(2024) Haiti Macro Poverty Outlook - Datasheet
Summary — Statistical datasheet accompanying the Spring 2024 World Bank Macro Poverty Outlook for Haiti: the full projection table of macroeconomic and poverty indicators.
Key Findings
- Fourth consecutive year of negative growth: real GDP fell 1.9 percent (market prices) in FY23 and is projected at -1.8 percent in FY24, with agriculture (over 40 percent of the labor force) contracting 5.6 percent.
- The textile sector, the largest formal private employer, lost about 26,000 of its 56,000 jobs as two large operations closed, driving workers into poverty.
- The $3.65-per-day poverty rate reached an estimated 63 percent in FY23 and is projected above 64 percent in FY24 as per-capita GDP falls 3.0 percent.
- Inflation was 44.2 percent in FY23 and is projected to ease to 27 percent in FY24 and 20 percent in FY25 as monetary policy tightens.
- The fiscal deficit narrowed to 2.3 percent of GDP in FY23 (from 3.2 percent in FY22) and is projected at 1.4 percent in FY24, but BRH monetary financing still exceeded statutory limits.
- Remittances stayed strong at 18.9 percent of GDP while the current account deficit widened to 3.4 percent of GDP and the gourde depreciated 13.7 percent.
Full Description
The statistical annex to the Spring 2024 edition of the World Bank Macro Poverty Outlook for Haiti. It presents the complete data table underlying the country brief: historical values and projections for real GDP growth, inflation, the fiscal balance and revenues, public debt, the current account, and poverty headcount rates at the international, lower-middle-income, and upper-middle-income lines, reported by fiscal year.
Full Document Text
Extracted text from the original document for search indexing.
SELECTED INDICATORS* Avg. '10-192014/152015/162016/172017/182018/19 2019/202020/21 2021/22 2022/23 E 2023/24 F
INCOME AND ECONOMIC GROWTH
GDP growth (annual %) 1.3 1.4 1.8 2.5 1.7 -1.7 -3.3 -1.8 -1.7 -1.9 -1.8
GDP per capita growth (annual %, real) -0.1 0.0 0.4 1.1 0.3 -3.0 -4.5 -3.0 -2.8 -3.0 -3.0
GDP per capita (US$, nominal) 1369.8 1404.1 1311.2 1386.8 1485.4 1330.5 1369.4 1829.6 1745.9 1694.1 2059.3
Private Consumption growth (annual %) 2.2 4.5 5.6 5.0 4.1 -1.0 -4.0 1.2 -0.7 0.1 0.0
Gross Investment ( % of nominal GDP) 17.7 14.0 13.6 16.9 16.1 18.7 21.3 18.0 15.9 13.9 3.4
Gross Investment - Public ( % of nominal GDP) 7.7 5.9 3.5 3.3 3.5 1.5 2.1 1.7 1.7 1.4 2.0
MONEY AND PRICES
Inflation, consumer prices (annual %, EOP or MRV)¹ 8.8 8.4 10.7 10.9 13.3 19.7 .. .. .. .. ..
Inflation, consumer prices (annual %, period average) 7.8 5.3 11.4 10.6 11.4 17.3 22.9 15.9 27.6 44.2 27.1
Nominal Base Money (% of GDP) 16.4 16.5 16.8 16.1 17.3 17.2 15.1 18.9 23.5 24.4 23.2
Domestic Credit to the Private Sector ( % of GDP)
2
10.2 10.8 10.5 9.8 11.2 10.4 8.6 8.3 8.2 .. ..
10 year interest rate (annual average)¹ .. .. .. .. .. .. .. .. .. .. ..
