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Honduras Economy 2015

SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES











Honduras Economy 2015
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 22, 2014

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 accounting for 30% of GDP and remittances for another 20%. The US-Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in 2006 and has helped foster foreign direct investment, but physical and political insecurity, as well as crime and perceptions of corruption, may deter potential investors; about 70% of FDI is from US firms. The economy registered modest economic growth of 3.0%-4.0% from 2010 to 2012, insufficient to improve living standards for the nearly 65% of the population in poverty. An 18-month IMF Standby Arrangement expired in March 2012 and was not renewed, due to the country's growing budget deficit and weak current account performance. Public sector workers complained of not receiving their salaries in November and December 2012, and government suppliers are owed at least several hundred million dollars in unpaid contracts. The government announced in January 2013 that loss-making public enterprises will be forced to submit financial rescue plans before receiving their budget allotments for 2013.

GDP (purchasing power parity):
$39.23 billion (2013 est.)
country comparison to the world: 108

$38.16 billion (2012 est.)
$36.74 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$18.88 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.8% (2013 est.)
country comparison to the world: 125

3.9% (2012 est.)
3.8% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$4,800 (2013 est.)
country comparison to the world: 164

$4,800 (2012 est.)
$4,700 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
17.7% of GDP (2013 est.)
country comparison to the world: 92

16.4% of GDP (2012 est.)
17.5% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 79.5%
government consumption: 16.4%
investment in fixed capital: 25.2%
investment in inventories: 1.2%
exports of goods and services: 51.5%
imports of goods and services: -73.8%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 14%
industry: 28.2%
services: 57.8% (2013 est.)

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:
4.6% (2013 est.)
country comparison to the world: 62
[see also: Industrial production growth rate country ranks ]

Labor force:
3.507 million (2013 est.)
country comparison to the world: 96
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 39.2%
industry: 20.9%
services: 39.8% (2005 est.)

Unemployment rate:
4.5% (2013 est.)
country comparison to the world: 43

4.4% (2012 est.)
note: about one-third of the people are underemployed
[see also: Unemployment rate country ranks ]

Population below poverty line:
60% (2010 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 0.4%
highest 10%: 42.4% (2009 est.)

Distribution of family income - Gini index:
57.7 (2007)
country comparison to the world: 8

53.8 (2003)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $3.113 billion
expenditures: $4.285 billion (2013 est.)

Taxes and other revenues:
16.5% of GDP (2013 est.)
country comparison to the world: 185
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.2% of GDP (2013 est.)
country comparison to the world: 181
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
40.6% of GDP (2013 est.)
country comparison to the world: 87

35.8% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
5.2% (2013 est.)
country comparison to the world: 158

5.2% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.25% (31 December 2010 est.)

NA% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
17.8% (31 December 2013 est.)
country comparison to the world: 21

18.45% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.781 billion (31 December 2013 est.)
country comparison to the world: 130

$1.913 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$6.845 billion (31 December 2013 est.)
country comparison to the world: 117

$6.801 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$10.5 billion (31 December 2013 est.)
country comparison to the world: 97

$10.43 billion (31 December 2012 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 ]

Current account balance:
-$1.636 billion (2013 est.)
country comparison to the world: 135

-$1.744 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$7.881 billion (2013 est.)
country comparison to the world: 102

$7.931 billion (2012 est.)
[see also: Exports country ranks ]

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

Exports - partners:
US 34.5%, Germany 11.6%, Belgium 6.8%, El Salvador 6.6%, Guatemala 4.9%, Nicaragua 4.6% (2012)

Imports:
$11.34 billion (2013 est.)
country comparison to the world: 94

$11.18 billion (2012 est.)
[see also: Imports country ranks ]

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

Imports - partners:
US 44.3%, Guatemala 8.5%, El Salvador 5.7%, Mexico 5.6%, China 4.7%, Costa Rica 4.1% (2012)

Reserves of foreign exchange and gold:
$2.414 billion (31 December 2013 est.)
country comparison to the world: 117

$2.533 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$6.173 billion (31 December 2013 est.)
country comparison to the world: 114

$5.233 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Exchange rates:
lempiras (HNL) per US dollar -

20.53 (2013 est.)
19.638 (2012 est.)
18.9 (2010 est.)
18.9 (2009)
18.983 (2008)


NOTE: 1) The information regarding Honduras on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Honduras Economy 2015 information contained here. All suggestions for corrections of any errors about Honduras Economy 2015 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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