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  1. Home
  2. /Central America and Caribbean
  3. /Honduras
  4. /Economy
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Honduras
Honduras

Economy

Honduras

Budget

note: revenues and expenditures of the central government (excluding grants) converted to US dollars using the average official exchange rate for the specified year

revenues

$5.333 billion (2020 est.)

expenditures

$6.391 billion (2020 est.)

Exports

note: balance of payments - current dollar exports of goods and services

Exports 2022

$9.51 billion (2022 est.)

Exports 2023

$9.805 billion (2023 est.)

Exports 2024

$9.352 billion (2024 est.)

Imports

note: balance of payments - current dollar imports of goods and services

Imports 2022

$18.101 billion (2022 est.)

Imports 2023

$17.926 billion (2023 est.)

Imports 2024

$18.235 billion (2024 est.)

Industries

processing of sugar, coffee, woven and knitted clothing, wood products, cigars

Labor force

note: total number of individuals aged 15 and above who are either employed or looking for work

4.296 million (2024 est.)

Public debt

Public debt 2016

38.5% of GDP (2016 est.)

Remittances

note: personal transfers and compensation between individuals/households/entities that are residents and non-residents

Remittances 2022

27% of GDP (2022 est.)

Remittances 2023

26.1% of GDP (2023 est.)

Remittances 2024

25.7% of GDP (2024 est.)

Exchange rates

Currency

lempiras (HNL) per US dollar -

Exchange rates 2020

24.582 (2020 est.)

Exchange rates 2021

24.017 (2021 est.)

Exchange rates 2022

24.486 (2022 est.)

Exchange rates 2023

24.602 (2023 est.)

Exchange rates 2024

24.799 (2024 est.)

Debt - external

note: present value of external debt calculated in current US dollars

Debt - external 2023

$7.785 billion (2023 est.)

Economic overview

the second-fastest-growing economy in Central America; the impact of COVID-19 and two hurricanes severely affected activities; high levels of poverty and inequality; persistent but decreasing violent crime; systemic corruption; exporter of coffee and bananas; significant remittances

Unemployment rate

note: percentage of the labor force that is actively seeking employment

Unemployment rate 2022

8.8% (2022 est.)

Unemployment rate 2023

6.1% (2023 est.)

Unemployment rate 2024

6.1% (2024 est.)

Exports - partners

note: leading five export partners ranked by percentage share of total exports

USA 49%, Nicaragua 8%, El Salvador 7%, Guatemala 5%, Mexico 5% (2023)

Imports - partners

note: leading five import partners ranked by percentage share of total imports

USA 36%, China 14%, Guatemala 8%, Mexico 6%, El Salvador 6% (2023)

Real GDP per capita

note: data expressed in 2021 dollars

Real GDP per capita 2022

$6,400 (2022 est.)

Real GDP per capita 2023

$6,500 (2023 est.)

Real GDP per capita 2024

$6,600 (2024 est.)

Real GDP growth rate

note: annual GDP growth percentage based on constant local currency

Real GDP growth rate 2022

4.1% (2022 est.)

Real GDP growth rate 2023

3.6% (2023 est.)

Real GDP growth rate 2024

3.6% (2024 est.)

Agricultural products

note: top ten agricultural products ranked by tonnage

sugarcane, oil palm fruit, maize, milk, bananas, coffee, cantaloupes/melons, oranges, chicken, beans (2023)

Exports - commodities

note: leading five export commodities ranked by dollar value

garments, coffee, insulated wire, palm oil, shellfish (2023)

Imports - commodities

note: leading five import commodities ranked by dollar value

refined petroleum, cotton yarn, garments, trucks, packaged medicine (2023)

Current account balance

note: balance of payments - net trade along with primary and secondary income in current dollars

Current account balance 2022

-$2.157 billion (2022 est.)

Current account balance 2023

-$1.368 billion (2023 est.)

Current account balance 2024

-$1.711 billion (2024 est.)

Taxes and other revenues

note: central government tax revenue as a percentage of GDP

15.1% (of GDP) (2020 est.)

GDP (official exchange rate)

note: data represented in current dollars using the official exchange rate

$37.094 billion (2024 est.)

GDP - composition, by end use

note: percentages may not sum to 100% due to rounding or data collection gaps

household consumption

86% (2024 est.)

government consumption

15.5% (2024 est.)

investment in inventories

-1.4% (2024 est.)

investment in fixed capital

23.9% (2024 est.)

exports of goods and services

33.5% (2024 est.)

imports of goods and services

-57.6% (2024 est.)

Population below poverty line

note: percentage of the population living below the national poverty line

64.1% (2023 est.)

Average household expenditures

on food

31.5% of household expenditures (2023 est.)

on alcohol and tobacco

4.9% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note: annual percentage change based on consumer price fluctuations

Inflation rate (consumer prices) 2022

9.1% (2022 est.)

Inflation rate (consumer prices) 2023

6.7% (2023 est.)

Inflation rate (consumer prices) 2024

4.6% (2024 est.)

Industrial production growth rate

note: annual percentage change in industrial value added based on constant local currency

0.8% (2024 est.)

Real GDP (purchasing power parity)

note: data expressed in 2021 dollars

Real GDP (purchasing power parity) 2022

$66.473 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$68.85 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$71.297 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

7.9% (2024 est.)

note: percentage of the labor force aged 15-24 that is seeking employment

total

10.5% (2024 est.)

female

15.9% (2024 est.)

Reserves of foreign exchange and gold

note: holdings of gold (at year-end prices), foreign exchange, and special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$8.41 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$7.543 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$8.036 billion (2024 est.)

GDP - composition, by sector of origin

note: percentages may not total 100% due to unallocated consumption that is not captured in sector-reported data

industry

26.1% (2024 est.)

services

58.4% (2024 est.)

agriculture

11.2% (2024 est.)

Household income or consumption by percentage share

note: percentage share of income received by the lowest and highest 10% of the population

lowest 10%

1.1% (2023 est.)

highest 10%

33% (2023 est.)

Gini Index coefficient - distribution of family income

note: index (0-100) measuring income distribution; higher values indicate greater inequality

Gini Index coefficient - distribution of family income 2023

46.8 (2023 est.)

Explore Honduras

CommunicationsEnergyEnvironmentGeographyGovernmentIntroductionMilitary & SecurityPeople & SocietyTerrorismTransnational IssuesTransportation