(2021-12) Economic Activity Indicator (ICAE) Bulletin, Q1 (Oct–Dec) FY2021-2022
Summary — Haiti's Global Economic Activity Conjunctural Indicator (ICAE) increased by 1.2% in the first quarter of fiscal year 2021-2022 (October-December 2021). This growth was driven by the secondary and tertiary sectors, which saw increases of 0.7% and 2.6% respectively, while the primary sector contracted by 5.0%. The decline in the primary sector was notably influenced by a 5.0% drop in agriculture, partly due to the August 14 earthquake's impact on cultivated areas in the Grand Sud.
Key Findings
- Haiti's Global Economic Activity Conjunctural Indicator (ICAE) increased by 1.2% in Q1 2021-2022, reaching 134.0.
- The primary sector contracted by 5.0%, with agriculture declining by 5.0% and extractive industries by 5.4%.
- Agricultural decline was partly due to reduced cultivated areas in the Grand Sud following the August 14 earthquake.
- The secondary sector grew slightly by 0.7%, driven by a 4.0% increase in manufacturing, despite an 8.4% drop in construction.
- The tertiary sector was the main growth driver, expanding by 2.6%, with financial institutions growing by 5.1% and transport/communications by 3.6%.
Full Description
This report from the Haitian Institute of Statistics and Informatics (IHSI) presents the Economic Activity Conjunctural Indicator (ICAE) for the first quarter of the 2021-2022 fiscal year (October-December 2021), using a 2007-2008 base. The global ICAE reached 134.0, marking a 1.2% annual increase compared to the previous year's first quarter. This overall growth masks differentiated performances across economic sectors.
The primary sector experienced a negative growth of 5.0%, with agriculture and extractive industries declining by 5.0% and 5.4% respectively. The agricultural downturn is partly attributed to reduced cultivated areas in the Grand Sud following the August 14 earthquake and delays in support programs for farmers. In contrast, the secondary sector saw a slight increase of 0.7%, driven by a 4.0% rise in manufacturing, despite an 8.4% contraction in construction and a 13.0% decrease in electricity and water production. The tertiary sector was the main contributor to global ICAE growth, expanding by 2.6% annually, with all its sub-branches, including commerce, financial institutions, transport, and non-market services, showing positive trends.