertiary sector demonstrated a modest annual growth of 0.4% in Q4, supported by positive performances in financial intermediation (7.1%), transport and communications (3.6%), and non-market services (11.6%). Despite these positive sub-sector trends, the cumulative performance for the tertiary sector over the fiscal year still showed a 2.6% decrease, indicating broader challenges.