Honduras Economy Profile 2001

Economy - overview

Honduras, one of the poorest countries in the Western Hemisphere, is banking on expanded trade privileges under the Enhanced Caribbean Basin Initiative and on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. While reconstruction from 1998's Hurricane Mitch is at an advanced stage, and the country has met most of its macroeconomic targets, it failed to meet the IMF's goals to liberalize its energy and telecommunications sectors. Economic growth has rebounded nicely since the hurricane and should continue in 2001.

GDP (purchasing power parity)

purchasing power parity - $17 billion (2000 est.)

GDP - real growth rate

5% (2000 est.)

GDP - per capita (PPP)

purchasing power parity - $2,700 (2000 est.)

GDP - composition by sector

agriculture: 16.2%

industry: 31.9%

services: 51.9% (1999 est.)

Population below poverty line

53% (1993 est.)

Household income or consumption by percentage share

lowest 10%: 1.2%

highest 10%: 42.1% (1996)

Inflation rate (consumer prices)

11% (2000 est.)

Labor force

2.3 million (1997 est.)

Labor force - by occupation

agriculture 29%, industry 21%, services 50% (1998 est.)

Unemployment rate

28% (2000 est.)

Budget

revenues: $607 million

expenditures: $411.9 million, including capital expenditures of $106 million (1999 est.)

Industries

sugar, coffee, textiles, clothing, wood products

Industrial production growth rate

4% (1999 est.)

Electricity - production

3.319 billion kWh (1999)

Electricity - production by source

fossil fuel: 44.71%

hydro: 55.29%

nuclear: 0%

other: 0% (1999)

Electricity - consumption

3.232 billion kWh (1999)

Electricity - exports

0 kWh (1999)

Electricity - imports

145 million kWh (1999)

Agriculture - products

bananas, coffee, citrus; beef; timber; shrimp

Exports

$2 billion (f.o.b., 2000 est.)

Exports - commodities

coffee, bananas, shrimp, lobster, meat; zinc, lumber

Exports - partners

US 35.4%, Germany 7.5%, El Salvador 6.4%, Guatemala 5.8%, Nicaragua 4.8% (1999)

Imports

$2.8 billion (f.o.b., 2000 est.)

Imports - commodities

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

Imports - partners

US 47.1%, Guatemala 7.4%, El Salvador 5.9%, Mexico 4.8%, Japan 4.7% (1999)

Debt - external

$5.4 billion (2000)

Economic aid - recipient

$557.8 million (1999)

Currency

lempira (HNL)

Currency (code)

HNL

Exchange rates

lempiras per US dollar - 15.1407 (December 2000), 15.1407 (2000), 14.5039 (1999), 13.8076 (1998), 13.0942 (1997), 12.8694 (1996)

Fiscal year

calendar year