Honduras

Description of Honduras

As a geopolitical and macroeconomic analyst, I offer unique insights into the economic landscape of Honduras. By delving into macroeconomic statistics and trends, I aim to provide a comprehensive understanding of how various economic indicators impact Honduras's development and its relations with other nations. Drawing from the works of renowned scholars like Henry Kissinger, George Kennan, and Peter Zeihan, I provide a nuanced perspective on Honduras's economic challenges and opportunities, shedding light on the country's path towards sustainable growth and prosperity.

Population And Age Structure

Population, total: Honduras has a population of 10,121,763, which is significantly below the average population of 40,097,746 in a dataset of 194 countries, ranking it at 90 out of 194 countries.

Population ages 0-14 (% of total population): The percentage of population ages 0-14 in Honduras is 31.07%, above the average of 27.34%, placing Honduras at rank 71 out of 194 countries.

Population ages 0-14, total: Honduras has a total of 3,144,533 in the age group 0-14, below the average of 10,327,380, ranking it at 84 out of 194 countries.

Population ages 15-64 (% of total population): Honduras has 64.82% of its population in the age group 15-64, slightly above the average of 63.44%, ranking it at 93 out of 194 countries.

Population ages 15-64, total: The total population in Honduras in the age group 15-64 is 6,560,498, significantly below the average of 26,003,407, placing Honduras at rank 89 out of 194 countries.

Population ages 65 and above (% of total population): Honduras has 4.12% of its population aged 65 and above, below the average of 9.22%, ranking it at 136 out of 194 countries.

Population ages 65 and above, total: The total population in Honduras aged 65 and above is 416,732, well below the average of 3,766,959, placing Honduras at rank 108 out of 194 countries.

Summary

Honduras has a relatively smaller total population compared to the average population of countries in the dataset, with a significant percentage of its population falling within the 0-14 age group. The country also has a lower proportion of individuals in the 15-64 age group and those aged 65 and above compared to the average. These demographic indicators are crucial for policymakers in Honduras to plan for healthcare, education, and social welfare programs tailored to different age groups, ensuring sustainable development and effective resource allocation.

Population Miscellaneous

- The rural population of Honduras is 4,214,803, which is below the average of 18,044,041. Honduras ranks 81st out of 190 countries in this category.
- The percentage of rural population in Honduras is 41.64%, slightly above the average of 41.16%. Honduras ranks 92nd out of 190 countries in this category.
- Honduras has an urban population of 5,906,960, below the average of 22,425,747. Honduras ranks 85th out of 194 countries in urban population.
- The urban population percentage in Honduras is 58.36%, lower than the average of 59.69%. Honduras ranks 103rd out of 194 countries in this metric.
- Honduras has an age dependency ratio of 54.28%, lower than the average of 59.22%. Honduras ranks 102nd out of 194 countries in this aspect.
- The crude birth rate in Honduras is 21.35 per 1,000 people, higher than the average of 19.38. Honduras ranks 72nd out of 192 countries in this metric.
- The crude death rate in Honduras is 4.95 per 1,000 people, below the average of 8.21. Honduras ranks 183rd out of 192 countries in this category.
- Honduras has a total fertility rate of 2.39 births per woman, slightly below the average of 2.60. Honduras ranks 83rd out of 190 countries in this indicator.

Summary

In summarizing the key macroeconomic indicators for Honduras, it is notable that the country has a lower rural population and urban population compared to global averages. Despite having a slightly higher percentage of rural population, Honduras has a lower urban population percentage. The country also exhibits a lower age dependency ratio, a higher crude birth rate, a lower crude death rate, and a slightly below-average total fertility rate.

These statistics are crucial as they provide insights into Honduras' demographic structure, development stage, and potential challenges. A lower urban population percentage may indicate slower urbanization and associated economic implications. The higher crude birth rate suggests a younger population, which can impact social services and education systems. Additionally, a below-average total fertility rate may have implications for future population growth and workforce dynamics.

Military

In terms of Military expenditure (current USD), Honduras spent significantly less than the average, with a value of $350,370,790.61. This places Honduras at rank 96 out of 149 countries in the dataset for this attribute.

Regarding Military expenditure (% of GDP), Honduras allocated 1.48% of its GDP, which is below the average of 1.90%. Honduras is ranked 76 out of 148 countries in this category.

For the attribute Armed forces personnel, total, Honduras had 23,000 personnel, much lower than the average of 165,908.54. This places Honduras at rank 99 out of 164 countries.

When considering Armed forces personnel (% of total labor force), Honduras had a percentage of 0.55, below the average of 1.28%. Honduras is ranked 105 out of 164 countries in this aspect.

Summary

Honduras demonstrates a notably lower investment in its military compared to the average of countries in the dataset. With below-average levels of military expenditure in both absolute terms and as a percentage of GDP, as well as a smaller armed forces personnel count and proportion relative to the average, Honduras ranks lower in these indicators compared to a significant number of countries.

These findings are crucial as they highlight Honduras' strategic priorities and resource allocation towards its military capabilities, which may impact its defense readiness, regional security dynamics, and potential military collaborations or conflicts with other nations.

Natural Resources

For Forest area, Honduras has 63,592.6 sq. km, significantly below the average of 211,606.11 sq. km, ranking 65th out of 191 countries.

Regarding Land area, Honduras' 111,890 sq. km is well below the average of 665,166.51 sq. km, ranking 100th out of 194 countries.

In terms of Surface area, Honduras possesses 112,490 sq. km, notably lower than the average of 689,779.56 sq. km, ranking 102nd out of 194 countries.

Concerning Arable land, Honduras has 1,018,000 hectares, considerably less than the average of 7,329,543.16 hectares, ranking 106th out of 190 countries.

