(2023-09) Economic Activity Indicator (ICAE) Bulletin, Q4 (Jul–Sep) FY2022-2023
Summary — Haiti's Global Conjonctural Economic Activity Indicator (ICAE) declined by 4.2% in the fourth quarter of the 2022-2023 fiscal year, marking the steepest drop for the period. Cumulatively, the ICAE global regressed by 2.5% from October to September 2023. All three major economic sectors (primary, secondary, and tertiary) experienced negative growth during this quarter.
Key Findings
- Haiti's global ICAE declined by 4.2% in Q4 2022-2023, the steepest drop for the fiscal year.
- All three major economic sectors (primary, secondary, tertiary) experienced negative growth.
- The primary sector saw a 5.5% decrease, driven by agriculture and extractive industries.
- The secondary sector declined by 6.2%, with significant drops in manufacturing, construction, and electricity/water.
- Financial institutions were the only sector to show positive growth, with an annual increase of 1.8%.
Full Description
This bulletin from the Haitian Institute of Statistics and Informatics (IHSI) presents the Conjonctural Economic Activity Indicator (ICAE) for the fourth quarter of the 2022-2023 fiscal year, with a base of 100 in 2007-2008. The global ICAE stood at 113.3, showing a negative growth of 4.2% compared to the same period last year, which is the largest decline recorded for the fiscal year. Cumulatively, the global ICAE decreased by 2.5% from October to September 2023.
The primary sector saw a 5.5% decline, driven by agriculture (-5.5%) and extractive industries (-6.7%). The secondary sector fell by 6.2%, with manufacturing down 5.9%, construction down 6.4%, and electricity and water experiencing a significant 14.9% drop. The tertiary sector also contracted by 3.1%, with commerce (-5.2%), hotels and restaurants (-6.2%), and other market services (-6.2%) contributing to the decline. Financial institutions were the only branch to show positive growth, increasing by 1.8% annually and 2.4% cumulatively.