Economics

Haiti has one of the poorest economies in the Western Hemisphere, with a GDP per capita of only $3,000. The Dominican Republic's GDP per capita is $10,300, and Jamaica's is $29,300, showing the economic gap in the Caribbean. Haiti also suffers from high-income inequality, with the richest 20% of the population controlling over 64% of the country's wealth and the poorest 20% controlling less than 1%. Haitians mostly use subsistence agriculture or labor in the informal economy to survive. Haiti exports crucial commodities like food, manufactured items, machines, fuels, and raw materials, as production in the country cannot keep up with demand. The major exports of Haiti are clothing, cocoa, coffee, mangoes, oils, and other manufactured products. The United States is Haiti’s most important trading partner, receiving 80.6% of its exports and supplying 20.7% of its imports. Other trade partners include the Dominican Republic, China, the Netherlands Antilles, and Indonesia. Despite ongoing economic struggles, Haiti’s trade relationships and agricultural exports remain crucial for its financial stability. Continued development and investment could help improve Haiti’s economy and provide more opportunities for its people.