For Land under cereal production, Honduras cultivates 403,791 hectares, a significant difference from the average of 4,206,011.63 hectares, ranking 102nd out of 174 countries.

Honduras experiences an average precipitation in depth of 1,976 mm per year, surpassing the average of 1,157.83 mm per year, ranking 33rd out of 178 countries.

In terms of Renewable internal freshwater resources, Honduras has 90.66 billion cubic meters, much lower than the average of 240.41 billion cubic meters, ranking 61st out of 178 countries.

Summary

Honduras has relatively small forest, land, and surface areas, as well as limited arable land and land under cereal production compared to global averages, placing it towards the lower end in rankings. However, the country receives above-average precipitation levels, but its renewable internal freshwater resources are below the global average. These indicators are crucial as they highlight Honduras' environmental resources and agricultural potential, influencing its economic development, sustainability, and food security initiatives.

Resource Rents

- Total natural resources rents (% of GDP): Honduras' value of 1.23% is below the average of 4.63%. This places Honduras at rank 98 out of 175 countries in the dataset.

- Forest rents (% of GDP): Honduras' value of 1.23% is slightly below the average of 1.53%. This places Honduras at rank 50 out of 174 countries in the dataset.

- Oil rents (% of GDP): Honduras' value of 0.00% is significantly below the average of 2.51%. This places Honduras at rank 112 out of 117 countries in the dataset.

- Mineral rents (% of GDP): Honduras' value of 0.00% is below the average of 1.23%. This places Honduras at rank 85 out of 86 countries in the dataset.

Summary

Overall, Honduras shows lower values in natural resources rents, forest rents, oil rents, and mineral rents compared to the global averages. This indicates a limited exploitation of natural resources within the country's economy. The low rankings in these categories suggest potential opportunities for Honduras to explore and develop its natural resource sector further to potentially boost economic growth and diversification.

Commodities

1. Cereal production (metric tons): Honduras' cereal production is 753,705.97 metric tons. This is significantly below the average of 17,249,945.93 metric tons, ranking Honduras 114th out of 174 countries in the dataset.

2. Aquaculture production (metric tons): Honduras' aquaculture production is 71,151.10 metric tons. This is below the average of 679,642.92 metric tons, placing Honduras 42nd out of 180 countries in the dataset.

3. Capture fisheries production (metric tons): Honduras' capture fisheries production is 15,818.82 metric tons. This falls short of the average of 467,453.06 metric tons, ranking Honduras 129th out of 190 countries in the dataset.

4. Total fisheries production (metric tons): Honduras' total fisheries production is 86,969.92 metric tons. This is lower than the average of 1,153,914.85 metric tons, positioning Honduras at 86th out of 182 countries in the dataset.

5. Fertilizer consumption (kilograms per hectare of arable land): Honduras' fertilizer consumption is 238.37 kilograms per hectare of arable land. This is above the average of 159.04 kilograms, ranking Honduras 33rd out of 187 countries in the dataset.

Summary

In summary, Honduras shows lower than average production levels in cereal, aquaculture, capture fisheries, and total fisheries. However, the country demonstrates an above-average fertilizer consumption rate per hectare of arable land. These indicators are crucial as they reflect Honduras' performance in key sectors of agriculture and fisheries, highlighting areas where the country may need to improve efficiency and productivity to enhance its overall economic development and food security.

Intellectual Property

1. Trademark applications, nonresident, by count: Honduras has 3659 trademark applications by nonresidents. This is below the attribute average of 15,878.93, ranking Honduras 82nd out of 130 countries in the dataset.

2. Trademark applications, resident, by count: Honduras has 1722 trademark applications by residents. This is significantly below the attribute average of 111,055.78, placing Honduras 86th out of 129 countries included in the data.

3. Scientific and technical journal articles: Honduras has 104.7 scientific and technical journal articles. This is well below the attribute average of 15,103.76, ranking Honduras 132nd out of 192 countries in the dataset.

4. Charges for the use of intellectual property, payments (BoP, current US$): Honduras has payments for intellectual property amounting to $62,388,066.00. This is significantly below the attribute average of $3,218,843,494.39, positioning Honduras 79th out of 143 countries in the data.

Summary

Honduras lags behind in various key macroeconomic indicators related to intellectual property and innovation. The country has significantly fewer trademark applications by both nonresidents and residents, a low number of scientific and technical journal articles, and much lower payments for the use of intellectual property compared to the global average. These indicators are crucial as they reflect the level of innovation, research, and development activities within the country, which are essential for long-term economic growth and competitiveness in the global market.

Broad Economy Attributes

For GDP (current US$), Honduras has a value of $23.83 billion, which is significantly below the average of $442.87 billion. Honduras ranks 105 out of 189 countries in this dataset.

In terms of GDP per capita (current US$), Honduras has a value of $2354.12, well below the average of $15462.11. The country ranks 137 out of 190 countries.

Looking at GNI (current US$), Honduras' value of $22.17 billion is much lower than the average of $452.04 billion. Honduras holds the 104th position out of 185 countries.

Regarding GNI per capita, PPP (current international $), Honduras's value of $4940 is notably lower than the average of $20615.75. The country ranks 138 out of 181 countries.

Summary

Honduras exhibits lower values across key macroeconomic indicators such as GDP, GDP per capita, GNI, and GNI per capita compared to the global averages. These rankings indicate a lower level of economic development and prosperity in Honduras relative to other countries worldwide. Addressing these disparities is crucial for the country's policymakers to focus on initiatives that can drive economic growth, improve living standards, and enhance the overall well-being of the population.

Broad Value Added

1. Gross value added at basic prices (GVA) (current US$): Honduras has a focus country value of 21,742,681,123.55 which is below the attribute average of 360,070,943,595.12. It ranks 98 out of 176 countries in the dataset.

