The trade-weighted average tariff rate is 6.6 percent. Additional barriers impede imports of certain agricultural goods. The regulatory systems may impede foreign investment. The financial sector remains relatively stable and continues to expand.
Is Honduras economy good or bad?
During recent years, Honduras has registered the second highest economic growth rates in Central America, only behind Panama and well above the average in Latin America and the Caribbean. However, the country faces high levels of poverty and inequality.
Why is Honduras economy so bad?
Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing.
Is Honduras a stable country?
Honduras has a Human Development Index of 0.625, classifying it as a nation with medium development. When adjusted for income inequality, its Inequality-adjusted Human Development Index is 0.443. … The nation had a relatively high political stability until its 2009 coup and again with the 2017 presidential election.
What kind of economy does Honduras?
Honduras has a mixed economic system which includes a variety of emerging private freedom, combined with centralized economic planning and government regulation.
What does Honduras economy rely on?
The economy of Honduras is based mostly on agriculture, which accounts for 14% of its gross domestic product (GDP) in 2013. The country’s leading export is coffee (US$340 million), which accounted for 22% of the total Honduran export revenues.
Why is Honduras the poorest country?
Part of the reason that poverty in Honduras is so prevalent is the high inequality within the country. Of its impoverished residents, 60.1% live in rural areas and 38.4% live in urban areas. This results in one of the smallest middle classes in all of Central America.
Is Honduras a very poor country?
Honduras is a low middle-income country that faces major challenges, with more than 66 percent of the population living in poverty in 2016, according to official data. In rural areas, approximately one out of 5 Hondurans live in extreme poverty, or on less than US$1.90 per day.
What is the poorest country in Central America?
Honduras: Is the second-poorest country in Central America, with 60% living in poverty according to the CIA World Factbook.
Currency by country.
|Panama||Balboa / US dollar|
Is Honduras a first world country?
The “First World” countries were the largely democratic NATO countries such as the United States, Japan, and much of Western Europe.
Third World Countries 2021.
|Country||Human Development Index||2021 Population|