Honduras Table of Contents
Salient Features: One of poorest nations in the Western Hemisphere. Economy dependent on two agricultural commodities, bananas and coffee. Small manufacturing sector. Poorly developed infrastructure. Heavily dependent on foreign aid.
Gross Domestic Product (GDP): US$3.3 billion in 1992 (US$650 per capita).
Agriculture: Main products: bananas and coffee. Also cattle, corn, cotton, dry beans, sorghum, sugarcane, and tobacco.
Industry: Mainly agricultural product processing and simple assembly operations; most items light consumer goods. Food, beverages, and tobacco products constitute 50 percent of production.
Energy: Domestic needs met by petroleum imports, mainly from Mexico and Venezuela, as well as by hydroelectric electricity generation. Electrification low and uneven, heavily concentrated in urban areas and western and northern parts of country.
Foreign Trade: Exports valued at US$843 million in 1992. Exports: bananas, coffee, shrimp and lobster, sugar, minerals, wood products, and refrigerated beef. Imports valued at US$983 million in 1992. Major commodities: machinery, manufactured equipment, and raw or intermediate materials, such as petroleum. Major trading partners: United States, European Union, Central American Common Market, Japan, Mexico, and Venezuela.
Balance of Payments: Total external debt estimated at US$3 billion in 1993. In 1980s and 1990s, most years had negative balance of payments.
Foreign Aid: Most economic assistance provided by United States. Received substantial amounts of military aid from the United States in 1980s.
Currency and Exchange Rate: US$1=8.78 lempiras (L) in August 1994 (official rate).
Fiscal year (FY): Calendar year.
Data as of December 1993