(2023-12) Economic Activity Indicator (ICAE) Bulletin, Q1 (Oct–Dec) FY2023-2024

Institut Haïtien de Statistique et d'Informatique (IHSI) • 2023 • 4 pages

Summary — The global Economic Activity Conjunctural Indicator (ICAE) for Haiti decreased by 3.8% in the first quarter of fiscal year 2023-2024 (Oct-Dec 2023) compared to the previous year. This decline is attributed to contractions across all three major economic sectors: primary, secondary, and tertiary. The report highlights negative trends in agriculture, extractive activities, manufacturing, construction, and electricity and water.

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Key Findings

The global ICAE contracted by 3.8% in Q1 FY 2023-2024, reaching 124.2, driven by declines across all three major economic sectors.
The primary sector experienced a 6.4% regression, primarily due to a 6.4% drop in agriculture (linked to rainfall deficit and insecurity) and an 8.4% decline in extractive activities.
The secondary sector decreased by 4.6%, with significant contractions in electricity and water (-14.9%), construction (-6.0%), and manufacturing (-3.9%).
The tertiary sector saw a 3.1% reduction, with only financial institutions showing positive growth (2.7%), while other sub-sectors like commerce (-3.7%) and hotels/restaurants (-6.6%) declined.
Insecurity and rainfall deficit are identified as key negative factors impacting agricultural and transport/communication sectors.

Full Description

This quarterly bulletin from the Haitian Institute of Statistics and Informatics (IHSI) presents the Economic Activity Conjunctural Indicator (ICAE) for the first quarter of the 2023-2024 fiscal year (October-December 2023), based on 2007-2008. The global ICAE registered a 3.8% year-on-year contraction, reaching 124.2 compared to 129.1 in the previous fiscal year's first quarter. This overall decline is a result of combined decreases across the primary, secondary, and tertiary sectors. The primary sector saw a 6.4% regression due to poor rainfall and insecurity affecting agriculture, alongside continued decline in extractive activities. The secondary sector contracted by 4.6%, with significant drops in electricity and water (-14.9%), construction (-6.0%), and manufacturing (-3.9%). The tertiary sector also experienced a 3.1% decrease, with only financial institutions showing positive growth (2.7%), while commerce, hotels/restaurants, transport/communications, and non-market services all declined, often exacerbated by the prevailing security crisis.

Topics

Geography

Time Coverage

2022 — 2023

Keywords

Economic Activity Conjunctural Indicator, ICAE, Haitian economy, economic performance, GDP, primary sector, secondary sector, tertiary sector, agriculture, manufacturing, construction, financial sector, economic activity, IHSI, series:ihsi-icae

Entities

Institut Haïtien de Statistique et d'Informatique (IHSI), Ministère de l'Économie et des Finances (MEF)