ARCHIVE // HN // TIME-SERIES
Economic overview
Honduras — 36 years of data
Historical Values
| Year | Value |
|---|---|
| 1990 | Honduras is one of the poorest countries in the Western Hemisphere. Agriculture is the most important sector of the economy, accounting for nearly 30% of GDP, employing 62% of the labor force, and producing two-thirds of exports. Productivity remains low, however, leaving considerable room for improvement. Although industry is still in its early stages, it employs nearly 15% of the labor force, accounts for 23% of GDP, and generates 20% of exports. The service sectors, including public administr |
| 1991 | 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. B |
| 1992 | 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 nearly 20% of the labor force. |
| 1993 | 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 nearly 20% of the labor force. |
| 1994 | 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 |
| 1995 | Honduras is one of the poorest countries in the Western Hemisphere. Agriculture, the most important sector of the economy, accounts for 28% of GDP, employs 62% of the labor force, and produces two-thirds of exports. Productivity remains low. Manufacturing, still in its early stages, employs 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. Many basic problem |
| 1996 | Honduras is one of the poorest countries in the Western Hemisphere. Agriculture, the most important sector of the economy, employs nearly two-thirds of the labor force and produces two-thirds of exports. Productivity remains low. Manufacturing, still in its early stages, employs about 9% of the labor force, and generates 20% of exports. Many basic problems face the economy, including rapid population growth, high unemployment, inflation, a lack of basic services, a large and inefficient public s |
| 1997 | Honduras is one of the poorest countries in the Western Hemisphere. Agriculture employs nearly two-thirds of the labor force and produces two-thirds of exports. Productivity remains low. Manufacturing, mining, and construction account for 30 % of GDP and generate 20% of exports. Basic problems include rapid population growth, high underemployment, inflation, a lack of basic services, a large and inefficient public sector, and the dependence of the export sector mostly on coffee and bananas, whic |
| 1998 | In 1994 the REINA administration inherited an economy in the grips of stagflation due to an unprecedented energy crisis, declining agricultural output, and extravagant public expenditures. In response the REINA administration cut the fiscal deficit and enacted a number of structural reforms including passage of a modern financial sector reform law in 1995 and a central bank reform law in 1996. As a result, Honduras finished 1997 with improved GDP growth and a decreasing rate of inflation. The ne |
| 1999 | Prior to Hurricane Mitch in the fall of 1998, Honduras had been pursuing a moderate economic reform program and had posted strong annual growth numbers. The storm has dramatically changed economic forecasts for Honduras, one of the poorest countries in Central America and the hardest hit by Mitch. Honduras sustained approximately $3 billion in damages and will probably see GDP shrink by 2% in 1999 and unemployment rise. Hardest hit was the all-important agricultural sector, which is responsible |
| 2000 | Honduras spent 1999 primarily recovering from Hurricane Mitch, which killed more than 5,000 people and caused about $3 billion in damage. Although it is slated to receive about $2.76 billion in international aid, the economy shrank 3% with widening current account and fiscal deficits in 1999. It nevertheless met most of its macroeconomic targets, and 2000 should see economic recovery as reconstruction projects make progress and the agricultural sector recovers. Honduras may also get relief from |
| 2001 | Honduras, one of the poorest countries in the Western Hemisphere, 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 reconstruction from 1998's Hurricane Mitch is at an advanced stage, and the country has met most of its macroeconomic targets, it failed to meet the IMF's goals to liberalize its energy and telecommunications sectors. Economic growth has rebounded nicely since t |
| 2002 | 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 US economy, its |
| 2003 | 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 US economy, its |
| 2004 | Honduras, one of the poorest countries in the Western Hemisphere with an extraordinarily unequal distribution of income and massive unemployment, 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 has failed to meet the IMF's goals to liberalize its energy and telecommunications sectors. Growth remains dependent on the |
| 2005 | Honduras, one of the poorest countries in the Western Hemisphere with an extraordinarily unequal distribution of income and massive unemployment, is banking on expanded trade under the U.S.-Central America Free Trade Agreement (CAFTA) and on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. The country has met most of its macroeconomic targets, and began a three-year IMF Poverty Reduction and Growth Facility (PGRF) program in February 2004. Growth remains dependent on the |