2. Agriculture, forestry, and fishing, value added (% of GDP): With a value of 12.12%, Honduras exceeds the attribute average of 10.86%. Honduras ranks 63 out of 182 countries included in the data.

3. Agriculture, forestry, and fishing, value added (current US$): Honduras reports a value of 2,887,264,811.02, lower than the attribute average of 19,924,732,828.07. The country holds the 97th rank out of 182 countries in the dataset.

4. Services, value added (% of GDP): Honduras contributes 58.34% to its GDP through services, surpassing the attribute average of 56.72%. It holds the 76th rank out of 183 countries included in the analysis.

5. Services, value added (current US$): The value added by services in Honduras amounts to 13,901,605,007.36, significantly below the attribute average of 295,837,711,130.69. Honduras ranks 102 out of 183 countries in the dataset.

6. Industry (including construction), value added (current US$): Honduras records a value of 6,183,367,334.66 for industry and construction, falling short of the attribute average of 118,421,095,413.50. The country ranks 104 out of 183 countries in the dataset.

Summary

Honduras lags behind the global average in key macroeconomic indicators such as Gross Value Added, Agriculture, Forestry, and Fishing value added, Services value added, and Industry value added. This indicates potential challenges in the country's economic development and diversification. Addressing these gaps is crucial for Honduras to enhance its economic competitiveness and sustainability in the global market.

Manufacturing Value Added

For Manufacturing, value added (current US$), Honduras' value is $3,819,321,230.95, significantly below the average of $76,207,179,589.66. This places Honduras at rank 90 out of 173 countries in the dataset.

Honduras' Manufacturing, value added (% of GDP) is 16.03%, higher than the average of 11.90%. This places Honduras at rank 43 out of 173 countries in the dataset.

In terms of Medium and high-tech manufacturing value added (% manufacturing value added), Honduras performs below average at 7.16%, compared to the average of 24.49%. This places Honduras at rank 126 out of 149 countries in the dataset.

Summary

Honduras demonstrates a comparatively lower Manufacturing, value added in terms of current US$, placing the country at rank 90 out of 173 countries. However, Honduras outperforms in Manufacturing, value added (% of GDP), positioning at rank 43 out of 173 countries. On the other hand, in Medium and high-tech manufacturing value added (% manufacturing value added), Honduras falls below the average, ranking at 126 out of 149 countries. These statistics are crucial as they reveal Honduras' strengths in integrating manufacturing into its GDP while highlighting potential areas for improvement, particularly in high-tech manufacturing to enhance industrial competitiveness and technological advancement.

Money

Inflation, consumer prices (annual %): Honduras has a consumer price inflation rate of 3.47%, which is below the average of 8.26%. This places Honduras at rank 49 out of 165 countries in the dataset.

Inflation, GDP deflator (annual %): The GDP deflator inflation rate for Honduras is 4.63%, below the average of 6.90%. Honduras is ranked 52 out of 188 countries included in the data.

Broad money growth (annual %): Honduras has a broad money growth rate of 18.58%, slightly above the average of 18.03%. This places Honduras at rank 31 out of 139 countries.

Broad money (% of GDP): Honduras's broad money as a percentage of GDP is 78.39%, higher than the average of 71.75%. Honduras ranks 51 out of 139 countries in this aspect.

Broad money to total reserves ratio: Honduras has a ratio of 2.30, below the average of 5.17. This places Honduras at rank 84 out of 126 countries in the dataset.

Summary

Honduras demonstrates favorable macroeconomic indicators across multiple fronts. With below-average inflation rates in both consumer prices and GDP deflator, the country maintains stability in its pricing mechanisms. Moreover, the significant broad money growth rate, coupled with a higher percentage of broad money to GDP, indicates a robust financial system supporting economic activities. However, the lower ratio of broad money to total reserves suggests a potential vulnerability in managing external financial shocks.

These indicators are crucial in assessing Honduras' economic health and its resilience to external shocks. They provide insights into the country's monetary policy effectiveness, financial system strength, and overall economic stability, influencing investor confidence and economic growth prospects.

Consumption Expenditure

Final consumption expenditure (current US$): Honduras has a final consumption expenditure of $23,016,723,20.56, which is significantly below the average of $381,630,252,515.38. Honduras ranks 93rd out of 159 countries in this attribute.

Final consumption expenditure (% of GDP): Honduras's final consumption expenditure as a percentage of GDP is 96.60%, above the average of 82.37%. Honduras ranks 23rd out of 159 countries in this category.

General government final consumption expenditure (current US$): In Honduras, the general government final consumption expenditure is reported at $3,568,030,452.99, far below the average of $93,676,578,238.03. Honduras ranks 99th out of 158 countries in this attribute data.

General government final consumption expenditure (% of GDP): Honduras's general government expenditure as a percentage of GDP is 14.97%, lower than the average of 18.71%. Honduras ranks 105th out of 158 countries in this metric.

Household and NPISHs Final consumption expenditure (current US$): Honduras shows a final consumption expenditure of $19,448,641,867.56, significantly lower than the average of $290,127,571,157.69. Honduras ranks 92nd out of 158 countries for this category.

Households and NPISHs final consumption expenditure (% of GDP): Honduras's final consumption expenditure by households and NPISHs as a percentage of GDP is 81.62%, higher than the average of 63.68%. Honduras ranks 19th out of 158 countries in this attribute data.

Summary

Honduras has lower final consumption expenditure figures compared to the global average, ranking below the average in most categories. The country's government and household final consumption expenditures as a percentage of GDP are both higher than the global average, indicating a higher reliance on domestic consumption for economic growth.

