Country Summary: Honduras (Republic of Honduras)
Country Name: Honduras (Republic of Honduras)
Capital: Tegucigalpa
Government Type: presidential republic
Background: 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, despite COVID and severe storm-related setbacks in 2020 and 2021.
Continent: Central America
Population: 9,571,352 (2023 est.)
Ethnic Groups: Mestizo (mixed Indigenous and European) 90%, Indigenous 7%, African descent 2%, White 1%
Languages: Spanish (official), Amerindian dialects
Religions: Evangelical/Protestant 48%, Roman Catholic 34%, other 1%, none 17% (2020 est.)
Economic Overview: 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
Currency: Honduran Lempira (HNL)
Reserves of Foreign Exchange & Gold: $8.41 billion (2022 est.) note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Real GDP (Purchasing Power Parity): $59.562 billion (2022 est.) note: data in 2017 dollars
Real GDP Growth Rate: 4% (2022 est.) note: annual GDP % growth based on constant local currency
Real GDP per Capita: $5,700 (2022 est.) note: data in 2017 dollars
Exports:
$9.385 billion (2022 est.) note: balance of payments - exports of goods and services in current dollars
Comparison Ranking: 115
Export Commodities: clothing and apparel, coffee, insulated wiring, palm oil, shrimp, gold, bananas (2021)
Export Partners: United States 53%, El Salvador 8%, Guatemala 5%, Nicaragua 5% (2019)
Imports:
$17.957 billion (2022 est.) note: balance of payments - imports of goods and services in current dollars
Comparison Ranking: 100
Import Commodities: refined petroleum, clothing and apparel, packaged medicines, broadcasting equipment, insulated wiring (2019)
Import Partners: United States 42%, China 10%, Guatemala 8%, El Salvador 8%, Mexico 6% (2019)
Natural Resources: timber, gold, silver, copper, lead, zinc, iron ore, antimony, coal, fish, hydropower
Agricultural Products: sugarcane, oil palm fruit, milk, bananas, maize, coffee, melons, oranges, poultry, beans
Industries: sugar processing, coffee, woven and knit apparel, wood products, cigars
Industrial Production Growth Rate:
5.31% (2022 est.) note: annual % change in industrial value added based on constant local currency
Comparison Ranking: 56
Labor Force: 4.565 million (2022 est.)
Unemployment Rate: 7% (2022 est.) note: % of labor force seeking employment
Natural Hazards: frequent, but generally mild, earthquakes; extremely susceptible to damaging hurricanes and floods along the Caribbean coast
Geography:
Total: 112,090 sq km
Land: 111,890 sq km
Water: 200 sq km
(Country Summary, The World Factbook, CIA.gov)
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