Haiti - Economy : Agriculture falls by -2.5% in the 3rd quarter - HaitiLibre.com : Haiti news 7/7
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Haiti - Economy : Agriculture falls by -2.5% in the 3rd quarter
18/10/2018 09:51:49

Haiti - Economy : Agriculture falls by -2.5% in the 3rd quarter
The Global Index of the Economic Indicator of Economic Activity (ICAE) of the Haitian Institute of Statistics and Informatics (IHSI), which allows to follow in the very short term the evolution of the real sector of the economy, reached 150.8 in the third quarter of the 2017-2018 fiscal year (April - June 2018), compared to 148.1 compared to the third quarter last year, recording a year-on-year growth of 1.8%. This positive development of the ICAE results from the differentiated evolution of the three main sectors of the economy. The primary sector declined while the secondary and tertiary sectors showed an upward trend.

Primary Sector Analysis :
The Primary Sector's CIAE posted negative annual growth of 2.3% in the third quarter of the 2017-2018 fiscal year, compared to an increase of 3.9% in the 3rd quarter of fiscal year 2016-2017. This negative trend is mainly related to the fall of the agricultural branch (-2.5%). The cumulative growth for the first 3 fiscal quarters (October 2017 to June 2018) is 1.2%.

After an increase in the Agriculture Division's ICAE in the first two quarters of fiscal year 2017-2018, with growth rates of 4.1% and 3.0% respectively, the index fell -2.5% year-on-year at third quarter of 2018. However, in cumulative terms, from October to June, the agricultural branch grew by 1.1%.

Secondary sector :
Unlike the second quarter of fiscal year 2017-2018, when the Secondary Sector was down 1.4% year-on-year, a reversal of the trend was observed in the third quarter with a 2.7% year-on-year increase. Cumulatively, this results in an increase of 1.5% over the period from October to June of the fiscal year 2018 compared to that (October - June) of 2017.

Manufacturing Industries:
During the months of April to June 2018, the Manufacturing Industries Index (textiles, food products, printing and chemicals) grew at an annualized rate of 2.7%. Nonmetallic mineral branches and metallurgical works have declined. In cumulative terms, from October to June, the index increased slightly by 1.3%.

Construction :
The Construction Sector Index posted 2.7% year-on-year growth consistent with the increase in various inputs used in construction, particularly cement, iron and quarrying. In cumulative value, over the 9 months first month of the year, this branch recorded an increase of 2.8% compared to the same period of the previous year.

Electricity and water:
In contrast to the decline in the first two quarters of this fiscal year, the Electricity and Water Production and Distribution branch achieved an increase of 2.7% year-on-year in the third quarter, compared to 1.1% in the third quarter of fiscal year 2016-2017. The cumulative change over the period from October to June 2018 compared to that of the 2017 fiscal year is -3.8%.

Tertiary sector :
With a year-on-year growth of 2.2%, the Commercial Sector's ICAE contributed 1.4% to the rise in ICAE Global. The increase in this segment this quarter is due to a positive change in almost all of its businesses, except for the Financial Services division, which declined. In cumulative value, this sector reached 2.9% in terms of growth from October to June of the 2018 financial year.

Trade
The Trade Branch Index recorded a positive year-on-year change of 1.8%, compared with 2.2% recorded last year. In cumulative value, the Index has grown by 1.9% over the first nine months.

Restaurant and Hotel:
The Restaurant and Hotel Index posted year-over-year growth of 2.0% in the third quarter of fiscal year 2018. In cumulative terms from October 2017 to June 2018, the index increased 3.5% .

Transport and Communications:
In the third quarter of fiscal year 2017-2018, the Transportation and Communications Branch's CIAE posted growth of 3.7%, compared with 3.4% over the same period last year. The cumulative growth of this sector over the period from October to June of fiscal year 2018 is 4.9%.

Financial institutions :
After a 13.0% increase in the third quarter last year (corrected figure), the Financial Services Activity Index declined by -9.3% during the 3rd quarter of fiscal year 2017-2018. In cumulative value, this branch reported a 4.5% fall from October to June this fiscal year.

Other Merchant Services:
The Other Merchant Services Branch Index, comprising the Real Estate, Healthcare and Education sub-sectors, reported annual growth of 2.0% in the third quarter of the 2017-2018 fiscal year, compared to 3.0% over the same period last year. The increase in this branch is supported by all its components. The cumulative growth over the period from October to June of the fiscal year 2017-2018 is 1.6%.

Non-Merchant Services:
The Non-Merchant Services Index was up 3.8% year-over-year in the third quarter of the 2017-2018 fiscal year, compared to 2.0% compared to the same period last year. The cumulative growth from October to June 2018 reached 3.9%.

NOTE : In contrast to the Latin American countries where this indicator is calculated monthly, in the case of Haiti, taking into account the period of availability of basic sector data, the publication deadline of the ICAE is 90 days after the quarter under study

HL/ HaitiLibre

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