The Economy of Honduras has as its main base the production of Banana, Coffee and African Palm in the region. Its main economic sector is agriculture, followed by mining and maquila. The Honduran economy is the eighteenth economy of Latin America in terms of nominal gross domestic product (GDP), and the eighteenth in terms of GDP at purchasing power parity (PPP) prices.
Honduran
Economy
In the twentieth century the economic activity of Honduras at the international level increased considerably.
Beginning in 1950, the Honduran government encouraged agricultural modernization and diversification of exports by spending heavily on transport and communications infrastructure, agricultural credit, and technical assistance.
1913-1929
XX Century
Since 1950
T
he data published annually by the International Monetary Fund, show that until 2015, the total economy of Honduras had a rise, reaching to be at 20,295 million dollars (Gross Domestic Product). In the question about the division of this GDP by the number of inhabitants of the country, show that Honduras has a GDP per capita of 2,406 dollars (nominal) and a GDP per capita of 4,868 dollars (in PPA)
Honduras is one of the main producers of Banana, Coffee and African Palm in the region.
Between 1913 and 1929, its agricultural exports increased from 3 million dollars (2 million banana sales) to 25 million dollars (21 million in banana sales) to the United States.
02
1960s
During the 1960s, industrial growth was stimulated by the creation of the Central American Common Market (CACM). As a result of the reduction of barriers to regional trade and the construction of a high common external tariff, some products manufactured in Honduras, such as soaps, were sold successfully in other countries of Central America.