These statistics are crucial as they provide insights into Honduras's economic development and sustainability. A lower general government final consumption expenditure relative to GDP might indicate limitations in public service provision and infrastructure development. Meanwhile, the higher household final consumption expenditure as a percentage of GDP suggests that domestic consumption plays a significant role in driving economic activity in Honduras.

Investment

Foreign direct investment, net (BoP, current US$) in Honduras is below the attribute average, with a value of -373,027,854.89. Honduras ranks 84 out of 169 countries in this category.

Foreign direct investment, net inflows (BoP, current US$) for Honduras is also below the average, at 236,016,866.16. The country ranks 111 out of 182 nations.

Foreign direct investment, net inflows (% of GDP) is below average for Honduras, with a value of 0.99%. Honduras ranks 118 out of 178 countries included in the data.

Foreign direct investment, net outflows (BoP, current US$) in Honduras is significantly below average, at -137,010,988.73. The country ranks 137 out of 156 nations.

Foreign direct investment, net outflows (% of GDP) for Honduras is also below average, with a value of -0.57%. Honduras ranks 134 out of 155 countries in this category.

Portfolio Investment, net (BoP, current US$) in Honduras is below the average at -88,819,775.80. Honduras ranks 103 out of 159 countries.

Portfolio investment, bonds (PPG + PNG) (NFL, current US$) for Honduras is notably below the average, with a value of 100,000,000. The country ranks 33 out of 59 nations in this attribute.

Summary

Honduras exhibits below-average performance in key macroeconomic indicators related to foreign direct investment and portfolio investment. The country's net foreign direct investment, both inflows and outflows, as well as portfolio investment, are all below average compared to other nations. These indicators are crucial as they reflect the level of international financial activity and investor confidence in the country, influencing its economic growth and development prospects.

Debt

- Total debt service (% of GNI): Honduras's value of 6.87% is above the average of 5.98%. It is ranked 38 out of 120 countries.

- Public and publicly guaranteed debt service (% of GNI): Honduras's value of 5.07% is significantly above the average of 2.84%. It is ranked 20 out of 120 countries.

- External debt stocks (% of GNI): Honduras's value of 49.91% is below the average of 65.42%. It is ranked 67 out of 120 countries.

- Debt service on external debt, total (TDS, current US$): Honduras's value of $1,523,149,795.5 is below the average of $9,811,195,839.23. It is ranked 54 out of 123 countries.

- Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Honduras's value of $1,123,997,906.3 is significantly below the average of $3,310,612,057.60. It is ranked 43 out of 123 countries.

- External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Honduras's value of $8,588,775,786 is significantly below the average of $28,695,879,144.98. It is ranked 59 out of 123 countries.

- External debt stocks, private nonguaranteed (PNG) (DOD, current US$): Honduras's value of $1,184,200,000 is significantly below the average of $33,734,699,285.22. It is ranked 67 out of 91 countries.

- External debt stocks, total (DOD, current US$): Honduras's value of $11,065,113,770.3 is significantly below the average of $73,845,530,111.82. It is ranked 66 out of 123 countries.

Summary

Honduras's key macroeconomic indicators related to debt service and external debt stocks reflect a relatively favorable position compared to global averages. The country's lower debt service on external debt, both in total and for public and publicly guaranteed debt, along with lower external debt stocks, signify a manageable debt burden and a lower dependency on external financing. This is important as it indicates Honduras's ability to meet its debt obligations without excessive strain on its economy, allowing for greater financial stability and potential for sustainable economic growth.

Broad Trade Attributes

Trade (% of GDP): Honduras's trade as a percentage of GDP is 85.62%, which is above the average of 82.34%. Honduras ranks 52nd out of 163 countries in this attribute.

Merchandise trade (% of GDP): Honduras's merchandise trade as a percentage of GDP is 75.27%, significantly higher than the average of 60.01%. Honduras ranks 41st out of 186 countries in this attribute.

Trade in services (% of GDP): Honduras's trade in services as a percentage of GDP is 15.92%, below the average of 24.63%. Honduras ranks 85th out of 171 countries in this attribute.

External balance on goods and services (current US$): Honduras has an external balance on goods and services of -3,676,695,855.78 USD, which is below the average of 3,405,509,011.13 USD. Honduras ranks 130th out of 163 countries in this attribute.

External balance on goods and services (% of GDP): Honduras's external balance on goods and services as a percentage of GDP is -15.43%, lower than the average of -5.97%. Honduras ranks 129th out of 163 countries in this attribute.

Summary

Honduras has a high trade percentage of GDP, with both merchandise trade and trade in services significantly contributing to its economy. However, the country struggles with a negative external balance on goods and services, indicating an imbalance in trade. This could lead to increased dependency on foreign investments and loans to sustain its economy, potentially impacting its long-term economic stability and sovereignty.

Net Trade

- Current account balance (BoP, current US$): Honduras has a current account balance of $665,854,481.88, which is below the average of $1,443,864,831.49. Honduras ranks 48th out of 170 countries in this attribute.
- Current account balance (% of GDP): Honduras's current account balance is 2.79% of its GDP, higher than the average of -2.36%. Honduras ranks 40th out of 170 countries.
- Net trade in goods and services (BoP, current US$): Honduras has a net trade deficit of $3,671,066,028.02, significantly below the average of $2,604,730,003.57. Honduras ranks 134th out of 171 countries.
- Net primary income (BoP, current US$): Honduras has a net primary income of -$1,646,016,129.35, below the average of -$903,807,529.74. Honduras ranks 117th out of 170 countries.
- Net secondary income (BoP, current US$): Honduras's net secondary income is $5,982,936,639.25, substantially higher than the average of -$269,227,340.40. Honduras ranks 20th out of 170 countries.
- Net trade in goods (BoP, current US$): Honduras has a net trade deficit of $3,831,625,592.45, well below the average of $1,302,831,005.68. Honduras ranks 134th out of 171 countries.
- Net capital account (BoP, current US$): Honduras's net capital account stands at $370,661,981.95, above the average of $136,543,824.05. Honduras ranks 29th out of 159 countries.
- Net financial account (BoP, current US$): Honduras has a net financial account of $1,442,675,131.29, significantly above the average of -$469,840,994.63. Honduras ranks 38th out of 170 countries.

