Thu | Jan 18, 2018

Haiti records 1.4 per cent economic growth in 2016

Published:Wednesday | December 28, 2016 | 12:20 PM

Haiti’s economy grew by more than one per cent in 2016, according to preliminary figures released by the Directorate of Economic Statistics of the Ministry of Finance.

It said the gross domestic product (GDP) grew by 1.4 per cent, well below the target of 3.6 per cent that the authorities had set at the beginning of the fiscal year, October 2015 to September 2016.

The figures show that the agricultural sector, which had plagued the Haitian economy in 2015, was largely responsible for GDP growth in 2016.

According to preliminary estimates based on partial and provisional data provided by the Ministry of Agriculture, the value added at constant prices of the sectors: forestry, livestock and fisheries, increased from HTG 3,131 million gourdes (One Haitian gourde =US$0.014 cents) in 2015 to HTG 3,226 million gourdes in 2016, an increase of three per cent as compared to a 5.4 per cent decline the previous year.

The other sectors that contributed to the growth in 20o16 included manufacturing (I.5 per cent) food industries (four per cent) and the papermaking and printing (3.9 per cent).