Economy Of Honduras
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Economy overview
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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 privileges under the Enhanced Caribbean Basin Initiative and on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. While the country has met most of its macroeconomic targets, it has failed to meet the IMF's goals to liberalize its energy and telecommunications sectors. Growth remains dependent on the status of the US economy, its major trading partner, on commodity prices, particularly coffee, and on reduction of the high crime rate.
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GDP
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purchasing power parity - $17.55 billion (2004 est.)
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GDP - real growth rate
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3% (2004 est.)
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GDP - per capita
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purchasing power parity - $2,600 (2004 est.)
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GDP - composition by sector
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agriculture: 12.8%
industry: 31.9%
services: 55.3% (2004 est.)
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Investment gross fixed
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24% of GDP (2004 est.)
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Population below poverty line
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53% (1993 est.)
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Household income or consumption by percentage share
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lowest 10%: 0.6%
highest 10%: 42.7% (1998)
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Distribution of family income - Gini index
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56.3 (1998)
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Inflation rate consumer prices
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7.7% (2004 est.)
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Labor force
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2.41 million (2004 est.)
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Labor force by occupation
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agriculture 34%, industry 21%, services 45% (2001 est.)
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Unemployment rate
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27.5% (2004 est.)
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Budget
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revenues: $1.342 billion
expenditures: $1.744 billion, including capital expenditures of $106 million (2004 est.)
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Public debt
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57.8% of GDP (2004 est.)
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Agriculture products
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bananas, coffee, citrus; beef; timber; shrimp
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Industries
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sugar, coffee, textiles, clothing, wood products
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Industrial production growth rate
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7.7% (2003 est.)
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Electricity production
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3.778 billion kWh (2001)
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Electricity production by source
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fossil fuel: 50.2%
hydro: 49.8%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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3.822 billion kWh (2001)
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Electricity exports
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0 kWh (2001)
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Electricity imports
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308 million kWh (2001)
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Oil production
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0 bbl/day (2001 est.)
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Oil consumption
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29,000 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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Current account balance
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$-279.6 million (2004 est.)
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Exports
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$1.37 billion f.o.b. (2004 est.)
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Exports commodities
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coffee, bananas, shrimp, lobster, meat; zinc, lumber (2000)
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Exports partners
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US 65.5%, El Salvador 3.5%, Guatemala 2.4% (2003)
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Imports
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$3.11 billion f.o.b. (2003 est.)
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Imports commodities
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machinery and transport equipment, industrial raw materials, chemical products, fuels, foodstuffs (2000)
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Imports partners
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US 53.1%, El Salvador 4.5%, Mexico 3% (2003)
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Reserves of foreign exchange gold
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$1.439 billion (2004 est.)
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Debt external
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$5.246 billion (2004 est.)
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Economic aid recipient
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$557.8 million (1999)
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Currency
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lempira (HNL)
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Currency code
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HNL
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Exchange rates
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lempiras per US dollar - 17.3453 (2003), 16.4334 (2002), 15.4737 (2001), 14.8392 (2000), 14.2132 (1999)
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Fiscal year
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calendar year
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Applied Language Solutions offer English to Spanish Translation .
This information was reproduced in part from the CIA World Fact book.
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