*Honduras, Economy
Overview:
Honduras is one of the poorest countries in the Western Hemisphere.
Agriculture, the most important sector of the economy, accounts for more
than 25% of GDP, employs 62% of the labor force, and produces two-thirds of
exports. Productivity remains low. Industry, still in its early stages,
employs nearly 9% of the labor force, accounts for 15% of GDP, and generates
20% of exports. The service sectors, including public administration,
account for 50% of GDP and employ nearly 20% of the labor force. Basic
problems facing the economy include rapid population growth, high
unemployment, a lack of basic services, a large and inefficient public
sector, and the dependence of the export sector mostly on coffee and
bananas, which are subject to sharp price fluctuations. A far-reaching
reform program initiated by President CALLEJAS in 1990 is beginning to take
hold.
National product:
GDP - exchange rate conversion - $5.5 billion (1992 est.)
National product real growth rate:
3.6% (1992 est.)
National product per capita:
$1,090 (1992 est.)
Inflation rate (consumer prices):
8% (1992 est.)
Unemployment rate:
15% (30-40% underemployed) (1989)
Budget:
revenues $1.4 billion; expenditures $1.9 billion, including capital
expenditures of $511 million (1990 est.)
Exports:
$1.0 billion (f.o.b., 1991)
commodities:
bananas, coffee, shrimp, lobster, minerals, meat, lumber
partners:
US 65%, Germany 9%, Japan 8%, Belgium 7%
Imports:
$1.3 billion (c.i.f. 1991)
commodities:
machinery and transport equipment, chemical products, manufactured goods,
fuel and oil, foodstuffs
partners:
US 45%, Japan 9%, Netherlands 7%, Mexico 7%, Venezuela 6%
External debt:
$2.8 billion (1990)
Industrial production:
growth rate 0.8% (1990 est.); accounts for 15% of GDP
Electricity:
575,000 kW capacity; 2,000 million kWh produced, 390 kWh per capita (1992)
Industries:
agricultural processing (sugar and coffee), textiles, clothing, wood
products
Agriculture:
most important sector, accounting for more than 25% of GDP, more than 60% of
the labor force, and two-thirds of exports; principal products include
bananas, coffee, timber, beef, citrus fruit, shrimp; importer of wheat
Illicit drugs:
illicit producer of cannabis, cultivated on small plots and used principally
for local consumption; transshipment point for cocaine
Economic aid:
US commitments, including Ex-Im (FY70-89), $1.4 billion; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $1.1 billion
*Honduras, Economy
Currency:
1 lempira (L) = 100 centavos
Exchange rates:
lempiras (L) per US$1 - 5.4 (fixed rate); 5.70 parallel black-market rate
(November 1990); the lempira was allowed to float in 1992; current rate
about US$1 - 5.65
Fiscal year:
calendar year
*Honduras, Communications
Railroads:
785 km total; 508 km 1.067-meter gauge, 277 km 0.914-meter gauge
Highways:
8,950 km total; 1,700 km paved, 5,000 km otherwise improved, 2,250 km
unimproved earth
Inland waterways: 465 km navigable by small craft
Ports:
Puerto Castilla, Puerto Cortes, San Lorenzo
Merchant marine:
252 ships (1,000 GRT or over) totaling 819,100 GRT/1,195,276 DWT; includes 2
passenger-cargo, 162 cargo, 20 refrigerated cargo, 10 container, 6
roll-on/roll-off cargo, 22 oil tanker, 1 chemical tanker, 2 specialized
tanker, 22 bulk, 3 passenger, 2 short-sea passenger; note - a flag of
convenience registry; Russia owns 10 ships under the Honduran flag
Airports:
total:
165
usable:
137
with permanent-surface runways:
11
with runways over 3,659 m:
0
with runways 2,440-3,659 m:
4
with runways 1,220-2,439 m:
14
Telecommunications:
inadequate system with only 7 telephones per 1,000 persons; international
services provided by 2 Atlantic Ocean INTELSAT earch stations and the
Central American microwave radio relay system; broadcast stations - 176 AM,
no FM, 7 SW, 28 TV
*Honduras, Defense Forces
Branches:
Army, Navy (including Marines), Air Force, Public Security Forces (FUSEP)
Manpower availability:
males age 15-49 1,185,072; fit for military service 706,291; reach military
age (18) annually 58,583 (1993 est.)
Defense expenditures:
exchange rate conversion - $45 million, about 1% of GDP (1993 est.)
*Hong Kong, Header
Affiliation: (dependent territory of the UK)