| 2006 | Honduras, one of the poorest countries in the Western Hemisphere with an extraordinarily unequal distribution of income and massive unemployment, is banking on expanded trade under the US-Central America Free Trade Agreement (CAFTA) and on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. The country has met most of its macroeconomic targets, and began a three-year IMF Poverty Reduction and Growth Facility (PGRF) program in February 2004. Growth remains dependent on the ec |
| 2007 | Honduras, the second poorest country in Central America and one of the poorest countries in the Western Hemisphere, with an extraordinarily unequal distribution of income and massive unemployment, is banking on expanded trade under the US-Central America Free Trade Agreement (CAFTA) and on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. The country has met most of its macroeconomic targets, and began a three-year IMF Poverty Reduction and Growth Facility (PRGF) program i |
| 2008 | Honduras, the second poorest country in Central America and one of the poorest countries in the Western Hemisphere, with an extraordinarily unequal distribution of income and massive unemployment, is banking on expanded trade under the US-Central America Free Trade Agreement (CAFTA) and on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Despite improvements in tax collections, the government's fiscal deficit is growing due to increases in current expenditures and financi |
| 2009 | Honduras, the second poorest country in Central America, has an extraordinarily unequal distribution of income and high unemployment. The economy relies heavily on a narrow range of exports, notably bananas and coffee, making it vulnerable to natural disasters and shifts in commodity prices; however, investments in the maquila and non-traditional export sectors are slowly diversifying the economy. Economic growth remains dependent on the US economy its largest trading partner, and will decline i |
| 2010 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Nearly half of Honduras's economic activity is directly tied to the US, with exports to the US equivalent to 30% of GDP and remittances for another 20%. The US-Central America Free Trade Agre |
| 2011 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Nearly half of Honduras's economic activity is directly tied to the US, with exports to the US accounting for 30% of GDP and remittances for another 20%. The US-Central America Free Trade Agr |
| 2012 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Nearly half of Honduras's economic activity is directly tied to the US, with exports to the US accounting for 30% of GDP and remittances for another 20%. The US-Central America Free Trade Agr |
| 2013 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Nearly half of Honduras's economic activity is directly tied to the US, with exports to the US accounting for 30% of GDP and remittances for another 20%. The US-Central America-Dominican Repu |
| 2014 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Nearly half of Honduras's economic activity is directly tied to the US, with exports to the US accounting for 30% of GDP and remittances for another 20%. The US-Central America-Dominican Repu |
| 2015 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Honduras’s economy depends heavily on US trade and remittances. The US-Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in 2006 and has helped foster foreign |
| 2016 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. | Honduras’s economy depends heavily on US trade and remittances. The US-Central America-Dominican Republic Free Trade Agreement came into force in 2006 and has helped foster foreign direct i |
| 2017 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. | Honduras’s economy depends heavily on US trade and remittances. The US-Central America-Dominican Republic Free Trade Agreement came into force in 2006 and has helped foster foreign direct i |
| 2018 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Honduras’s economy depends heavily on US trade and remittances. The US-Central America-Dominican Republic Free Trade Agreement came into force in 2006 and has helped foster foreign direct inv |
| 2019 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Honduras’s economy depends heavily on US trade and remittances. The US-Central America-Dominican Republic Free Trade Agreement came into force in 2006 and has helped foster foreign direct inv |
| 2020 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Honduras’s economy depends heavily on US trade and remittances. The US-Central America-Dominican Republic Free Trade Agreement came into force in 2006 and has helped foster foreign direct inv |
| 2021 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Honduras’s economy depends heavily on US trade and remittances. The US-Central America-Dominican Republic Free Trade Agreement came into force in 2006 and has helped foster foreign direct inv |
| 2022 | Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing. Honduras s economy depends heavily on US trade and remittances. The US-Central America-Dominican Republic Free Trade Agreement came into force in 2006 and has helped foster foreign direct inv |
| 2023 | 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 |
| 2024 | 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 |
| 2025 | 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 |