Haiti
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 1993 , pp 263-275
- Publication Date: December 1994
- DOI: https://doi.org/10.18356/07f5888c-en
- Language: English
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.
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