Flag of Honduras

Honduras Economy Profile 2016

Home > Factbook > Countries > Honduras

Economy - overviewHonduras, 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.

Honduras’s economy depends heavily on US trade and remittances. The US-Central America-Dominican Republic Free Trade Agreement came into force in 2006 and has helped foster foreign direct investment, but physical and political insecurity, as well as crime and perceptions of corruption, may deter potential investors; about 15% of foreign direct investment is from US firms.

The economy registered modest economic growth of 2.6%-4.0% from 2010 to 2015, insufficient to improve living standards for the nearly 65% of the population in poverty. In 2015, Honduras faced rising public debt but its economy has performed better than expected due to low oil prices and improved investor confidence. The IMF continues to monitor the three-year standby arrangement signed in December 2014, aimed at easing Honduras’s poor fiscal position.
GDP (purchasing power parity)$41.06 billion (2015 est.)
$39.62 billion (2014 est.)
$38.43 billion (2013 est.)
note: data are in 2015 US dollars
GDP (official exchange rate)$20.3 billion (2015 est.)
GDP - real growth rate3.6% (2015 est.)
3.1% (2014 est.)
2.8% (2013 est.)
GDP - per capita (PPP)$4,900 (2015 est.)
$4,800 (2014 est.)
$4,700 (2013 est.)
note: data are in 2015 US dollars
Gross national saving18.8% of GDP (2015 est.)
14.4% of GDP (2014 est.)
10.4% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 81.6%
government consumption: 15.7%
investment in fixed capital: 23.5%
investment in inventories: -0.2%
exports of goods and services: 44.4%
imports of goods and services: -65% (2015 est.)
GDP - composition by sectoragriculture: 13.9%
industry: 26.4%
services: 59.7% (2015 est.)
Population below poverty line60% (2010 est.)
Labor force3.647 million (2015 est.)
Labor force - by occupationagriculture: 39.2%
industry: 20.9%
services: 39.8% (2005 est.)
Unemployment rate4.1% (2015 est.)
4.3% (2014 est.)
note: about one-third of the people are underemployed
Unemployment, youth ages 15-24total: 8%
male: 5.5%
female: 13.8% (2011 est.)
Household income or consumption by percentage sharelowest 10%: 0.4%
highest 10%: 42.4% (2009 est.)
Distribution of family income - Gini index57.7 (2007)
53.8 (2003)
Budgetrevenues: $3.434 billion
expenditures: $4.188 billion (2015 est.)
Taxes and other revenues17.2% of GDP (2015 est.)
Budget surplus (+) or deficit (-)-3.8% of GDP (2015 est.)
Public debt47.4% of GDP (2015 est.)
43.4% of GDP (2014 est.)
Inflation rate (consumer prices)3.2% (2015 est.)
6.1% (2014 est.)
Central bank discount rate6.25% (31 December 2010)
Commercial bank prime lending rate17.3% (31 December 2015 est.)
20.61% (31 December 2014 est.)
Stock of narrow money$2.167 billion (31 December 2015 est.)
$2.105 billion (31 December 2014 est.)
Stock of broad money$8.087 billion (31 December 2015 est.)
$7.538 billion (31 December 2014 est.)
Stock of domestic credit$12.24 billion (31 December 2015 est.)
$11.41 billion (31 December 2014 est.)
Market value of publicly traded shares$NA
Agriculture - productsbananas, coffee, citrus, corn, African palm; beef; timber; shrimp, tilapia, lobster, sugar, oriental vegetables
Industriessugar, coffee, woven and knit apparel, wood products, cigars
Industrial production growth rate3.3% (2015 est.)
Current Account Balance-$1.291 billion (2015 est.)
-$1.444 billion (2014 est.)
Exports$7.759 billion (2015 est.)
$8.072 billion (2014 est.)
Exports - commoditiescoffee, apparel, coffee, shrimp, automobile wire harnesses, cigars, bananas, gold, palm oil, fruit, lobster, lumber
Exports - partnersUS 36%, Germany 8.7%, El Salvador 8.5%, Guatemala 6%, Nicaragua 5.6%, Netherlands 4.1% (2015)
Imports$10.9 billion (2015 est.)
$11.07 billion (2014 est.)
Imports - commoditiescommunications equipment, machinery and transport, industrial raw materials, chemical products, fuels, foodstuffs
Imports - partnersUS 35.2%, China 13.6%, Guatemala 9.2%, Mexico 6.6%, El Salvador 5.1% (2015)
Reserves of foreign exchange and gold$3.543 billion (31 December 2015 est.)
$3.458 billion (31 December 2014 est.)
Debt - external$7.041 billion (31 December 2014 est.)
$6.831 billion (31 December 2013 est.)
Exchange rateslempiras (HNL) per US dollar -
22.28 (2015 est.)
21.137 (2014 est.)
21.137 (2013 est.)
19.64 (2012 est.)
18.895 (2011 est.)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on October 8, 2016

Economy Comparison