Summary

Honduras maintains a positive current account balance and a net secondary income significantly higher than the global average, demonstrating its ability to attract foreign exchange through non-productive sources. However, the country faces challenges with a notable trade deficit and negative net primary income. The above-average net financial account indicates strong foreign investment inflows, which can support economic growth and development initiatives in Honduras.

Broad Export Attributes

- Honduras' Exports of goods, services and primary income amount to $6,392,673,893.64, which is significantly below the average of $146,238,908,936.30. Honduras ranks 106 out of 170 countries in this attribute.
- The country's Exports of goods and services are $6,268,819,095.26, also falling below the average of $122,938,540,059.78. Honduras ranks 104 out of 170 countries in this category.
- Honduras' Exports of goods and services, totaling $8,362,289,281.28, continue to be lower than the average of $129,596,864,610.19. This puts Honduras at a rank of 90 out of 163 countries.
- In terms of Exports of goods and services as a percentage of GDP, Honduras stands at 35.09%, slightly below the average of 38.19%. The country is ranked 67 out of 163 nations.
- Honduras' Goods exports are valued at $4,291,559,020.90, well under the average of $93,310,581,697.39. The country ranks 109 out of 171 in this aspect.
- International tourism receipts as a percentage of total exports in Honduras are at 3.01%, lower than the average of 9.74%. The country ranks 67 out of 120 countries in this regard.
- Honduras' ICT goods exports as a percentage of total goods exports are at 0.30%, significantly below the average of 3.81%. Honduras is ranked 85 out of 142 countries in this category.

Summary

Honduras' export performance across various categories falls below global averages, indicating room for potential growth and improvement in diversifying its export base. The country's lower ranking in key export indicators highlights a need for enhanced competitiveness and efficiency in its trade sector to boost economic development and increase global market share. Addressing these gaps could help Honduras capitalize on its export potential and strengthen its position in the global economy.

Merchandise Exports

- Merchandise exports (current US$): Honduras has a focus country value of $7,683,000,000, which is significantly below the attribute average of $89,542,711,229.94. Honduras ranks 92 out of 187 countries in this attribute data.
- Agricultural raw materials exports (% of merchandise exports): Honduras's value of 0.93% is below the attribute average of 2.97%. The country ranks 86 out of 151 countries.
- Food exports (% of merchandise exports): Honduras excels in this attribute with a value of 61.52%, far above the average of 24.06%. It ranks impressively at 15 out of 152 countries.
- Fuel exports (% of merchandise exports): Honduras's percentage of 0.01% is significantly lower than the average of 13.70%. The country ranks 140 out of 147 countries.
- Ores and metals exports (% of merchandise exports): Honduras's value of 3.16% is below the average of 9.10%, ranking 78 out of 152 countries.
- Merchandise exports by the reporting economy, residual (% of total merchandise exports): The country's value of 0.62% is below the average of 3.20%. Honduras ranks 67 out of 166 countries in this aspect.

Summary

Honduras has a comparatively low value in merchandise exports, ranking 92nd globally. However, it excels in food exports, ranking 15th worldwide. This indicates a potential strength and competitive advantage in the food export sector for Honduras. Diversifying export products beyond food could help improve the country's overall export performance and potentially boost its economic growth and stability.

Technology Exports

Manufactures exports (% of merchandise exports): Honduras exports account for 31.07% of its merchandise exports, which is below the average of 42.62%. This places Honduras at rank 86 out of 152 countries.

High-technology exports (current US$): Honduras has high-tech exports amounting to $58,998,495, significantly below the average of $16,655,934,078.80. Honduras is ranked 87 out of 151 countries for this indicator.

High-technology exports (% of manufactured exports): Honduras's high-tech exports account for 4.07% of its manufactured exports, below the average of 10.15%. This places Honduras at rank 95 out of 150 countries.

Medium and high-tech exports (% manufactured exports): Honduras's medium and high-tech exports represent 34.73% of its manufactured exports, slightly above the average of 34.29%. Honduras is ranked 69 out of 149 countries in this aspect.

Summary

Honduras lags behind global averages in key macroeconomic indicators related to exports. With lower percentages in high-technology and manufactured exports, the country ranks relatively lower compared to a significant number of countries. This indicates a potential lack of diversification in Honduras' export portfolio, which could hinder its economic growth and competitiveness on the global stage.

Service Exports

- Service exports (BoP, current US$): Honduras' value of 1,977,260,074.36 is significantly below the average of 28,917,292,503.82. Honduras ranks 89th out of 171 countries in this attribute.
- ICT service exports (BoP, current US$): With 153,345,181.05, Honduras' value is well below the average of 4,578,501,153.77. The country ranks 83rd out of 166 nations.
- ICT service exports (% of service exports, BoP): Honduras' value of 7.76% is below the average of 11.75%. The country ranks 92nd out of 166 countries.
- Communications, computer, etc. (% of service exports, BoP): Honduras excels in this area with 87.10%, above the average of 45.85%. The country ranks 7th out of 169 nations.
- Transport services (% of service exports, BoP): At 4.88%, Honduras is below the average of 21.80%. The country ranks 147th out of 169 nations.
- Travel services (% of service exports, BoP): Honduras' value of 7.83% is less than the average of 26.40%. The country ranks 130th out of 167 countries.
- Insurance and financial services (% of service exports, BoP): Honduras performs below average at 0.19%, compared to 6.46%. The country ranks 156th out of 161 nations.

