Honduras - Economy
How is the economy of Honduras? Based on the information we have, Honduras has a second-fastest-growing Central American economy; COVID-19 and two hurricanes crippled activity; high poverty and inequality; declining-but-still-high violent crime disruption; systemic corruption; coffee and banana exporter; enormous remittances. Key agricultural products in this country include: sugarcane, oil palm fruit, milk, maize, bananas, coffee, cantaloupes/melons, chicken, oranges, beans (2022).
More about the economy of Honduras
| Labor force | 4.565 million (2022 est.) |
|---|---|
| Industrial production growth rate | 5.31% (2022 est.) |
| Industries | sugar processing, coffee, woven and knit apparel, wood products, cigars |
| Population below poverty line | 48% (2019 est.) |
| Taxes and other revenues | 14.77% (of GDP) (2020 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | lempiras (HNL) per US dollar - |
| Exchange rates 2022 | 24.486 (2022 est.) |
| Exchange rates 2021 | 24.017 (2021 est.) |
| Exchange rates 2020 | 24.582 (2020 est.) |
| Exchange rates 2019 | 24.509 (2019 est.) |
| Exchange rates 2018 | 23.903 (2018 est.) |
| Debt - external | |
| Debt - external 2019 | $9.137 billion (2019 est.) |
| Debt - external 2018 | $8.722 billion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2022 | $8.41 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $8.667 billion (2021 est.) |
| Reserves of foreign exchange and gold 2020 | $8.138 billion (2020 est.) |
| Current account balance | |
| Current account balance 2022 | -$2.083 billion (2022 est.) |
| Current account balance 2021 | -$1.528 billion (2021 est.) |
| Current account balance 2020 | $665.854 million (2020 est.) |
| Public debt | |
| Public debt 2017 | 39.5% of GDP (2017 est.) |
| Public debt 2016 | 38.5% of GDP (2016 est.) |
| Budget | |
| Revenues | $6.476 billion (2019 est.) |
| Expenditures | $6.454 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | -2.7% (of GDP) (2017 est.) |
| Remittances | |
| Remittances 2022 | 26.75% of GDP (2022 est.) |
| Remittances 2021 | 25.29% of GDP (2021 est.) |
| Remittances 2020 | 23.45% of GDP (2020 est.) |
| Household income | |
| Lowest 10% | 1.2% |
| Highest 10% | 34.6% (2019 est.) |
| Average household expenditures | |
| On food | 31.9% of household expenditures (2021 est.) |
| On alcohol and tobacco | 4.9% of household expenditures (2021 est.) |
| Imports | |
| Imports 2022 | $17.957 billion (2022 est.) |
| Imports 2021 | $14.869 billion (2021 est.) |
| Imports 2020 | $9.94 billion (2020 est.) |
| Imports (partners) | US 47%, Guatemala 10%, China 10%, El Salvador 7%, Mexico 4% (2022) |
| Comodities Imports force | refined petroleum, cotton yarn, garments, synthetic fibers, plastic products (2022) |
| Exports | |
| Imports 2022 | $17.957 billion (2022 est.) |
| Imports 2021 | $14.869 billion (2021 est.) |
| Imports 2020 | $9.94 billion (2020 est.) |
| Exports (partners) | US 51%, Nicaragua 8%, El Salvador 8%, Guatemala 5%, Germany 4% (2022) |
| Comodities Exports force | garments, coffee, insulated wire, palm oil, bananas (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2022 | $59.562 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $57.273 billion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $50.894 billion (2020 est.) |
| GDP (official exchange rate) | $31.718 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2022 | $5,700 (2022 est.) |
| Real GDP per capita 2021 | $5,600 (2021 est.) |
| Real GDP per capita 2020 | $5,000 (2020 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 14.2% (2017 est.) |
| Industry | 28.8% (2017 est.) |
| Services | 57% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 77.7% (2017 est.) |
| Government consumption | 13.8% (2017 est.) |
| Investment in fixed capital | 23.1% (2017 est.) |
| Investment in inventories | 0.7% (2017 est.) |
| Exports of goods and services | 43.6% (2017 est.) |
| Imports of goods and services | -58.9% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2022 | 7% (2022 est.) |
| Unemployment rate 2021 | 8.23% (2021 est.) |
| Unemployment rate 2020 | 10.68% (2020 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 15.5% (2021 est.) |
| Male | 11.4% |
| Female | 24.6% |
All Important Facts about Honduras
Want to know more about Honduras? Check all different factbooks for Honduras below.
