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Once part of Spain's vast empire in the New World, Honduras became an independent nation in 1821. After two and a half decades of mostly military rule, a freely elected civilian government came to power in 1982. During the 1980s, Honduras proved a haven for anti-Sandinista contras fighting the Marxist Nicaraguan Government and an ally to Salvadoran Government forces fighting leftist guerrillas. The country was devastated by Hurricane Mitch in 1998, which killed about 5,600 people and caused approximately $2 billion in damage. Since then, the economy has slowly rebounded.

Location

Central America, bordering the Caribbean Sea, between Guatemala and Nicaragua and bordering the Gulf of Fonseca (North Pacific Ocean), between El Salvador and Nicaragua

Natural Resources

timber, gold, silver, copper, lead, zinc, iron ore, antimony, coal, fish, hydropower

Population - distribution

most residents live in the mountainous western half of the country; unlike other Central American nations, Honduras is the only one with an urban population that is distributed between two large centers - the capital of Tegucigalpa and the city of San Pedro Sula; the Rio Ulua valley in the north is the only densely populated lowland area

7989415
Spanish (official), Amerindian dialects
TEGUCIGALPA (capital) 1.123 million; San Pedro Sula 852,000 (2015)
Conventional long form
Republic of Honduras
Conventional short form
Honduras
Local long form
Republica de Honduras
Local short form
Honduras
presidential republic
Name
Tegucigalpa
Geographic coordinates
14 06 N, 87 13 W
Time difference
UTC-6 (1 hour behind Washington, DC during Standard Time)
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
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.
Inflation
2.725%
External debt stocks
US$ 7,584,337,000
Total tax rate (% of commercial profits)
44.4%
Real Interest Rate
15.107%
Manufacturing, value added (% of GDP)
18.83%
Current Account Balance
US$ -1,291,425,227
Labor Force, Total
4,057,508
Employment in Agriculture
29.94%
Employment in Industry
21.55%
Employment in Services
48.46%
Unemployment Rate
6.28%
Imports of goods and services
US$ 12,485,911,445
Exports of goods and services
US$ 9,192,133,576
Total Merchandise Trade
85.28%
FDI, net inflows
US$ 1,316,679,827
Commercial Service Exports
US$ 2,634,028,441
bananas, coffee, citrus, corn, African palm; beef; timber; shrimp, tilapia, lobster, sugar, oriental vegetables
sugar processing, coffee, woven and knit apparel, wood products, cigars
Commodities
coffee, apparel, coffee, shrimp, automobile wire harnesses, cigars, bananas, gold, palm oil, fruit, lobster, lumber
Partners
US 36%, Germany 8.7%, El Salvador 8.5%, Guatemala 6%, Nicaragua 5.6%, Netherlands 4.1% (2015)
Commodities
communications equipment, machinery and transport, industrial raw materials, chemical products, fuels, foodstuffs
Partners
US 35.2%, China 13.6%, Guatemala 9.2%, Mexico 6.6%, El Salvador 5.1% (2015)
Country Risk Rating
C
A very uncertain political and economic outlook and a business environment with many troublesome weaknesses can have a significant impact on corporate payment behavior. Corporate default probability is high.
Business Climate Rating
C
The business environment is difficult. Corporate financial information is often unavailable and when available often unreliable. Debt collection is unpredictable. The institutional framework has many troublesome weaknesses. Intercompany transactions run major risks in the difficult environments rated C.
  • Privileged relations with the United States
  • Agricultural, mining, and tourist resources
  • Agreement with the IMF
  • Dependency on the American economic conditions (exports, foreign direct investment)
  • Dependency on imports of fuel and cereals (maize is the basic foodstuff)
  • High degree of criminality

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