Monday, May 20, 2024

Honduras Economy 5-20-24

Nominal GDP $33.992B, Per capita GDP $3,245, Population 10,593,798, Debt to GDP 44.50%. Average Wage  $2,748, Inflation 20.23% Unemployment 8.08%, Land area 43,433 sq miles, Arable land 9%. Urban 60%, Rural 40%. Exports $12.3B, Imports $16B, Trade deficit $3.7B.

Exports are led by coffee (26%), Knit T-shirts ($2.1B), Knit Sweaters ($1.57B), Coffee ($1.46B), Insulated Wire ($1.15B), and Palm Oil ($460M)

The country's main imports include petroleum oils (13.5%), medicaments (4.7%), flat-rolled products of iron or non-alloy steel (3%), motor vehicles for the transport of goods (2.8%), and motor cars (2.2%) 

Honduras continues to face longstanding structural challenges, including systemic corruption, political interference in the justice system, insecurity, a very large percentage of the population living in poverty, and lethal attacks against environmental defenders.

Like its fellow countries in Central America, Honduras suffers from high crime and severe poverty in the wake of civil wars in the 1980s. Street gangs roam unchecked in many urban neighborhoods while drug traffickers ply the coasts and plague all levels of the state.

Weak institutions and widespread corruption lead to impunity, empowering the powerful criminal organizations  from drug traffickers to street gangs  that have turned Honduras into Central America's most violent country. It has also been the least politically stable.

Norb Leahy, Dunwoody GA Tea Party Leader

 

 

 

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