4] 32-0027
Flag:
three equal horizontal bands of blue (top), white, and blue with five blue
five-pointed stars arranged in an X pattern centered in the white band; the
stars represent the members of the former Federal Republic of Central
America - Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua;
similar to the flag of El Salvador, which features a round emblem encircled
by the words REPUBLICA DE EL SALVADOR EN LA AMERICA CENTRAL centered in the
white band; also similar to the flag of Nicaragua, which features a triangle
encircled by the word REPUBLICA DE NICARAGUA on top and AMERICA CENTRAL on
the bottom, centered in the white band

*Honduras, Economy

Overview:
Honduras is one of the poorest countries in the Western Hemisphere.
Agriculture, the most important sector of the economy, accounts for more
than 25% of GDP, employs 62% of the labor force, and produces two-thirds of
exports. Productivity remains low. Industry, still in its early stages,
employs nearly 9% of the labor force, accounts for 15% of GDP, and generates
20% of exports. The service sectors, including public administration,
account for 50% of GDP and employ nearly 20% of the labor force. Basic
problems facing the economy include rapid population growth, high
unemployment, a lack of basic services, a large and inefficient public
sector, and the dependence of the export sector mostly on coffee and
bananas, which are subject to sharp price fluctuations. A far-reaching
reform program initiated by President CALLEJAS in 1990 is beginning to take
hold.
National product:
GDP - exchange rate conversion - $5.5 billion (1992 est.)
National product real growth rate:
3.6% (1992 est.)
National product per capita:
$1,090 (1992 est.)
Inflation rate (consumer prices):
8% (1992 est.)
Unemployment rate:
15% (30-40% underemployed) (1989)
Budget:
revenues $1.4 billion; expenditures $1.9 billion, including capital
expenditures of $511 million (1990 est.)
Exports:
$1.0 billion (f.o.b., 1991)
commodities:
bananas, coffee, shrimp, lobster, minerals, meat, lumber
partners:
US 65%, Germany 9%, Japan 8%, Belgium 7%
Imports:
$1.3 billion (c.i.f. 1991)
commodities:
machinery and transport equipment, chemical products, manufactured goods,
fuel and oil, foodstuffs
partners:
US 45%, Japan 9%, Netherlands 7%, Mexico 7%, Venezuela 6%
External debt:
$2.8 billion (1990)
Industrial pr