Haitian Diaspora Remittance Helps Haiti and U.S. Economies

Since the 2010 earthquake toppled Haiti, the country's economy has depended heavily on receiving remittances from the Haitian Diaspora. With about one in five families receiving remittances from relatives, Haiti's Central Bank estimates the Diaspora sends around one billion yearly to Haiti. This figure adds up to more than 25% of Haiti's Gross Domestic Product (GDP), and exceeds its annual foreign direct investment and export revenue.

What this means for the U.S. export market is a surplus trade balance between it and Haiti. Over 50% of Haiti's import market comes from the U.S. And remittances received from the Diaspora will be used to buy from the U.S. export market. It is a symbiotic relationship, based on remittances sent to Haiti and the spending of such on U.S. exports. Staples such as rice, wheat, beef, and chicken make up the most purchasing dollars of U.S. exported goods.
Of the 535,000 Haitian Diaspora residing in the U.S., 46.4% live in Florida. This means that 24%, or nearly half of Haiti's exports are generated by Florida.

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