Haiti

Haiti’s economic and social situation worsened considerably in 1993, against a backdrop of violent political conflict which in the past two years has led to a serious institutional crisis, the weakening of the formal economy, the suspension of external financing and a substantial decrease in trade with other countries. The real gross domestic product (GDP) fell by more than 4% after decreasing by 8% in 1992. Meanwhile, per capita output suffered another setback (-5%), although a less severe one than in the previous year (-10%). Such shrinkages may have been mitigated by the growth of the informal economic sector, although the magnitude of that sector cannot be assessed accurately. It is estimated that the unemployment rate rose to over 70%, while the inflation rate (40% over the calendar year) nearly doubled as compared with 1992.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions