Honduran Economy, Honduras Economy
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Economy - overview: Honduras, 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 U.S.-Central America Free Trade Agreement (CAFTA) and on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. The country has met most of its macroeconomic targets, and began a three-year IMF Poverty Reduction and Growth Facility (PGRF) program in February 2004. Growth remains dependent on the economy of the US, its largest trading partner, on commodity prices, particularly coffee, and on reduction of the high crime rate.
GDP: 1.4% (2004)
GDP - real growth rate: 4.2% (2004 est.)
GDP - per capita: Purchasing power parity - $2,800 (2004 est.)
GDP - composition by sector: Agriculture: 12.7% industry: 32.1% services: 55.3% (2004 est.)
Population below poverty line: 53% (1993 est.)
Household income or consumption by percentage share: Lowest 10%: 0.6% highest 10%: 42.7% (1998)
Distribution of family income - Gini index: 56.3 (1998)
Inflation rate (consumer prices):
Labor force: 2.47 million (2004 est.)
Labor force - by occupation: Agriculture 34%, industry 21%, services 45% (2001 est.)
Unemployment rate: 28.5% (2004 est.)
Budget: Revenues: $1.467 billion expenditures: $1.722 billion, including capital expenditures of $106 million (2004 est.)
Industries: Sugar, coffee, textiles, clothing, wood products
Industrial production growth rate: 7.7% (2003 est.)
Electricity - production: 3.626 billion kWh (2002)
Electricity - production by source:
Electricity - consumption: 3.771 billion kWh (2002)
Electricity - exports: 16 million kWh (2002)
Electricity - imports: 415 million kWh (2002)
Oil - production: 0 bbl/day (2001 est.)
Oil - consumption: 29,000 bbl/day (2001 est.)
Oil - exports: NA
Oil - imports: NA
Oil - proved reserves:
Natural gas - production:
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Natural gas - proved reserves:
Agriculture - products: Bananas, coffee, citrus; beef; timber; shrimp
Exports: $1.457 billion f.o.b. (2004 est.)
Exports - commodities: Coffee, shrimp, bananas, gold, palm oil, fruit, lobster, lumber
Exports - partners: US 54.4%, El Salvador 8.1%, Germany 5.9%, Guatemala 5.4% (2004)
Imports: $3.332 billion f.o.b. (2004 est.)
Imports - commodities: Machinery and transport equipment, industrial raw materials, chemical products, fuels, foodstuffs (2000)
Imports - partners: US 37.5%, Guatemala 6.9%, Mexico 5.4%, Costa Rica 4.3%, El Salvador 4% (2004)
Debt - external: $5.365 billion (September 2004 est.)
Economic aid - recipient: $557.8 million (1999)
Currency:
Currency code:
Exchange rates: Lempiras per US dollar - 18.206 (2004), 17.345 (2003), 16.433 (2002), 15.474 (2001), 14.839 (2000)
Fiscal year: Calendar year
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The information here has been derived from Public Domain Sources such as the CIA World Factbook. No liability can be taken for any inaccuracies.
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