Honduras:
Economy

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Other pages in this profile of Honduras:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition Honduras, the second poorest country in Central America and one of the poorest countries in the Western Hemisphere, with an extraordinarily unequal distribution of income and massive unemployment, is banking on expanded trade under the US-Central America Free Trade Agreement (CAFTA) and on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Despite improvements in tax collections, the government's fiscal deficit is growing due to increases in current expenditures and financial losses from the state energy and telephone companies. Honduras is the fastest growing remittance destination in the region with inflows representing over a quarter of GDP, equivalent to nearly three-quarters of exports. The economy relies heavily on a narrow range of exports, notably bananas and coffee, making it vulnerable to natural disasters and shifts in commodity prices, however, investments in the maquila and non-traditional export sectors are slowly diversifying the economy. Growth remains dependent on the economy of the US, its largest trading partner, and on reduction of the high crime rate, as a means of attracting and maintaining investment.
GDP (purchasing power parity)	Definition - World rank and map $30.65 billion (2007 est.)
GDP (official exchange rate)	Definition $12.28 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 6.3% (2007 est.)
GDP - per capita	Definition - World rank and map $4,100 (2007 est.)
GDP - composition by sector	Definition agriculture: 13.4% industry: 28.1% services: 58.6% (2007 est.)
Labor force	Definition 2.78 million (2007 est.)
Labor force - by occupation	Definition agriculture: 34% industry: 23% services: 43% (2003 est.)
Unemployment rate	Definition - World rank and map 27.8% (2007 est.)
Population below poverty line	Definition 50.7% (2004)
Household income or consumption by percentage share	Definition lowest 10%: 1.2% highest 10%: 42.2% (2003)
Distribution of family income - Gini index	Definition - World rank and map 53.8 (2003)
Inflation rate (consumer prices)	Definition - World rank and map 6.9% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 30.4% of GDP (2007 est.)
Budget	Definition revenues: $2.344 billion expenditures: $2.631 billion; including capital expenditures of $106 million (2007 est.)
Public debt	Definition - World rank and map 24.1% of GDP (2007 est.)
Agriculture - products	Definition bananas, coffee, citrus; beef; timber; shrimp, tilapia, lobster; corn, African palm
Industries	Definition sugar, coffee, textiles, clothing, wood products
Industrial production growth rate	Definition - World rank and map 4.4% (2007 est.)
Electricity - production	Definition - World rank and map 5.339 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 4.036 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 528.4 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 57 million kWh (2005)
Oil - production	Definition - World rank and map 0 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 43,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 5.6 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 765.4 bbl/day (2004)
Oil - imports	Definition - World rank and map 42,620 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$1.225 billion (2007 est.)
Exports	Definition - World rank and map $5.594 billion f.o.b. (2007 est.)
Exports - commodities	Definition coffee, shrimp, bananas, gold, palm oil, fruit, lobster, lumber
Exports - partners	Definition US 68.8%, Guatemala 4%, El Salvador 3.9% (2006)
Imports	Definition - World rank and map $8.556 billion f.o.b. (2007 est.)
Imports - commodities	Definition machinery and transport equipment, industrial raw materials, chemical products, fuels, foodstuffs
Imports - partners	Definition US 52.1%, Guatemala 7.1%, El Salvador 4.5%, Costa Rica 4.1%, Mexico 4.1% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $2.545 billion (31 December 2007 est.)
Debt - external	Definition - World rank and map $3.41 billion (31 December 2007 est.)
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $680.8 million (2005)
Currency (code)	Definition lempira (HNL)
Exchange rates	Definition lempiras per US dollar - 18.9 (2007), 18.895 (2006), 18.92 (2005), 18.206 (2004), 17.345 (2003)
Fiscal year	Definition calendar year

Honduras: Economy

Honduras:
Economy