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Honduras Economy 1996
Honduras is one of the poorest countries in the Western Hemisphere.
Agriculture, the most important sector of the economy, accounts for 28% of
GDP, employs 62% of the labor force, and produces two-thirds of exports.
Productivity remains low. Manufacturing, still in its early stages, employs
9% of the labor force, accounts for 15% of GDP, and generates 20% of
exports. The service sectors, including public administration, account for
50% of GDP and employ 20% of the labor force. Many basic problems face the
economy, including rapid population growth, high unemployment, inflation, a
lack of basic services, a large and inefficient public sector, and the
dependence of the export sector mostly on coffee and bananas, which are
subject to sharp price fluctuations. A far-reaching reform program,
initiated by former President CALLEJAS in 1990 and scaled back by President
REINA, is beginning to take hold.
GDP - purchasing power parity - $9.7 billion (1994 est.)
-
National product real growth rate:
-
National product per capita:
-
Inflation rate (consumer prices):
10%; underemployed 30%-40% (1992)
$668 million, including capital expenditures of $166 million (1993 est.)
$850 million (f.o.b., 1993 est)
bananas, coffee, shrimp, lobster, minerals, meat, lumber
US 53%, Germany 11%, Belgium 8%, UK 5%
$990 million (c.i.f. 1994 est)
machinery and transport equipment, chemical products, manufactured goods,
fuel and oil, foodstuffs
US 50%, Mexico 8%, Guatemala 6%
growth rate 10% (1992 est.); accounts for 22% of GDP
agricultural processing (sugar and coffee), textiles, clothing, wood
products
most important sector, accounting for 28% of GDP, more than 60% of the labor
force, and two-thirds of exports; principal products include bananas,
coffee, timber, beef, citrus fruit, shrimp; importer of wheat
transshipment point for narcotics; illicit producer of cannabis, cultivated
on small plots and used principally for local consumption
US commitments, including Ex-Im (FY70-89), $1.4 billion; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $1.1 billion
1 lempira (L) = 100 centavos
lempiras (L) per US$1 - 9.1283 (October 1994), 7.2600 (1993), 5.8300 (1992),
5.4000 (1991); 2.0000 (fixed rate until 1991) 5.70 parallel black-market
rate (November 1990); the lempira was allowed to float in 1992
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