Markets

Haiti to Post Caribbean’s Fastest Growth in 2013, Jamaica Slowest: Report

By: Caribbean Journal Staff - December 13, 2012

Above: flooding in Haiti lowered the country’s GDP estimate for 2012, but it is projected to grow 6 percent in 2013 (UN Photo/Logan Abassi)

 

By the Caribbean Journal staff

Haiti is projected to lead the Caribbean in GDP growth in 2013, according to a new report from the United Nations Economic Commission for Latin America and the Caribbean.

Haiti had been projected to lead the region in GDP growth in 2012, with growth of more than 6 percent, but its estimated growth for 2012 was lowered by ECLAC. That followed a similar downward projection by the International Monetary Fund, which cited a series of damaging storms as a major factor (along with a low execution of public capital spending). Haiti grew by 5.6 percent in 2011.

Jamaica is projected to post the Caribbean’s slowest growth in 2013, at 0.1 percent.

With Haiti’s lowered projection, Belize posted the highest estimated growth in the Caribbean in 2012, with a rate of 4.2 percent.

ECLAC said the region as a whole would see stronger economic growth, despite “ongoing uncertainties” at the international level.

In the wider Caribbean basin, Panama is projected to lead with growth of 7.5 percent in 2013.

The Latin American and Caribbean region as a whole will end 2012 with GDP growth of 3.1 percent, the report said. The Caribbean subregion (Cuba, the Dominican Republic and Haiti were not included by the UN in this region) was projected to grow by 2.0 percent in 2013.

“The challenge for Latin America and the Caribbean is still to increase and stabilize investment growth, and not to depend exclusively on consumption as a means of driving structural change with equality, incorporating technical progress and delivering sustainable growth,” said Alicia Barcena, executive secretary of ECLAC.

See the full estimates and projections for the Caribbean for 2012 and 2013 below.

Popular Posts w punta cana

A New All-Inclusive W Hotel Is Opening This Year in Punta Cana 

The first-ever all-inclusive W Hotel in the Caribbean is opening this year in Punta Cana, Dominican Republic, Caribbean Journal has learned.  The hotel, part of a broad expansion for parent company Marriott International, is on the list of expected 2024 […]


Why Grenada Is a New Caribbean Luxury Hotspot

beach house silversands

From its world-renowned chocolate to its pristine beaches to a region-leading focus on sustainability, Grenada is as fascinating and unique as destination as you’ll find in the Caribbean.  But in the last few years, the lush Eastern Caribberan island has […]


5 Adults-Only Resorts to Visit Right Now in the Caribbean 

galley bay

Sometimes you just want that extra degree of serenity, of privacy, of seclusion. There is a reason, after all, that adults-only resorts are booming in popularity, particularly in the Caribbean: travelers want to know that when they arrive, they know […]


Related Posts all-inclusive jamaica

Jamaica Just Topped 4.15 Million Total Visitors 

Jamaica’s record-breaking 2023 included a total of 4.15 million total combined visitors to the island, according to Tourism Minister Edmund Bartlett.  That included a record 2,886,064 stopover visitors, a 16.4 percent increase over 2022.  The stopover record was accompanied by […]


Delta Is Relaunching Nonstop Flights From New York to Kingston, Jamaica 

jamaica hotel kingston

Delta Air Lines is bringing back nonstop flights between New York and a burgeoning travel destiantion in Jamaica, Caribbean Journal has confirmed.  It’s another new route for Kingston’s Norman Manley International Airport, an air hub that has quietly been adding […]


Jamaica Adding New Automated Passport Kiosks

doctors cave beach with waves

In a a bid to expedite processing at two of the Caribbean’s busiest airports, Jamaica is adding new automated passport control kiosks in Kingston and Montego Bay.  The new kiosks aim to “streamline passenger flow,” according to a statement from […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You