on the bottom, centered in the
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@Honduras, Economy

Overview:
Honduras is one of the poorest countries in the Western Hemisphere.
Agriculture, the most important sector of the economy, accounts for
more than 25% 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 20%
of the labor force. Basic problems facing the economy include rapid
population growth, high unemployment, 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. A far-reaching reform program initiated by former
President CALLEJAS in 1990 is beginning to take hold. In 1993 the
large fiscal deficit emerged as a key economic problem, the result of
improvident state spending.
National product:
GDP - purchasing power equivalent - $10 billion (1993 est.)
National product real growth rate:
3.7% (1993 est.)
National product per capita:
$1,950 (1993 est.)
Inflation rate (consumer prices):
13% (1993 est.)
Unemployment rate:
10%; underemployed 30%-40% (1992)
Budget:
revenues:
$1.4 billion
expenditures:
$1.9 billion, including capital expenditures of $511 million (1990
est.)
Exports:
$850 million (f.o.b., 1993 est)
commodities:
bananas, coffee, shrimp, lobster, minerals, meat, lumber
partners:
US 53%, Germany 11%, Belgium 8%, UK 5%
Imports:
$1.1 billion (c.i.f. 1993 est)
commodities:
machinery and transport equipment, chemical products, manufactured
goods, fuel and oil, foodstuffs
partners:
US 50%, Mexico 8%, Guatemala 6%
External debt:
$2.8 billion (1990)
Industrial production:
growth rate 0.8% (1990 est.); accounts for 15% of GDP
Electricity:
capacity:
575,000 kW
production:
2 billion kWh
consumption per capita:
390 kWh (1992)
Industries:
agricultural processing (sugar and coffee), textiles, clothing, wood
products
Agriculture:
most important sector, accounting for more than 25% of GDP, more than
60% of the labor force, and two-thirds of exports; principal products
include bananas, coffee, timber, beef, citrus fruit, shrimp; importer
of wheat
Illicit drug