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    Honduras Economy - 1991

      Overview: Honduras is one of the poorest countries in the Western Hemisphere. Agriculture, the most important sector of the economy, accounts for nearly 30% 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, sharply increased inflation, 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. Despite government efforts at reform and large-scale foreign assistance, the economy still is unable to take advantage of its sizable natural resources.

      GDP: $4.9 billion, per capita $960; real growth rate -1.0% (1990)

      Inflation rate (consumer prices): 35.2% (1990 est.)

      Unemployment rate: 15% unemployed, 30-40% underemployed (1989)

      Budget: revenues $1.4 billion; expenditures $1.9 billion, including capital expenditures of $511 million (1990 est.)

      Exports: $939 million (f.o.b., 1990); commodities--bananas, coffee, shrimp, lobster, minerals, lumber; partners--US 52%, FRG 11%, Japan, Italy, Belgium

      Imports: $1.1 billion (c.i.f. 1990); commodities--machinery and transport equipment, chemical products, manufactured goods, fuel and oil, foodstuffs; partners--US 39%, Japan 9%, CACM, Venezuela, Mexico

      External debt: $2.8 billion (1990)

      Industrial production: growth rate 2.9% (1989); accounts for 15% of GDP

      Electricity: 668,000 kW capacity; 2,023 million kWh produced, 380 kWh per capita (1990)

      Industries: agricultural processing (sugar and coffee), textiles, clothing, wood products

      Agriculture: most important sector, accounting for nearly 30% of GDP, over 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 (1970-88), $1,027 million

      Currency: lempira (plural--lempiras); 1 lempira (L) = 100 centavos

      Exchange rates: lempiras (L) per US$1--5.30 (fixed rate); 5.70 parallel black-market rate (November 1990)

      Fiscal year: calendar year

      NOTE: The information regarding Honduras on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Honduras Economy 1991 information contained here. All suggestions for corrections of any errors about Honduras Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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