Honduras

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Honduras - In Short.

Overview of Honduras

Once part of Spain’s vast empire in the New World, Honduras became an independent nation in 1821. After two and a half decades of mostly military rule, a freely elected civilian government came to power in 1982. During the 1980s, Honduras proved a haven for anti-Sandinista contras fighting the Marxist Nicaraguan Government and an ally to Salvadoran Government forces fighting leftist guerrillas. The country was devastated by Hurricane Mitch in 1998, which killed about 5,600 people and caused approximately $2 billion in damage. Since then, the economy has slowly rebounded.
Value
Country Full Name
Honduras
Country Code
HND
Region
Latin America & Caribbean
Income Group
Lower middle income
Currency Unit
GDP
23662231634
Population
9904608
Land Area
111890
Net National Income Per Capita
2125.111566
GDP per Capita (PPP)
5420.234234

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Honduras - Economic

Economy of 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.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 3.1%-4.0% from 2010 to 2017, insufficient to improve living standards for the nearly 65% of the population in poverty. In 2017, Honduras faced rising public debt, but its economy has performed better than expected due to low oil prices and improved investor confidence. Honduras signed a three-year standby arrangement with the IMF in December 2014, aimed at easing Honduras’s poor fiscal position.

Unemployment Rate

Inflation Rate

Honduras - GDP Composition

GDP Composiiton & Value Added of Honduras

Last Updated: Jan, 2021, Updated For 2020.

Honduras - GDP, Value Added

Demographics of Honduras

most residents live in the mountainous western half of the country; unlike other Central American nations, Honduras is the only one with an urban population that is distributed between two large centers – the capital of Tegucigalpa and the city of San Pedro Sula; the Rio Ulua valley in the north is the only densely populated lowland area
Geographic Location

Central America, bordering the Caribbean Sea, between Guatemala and Nicaragua and bordering the Gulf of Fonseca (North Pacific Ocean), between El Salvador and Nicaragua

Races

Mestizo (mixed Amerindian and European) 90%, Amerindian 7%, African descent 2%, White 1%

Languages

Spanish (official), Amerindian dialectsmajor-language

Religion

Roman Catholic 46%, Protestant 41%, atheist 1%, other 2%, none 9% (2014 est.)

Dependency & Expectancy of Honduras

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Honduras - Social Media Briefing

Honduras - Social Media & Social Commerce

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Politics & Policies of Honduras

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

BCIE, CACM, CD, CELAC, EITI (candidate country), FAO, G-11, G-77, IADB, IAEA, IBRD, ICAO, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC (suspended), IOM, IPU, ISO (subscriber), ITSO, ITU, ITUC (NGOs), LAES, LAIA (observer), MIGA, MINURSO, MINUSTAH, NAM, OAS, OPANAL, OPCW, Pacific Alliance (observer), PCA, Petrocaribe, SICA, UN, UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCO (suspended), WFTU (NGOs), WHO, WIPO, WMO, WTO

Import of Honduras

Export of Honduras

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Export Destination