Honduras - Economy
How is the economy of Honduras? Based on the information we have, Honduras has a second-fastest-growing Central American economy; COVID-19 and two hurricanes crippled activity; high poverty and inequality; declining-but-still-high violent crime disruption; systemic corruption; coffee and banana exporter; enormous remittances. Key agricultural products in this country include: sugarcane, oil palm fruit, maize, milk, bananas, coffee, cantaloupes/melons, oranges, chicken, beans (2023).
More about the economy of Honduras
Labor force 4.296 million (2024 est.)
Industrial production growth rate 0.8% (2024 est.)
Industries sugar processing, coffee, woven and knit apparel, wood products, cigars
Population below poverty line 64.1% (2023 est.)
Taxes and other revenues 15.1% (of GDP) (2020 est.)
Fiscal year
Exchange rates
Currency lempiras (HNL) per US dollar -
Exchange rates 2024 24.799 (2024 est.)
Exchange rates 2023 24.602 (2023 est.)
Exchange rates 2022 24.486 (2022 est.)
Exchange rates 2021 24.017 (2021 est.)
Exchange rates 2020 24.582 (2020 est.)
Debt - external
Debt - external 2023 $7.785 billion (2023 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024 $8.036 billion (2024 est.)
Reserves of foreign exchange and gold 2023 $7.543 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $8.41 billion (2022 est.)
Current account balance
Current account balance 2024 -$1.711 billion (2024 est.)
Current account balance 2023 -$1.368 billion (2023 est.)
Current account balance 2022 -$2.157 billion (2022 est.)
Budget
Revenues $5.333 billion (2020 est.)
Expenditures $5.696 billion (2020 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2024 25.7% of GDP (2024 est.)
Remittances 2023 26.1% of GDP (2023 est.)
Remittances 2022 27% of GDP (2022 est.)
Household income
Lowest 10% 1.1% (2023 est.)
Highest 10% 33% (2023 est.)
Average household expenditures
On food 31.5% of household expenditures (2023 est.)
On alcohol and tobacco 4.9% of household expenditures (2023 est.)
Imports
Imports 2024 $18.235 billion (2024 est.)
Imports 2023 $17.926 billion (2023 est.)
Imports 2022 $18.101 billion (2022 est.)
Imports (partners) USA 36%, China 14%, Guatemala 8%, Mexico 6%, El Salvador 6% (2023)
Comodities Imports force refined petroleum, cotton yarn, garments, trucks, packaged medicine (2023)
Exports
Imports 2024 $18.235 billion (2024 est.)
Imports 2023 $17.926 billion (2023 est.)
Imports 2022 $18.101 billion (2022 est.)
Exports (partners) USA 49%, Nicaragua 8%, El Salvador 7%, Guatemala 5%, Mexico 5% (2023)
Comodities Exports force garments, coffee, insulated wire, palm oil, shellfish (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $71.297 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $68.85 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $66.473 billion (2022 est.)
GDP (official exchange rate) $37.094 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $6,600 (2024 est.)
Real GDP per capita 2023 $6,500 (2023 est.)
Real GDP per capita 2022 $6,400 (2022 est.)
GDP - composition, by sector of origin
Agriculture 11.2% (2024 est.)
Industry 26.1% (2024 est.)
Services 58.4% (2024 est.)
GDP - composition, by end use
Household consumption 86% (2024 est.)
Government consumption 15.5% (2024 est.)
Investment in fixed capital 23.9% (2024 est.)
Investment in inventories -1.4% (2024 est.)
Exports of goods and services 33.5% (2024 est.)
Imports of goods and services -57.6% (2024 est.)
Unemployment rate
Unemployment rate 2024 6.1% (2024 est.)
Unemployment rate 2023 6.1% (2023 est.)
Unemployment rate 2022 8.8% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 10.5% (2024 est.)
Male 7.9% (2024 est.)
Female 15.9% (2024 est.)
All Important Facts about Honduras

Want to know more about Honduras? Check all different factbooks for Honduras below.

Honduras is found in Central America