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    Honduras Economy - 1990

      Overview: Honduras is one of the poorest countries in the Western Hemisphere. Agriculture is the most important sector of the economy, accounting for nearly 30% of GDP, employing 62% of the labor force, and producing two-thirds of exports. Productivity remains low, however, leaving considerable room for improvement. Although industry is still in its early stages, it employs nearly 15% of the labor force, accounts for 23% of GDP, and generates 20% of exports. The service sectors, including public administration, account for 48% of GDP and employ nearly 20% of the labor force. Basic problems facing the economy include a high population growth rate, a high unemployment rate, a lack of basic services, a large and inefficient public sector, and an export sector dependent mostly on coffee and bananas, which are subject to sharp price fluctuations.

      GDP: $4.4 billion, per capita $890; real growth rate 4.0% (1988)

      Inflation rate (consumer prices): 11% (1989)

      Unemployment rate: 12% unemployed, 30-40% underemployed (1988)

      Budget: revenues $1,053 million; expenditures $949 million, including capital expenditures of $159 million (1989)

      Exports: $1.0 billion (f.o.b., 1988); commodities--bananas, coffee, shrimp, lobster, minerals, lumber; partners--US 52%, FRG 11%, Japan, Italy, Belgium

      Imports: $1.4 billion (c.i.f. 1988); commodities--machinery and transport equipment, chemical products, manufactured goods, fuel and oil, foodstuffs; partners--US 39%, Japan 9%, CACM, Venezuela, Mexico

      External debt: $3.2 billion (December 1989)

      Industrial production: growth rate 5% (1988)

      Electricity: 655,000 kW capacity; 1,980 million kWh produced, 390 kWh per capita (1989)

      Industries: agricultural processing (sugar and coffee), textiles, clothing, wood products

      Agriculture: most important sector, accounting for nearly 30% of GDP, over 60% of the labor force, and two-thirds of exports; principal products include bananas, coffee, timber, beef, citrus fruit, shrimp; importer of wheat

      Illicit drugs: illicit producer of cannabis, cultivated on small plots and used principally for local consumption; transshipment point for cocaine

      Aid: US commitments, including Ex-Im (FY70-88), $1.3 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $776 million

      Currency: lempira (plural--lempiras); 1 lempira (L) = 100 centavos

      Exchange rates: lempiras (L) per US$1--2.00 (fixed rate); 3.50 parallel exchange and black-market rate (October 1989)

      Fiscal year: calendar year

      NOTE: The information regarding Honduras on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Honduras Economy 1990 information contained here. All suggestions for corrections of any errors about Honduras Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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