(2024-03) Economic Activity Indicator (ICAE) Bulletin, Q2 (Jan–Mar) FY2023-2024
Summary — This report from IHSI analyzes Haiti's Conjonctural Economic Activity Indicator (ICAE) for the second quarter of fiscal year 2023-2024 (January-March). The global ICAE decreased by 4.1% annually, reaching 123.7, due to declines across all three major economic sectors. Cumulatively, the global ICAE regressed by 4.0% for the first semester (October-March 2024).
Key Findings
- The global ICAE decreased by 4.1% annually in Q2 2023-2024, reaching 123.7, and by 4.0% cumulatively for the first semester.
- The Primary sector's ICAE contracted by 6.7% annually, with agriculture and extractive activities declining by 6.7% and 7.7% respectively.
- The Secondary sector experienced a 5.8% annual decrease, driven by manufacturing (-5.1%), construction (-7.9%), and electricity/water (-7.7%).
- The Tertiary sector saw a 2.9% annual decline, with commerce (-5.2%), hotels/restaurants (-5.8%), and non-market services (-5.2%) being major contributors.
- Financial institutions showed positive growth of 2.2% annually, and transport/communications grew by 0.4% annually, contrasting with other sectors.
Full Description
The Haitian Institute of Statistics and Informatics (IHSI) presents its Conjonctural Economic Activity Indicator (ICAE) for the second quarter of the 2023-2024 fiscal year, covering the period from January to March. The global ICAE experienced a significant annual decline of 4.1%, falling to 123.7, compared to 124.2 in the same period last year. This negative performance is attributed to a downturn across all three primary economic sectors: Primary, Secondary, and Tertiary. Cumulatively, for the first semester (October 2023 to March 2024), the global ICAE registered a 4.0% regression.
The Primary sector's ICAE contracted by 6.7% annually, driven by agriculture and extractive industries. The Secondary sector saw a 5.8% annual decrease, with manufacturing, construction, and electricity/water all declining. The Tertiary sector also experienced a 2.9% annual drop, primarily due to decreases in commerce, hotels/restaurants, and non-market services, despite slight growth in financial institutions and transport/communications.