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World > North America > Honduras > Economy (Facts)

Honduras - Economy (Facts)
Economy - overview: Honduras, the second poorest country in Central America and one of the poorest countries in the Western Hemisphere, with an extraordinarily unequal distribution of income and massive unemployment, is banking on expanded trade under the US-Central America Free Trade Agreement (CAFTA) and on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. The country has met most of its macroeconomic targets, and began a three-year IMF Poverty Reduction and Growth Facility (PRGF) program in February 2004. The economy relies heavily on a narrow range of exports, notably bananas and coffee, making it vulnerable to natural disasters and shifts in commodity prices, but in recent years has experienced a rapid rise in exports of light manufacturers. Growth remains dependent on the economy of the US, its largest trading partner, and on reduction of the high crime rate, as a means of attracting and maintaining investment.
GDP - real growth rate: 6% (2006 est.)
GDP (purchasing power parity): $22.54 billion (2006 est.)
GDP (official exchange rate): $8.478 billion (2006 est.)
GDP - per capita (PPP): $3,100 (2006 est.)
GDP - composition by sector: agriculture: 13.6%
industry: 31.4%
services: 55% (2006 est.)
Population below poverty line: 53% (1993 est.)
Household income or consumption by percentage share: lowest 10%: 0.6%
highest 10%: 42.7% (1998)
Inflation rate (consumer prices): 5.7% (2006 est.)
Labor force: 2.589 million (2006 est.)
Labor force - by occupation: agriculture: 34%
industry: 23%
services: 43% (2003 est.)
Unemployment rate: 27.9% (2006 est.)
Budget: revenues: $2.002 billion
expenditures: $2.028 billion; including capital expenditures of $106 million (2006 est.)
Industries: sugar, coffee, textiles, clothing, wood products
Industrial production growth rate: 7.7% (2003 est.)
Electricity - production: 4.805 billion kWh (2004)
Electricity - consumption: 4.824 billion kWh (2004)
Electricity - exports: 0 kWh (2004)
Electricity - imports: 356 million kWh (2004)
Oil - production: 0 bbl/day (2004 est.)
Oil - consumption: 37,000 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 0 bbl
Natural gas - production: 0 cu m (2004 est.)
Agriculture - products: bananas, coffee, citrus; beef; timber; shrimp
Exports: $1.947 billion f.o.b. (2006 est.)
Exports - commodities: coffee, shrimp, bananas, gold, palm oil, fruit, lobster, lumber
Exports - partners: US 70.3%, Guatemala 3.5%, El Salvador 3.4% (2006)
Imports: $4.86 billion f.o.b. (2006 est.)
Imports - commodities: machinery and transport equipment, industrial raw materials, chemical products, fuels, foodstuffs
Imports - partners: US 51.7%, Guatemala 6.8%, El Salvador 4.4%, Mexico 4.1%, Costa Rica 4% (2006)
Debt - external: $5.587 billion (2006 est.)
Economic aid - recipient: $557.8 million (1999)
Currency: Honduran Lempira (HNL)

Current Honduran Lempira Exchange Rates
Historical Honduran Lempira Exchange Rates
Chart Honduran Lempira Exchange Rates
Currency code: HNL
Exchange rates: lempiras per US dollar - 18.895 (2006), 18.92 (2005), 18.206 (2004), 17.345 (2003), 16.433 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - Honduran Lempira Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
Honduran Lempira Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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