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 US-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 continued exports of non-traditional
agricultural products (such as melons, chiles, tilapia, and shrimp),
and on reduction of the high crime rate.
GDP (purchasing power parity):
$20.61 billion (2005 est.)
GDP (official exchange rate):
$7.812 billion (2005 est.)
GDP - real growth rate:
4.2% (2005 est.)
GDP - per capita (PPP):
$2,900 (2005 est.)
GDP - composition by sector: agriculture: 13.9% industry: 31.2% services: 54.9% (2005 est.)
Labor force: 2.54 million (2005 est.)
Labor force - by occupation: agriculture: 34% industry: 21% services: 45% (2001 est.)
Unemployment rate:
28% (2005 est.)
Population below poverty line:
53% (1993 est.)