International Trade in Haiti

News Related to International Trade in Haiti

• JetBlue to Begin Flights to Port-au-Prince, Haiti - May 10, 2013

  JetBlue Airways (Nasdaq: JBLU) today announced its intent to serve Port-au-Prince, Haiti with daily nonstop service from both New York City and Fort Lauderdale-Hollywood. From Toussaint...

  Source: Air Transport News

• Canadian priest killed in snatch and grab shooting in Haiti - Apr 26, 2013

  PORT-AU-PRINCE (Reuters) - A Canadian missionary was shot to death on Thursday as he left a bank in Haiti's capital, Port-au-Prince, according to local media reports.Related StoriesAfghan police take first, faltering steps in fight against corruptionU.S. announces espionage charge against former government lawyerBanks can help to stop human trafficking - Manhattan prosecutorSoutheast Asia's 2015 unity dream collides with realityU.S. suspects Syria used chemical weapons, wants proof

  Source: Reuters

• Report urges Haiti to protect quake victims from forced evictions - Apr 24, 2013

  PORT-AU-PRINCE (Reuters) - The human rights group Amnesty International accused the Haitian government on Tuesday of failing to stop the forcible eviction of thousands of displaced people living in tent camps set up after the huge earthquake that rocked the capital in 2010.Related StoriesItaly president set to announce choice for prime ministerFor India's drought-hit states, on-track monsoon may be too lateMinisters among richest French, shun risk like most saversU.S. drops charges against Mississippi man in ricin letters caseTexas fertilizer plant owner sued after deadly explosion

  Source: Reuters

• Is Haiti condemned to dirty air, denuded hills, blackouts and dangerous flooding? - Apr 19, 2013

  More than three years after Haiti suffered the worst natural disaster in its history, its recovery has been excruciatingly slow. Experts say the nation is struggling to break the vicious cycle of antiquated transmission networks, theft, corruption and poor maintenance crippling its power sector.

  Source: Environmental Health News

• Guatemala and Haiti joined Mexico in offering mangoes to the US - Apr 13, 2013

  According to figures released by the National Mango Board (NMB) in its latest harvest report, mango shipments to the US in the week ended on March 30, 2013 totalled approximately 2,031,950 boxes, a 15% increase in relation to the previous week.Of the total, about 1,490,148 boxes came from Mexico, 8% more.....

  Source: FreshPlaza

• Haiti's minister of finance resigns blaming "lack of solidarity" - Apr 11, 2013

  PORT-AU-PRINCE, Haiti (Reuters) - Haiti's Minister of Economy and Finances Marie Carmelle Jean-Marie resigned abruptly on Wednesday, accusing her cabinet colleagues of not cooperating with her attempts to clean up public finances.Related StoriesQatar, Libya give Egypt five billion dollar boost amid IMF talksU.N. talks with Syria on chemical arms probe at "impasse"A band of Korea brothers bids farewell in a Cold War zonePalestinian Prime Minister Fayyad offers resignation - sourcesMali's leading party picks candidate for July presidential poll

  Source: Reuters

• Drought and tropical storms hinder food supply in Haiti, UN says - Apr 04, 2013

  A growing number of people in Haiti do not have enough to eat, according to the United Nations relief wing, mostly as a result of drought and the impact of recent tropical storms.

  Source: United Nations

• Unirac partners with NRG Energy Inc. on solar installation for Haiti home for children - Mar 21, 2013

  Unirac partners with NRG Energy Inc. on solar installation for Haiti home for children

  Source: Renewable Energy News

• Haiti's Duvalier finally in court to face abuse of power charges - Mar 01, 2013

  PORT-AU-PRINCE (Reuters) - Former Haitian dictator Jean-Claude "Baby Doc" Duvalier faced corruption and human rights charges in a court on Thursday for the first time since a popular revolt forced him into exile in 1986, and denied responsibility for abuses under his 15-year rule.Related StoriesIran steps up arrests, torture, executions of dissidents - U.N.Al Qaeda commander Abou Zeid killed in Mali - Algeria's Ennahar TVAlgerian suspect in "Jihad Jane" case faces U.S. extraditionCardinals begin long process of picking new popeDonors step up ties with Somalia; praise rebuilding efforts

  Source: Reuters

Business outline for Haiti

Economic Overview

Although having suffered a series of shocks (food crisis, hurricanes, the global economic crisis), the Haitian economy grew after 2005. From 0.8% in 2008, growth reached 2.9% in 2009. However, the terrible earthquake which hit the island in January 2010, causing large damage, had a strong impact on the economy, which has shrunk by 8.5% in 2010 and should recover in 2011, sustained by the reconstruction and massive international aid.

The government's priority remains the humanitarian crisis provoked by the earthquake. The Action Plan for national recovery and development, adopted shortly after the catastrophe, emphasizes the creation of decentralised points of economic growth, the reduction of vulnerabilities to natural disasters, improvement of access to basic social services and a strenghtening of institutions. Poor infrastructure, drug trafficking, organized crime, social unrest and extensive deforestation which leads to natural major disasters are the main barriers to country's economic growth. Haiti is also heavily dependent on international aid.

Haiti is the poorest country in the Western Hemisphere, with more than 80% of its population living below poverty line, two thirds of the population are affected by unemployment or under-employment and more than one in four Haitians is malnurished.

FDI in Figures

The inflows of FDI into the country have been very slow during the recent years. However, FDI stocks, as a percentage of GDP, have increased since 2000. The FDI influx then slowed down following the earthquake which ravaged the island, yet they should accelerate along with the reconstruction of the country.

Although there are some barriers to the development of foreign investment in the country, such as corruption, long-term political instability and heavy bureaucracy, the government continues to offer tax exemptions to investors.

FDI has been mainly attracted into the telecommunications and oil sectors. Recently, clothing manufacturing and automobile spare-parts production have aroused the interest in foreign investors. The United States and the countries of the European Union are Haiti's major investing countries.

Foreign Trade Overview

Although Haiti does not grant tariff preferences to any nation, the country is open to trade. Foreign trade represents roughly 50 % of the GDP.

Custom duties are not too high (from 0% to 20%), with the exception of oil (90%). The country does not have many trade barriers. However, custom duties on finished goods are higher than those on raw materials .

The country is vulnerable to natural disasters. Moreover, the high cost of ports and the lack of investments are the main hurdles to foreign trade. In spite of everything, the country offers tax incentives such as access to free-trade.

Haiti imports much more than what it exports and the result is an enormous trade deficit, a situation that should not improve during the next coming years. The island main trade partners are the United States, the Netherlands (mainly Netherlands Antilles) and the Dominican Republic