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Honduras Economy 2013

SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES











Honduras Economy 2013
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 5, 2013

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 Free Trade Agreement (CAFTA) 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 sluggish economic growth in 2010, insufficient to improve living standards for the nearly 65% 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, and attracting foreign investment. 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 2009 coup.

GDP (purchasing power parity):
$37.67 billion (2012 est.)
country comparison to the world: 106

$36.28 billion (2011 est.)
$35.01 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$18.18 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.8% (2012 est.)
country comparison to the world: 91

3.6% (2011 est.)
2.8% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$4,600 (2012 est.)
country comparison to the world: 161

$4,500 (2011 est.)
$4,400 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 12.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 26.7%
services: 60.5% (2012 est.)

Labor force:
3.44 million (2012 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%
services: 39.8% (2005 est.)

Unemployment rate:
4.5% (2012 est.)
country comparison to the world: 45

4.9% (2011 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%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 42.4% (2009 est.)

Distribution of family income - Gini index:
57.7 (2007)
country comparison to the world: 9

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

Investment (gross fixed):
26.6% of GDP (2012 est.)
country comparison to the world: 37
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $3.339 billion
[see also: Budget revenues country ranks ]
expenditures: $4.044 billion (2012 est.)

Taxes and other revenues:
18.4% of GDP (2012 est.)
country comparison to the world: 171
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.9% of GDP (2012 est.)
country comparison to the world: 126
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
34.5% of GDP (2012 est.)
country comparison to the world: 103

32.9% of GDP (2011 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
5.1% (2012 est.)
country comparison to the world: 141

6.8% (2011 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 2012 est.)
country comparison to the world: 23

18.56% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.476 billion (31 December 2012 est.)
country comparison to the world: 121

$2.182 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$9.112 billion (31 December 2011 est.)
country comparison to the world: 111

$8.127 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$9.403 billion (31 December 2012 est.)
country comparison to the world: 100

$8.383 billion (31 December 2011 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% (2010 est.)
country comparison to the world: 116
[see also: Industrial production growth rate country ranks ]

Current account balance:
-$1.661 billion (2012 est.)
country comparison to the world: 132

-$1.503 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$6.946 billion (2012 est.)
country comparison to the world: 103

$7.204 billion (2011 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 33.1%, Germany 10.9%, El Salvador 7.3%, Belgium 6.5%, Guatemala 6.2% (2011)

Imports:
$10.66 billion (2012 est.)
country comparison to the world: 92

$10.34 billion (2011 est.)
[see also: Imports country ranks ]

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

Imports - partners:
US 46%, Guatemala 8.8%, Mexico 5.7%, El Salvador 5.4%, China 4.1%, Costa Rica 4% (2011)

Reserves of foreign exchange and gold:
$3.15 billion (31 December 2012 est.)
country comparison to the world: 107

$2.785 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$4.884 billion (31 December 2012 est.)
country comparison to the world: 118

$4.564 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Exchange rates:
lempiras (HNL) per US dollar -

19.51 (2012 est.)
18.895 (2011 est.)
18.9 (2010 est.)
18.9 (2009)
18.983 (2008)

Fiscal year:
calendar year


NOTE: 1) The information regarding Honduras on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Honduras Economy 2013 information contained here. All suggestions for corrections of any errors about Honduras Economy 2013 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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