News

Haiti’s GDP to Grow 6 Percent, Continue to Lead Region in 2012: ECLAC

By: Caribbean Journal Staff - October 4, 2012

Above: construction work on Wharf Jeremy in Haiti’s Port-au-Prince (UN Photo/Logan Abassi)

By the Caribbean Journal staff

Haiti’s economy is projected to grow 6 percent in 2012, followed by 7.5 percent GDP growth in 2013, according to the Economic Survey of Latin America and the Caribbean released this week by the UN Economic Commission for Latin America and the Caribbean.

The numbers follow reported growth of 5.6 percent in Haiti in 2011, and a 5.4 percent contraction in 2010 due to the earthquake.

The growth rates are slightly below projections by the International Monetary Fund, which had pegged Haiti’s 2012 growth closer to 8 percent, but remain the highest projected growth rates in the Caribbean.

Haiti maintained its 6 percent projection this year, despite a reduction in projected growth for the Latin American and Caribbean region from 3.7 percent in June to 3.2 percent in this week’s report.

“The economic performance of Latin America and the Caribbean in 2012 and 2013 is largely subject to the form taken by adjustment processes in developed countries, as well as the slowdown in China,” said Alicia Barcena, executive secretary of ECLAC. “It will also be dependent on the region’s own response capacity.”

In the wider Caribbean basin, Panama will have the largest growth rate, at 9.5 percent this year.

Haiti’s growth remains the highest in the Caribbean region, followed by Guyana, which is projected to grow at a rate of 3.8 percent this year.

The Caribbean region as a whole is projected to grow 1.6 percent in 2012, followed by 2.2 percent in 2013.

ECLAC said the English and Dutch-speaking countries of the Caribbean were in a “different position” from the rest of the region, recovering more slowly from the 2009 financial crisis.

It singled out Suriname and Guyana as having stronger economies due to their dependence on natural resources, as opposed to tourism.

See below for the full Caribbean GDP data table:

Popular Posts w punta cana

A New All-Inclusive W Hotel Is Opening This Year in Punta Cana 

The first-ever all-inclusive W Hotel in the Caribbean is opening this year in Punta Cana, Dominican Republic, Caribbean Journal has learned.  The hotel, part of a broad expansion for parent company Marriott International, is on the list of expected 2024 […]


Why Grenada Is a New Caribbean Luxury Hotspot

beach house silversands

From its world-renowned chocolate to its pristine beaches to a region-leading focus on sustainability, Grenada is as fascinating and unique as destination as you’ll find in the Caribbean.  But in the last few years, the lush Eastern Caribberan island has […]


5 Adults-Only Resorts to Visit Right Now in the Caribbean 

galley bay

Sometimes you just want that extra degree of serenity, of privacy, of seclusion. There is a reason, after all, that adults-only resorts are booming in popularity, particularly in the Caribbean: travelers want to know that when they arrive, they know […]


Related Posts funicular

This Luxury Hotel Has the Caribbean’s Longest Funicular 

It’s long been one of the Caribbean’s premier luxury resorts: Secret Bay, the sought-after boutique villa hotel in the north of Dominica.  But now Secret Bay has another major new addition: the longest funicular in the Caribbean.  The new funicular, […]


The 25 Best Caribbean Beach Bars for 2024

carbet beach

What is the first thing you want to do after you land at an airport in the Caribbean? For many, it’s a pretty simple answer. Make your way, by car or boat, to your sandy chair, cocktail in hand, at […]


The 25 Best Beaches in the Caribbean to Visit in 2024

caribbean beaches caribbean beaches by boat

Let’s be frank. The best beach in the Caribbean is the one you’re on right now. That means choosing our favorite beaches in the Caribbean each year is an almost impossible task — and one that, we admit, is completely […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You