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Honduras Economy 2011
https://theodora.com/wfb2011/honduras/honduras_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















Honduras Economy 2011
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES

Page last updated on January 12, 2011

Economy - overview:
Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Nearly half of Honduras's economic activity is directly tied to the US, with exports to the US equivalent to 30% of GDP and remittances for another 20%. The US-Central America Free Trade Agreement (CAFTA) came into force in 2006 and has helped foster foriegn direct investment, but physical and political insecurity may deter potential investors; about 70% of FDI is from US firms. The economy registered marginally positive economic growth in 2010, insufficient to improve living standards for the nearly 60% of the population in poverty. The LOBO administration inherited a difficult fiscal position with off-budget debts accrued in previous administrations and government salaries nearly equivalent to tax collections. His government has displayed a commitment to improving tax collection and cutting expenditures. This enabled Tegucigalpa to secure an IMF Precautionary Stand-By agreement in October 2010. The IMF agreement has helped renew multilateral and bilateral donor confidence in Honduras following the ZELAYA administration's economic mismanagement and the political coup.

GDP (purchasing power parity):
$33.77 billion (2010 est.)
country comparison to the world: 104

$32.94 billion (2009 est.)
$33.65 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$15.34 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.5% (2010 est.)
country comparison to the world: 140

-2.1% (2009 est.)
4.2% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$4,200 (2010 est.)
country comparison to the world: 159

$4,200 (2009 est.)
$4,400 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 12.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 26.9%
[see also: GDP - composition by sector - industry country ranks ]
services: 60.8% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
3.394 million (2009 est.)
country comparison to the world: 98
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 39.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20.9%
[see also: Labor force - by occupation - industry country ranks ]
services: 39.8% (2005 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
5.1% (2010 est.)
country comparison to the world: 48

3.2% (2009 est.)
note: about 36% are unemployed or underemployed
[see also: Unemployment rate country ranks ]

Population below poverty line:
65% (2008)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 0.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 42.2% (2006)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
53.8 (2003)
country comparison to the world: 15

56.3 (1998)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
23.3% of GDP (2009 est.)
country comparison to the world: 54
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $2.923 billion
[see also: Budget - revenues country ranks ]
expenditures: $3.651 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
26.1% of GDP (2010 est.)
country comparison to the world: 93

23.7% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
4.6% (2010 est.)
country comparison to the world: 135

5.5% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
NA% (31 December 2009)

NA% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
19.16% (31 December 2009 est.)
country comparison to the world: 28

17.94% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.296 billion (31 December 2010 est)

$1.564 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$7.618 billion (31 December 2010 est.)

$7.064 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$7.581 billion (31 December 2010 est.)
country comparison to the world: 105

$7.029 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
bananas, coffee, citrus, corn, African palm; beef; timber; shrimp, tilapia, lobster

Industries:
sugar, coffee, woven and knit apparel, wood products, cigars

Industrial production growth rate:
2.4% (2009 est.)
country comparison to the world: 124
[see also: Industrial production growth rate country ranks ]

Electricity - production:
6.58 billion kWh (2007 est.)
country comparison to the world: 103
[see also: Electricity - production country ranks ]

Electricity - consumption:
6.54 billion kWh
country comparison to the world: 102
note: approximately 1.5 billion kWh in transmission and distribution losses (2007 est.)
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
11.8 million kWh (2007 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 187
[see also: Oil - production country ranks ]

Oil - consumption:
56,000 bbl/day (2009 est.)
country comparison to the world: 96
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 148
[see also: Oil - exports country ranks ]

Oil - imports:
46,130 bbl/day (2007 est.)
country comparison to the world: 89
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 171
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 100
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 145
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 173
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 162
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 169
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$1.048 billion (2010 est.)
country comparison to the world: 139

-$1.327 billion (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$5.879 billion (2010 est.)
country comparison to the world: 105

$5.09 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
apparel, coffee, shrimp, wire harnessing, cigars, bananas, gold, palm oil, fruit, lobster, lumber

Exports - partners:
US 59.6%, El Salvador 5.61%, Guatemala 5.28%, Mexico 4.19%, Germany 4.04% (2009)

Imports:
$8.878 billion (2010 est.)
country comparison to the world: 95

$5.924 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and transport equipment, industrial raw materials, chemical products, fuels, foodstuffs

Imports - partners:
US 46.81%, Guatemala 8.92%, El Salvador 7.13%, Mexico 5.54%, Costa Rica 4.91% (2009)

Reserves of foreign exchange and gold:
$2.302 billion (31 December 2010 est.)
country comparison to the world: 92

$2.127 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$3.54 billion (31 December 2010 est.)
country comparison to the world: 120

$3.311 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Exchange rates:
lempiras (HNL) per US dollar - 18.9 (2010), 18.895 (2009), 18.983 (2008), 18.9 (2007), 18.895 (2006)


NOTE: The information regarding Honduras on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Honduras Economy 2011 information contained here. All suggestions for corrections of any errors about Honduras Economy 2011 should be addressed to the CIA.






This page was last modified 09-Feb-11
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