Haití: Panorama econòmic

Economic Indicators

Haiti is among the poorest countries in the world. Its economy, essentially based on agriculture, is very vulnerable to climatic hazards. Two-fifths of Haitians depend on the agricultural sector, mainly small-scale subsistence farming. The country is also highly dependent on international aid and remittances from the diaspora. Growth has been further hampered by a persistent political crisis and escalating gang violence, further eroding the already low human capital and institutional capacity, and Haiti has become highly unsafe. Political instability worsened and gang violence escalated after Prime Minister Gary Conille was dismissed by the Transitional Presidential Council in November 2024. His successor, Prime Minister Fils-Aimé, was tasked with restoring security and preparing elections. These developments further weakened investor confidence, contributing to a 4.2% GDP contraction in 2024. Agriculture saw the steepest decline (-5.6%), disproportionately affecting the poor, while industry shrank by 4.7% amid worsening business conditions and textile sector layoffs. Services declined by 3.9%, driven by drops in trade and real estate. GDP is projected to contract by another 2.2% in 2025, with investment and consumption dampened by ongoing insecurity and inflation. A modest recovery is expected in 2026, assuming political and security conditions improve (World Bank data).

In terms of public finances, tax revenues fell from 6.3% of GDP in 2023 to 5.2% in 2024 due to the economic downturn. Nonetheless, reductions in capital spending and non-essential current expenditures helped narrow the fiscal deficit from 2.1% to 0.1% of GDP. Revenue collection is expected to improve gradually with the implementation of a new general tax code, but the fiscal deficit is projected to widen to 1.2% in 2025 due to increased spending on security and elections (World Bank data). On the other hand, public debt stood at 14.6% of GDP as of end-September 2024, the lowest in the Latin America and Caribbean region. This reflects the January 2024 settlement of the Petrocaribe debt, which accounted for roughly 6.5% of GDP. Consumer price inflation dropped from an average of 44.2% in 2023 to 25.8% in 2024. However, food inflation remained high at 34.7%, disproportionately impacting the poor, who allocate a larger share of their income to food. Inflationary pressures are expected to persist in 2025 due to higher pre-election spending and weak agricultural output, but should ease over the medium term as security conditions improve (World Bank data).

The unemployment rate stood at 15.1% as of 2024, up from 14.6% one year earlier (World Bank). Due to supply chain disruptions, fuel shortages, and gang-related violence, the textile industry’s workforce shrank by over 45% between September 2023 and March 2024, dropping to 32,000 employees. Furthermore, the share of Haitians living on less than US$2.15 per day (2017 PPP) is estimated to have risen to 36.2% in 2024, up from 31.1% in 2021. Economic mobility is constrained by a weak labour market, characterised by low-quality, poorly paid jobs, particularly for women. The IMF estimated the country’s GDP per capita (PPP) at only USD 3,033 in 2024.

Source: World Bank - Latest available data.

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Latest Update: October 2025