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Honduras Economy
Honduras Economy: A summary of information about Honduras Economy, from government research data as well as independent research and other sources.
Honduras: Economy
Economy - overview
Honduras spent 1999 primarily recovering from Hurricane Mitch, which killed more than 5,000 people and caused about $3 billion in damage. Although it is slated to receive about $2.76 billion in international aid, the economy shrank 3% with widening current account and fiscal deficits in 1999. It nevertheless met most of its macroeconomic targets, and 2000 should see economic recovery as reconstruction projects make progress and the agricultural sector recovers. Honduras may also get relief from its $4.4 billion external debt under the Highly Indebted Poor Countries (HIPC) initiative.
GDP
purchasing power parity - $14.1 billion (1999 est.)
GDP - real growth rate
-3% (1999 est.)
GDP - per capita
purchasing power parity - $2,050 (1999 est.)
GDP - composition by sector
agriculture: 20% industry: 25% services: 55% (1998 est.)
Population below poverty line
50% (1992 est.)
Household income or consumption by percentage share
lowest 10%: 1.2% highest 10%: 42.1% (1996)
Inflation rate (consumer prices)
14% (1999 est.)
Labor force
2.3 million (1997 est.)
Labor force - by occupation
agriculture 29%, industry 21%, services 60% (1998 est.)
Unemployment rate
12% (1999); underemployed 30% (1997 est.)
Budget
revenues: $980 million expenditures: $1.15 billion including capital expenditures of $NA (1998 est.)
Industries
sugar, coffee, textiles, clothing, wood products
Industrial production growth rate
9% (1992 est.)
Electricity - production
2.904 billion kWh (1998)
Electricity - production by source
fossil fuel: 34.44% hydro: 65.56% nuclear: 0% other: 0% (1998)
Electricity - consumption
2.742 billion kWh (1998)
Electricity - exports
16 million kWh (1998)
Electricity - imports
57 million kWh (1998)
Agriculture - products
bananas, coffee, citrus; beef; timber; shrimp
Exports
$1.6 billion (f.o.b., 1999 est.)
Exports - commodities
coffee, bananas, shrimp, lobster, meat; zinc, lumber
Exports - partners
US 73%, Japan 4%, Germany 4%, Belgium, Spain (1998)
Imports
$2.7 billion (f.o.b., 1999 est.)
Imports - commodities
machinery and transport equipment, industrial raw materials, chemical products, fuels, foodstuffs
Imports - partners
US 60%, Guatemala 5%, Netherlands Antilles, Japan, Germany, Mexico, El Salvador (1998)
Debt - external
$4.4 billion (1999)
Economic aid - recipient
$557.8 million (1999)
Currency
1 lempira (L) = 100 centavos
Exchange rates
lempiras (L) per US$1 - 14.5744 (January 2000), 14.5039 (1999), 13.8076 (1998), 13.0942 (1997), 12.8694 (1996), 10.3432 (1995)
Fiscal year
calendar year