(2021-06) Economic Activity Indicator (ICAE) Bulletin, Q3 (Apr–Jun) FY2020-2021
Summary — This report from IHSI analyzes Haiti's Conjunctural Economic Activity Indicator (ICAE) for the third quarter of the 2020-2021 fiscal year (April-June). The global ICAE decreased by 2.9% annually, primarily due to declines in the secondary and tertiary sectors. While the primary sector showed positive growth, key sectors like construction, commerce, and hospitality experienced significant downturns.
Key Findings
- The global ICAE decreased by 2.9% annually in Q3 2020-2021, primarily due to secondary and tertiary sector declines.
- The primary sector showed positive annual growth of 2.0%, driven by agriculture, despite a sharp 17.4% drop in extractive activities.
- Construction experienced a significant annual fall of 7.4%, contributing to the secondary sector's 1.3% contraction.
- The tertiary sector declined by 4.9% annually, heavily impacted by commerce (-6.4%), transport (-5.7%), and hospitality (-9.3%).
- Financial institutions and non-market services demonstrated positive annual growth of 4.5% and 5.1% respectively.
Full Description
This quarterly bulletin from the Haitian Institute of Statistics and Informatics (IHSI) provides a detailed analysis of Haiti's Conjunctural Economic Activity Indicator (ICAE) for the third quarter (April-June) of the 2020-2021 fiscal year, using 2007-2008 as the base year. The global ICAE recorded an annual decrease of 2.9%, reaching 132.1, with a cumulative decline of 0.3% for October 2020 to June 2021. This overall downturn is attributed to the negative performance of the secondary and tertiary sectors, despite a positive trend in the primary sector.
The primary sector saw a 2.0% annual growth, driven by a good agricultural season, though extractive activities experienced a sharp 17.4% decline. The secondary sector contracted by 1.3% annually, with construction falling by 7.4% and electricity/water by 3.5%, while manufacturing showed a modest 0.8% increase. The tertiary sector also declined by 4.9% annually, heavily impacted by significant drops in commerce (-6.4%), transport and communications (-5.7%), and restaurant/hotel services (-9.3%). Financial institutions and other market/non-market services, however, demonstrated positive growth.