Haiti - Balance of payments





Haiti's external trade position worsened from 1991 to 1994 following the imposition of the trade embargo. As all but humanitarian foreign aid was suspended during those years, balance of payments deficits reflected the decline in net capital inflows. Once a constitutional government was returned to power in 1994, however, imports increased, due to high domestic demand. As a result of aid flows and remittances from Haitians living abroad, imports in the 1990s and into the early 2000s grew steadily. Haiti's ability to generate export revenue depends upon a revival of the assembly sector.

The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of Haiti's exports was $326.6 million while imports totaled $977.5 million resulting in a trade deficit of $650.9 million.

The International Monetary Fund (IMF) reports that in 1998 Haiti had exports of goods totaling $299 million and imports totaling $641 million. The services credit totaled $180 million and debit $381 million. The following table summarizes Haiti's balance of payments as reported by the IMF for 1998 in millions of US dollars.

Haiti

Current Account -38
Balance on goods -341
Balance on services -201
Balance on income -12
Current transfers 516
Capital Account
Financial Account 193
Direct investment abroad
Direct investment in Haiti 11
Portfolio investment assets
Portfolio investment liabilities
Other investment assets 87
Other investment liabilities 96
Net Errors and Omissions -121
Reserves and Related Items -35

User Contributions:

Comment about this article, ask questions, or add new information about this topic:

CAPTCHA


Haiti forum