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Haiti - Economy : Textile exports increased by 13%
27/12/2019 08:49:01

According to the Bank of the Republic of Haiti (BRH), in the external sector, the 4th quarter of the 2018-2019 fiscal year (July to September 2019) was marked by a decline in the trade deficit and an increase in private transfers without consideration. This improvement in the trade balance is due to the combined effect of an increase in exports and a slight decrease in imports (-2.63%). Indeed, for the period considered, the level of textile exports increased by 13% to reach US $ 1.11 billion.

In addition, the annual limit for duty-free clothing shipped from Haiti to the United States for 2020 has been increased by 1.1%. Thus, under the HOPE Haitian Hemispheric Opportunity Through Partnership for Encouragement law, nearly 377 million m2 equivalent of clothing items assembled in Haiti will be able to benefit from preferential treatment for the period extending from December 20, 2019 to December 19, 2020, i.e. almost 4 million additional m2. This increase was implemented under the Caribbean Basin Economic Recovery Act (CBERA).

Remember that the HOPE law provides for duty-free treatment for certain clothing items imported directly from Haiti. To be eligible, clothing items must be fully assembled or knitted in Haiti from any combination of fabrics, fabric components, shaped knitted components and yarns.

Research published by the US International Trade Commission (USITC) last October has shown that the garment sector in Haiti continues to be one of the main beneficiaries of the CBERA.

HL/ HaitiLibre