Haiti Earthquake

The 2010 Haiti earthquake was a catastrophic magnitude 7.0 M_w earthquake, with an epicenter near the town of Léogâne , approximately 25 kilometers (16 mi) west of Port-au-Prince, Haiti's capital.The earthquake occurred at 16:53 local time  on Tuesday, 12 January 2010. By 24 January, at least 52 aftershocks measuring 4.5 or greater had been recorded.An estimated three million people were affected by the quake. Death toll estimates range from 100,000 to about 160,000..One out of four civil servants living in the capital were killed. There has been a history of national debt, prejudicial trade policies by other countries, and foreign intervention into national affairs that contributed to the pre-existing poverty and poor housing conditions that exacerbated the death toll. 

The earthquake struck just as Haiti’s economy was just starting to grow again. The U.S. Congress had just approved a hugely beneficial trade agreement. The Haitian Hemispheric Opportunity Through Partnership Encouragement (HOPE) Act was signed in 2006. The agreement boosted Haiti's apparel industry by allowing duty-free exports to the United States. By 2009, Haiti was the 17th-largest apparel supplier to the United States. Exports had reached $424 million, according to the American Apparel and Footwear Association. Apparel made up more than 90% of Haiti's exports to America.  By 2014, GDP was $18.3 billion in 2014, and grew just 2.3%. That's better than the $12 billion produced in 2008.

The government of Haiti estimated that 30,000 commercial buildings had collapsed or were severely damaged.The earthquake created between $7.8 billion to $8.5 billion in damage.It damaged the main airport, most of the ports, and nearly all the paved roads. It destroyed 106,000 homes and damaged another 188,383 houses. Sixty percent of the city's government buildings, and 80% of its schools were destroyed or damaged. Haiti was already the poorest country in the Western Hemisphere. Eighty percent of the population were under the poverty line and 54% lived in abject poverty. Nearly two-fifths of all Haitians are subsistence farmers. Haiti is especially vulnerable to damage from natural disasters because of deforestation.


Sources:

• http://christianals.com/haiti-earthquake/
• http://haitiearthquake.web.unc.edu/economic-impact-of-the-earthquake/
• https://www.britannica.com/event/Haiti-earthquake-of-2010
• https://www.thebalance.com/haiti-earthquake-facts-damage-effects-on-economy-3305660