Honduras

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 equivalent to 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 foriegn direct investment, but physical and political insecurity may deter potential investors; about 70% of FDI is from US firms. The economy registered marginally positive economic growth in 2010, insufficient to improve living standards for the nearly 60% 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. 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 political coup.

$33.77 billion (2010 est.)

$32.94 billion (2009 est.)

$33.65 billion (2008 est.)

$15.34 billion (2010 est.)

2.5% (2010 est.)

-2.1% (2009 est.)

4.2% (2008 est.)

$4,200 (2010 est.)

$4,200 (2009 est.)

$4,400 (2008 est.)

3.394 million (2010 est.)

5.1% (2010 est.)

3.2% (2009 est.)

65% (2010)

53.8 (2003)

56.3 (1998)

23.3% of GDP (2010 est.)

26.1% of GDP (2010 est.)

23.7% of GDP (2009 est.)

4.6% (2010 est.)

5.5% (2009 est.)

NA% (31 December 2009)

NA% (31 December 2008)

19.16% (31 December 2009 est.)

17.94% (31 December 2008 est.)

$1.296 billion (31 December 2010 est)

$1.564 billion (31 December 2009 est)

$7.618 billion (31 December 2010 est.)

$7.064 billion (31 December 2009 est.)

$7.581 billion (31 December 2010 est.)

$7.029 billion (31 December 2009 est.)

$NA

bananas, coffee, citrus, corn, African palm; beef; timber; shrimp, tilapia, lobster

sugar, coffee, woven and knit apparel, wood products, cigars

2.4% (2010 est.)

6.58 billion kWh (2009 est.)

6.54 billion kWh

0 kWh (2008 est.)

11.8 million kWh (2007 est.)

0 bbl/day (2009 est.)

56,000 bbl/day (2009 est.)

0 bbl/day (2007 est.)

46,130 bbl/day (2007 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (1 January 2010 est.)

-$1.048 billion (2010 est.)

-$1.327 billion (2009 est.)

$5.879 billion (2010 est.)

$5.09 billion (2009 est.)

apparel, coffee, shrimp, wire harnessing, cigars, bananas, gold, palm oil, fruit, lobster, lumber

US 59.6%, El Salvador 5.61%, Guatemala 5.28%, Mexico 4.19%, Germany 4.04% (2009)

$8.878 billion (2010 est.)

$5.924 billion (2009 est.)

machinery and transport equipment, industrial raw materials, chemical products, fuels, foodstuffs

US 46.81%, Guatemala 8.92%, El Salvador 7.13%, Mexico 5.54%, Costa Rica 4.91% (2009)

$2.302 billion (31 December 2010 est.)

$2.127 billion (31 December 2009 est.)

$3.54 billion (31 December 2010 est.)

$3.311 billion (31 December 2009 est.)

lempiras (HNL) per US dollar - 18.9 (2010), 18.895 (2009), 18.983 (2008), 18.9 (2007), 18.895 (2006)