(2022-03) Economic Activity Indicator (ICAE) Bulletin, Q2 (Jan–Mar) FY2021-2022
Summary — The Global Economic Activity Conjunctural Indicator (ICAE) for Haiti showed a negative growth of 2.0% in the second quarter of the 2021-2022 fiscal year, with a cumulative decline of 0.4% over six months. This downturn is driven by negative performance across all three economic sectors: primary (-6.6%), secondary (-0.8%), and tertiary (-1.1%). Key sectors like agriculture, extractive industries, construction, commerce, and hospitality experienced significant contractions.
Key Findings
- Haiti's Global Economic Activity Conjunctural Indicator (ICAE) declined by 2.0% in Q2 2021-2022, with a cumulative drop of 0.4% for the first two quarters.
- The primary sector experienced a 6.6% annual decrease, driven by a 6.4% fall in agriculture and a 17.9% contraction in extractive industries.
- The secondary sector saw a 0.8% annual decline, with construction down 5.5% and electricity/water production down 8.0%.
- The tertiary sector decreased by 1.1% annually, largely due to a 3.9% drop in commerce and a 5.5% decline in hotels/restaurants.
- Financial institutions and non-market services were among the few sectors showing positive annual growth, at 5.3% and 6.0% respectively.
Full Description
This bulletin from the Haitian Institute of Statistics and Informatics (IHSI) presents the Economic Activity Conjunctural Indicator (ICAE) for the second quarter of the 2021-2022 fiscal year (January-March 2022), with a base year of 2007-2008. The global ICAE registered a negative growth of 2.0% annually, establishing at 131.8, marking a significant decline compared to the 0.9% growth in the same period last year. Cumulatively, for the first two quarters (October-March 2021-2022), the global ICAE decreased by 0.4%.
The report details the performance of the three main economic sectors. The primary sector saw a 6.6% annual decline, primarily due to contractions in agriculture (-6.4%) and extractive industries (-17.9%). The secondary sector experienced a 0.8% annual decrease, with significant drops in construction (-5.5%) and electricity and water production (-8.0%), despite a slight increase in manufacturing (1.0%). The tertiary sector also recorded a 1.1% annual decline, mainly driven by negative trends in commerce (-3.9%) and hotels/restaurants (-5.5%), while financial institutions and non-market services showed positive growth.