Nominal Exchange Rate (local currency per USD) 53.4 48.6 60.4 65.6 65.4 84.1 99.9 81.1 107.2 140.9 131.5
Real Exchange Rate Index (2015=100) 96.6 100.0 89.5 88.6 94.2 84.1 84.3 115.3 106.8 102.1 126.5
FISCAL
Revenue (% of GDP) 12.9 11.4 10.8 10.4 10.0 7.5 7.0 6.9 6.6 8.0 8.0
Expenditure (% of GDP) 15.6 14.2 11.3 10.9 12.1 9.5 9.8 9.4 9.8 10.3 9.4
Interest Payments (% of GDP) 0.2 0.1 0.2 0.2 0.2 0.3 0.2 0.3 0.3 0.3 0.3
Non-Interest Expenditure (% of GDP) 15.4 14.0 11.1 10.7 12.0 9.2 9.6 9.1 9.5 10.0 9.1
Overall Fiscal Balance (% of GDP) -2.7 -2.7 -0.5 -0.5 -2.2 -2.0 -2.8 -2.5 -3.2 -2.3 -1.4
Primary Fiscal Balance (% of GDP) -2.5 -2.6 -0.3 -0.3 -2.0 -1.7 -2.6 -2.2 -2.9 -2.0 -1.1
General Government Debt (% of GDP) 16.2 17.8 21.3 19.9 23.6 26.1 22.0 28.4 27.6 30.2 30.0
External Public Debt (% of GDP) 11.3 14.3 14.3 14.1 13.0 15.7 9.5 12.9 12.3 13.5 20.4
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EXTERNAL ACCOUNTS
Export growth, G&S (nominal US$, annual %) 5.7 5.2 -5.9 1.2 6.9 -2.6 -41.2 24.9 6.6 -28.5 -7.3
Import growth, G&S (nominal US$, annual %) 6.7 -5.5 -5.0 13.1 12.3 -10.8 -14.0 21.5 8.0 -14.5 -6.3
Merchandise exports (% of GDP) 6.4 6.9 7.2 6.6 6.6 8.1 5.7 5.4 6.2 4.8 2.9
Merchandise imports (% of GDP) 25.1 23.3 25.3 26.3 28.1 28.4 23.8 21.1 23.5 23.7 18.4
Services, net (% of GDP) -2.6 -2.1 -0.5 -1.3 -0.7 -0.6 -2.2 -2.3 -2.9 0.3 1.3
Current account balance (current US$ millions) -341.1 -265.3 -237.9 -324.9 -474.1 -168.6 74.0 87.7 -492.0 -672.7 -889.0
Current account balance (% of GDP) -2.3 -1.8 -1.7 -2.2 -2.9 -1.1 0.5 0.4 -2.4 -3.4 -3.6
Foreign Direct Investment, net inflows (% of GDP) 1.0 0.7 0.7 2.5 0.6 0.5 0.2 0.2 0.2 0.1 0.2
Multilateral debt (% of total external debt)
2
.. .. .. .. .. .. .. .. .. .. ..
HAITI
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SELECTED INDICATORS* Avg. '10-192014/152015/162016/172017/182018/19 2019/202020/21 2021/22 2022/23 E 2023/24 F
HAITI
POPULATION, EMPLOYMENT AND POVERTY
Population, total (millions) 10.5 10.6 10.7 10.9 11.0 11.2 11.3 11.4 11.6 11.7 11.9
Population Growth (annual %) 1.4 1.5 1.4 1.4 1.4 1.3 1.3 1.2 1.2 1.2 1.2
Unemployment Rate 15.5 15.4 15.7 15.8 16.2 16.3 18.4 18.3 17.8 19.0 19.0
International poverty rate ($2.15 in 2017 PPP)
³
29.2 .. .. .. .. .. 29.9 31.3 32.3 34.2 35.3
Lower middle-income poverty rate ($3.65 in 2017 PPP)
³
58.0 .. .. .. .. .. 58.9 60.1 61.6 62.8 64.4
Upper middle-income poverty rate ($6.85 in 2017 PPP)
³
85.8 .. .. .. .. .. 86.4 87.5 88.0 88.6 89.1
OTHER
GDP (current LCU, millions) 776979.8720255.0848104.9988912.41070166.11249214.01547377.81699208.62168222.9 2798322.0 3213645.2
GDP (current US$, millions) 14383.414832.314048.415065.716358.414848.6 15483.1 20944.4 20226.0 19863.2 24438.4
GDP per capita LCU (real) 57992.258727.958954.659601.859776.757967.5 55348.5 53662.8 52134.4 50552.7 49057.6
Human Development Index Ranking
⁴
158.3 157 156 157 158 159 158 158 158 .. ..
CPIA (overall rating)
2
2.9 2.9 2.9 2.9 2.8 2.8 2.7 2.6 2.5 .. ..
Economic Management
2
3.3 3.5 3.3 3.5 3.0 3.0 3.0 3.0 2.8 .. ..
Structural Policies
2
3.1 3.0 3.2 3.0 3.0 3.2 3.0 3.0 2.8 .. ..
Policies for Social Inclusion and Equity
2
2.6 2.7 2.6 2.6 2.6 2.6 2.6 2.5 2.4 .. ..
Public Sector Management and Institutions
2
2.4 2.4 2.4 2.4 2.5 2.3 2.2 2.0 2.0 .. ..
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Notes: ".." indicates not available. E = estimate, F = forecast. Data from MFMOD unless otherwise noted. Poverty data are expressed in 2017 PPP, versus 2011 PPP in previous editions - resulting in major changes. See pip.worldbank.org
1/ World Bank GEM database; MRV = Most recent value.
2/ World Development Indicators Database and World Bank Staff Estimates.
3/ Calculations based on 2012-ECVMAS.Projection using neutral distribution (2012) with pass-through = 0.87 (Med (0.87)) based on GDP per capita in constant LCU. Actual data: 2012. Nowcast: 2013-2023. Forecasts are from 2024 to 2026.
4/ The HDI ranking in 2001 is in relation to 175 countries and in 2010 in relation to 169 countries. Methodological enhancements in HDI calculations have resulted in notable improvements in the countries' rankings.
Sources: MFMOD Database, World Bank WDI and GEM databases, IMF.