LKHaitiRevolution
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Haiti's Revolution
Curated by Lynn Korsun
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CIA World Factbook - Haiti Economy

CIA World Factbook - Haiti Economy | LKHaitiRevolution | Scoop.it

GDP : $11.48 billion (2010 est.)
GDP real growth rate : -5.1% (2010 est.)
GDP per capita : $1,200 (2010 est.)
GDP composition: agriculture: 25% industry: 16% services: 59% (2010 est.)
Unemployment rate : 40.6% (2010 est.) ; note: widespread unemployment and underemployment; more than two-thirds of the labor force do not have formal jobs
Population below poverty line : 80% (2003 est.)
Budget : revenues: $1.291 billion ; expenditures: $1.43 billion (2010 est.)
Budget deficit : -2.1% of GDP (2010 est.)
Inflation rate : 5.7% (2010 est.)
Agriculture products : coffee, mangoes, sugarcane, rice, corn, sorghum; wood
Industry : textiles, sugar refining, flour milling, cement, light assembly based on imported parts
Labor force : 4.81 million . note: shortage of skilled labor, unskilled labor abundant (2010 est.)
Electricity production : 650 million kWh (2010 est.)
Electricity consumption : 309 million kWh (2010 est.)
Oil production : 0 bbl/day (2010 est.)
Oil consumption : 12,000 bbl/day (2010 est.)
Oil imports : 13,480 bbl/day (2009 est.)
Oil exports : 0 bbl/day (2009 est.)
Current account balance : -$1.102 billion (2010 est.)
Exports : $536.6 million (2010 est.)
Export products : apparel, manufactures, oils, cocoa, mangoes, coffee
Exports to : US 90.2%, Canada 4%, France 1.5% (2010)
Imports : $2.778 billion (2010 est.)
Import products : food, manufactured goods, machinery and transport equipment, fuels, raw materials
Imports from : US 51%, Dominican Republic 19%, China 11% (2010 est.)
External debt : $504.1 million (31 December 2010 est.)
Exchange rate : gourdes (HTG) per US dollar -
40.15 (2010)
42.02 (2009)
39.216 (2008)
37.138 (2007)
40.232 (2006)

Haiti's economy suffered a severe setback when a 7.0 magnitude earthquake destroyed much of its capital city, Port-au-Prince, and neighboring areas in January 2010. Already the poorest country in the Western Hemisphere with 80% of the population living under the poverty line and 54% in abject poverty, the damage to Port-au-Prince caused the country's GDP to contract an estimated 5.1% in 2010.

 

Haiti suffers from a lack of investment, partly because of limited infrastructure and a lack of security.

 

The government relies on formal international economic assistance for fiscal sustainability, with over half of its annual budget coming from outside sources.

 

US economic engagement under the Haitian Hemispheric Opportunity through Partnership Encouragement (HOPE) Act, passed in December 2006, has boosted apparel exports and investment by providing duty-free access to the US.

 

Haiti received debt forgiveness for over $1 billion through the Highly-Indebted Poor Country (HIPC) initiative in mis-2009. The remainder of its outstanding external debt was cancelled by donor countries in early 2010 but has since risen to about $400 million.

 

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World History in Context - trade

-During the previous decade, St. Domingue had become the most prosperous colony in the Caribbean. In the 1780s, it produced nearly half of all the sugar and coffee consumed in Europe and the Americas, and, as the source of two-fifths of France's colonial trade, two-thirds of its ocean-going shipping tonnage, and a third of its seamen, had become the most valuable of French colonial possessions. This growth had been very rapid and had been achieved through a massive annual importation of African slaves, mostly young males, that averaged about 40,000 per year in the 1780s

 

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World History in Context - political

-political crisis in France --> conflicts in all levels of society, undermined French government, sovereignity on St. Domingue

-poor whites backed those who attacked wealthy elites and overturned monarchial authorities

-1789 Declaration of the Rights of Man  - free coloreds drawn into politics with encouragement of Société des Amis des Noirs (Society of Friends of Blacks), which campaigned for the abolition of the slave trade and for equal rights for free coloreds

-Vincent Ogé led revolts for civil equality of free coloreds in 1790

- Ogé's execution triggered a scandal in France and persuaded the National Assembly to legislate legal equality for free coloreds born of free parents

-created backlash of whites, who still wanted to maintain slavery --> to preserve plantation society and racial hierarchy

 

 

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World History: The Modern Era - Haitian Revolution

Abolished slavery
Liberated from French rule
Inspired more revolts in Caribbean & North America
Spain+Britain vs France - Spanish officials offered assistance to ex-slave armies
1794 - leadership passed to Toussaint L'Ouverture
1804 - Dessalines claimed independence of new country Haiti
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