(2023-06) Economic Activity Indicator (ICAE) Bulletin, Q3 (Apr–Jun) FY2022-2023
Summary — Haiti's global Economic Activity Conjunctural Indicator (ICAE) declined by 0.3% annually in the third quarter of fiscal year 2022-2023, reaching 128.6. This drop is primarily due to contractions in the primary and secondary sectors, despite a modest rise in the tertiary sector. Cumulatively, the ICAE saw a 2.1% decrease over the first nine months of the fiscal year.
Key Findings
- Global ICAE decreased by 0.3% annually in Q3 2022-2023, reaching 128.6.
- Primary sector ICAE fell by 5.2% annually, driven by declines in agriculture and extractive activities.
- Secondary sector ICAE contracted by 1.9% annually, with manufacturing down 1.4% and construction down 4.1%.
- Tertiary sector ICAE grew by 1.7% annually, with positive contributions from Commerce, Transports and Communications, and Financial Institutions.
- Cumulatively, the global ICAE decreased by 2.1% over the first nine months of the fiscal year 2022-2023.
Full Description
Haiti's global Economic Activity Conjunctural Indicator (ICAE) experienced an annual decline of 0.3% in the third quarter of the 2022-2023 fiscal year, reaching 128.6, down from 129.1 in the same period last year. This overall negative trend is attributed to differentiated performance across major economic sectors. Both the primary and secondary sectors regressed, with the primary sector falling by 5.2% annually due to poor agricultural output and reduced extractive activities, and the secondary sector contracting by 1.9% annually, mainly from manufacturing and construction downturns. In contrast, the tertiary sector recorded a modest annual increase of 1.7%.
Over the cumulative nine-month period of the fiscal year (October 2022 to June 2023), the global ICAE decreased by 2.1%. While some tertiary sub-sectors like Commerce, Transport and Communications, Financial Institutions, and Non-Market Services showed positive annual growth in the third quarter, these gains were not enough to counteract the significant declines in other critical areas, particularly agriculture, manufacturing, and construction, leading to a general contraction in Haiti's economic activity.