Economy - overview:
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 under the U.S.-Central
America Free Trade Agreement (CAFTA) and on debt relief under the
Heavily Indebted Poor Countries (HIPC) initiative. The country has
met most of its macroeconomic targets, and began a three-year IMF
Poverty Reduction and Growth Facility (PGRF) program in February
2004. Growth remains dependent on the economy of the US, its largest
trading partner, on commodity prices, particularly coffee, and on
reduction of the high crime rate.
GDP (purchasing power parity):
$18.79 billion (2004 est.)
GDP - real growth rate:
4.2% (2004 est.)
GDP - per capita:
purchasing power parity - $2,800 (2004 est.)
GDP - composition by sector: agriculture: 12.7% industry: 32.1% services: 55.3% (2004 est.)
Labor force:
2.47 million (2004 est.)
Labor force - by occupation:
agriculture 34%, industry 21%, services 45% (2001 est.)
Unemployment rate:
28.5% (2004 est.)
Population below poverty line:
53% (1993 est.)
Household income or consumption by percentage share: lowest 10%: 0.6% highest 10%: 42.7% (1998)