(2024-09) Economic Activity Indicator (ICAE) Bulletin, Q4 (Jul–Sep) FY2023-2024
Summary — Haiti's global Economic Activity Conjunctural Indicator (ICAE) declined by 6.0% in the fourth quarter of fiscal year 2023-2024 compared to the previous year, marking the strongest contraction for the period. This negative trend is due to declines across all three economic sectors: primary, secondary, and tertiary. Cumulatively, the ICAE for fiscal year 2024 regressed by 4.2%.
Key Findings
- Global ICAE declined by 6.0% in Q4 2023-2024, the strongest contraction of the fiscal year, with a cumulative regression of 4.2% for FY2024.
- The primary sector decreased by 5.4% annually, driven by agriculture (-5.4%) and extractive industries (-8.1%).
- The secondary sector contracted by 6.5% annually, with manufacturing down 6.0% and construction down 9.0%.
- The tertiary sector also saw a 6.0% annual decline, with commerce (-11.8%) and hotels/restaurants (-9.6%) being major contributors.
- Financial institutions (1.9%) and non-market services (8.0%) showed positive annual growth, providing some counter-balance to the overall decline.
Full Description
This quarterly bulletin from the Haitian Institute of Statistics and Informatics (IHSI) presents the Economic Activity Conjunctural Indicator (ICAE) for the fourth quarter of fiscal year 2023-2024, using a 2007-2008 base. The global ICAE registered a significant annual decline of 6.0%, reaching 106.5, which is the most severe contraction observed during the fiscal year. Cumulatively, the ICAE for the entire fiscal year 2024 decreased by 4.2%.
The report details negative performance across all major sectors. The primary sector saw a 5.4% annual drop, driven by declines in agriculture (-5.4%) and extractive industries (-8.1%). The secondary sector contracted by 6.5% annually, with manufacturing down 6.0% and construction down 9.0%, although electricity and water saw a 2.3% increase. The tertiary sector also experienced a 6.0% annual decline, with commerce (-11.8%), hotels and restaurants (-9.6%), and transport and communications (-4.2%) all showing significant decreases, while financial institutions and non-market services showed slight growth.