Summary

Honduras shows below-average performance in key macroeconomic indicators related to service exports and ICT service exports, ranking below average in most categories. The country excels in the Communications, computer, etc. category, ranking 7th out of 169 nations. These indicators are important as they reflect Honduras' competitiveness and specialization in different service sectors, highlighting areas where improvements or diversification may be needed to enhance overall economic performance and global market presence.

Commercial Service Exports

Commercial service exports in Honduras amount to $1,924,214,140.97, ranking 89th out of 171 countries. This is significantly below the average of $28,508,218,402.80.

Travel services contribute 8.05% to commercial service exports in Honduras, which is lower than the average of 27.89%. Honduras ranks 130th out of 167 countries for this metric.

Honduras excels in computer, communications, and other services, with this category constituting 86.74% of its commercial service exports. This places Honduras at rank 5 out of 169 countries, far above the average of 42.44%.

Contrastingly, Honduras lags behind in the insurance and financial services sector, contributing only 0.20% to commercial service exports compared to the average of 6.97%. This places Honduras at rank 156 out of 161 countries.

Transport services contribute 5.01% to commercial service exports in Honduras, ranking 148th out of 169 countries. This percentage is notably lower than the average of 23.37%.

Summary

Honduras demonstrates strength in computer, communications, and other services, comprising a significant portion of its commercial service exports. However, the country falls short in sectors such as travel services and insurance/financial services, performing below the global average. This analysis is crucial as it highlights areas where Honduras can potentially capitalize on its strengths and improve upon its weaknesses to enhance its overall economic performance and competitiveness in the global market.

Broad Import Attributes

Imports of goods and services (current US$): Honduras' value of 12,038,985,137.0609 is significantly below the average of 126,191,355,599.06197. Honduras ranks 86th out of 163 countries in this attribute.

Imports of goods and services (% of GDP): Honduras' value of 50.52% is above the average of 44.15%. Honduras ranks 46th out of 163 countries in this attribute.

International tourism, expenditures (% of total imports): Honduras' value of 2.31% is below the average of 3.98%. Honduras ranks 85th out of 131 countries in this attribute.

ICT goods imports (% total goods imports): Honduras' value of 4.79% is below the average of 6.85%. Honduras ranks 79th out of 143 countries in this attribute.

Goods imports (BoP, current US$): Honduras' value of 8,123,184,613.34673 is significantly below the average of 92,007,788,027.16908. Honduras ranks 94th out of 171 countries in this attribute.

Imports of goods and services (BoP, current US$): Honduras' value of 9,939,885,123.27547 is significantly below the average of 120,321,577,988.12045. Honduras ranks 96th out of 170 countries in this attribute.

Imports of goods, services and primary income (BoP, current US$): Honduras' value of 11,709,756,051.0038 is significantly below the average of 144,514,428,722.27856. Honduras ranks 95th out of 170 countries in this attribute.

Summary

Honduras' key macroeconomic indicators for imports of goods and services present a consistent trend of being significantly below global averages across various categories such as total imports, ICT goods imports, and goods imports. This indicates a lower level of economic integration and trade volume compared to the global average, potentially highlighting limitations in market access and competitiveness for the country in the international trade arena. Addressing these import-related challenges is essential for Honduras to enhance its economic growth, increase diversification, and strengthen its position in the global market.

Merchandise Imports

1. Merchandise imports (current US$): Honduras has a focus country value of $10,253,000,000 which is significantly below the attribute average of $89,385,605,263.15. Honduras ranks 89th out of 190 countries in the dataset for this attribute.

2. Manufactures imports (% of merchandise imports): With a value of 62.73%, Honduras falls slightly below the attribute average of 66.76%. It ranks 106th out of 152 countries in this category.

3. Agricultural raw materials imports (% of merchandise imports): Honduras imports 1.32% of agricultural raw materials, slightly above the attribute average of 1.27%. It ranks 59th out of 152 countries for this metric.

4. Food imports (% of merchandise imports): Honduras imports 21.81% of food products, which is notably higher than the attribute average of 15.89%. The country ranks 31st out of 152 nations in this aspect.

5. Fuel imports (% of merchandise imports): With a value of 13.78%, Honduras' fuel imports as a percentage of merchandise imports are higher than the average of 11.38%. It ranks 49th out of 152 countries in this context.

6. Ores and metals imports (% of merchandise imports): Honduras only imports 0.35% of ores and metals, significantly lower than the average of 2.57%. This places Honduras at 151st out of 152 countries in the dataset.

7. Merchandise imports by the reporting economy, residual (% of total merchandise imports): Honduras' value of 0.18% is considerably below the attribute average of 2.51%. It ranks 113th out of 180 countries in this category.

Summary

Honduras's key macroeconomic indicators show a dependency on food imports, which significantly exceed the global average. The country also exhibits low imports of ores and metals compared to other nations. These findings are crucial as they highlight Honduras's reliance on food imports, indicating potential vulnerabilities in food security, while also showcasing limited diversification in its imports, which could impact its industrial and infrastructure development.

Service Imports

For Service imports (BoP, current US$), Honduras has a value of approximately $1.82 billion, which is significantly below the average of around $27.62 billion. This places Honduras at rank 100 out of 171 countries included in the data.

Communications, computer, etc. (% of service imports, BoP) in Honduras is at 30.67%, lower than the average of 44.40%. Honduras ranks 126 out of 169 countries in this attribute.

