|
|
|
|
| Capital city: |
Tegucigalpa |
| Surface area: |
112,000 sq km |
| Population: |
7.5 million (2007) |
| Official language(s): |
Spanish |
| Head of State & Head of Government: |
President Manuel Zelaya Rosales |
| Australian exports to Honduras: |
A$11,297,000 |
| Australian imports to Honduras: |
A$11,025,000 |
| Honduras' principal export destinations: |
USA, Guatemala, El Salvador |
| Honduras' principal import sources: |
USA, Guatemala, Mexico | (Source: Department of Foreign Affairs and Trade - Country fact sheet) |
 |
|
|
|
Honduras, the second poorest country in Central America, has an extraordinarily unequal distribution of income and high unemployment. The economy relies heavily on a narrow range of exports, notably bananas and coffee, making it vulnerable to natural disasters and shifts in commodity prices; however, investments in the maquila and non-traditional export sectors are slowly diversifying the economy.
Economic growth remains dependent on the US economy its largest trading partner, and will decline in 2009 as a result of reduction in export demand and tightening global credit markets. Remittances represent over a quarter of GDP or nearly three-quarters of exports. The US-Central America Free Trade Agreement (CAFTA) came into force in 2006 and has helped foster investment. Despite improvements in tax collections, the government's fiscal deficit is growing due to increases in current expenditures and financial losses from the state energy and telephone companies.
Key economic indicators and statistics for 2008:
- GDP – US$13.8 billion
- GDP per capita – US$1,797
- Real GDP growth – 4.2 per cent
- Inflation – 12.1 per cent
(Source: Department of Foreign Affairs and Trade - Country fact sheet) |
|
|
|
Political climate
Reinforced by the media and several political watchdog organisations, concerted efforts to protect human rights and civil liberties continue. Organised labor represents approximately eight per cent of the work force and its economic and political influence continues to decline.
Honduras held its seventh consecutive democratic general elections in 2005 to elect a new president, unicameral Congress, and mayors. For the first time, as a result of the newly reformed Electoral Law, voters were able to vote for individual members of Congress, with photos of each candidate on the ballot, rather than party lists. For the electoral period 2006-2010, 31 women were elected to Congress.
Additionally, 27 of these 31 congresswomen chose women as their alternates. In November 2008, successful primaries were held to select the candidates from the Liberal and National parties who will compete for the presidency in November 2009. |
|
|
|
Trade relations and statistics
Major Australian exports to Honduras (2007-08):
- Coated flat-rolled iron and steel – A$6,456,000
- Paper and paperboard – A$403,000
- Rubber tyres, treads and tubes – A$134,000
- Non-electrical machinery and parts – A$82,000
Major Australian imports from Honduras (2007-08):
- Coffee and substitutes – A$7,435,000
- Clothing – A$3,007,000
- Crude vegetable matter – A$246,000
- Measuring and analysing instruments – A$117,000
(Source: Department of Foreign Affairs and Trade - Country fact sheet) |
|
|
|