When researching Honduras's Unemployment Rate I kept Getting a rise from 12% way up to 30% and then somehow all the way down to 3.2% and 5.1%. So i looked into it and many informational sites have those same figures. I realized after reading an article - Here from Honduras Weekly - that those figures are wrong and Unemployment is skyrocketing and is currently at 51%. They believe that it will soon reach 70% and higher if the economy continues as it is. The problems they had with their former communist leader, Manuel Zelaya, seem to still be present as their current leader, Porforio Lobo Sosa, tries to piece the Honduran economy back together without the help of the OAS (Organization of American States). Still Countries are boycotting Honduras and President Lobo as to not notice him as the president of Honduras.
NY Times
Economia Hondureño
Thanks for viewing my wonderful and colorful blog on Honduran Economics. I hope this gives you good insight on the economic situation in Honduras. "Truth lies at the convergence of independent streams of evidence." - Karl Deutsch
Sunday, May 15, 2011
Labor
Labor Force: 3.394 Million
Agriculture: 39.2%
Industry 20.9%
Services 39.8%
Total % Of GDP:
Agriculture: 12.4%
Industry: 26.9%
Services: 60.8%
Unemployment Rate: 51%
CIA - Worldfactbook
Agriculture: 39.2%
Industry 20.9%
Services 39.8%
Total % Of GDP:
Agriculture: 12.4%
Industry: 26.9%
Services: 60.8%
Unemployment Rate: 51%
CIA - Worldfactbook
Imports and Exports
Imports: 8.878 Billion
Machinery and transport equipment, industrial raw materials, chemical products, fuels, and foodstuffs
Import Partners:
US 46.81%, Guatemala 8.92%, El Salvador 7.13%, Mexico 5.54%, Costa Rica 4.91%
Exports: 5.879 Billion
Apparel, coffee, shrimp, wire harnesses, cigars, bananas, gold, palm oil, fruit lobster, lumber
Export Partners:
US 59.6%, El Salvador 5.61%, Guatemala 5.28%, Mexico 4.19%, Germany 4.04%
CIA - Worldfactbook
Machinery and transport equipment, industrial raw materials, chemical products, fuels, and foodstuffs
Import Partners:
US 46.81%, Guatemala 8.92%, El Salvador 7.13%, Mexico 5.54%, Costa Rica 4.91%
Exports: 5.879 Billion
Apparel, coffee, shrimp, wire harnesses, cigars, bananas, gold, palm oil, fruit lobster, lumber
Export Partners:
US 59.6%, El Salvador 5.61%, Guatemala 5.28%, Mexico 4.19%, Germany 4.04%
CIA - Worldfactbook
Wednesday, May 11, 2011
Friday, April 8, 2011
Sunday, March 6, 2011
Imports and Exports
In 1998 Hurricane Mitch hits Honduras directly and becomes the most deadly Hurricane in 200 years.
"At least 70 percent of crops destroyed, including 80 percent of the banana crop. Crop losses estimated at $900 million. Large warehouses and storage rooms for coffee flooded. Maize and corn crops devastated. The damage by Mitch to Honduran agricultural production will take years for recovery."
Here is a graph of Supply and Demand before and after Hurricane Mitch.
The supply dropped greatly so naturally the demand is greater. The crops are still recovering from the devastating storm. The banana crop is at about 57% of where it was before the hurricane.
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