Flag description:
three equal horizontal bands of blue (top), white, and blue with
five blue, five-pointed stars arranged in an X pattern centered in
the white band; the stars represent the members of the former
Federal Republic of Central America - Costa Rica, El Salvador,
Guatemala, Honduras, and Nicaragua; similar to the flag of El
Salvador, which features a round emblem encircled by the words
REPUBLICA DE EL SALVADOR EN LA AMERICA CENTRAL centered in the white
band; also similar to the flag of Nicaragua, which features a
triangle encircled by the word REPUBLICA DE NICARAGUA on top and
AMERICA CENTRAL on the bottom, centered in the white band
Economy Honduras
Economy - overview:
Honduras, the second poorest country in Central America and 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. The economy relies heavily on a narrow range of exports,
notably bananas and coffee, making it vulnerable to natural
disasters and shifts in commodity prices, but in recent years has
experienced a rapid rise in exports of light manufacturers. Growth
remains dependent on the economy of the US, its largest trading
partner, and on reduction of the high crime rate, as a means of
attracting and maintaining investment.
GDP (purchasing power parity):
$22.13 billion (2006 est.)
GDP (official exchange rate):
$8.414 billion (2006 est.)
GDP - real growth rate:
5.2% (2006 est.)
GDP - per capita (PPP):
$3,000 (2006 est.)
GDP - composition by sector: agriculture: 13.6% industry: 31.4% services: 55% (2006 est.)
Labor force: 2.589 million (2006 est.)
Labor force - by occupation: agriculture: 34% industry: 23% services: 43% (2003 est.)