Honduras
Economy
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Economy
Of Honduras - Statistics
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Honduras, one of the poorest countries in the
Western Hemisphere with an extraordinarily unequal distribution of
income, is banking on expanded trade privileges under the Enhanced
Caribbean Basin Initiative and on debt relief under the Heavily Indebted
Poor Countries (HIPC) initiative. While the country has met most of
its macroeconomic targets, it failed to meet the IMF's goals to liberalize
its energy and telecommunications sectors. Growth remains dependent
on the status of the U.S. economy, its major trading partner, on commodity
prices, particularly coffee, and on containment of the recent rise
in crime. On another trade front, Honduras clashed with its neighbor
Nicaragua in early 2003 over the latter's 35 percent import duties,
which were heavily impacting the Honduran economy. In an attempt to
attract foreign investment and to shore up domestic support, the Honduran
government "guaranteed" 12 years of electric power beginning in 2003.
The national energy provider, ENEE, will purchase this electricity
from private providers, AES-Honduras and Luz y Fuerza de San Lorenzo
S.A. (Lufussa).
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Inflation Rate
9.7% (2001)
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Industries
Sugar, coffee, textiles, clothing, wood products.
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Exports
US$2 billion (f.o.b., 2001)
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Imports
US$2.7 billion (f.o.b., 2001)
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Total Trade
Purchasing power parity
GDP US$17 billion (2001)
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Top Export Partners
US 39.9%, El Salvador 9.2%, Germany 7.9%, Belgium 5.8%, Guatemala
5.4% (2000)
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Top Import Partners
US 46.1%, Guatemala 8.2%, El Salvador 6.6%, Mexico 4.7%, Japan 4.6%
(2000)
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Top Exports
Coffee, bananas, shrimp, lobster, meat, zinc, lumber.
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Top Imports
Machinery and transport equipment, industrial raw materials, chemical
products, fuels, foodstuffs.
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Debt - external
US$5.6 billion (2001)
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Economic aid
Recipient: US$557.8 million (1999)
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Global Road Warrior, Copyright 2003 World Trade Press. All
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without express permission from World Trade Press.
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