Honduras excels in Transport services (% of service imports, BoP) with a value of 51.69%, surpassing the average of 32.90%. This places Honduras at rank 25 out of 169 countries.

Travel services (% of service imports, BoP) in Honduras account for 7.32%, below the average of 14.14%. This puts Honduras at a rank of 118 out of 169 countries.

Regarding Insurance and financial services (% of service imports, BoP), Honduras's value is 10.31%, higher than the average of 8.53%. Honduras holds a rank of 48 out of 169 countries for this attribute.

Summary

Honduras stands out in the Transport services sector compared to its peers, ranking 25th out of 169 countries, with a value of 51.69% which exceeds the average of 32.90%. However, the country falls behind in Communications, computer, etc. services where it ranks 126th out of 169 countries, with a value of 30.67% below the average of 44.40%.

These findings are crucial as they highlight Honduras's strengths and weaknesses in key service import sectors, indicating areas where the country may need to focus on improvement to enhance its overall economic competitiveness and performance in the global market.

Commercial Service Imports

For Commercial service imports (current US$), Honduras has a value of 1,788,519,798.29 which is significantly below the average of 27,102,746,128.60. Honduras ranks 99 out of 171 countries in this attribute.

In terms of Computer, communications, and other services (% of commercial service imports), Honduras's value of 29.58% is below the average of 41.71%. Honduras is ranked 115 out of 169 countries in this category.

Regarding Insurance and financial services (% of commercial service imports), Honduras performs better with a value of 10.48%, above the average of 8.85%. Honduras ranks 49 out of 169 countries for this attribute.

For Transport services (% of commercial service imports), Honduras excels with a value of 52.51%, surpassing the average of 34.71%. Honduras holds the 25th rank out of 169 countries in this aspect.

Lastly, with Travel services (% of commercial service imports), Honduras falls below average at 7.44% compared to the average of 14.73%. Honduras is ranked 120 out of 169 countries concerning this metric.

Summary

In analyzing key macroeconomic indicators for Honduras, it is evident that the country tends to have lower values in Commercial service imports, Computer, communications, and other services, and Travel services compared to the global average. However, Honduras excels in Insurance and financial services as well as Transport services, performing above the average. These indicators are crucial as they reflect Honduras' strengths and weaknesses in different sectors of its economy, providing insights for policymakers and investors to focus on areas that require improvement and those that can be leveraged for further economic development.

Infrastructure

Container port traffic in Honduras is 700,066 TEUs, significantly below the average of 6,907,110 TEUs. Honduras ranks 74th out of 110 countries in this statistic.

Summary

Honduras' container port traffic of 700,066 TEUs is notably lower than the global average of 6,907,110 TEUs, placing it 74th out of 110 countries. This indicates a relatively smaller volume of goods being imported and exported through its ports compared to other nations, highlighting potential challenges in international trade competitiveness and economic growth.

Information Technology Infrastructure

Secure Internet servers: Honduras has 985 secure internet servers, which is significantly below the attribute average of 458,294. Honduras ranks 115 out of 193 countries in this aspect.

Secure Internet servers (per 1 million people): With 97.32 secure internet servers per 1 million people, Honduras is well below the attribute average of 14,067.17. The country ranks 134 out of 193 nations in this metric.

Individuals using the Internet (% of population): Honduras has 43.49% of its population using the internet, below the attribute average of 64.77%. This places Honduras at rank 137 out of 180 countries.

Fixed broadband subscriptions: Honduras has 396,916 fixed broadband subscriptions, significantly lower than the attribute average of 6,591,956. Honduras ranks 94 out of 185 countries for fixed broadband subscriptions.

Mobile cellular subscriptions: With 6,960,654 mobile cellular subscriptions, Honduras falls below the attribute average of 42,526,463.87. In this category, Honduras ranks 105 out of 193 countries.

Summary

Honduras lags behind the global average in key internet and telecommunication indicators such as secure internet servers, internet usage, fixed broadband subscriptions, and mobile cellular subscriptions. These statistics indicate that Honduras may be facing challenges in terms of digital infrastructure development and access to online connectivity compared to many other countries worldwide. Improving these metrics is crucial for Honduras to enhance its technological capabilities, facilitate communication, and support economic growth in an increasingly interconnected world.

Energy Consumption

1. Renewable energy consumption (% of total final energy consumption): Honduras has a renewable energy consumption of 50.09% which is above the average of 32.18%. This places Honduras at rank 47 out of 191 countries in the dataset for this attribute.

2. CO2 emissions (kt): Honduras emits 8835.4 kt of CO2, which is significantly below the average of 171895.94 kt. This places Honduras at rank 106 out of 188 countries in the dataset for this attribute.

Summary

Honduras stands out for its significantly high renewable energy consumption at 50.09%, surpassing the global average of 32.18%. This places the country at a respectable rank of 47 out of 191 nations in the dataset. Additionally, Honduras emits a relatively low amount of CO2 at 8835.4 kt, well below the average of 171895.94 kt, positioning it at rank 106 out of 188 countries. These indicators are crucial as they showcase Honduras' commitment to sustainable energy practices and environmental conservation, potentially attracting investment and fostering a positive global image.

Government Balance Sheet

1. Total reserves (% of total external debt): Honduras' value of 73.55% exceeds the average of 66.13%. Honduras ranks 22 out of 102 countries in this attribute data.
2. Reserves and related items (BoP, current US$): Honduras' value of 1,912,652,768.03 USD is slightly below the average of 1,924,407,186.58 USD. Honduras ranks 29 out of 171 countries in this attribute data.
3. Total reserves minus gold (current US$): Honduras' value of 8,096,529,090.54 USD is significantly below the average of 74,221,588,171.61 USD. Honduras ranks 74 out of 161 countries in this attribute data.
4. Total reserves (includes gold, current US$): Honduras' value of 8,138,457,727.66 USD is well below the average of 85,708,019,773.47 USD. Honduras ranks 77 out of 161 countries in this attribute data.
5. Total reserves in months of imports: Honduras' value of 8.34 months exceeds the average of 7.10 months. Honduras ranks 41 out of 151 countries in this attribute data.

