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, milk, maize, bananas, coffee, cantaloupes/melons, chicken, oranges, beans (2022).
More about the economy of Honduras
| Labor force | 4.676 million (2023 est.) |
|---|---|
| Industrial production growth rate | -2.04% (2023 est.) |
| Industries | sugar processing, coffee, woven and knit apparel, wood products, cigars |
| Population below poverty line | 48% (2019 est.) |
| Taxes and other revenues | 15.07% (of GDP) (2020 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | lempiras (HNL) per US dollar - |
| 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.) |
| Exchange rates 2019 | 24.509 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $7.611 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $7.543 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $8.41 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $8.667 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$1.335 billion (2023 est.) |
| Current account balance 2022 | -$2.063 billion (2022 est.) |
| Current account balance 2021 | -$1.538 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 39.5% of GDP (2017 est.) |
| Budget | |
| Revenues | $5.333 billion (2020 est.) |
| Expenditures | $5.696 billion (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 25.58% of GDP (2023 est.) |
| Remittances 2022 | 27% of GDP (2022 est.) |
| Remittances 2021 | 25.59% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 1.2% (2019 est.) |
| Highest 10% | 34.6% (2019 est.) |
| Average household expenditures | |
| On food | 31.6% of household expenditures (2022 est.) |
| On alcohol and tobacco | 4.9% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $17.861 billion (2023 est.) |
| Imports 2022 | $17.943 billion (2022 est.) |
| Imports 2021 | $14.869 billion (2021 est.) |
| Imports (partners) | US 47%, Guatemala 10%, China 10%, El Salvador 7%, Mexico 4% (2022) |
| Comodities Imports force | refined petroleum, cotton yarn, garments, synthetic fibers, plastic products (2022) |
| Exports | |
| Imports 2023 | $17.861 billion (2023 est.) |
| Imports 2022 | $17.943 billion (2022 est.) |
| Imports 2021 | $14.869 billion (2021 est.) |
| Exports (partners) | US 51%, Nicaragua 8%, El Salvador 8%, Guatemala 5%, Germany 4% (2022) |
| Comodities Exports force | garments, coffee, insulated wire, palm oil, bananas (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $68.854 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $66.473 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $63.828 billion (2021 est.) |
| GDP (official exchange rate) | $34.401 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $6,500 (2023 est.) |
| Real GDP per capita 2022 | $6,400 (2022 est.) |
| Real GDP per capita 2021 | $6,200 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 12% (2023 est.) |
| Industry | 26% (2023 est.) |
| Services | 57.4% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 86.4% (2023 est.) |
| Government consumption | 14.4% (2023 est.) |
| Investment in fixed capital | 24.2% (2023 est.) |
| Investment in inventories | -1.1% (2023 est.) |
| Exports of goods and services | 37% (2023 est.) |
| Imports of goods and services | -60.9% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 6.06% (2023 est.) |
| Unemployment rate 2022 | 7.04% (2022 est.) |
| Unemployment rate 2021 | 7.94% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 11% (2023 est.) |
| Male | 7.5% (2023 est.) |
| Female | 17% (2023 est.) |
All Important Facts about Honduras
Want to know more about Honduras? Check all different factbooks for Honduras below.
