According to the latest report, "Economic Conditions: Main indicators of real sector", published by the Department of Economic Statistics of the Haitian Institute of Statistics and Informatics (IHSI), the performance of the economy of Haiti, yoy to the 3rd quarter of fiscal year 2012-2013 (April-June 2013), are increases compared to the third quarter of fiscal year 2011-2012.

Industry :

Significant increase of +9.0% in the index of industrial production YoY and relatively moderate increase of +3.5% over the previous quarter. These quarterly increase result of a contrasting trend of different industries. The manufacture of food products, textiles, non-metallic mineral products and metal items are rose by +9.3%, +11.7%, +4.3% and +1.5%. By cons, wood products, publishing and printing (-5.2%) and chemical products manufacturing (-7.2%) have rather fallen.

Energy :

Decline in the index of production of electrical energy -1.1% yoy but an increase of +5.7% compared to the previous quarter. The quarterly change was due mainly to the good performance of hydroelectric generation that grew +40.4%, while the thermal energy has increased by only +3.8%. Consumption billed, for its part, reflected a rising trend (+8.6%) compared to last quarter.

Construction :

Marked increase of +13.8% in the index of construction activity yoy and +4.1% compared to last quarter. This quarterly increase observed is consistent with the increase in the number of registered new building and the increase in the quantity of imported building materials such as wood, wood products and cement. Increased 12.5% in the Index of the number of employees (INSC) operating in the construction of buildings and housing.

Internal trade :

+14.0% Increase in the index of the commercial activity year on year and 3.5% over the previous quarter. This quarterly growth in nominal terms, is supported particularly by the retail sale of food, beverages and tobacco (+10.2%), vehicles (+2.8%), other consumer goods (+4.5%) and hardware (+6.4%). While other sub-branches rather trended downward.

Consumer Prices :

Increase of +7.0% in the index of consumer prices yoy and 1.2% from the previous quarter. That quarterly increase in the general level of prices is due to the behavior on the rise of all expenditure items, the most important are: Power (+1.6%), clothing (+1.2%), furniture (+1.1%), Transport (+0.75%), housing (+0.7%) . The price index of agricultural products, on the other hand, grew by +11.8% yoy and +2.5% compared to last quarter.

International trade :

Net increase in the index of the total value of imports +26.9% yoy and +4.3% compared to the previous quarter. Meanwhile, prices of imported items showed a differentiated trend : contraction of -0.4% yoy and slightly up +0.3% compared to last quarter, which led to a substantial increase in the quantum of +27.4% yoy and +4.0% compared to the previous quarter.

Note that the growth rate of 3.5% of Gross Domestic Product (GDP) for the fiscal year 2012-2013, estimated by the Haitian authorities and the International Monetary Fund (IMF) could be exceeded this year, given the latest data published by the IHSI and good performance of agriculture recently announced by the Ministry of Agriculture and the National Coordination of Food Security.

HL/ HaitiLibre