Summary

Honduras generally performs below average in key macroeconomic indicators related to reserves compared to a global dataset. Despite having a higher percentage of total reserves in comparison to total external debt, the country's total reserves in terms of amount fall short of the global average. This indicates that while Honduras may have a strong buffer against external debt shocks, the actual reserve amount is relatively low. It is important for Honduras to closely monitor and manage its reserves to ensure financial stability and mitigate potential economic risks in the future.

Government Revenue

Revenue, excluding grants (% of GDP): Honduras has a value of 21.77%, below the average of 27.02%. It ranks 75th out of 122 countries.

Grants and other revenue (% of revenue): Honduras shows 15.66%, lower than the average of 23.54%. It ranks 63rd out of 108 countries.

Social contributions (% of revenue): Honduras's value of 18.37% falls below the average of 22.29%. It ranks 49th out of 81 countries.

Taxes on goods and services (% of revenue): Honduras has a value of 43.38%, higher than the average of 31.82%. It ranks 17th out of 122 countries.

Taxes on international trade (% of revenue): Honduras's value stands at 2.62%, below the average of 6.24%. It ranks 64th out of 101 countries.

Other taxes (% of revenue): Honduras reports 0.47%, below the average of 2.12%. It ranks 71st out of 106 countries.

Taxes on income, profits and capital gains (% of revenue): Honduras displays 19.51%, lower than the average of 24.66%. It ranks 74th out of 119 countries.

Summary

Honduras performs below the global average across key macroeconomic indicators related to revenue composition. Notably, the country's reliance on taxes on goods and services is higher than average, indicating a dependency on consumption-related taxes for revenue generation. Conversely, Honduras's lower values in social contributions and taxes on income, profits, and capital gains suggest potential areas for policy focus to diversify revenue streams and improve fiscal stability.

Taxes

Analysis of macroeconomic indicators for Honduras:

Summary

Overall, Honduras exhibits lower tax revenue as a percentage of GDP, particularly in taxes on income, profits, and capital gains compared to the global average. Furthermore, the country imposes lower customs and import duties as well as tariff rates than the average. These indicators suggest that Honduras may have a less robust taxation system and trade policies compared to many other countries, potentially impacting its ability to generate revenue and regulate trade efficiently.

Government Expenses

1. Expense (% of GDP): Honduras's expense as a percentage of GDP is 23.91%, which is below the average of 31.69%. With a rank of 84 out of 123 countries, Honduras seems to have relatively lower expenses compared to other nations in the dataset.

2. Compensation of employees (% of expense): Honduras allocates 48.59% of its expenses towards employee compensation, significantly higher than the average of 24.70%. This places Honduras at an impressive rank of 6 out of 123 countries, indicating a strong focus on compensating employees.

3. Goods and services expense (% of expense): Honduras spends 16.06% of its expenses on goods and services, slightly above the average of 14.77%. With a rank of 43 out of 122 countries, Honduras falls in the mid-range in terms of this expenditure.

4. Interest payments (% of expense): The country dedicates 9.95% of its expenses to interest payments, higher than the average of 6.85%. Honduras holds a rank of 29 out of 121 countries, reflecting a relatively high proportion of expenses going towards interest.

5. Other expense (% of expense): Honduras's other expenses account for 8.20% of its total expenses, slightly below the average of 8.29%. The country ranks 47 out of 120 countries, indicating a fairly typical level of other expenses compared to its peers.

6. Subsidies and other transfers (% of expense): Honduras spends 17.01% of its expenses on subsidies and transfers, significantly below the average of 43.29%. With a rank of 111 out of 121 countries, Honduras appears to have a lower focus on subsidies and transfers compared to the dataset.

Summary

Honduras demonstrates prudent financial management by maintaining below-average overall expenses as a percentage of GDP, ranking 84 out of 123 countries. The country's notable emphasis on employee compensation, allocating 48.59% of expenses towards this sector (ranking 6 out of 123 countries), showcases a strong commitment to human capital. However, the relatively higher proportion of expenses dedicated to interest payments (9.95%, rank 29 of 121 countries) may warrant further examination to ensure long-term financial sustainability.

These findings are crucial as they provide insights into Honduras's fiscal priorities and allocation of resources. The focus on compensating employees can enhance workforce productivity and motivation, contributing to economic growth. Simultaneously, the higher percentage of expenses directed towards interest payments may indicate a reliance on borrowed funds, potentially increasing fiscal vulnerability and debt burden over time. Monitoring and potentially optimizing interest payment allocations could strengthen the country's financial resilience and stability in the long run.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Food exports (% of merchandise exports) 15/152
Communications, computer, etc. (% of service exports, BoP) 7/169
Computer, communications and other services (% of commercial service exports) 5/169
Compensation of employees (% of expense) 6/123

Ranks in Bottom Decile For:

Attribute Rank/Total
Death rate, crude (per 1,000 people) 183/192
Oil rents (% of GDP) 112/117
Mineral rents (% of GDP) 85/86
Fuel exports (% of merchandise exports) 140/147
Insurance and financial services (% of service exports, BoP) 156/161
Insurance and financial services (% of commercial service exports) 156/161
Ores and metals imports (% of merchandise imports) 151/152
Subsidies and other transfers (% of expense) 111/121