Published: Monday, 21th October 2024
In this page, you will find a detailed guide on the standard of living in Honduras, covering various aspects such as economy, health system factors, environment, import-export, taxes and finances.
Indicators | Honduras |
---|---|
Gross Domestic Product (GDP) (2023) | $33.992 billion USD |
GDP Per Capita (2023) | 3,245 USD |
GINI Ratio (2023) | 0.52 |
Inflation on Consumer Prices (2023) | 6.66 % anually |
Central Government Debt (2023) | Yet to Update |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Honduras is $33.992 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
Indicators | Honduras |
---|---|
Human Development Index (HDI) (2023) | 0.621 |
Human Capital Index (HCI) (2023) | 0.48 |
Literacy Rate (2023) | 88.51% (15 years+ above age) |
Life Expectancy Ratio (2023) | 69 years |
Healthy Life Expectancy Ratio (2023) | 60 years |
Poverty Ratio (2023) | 48% of total Population |
Unemployment Rate (2023) | 6.06% of total labor force |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living. This is expressed as a value between 0 and 1. The higher a country's human development, the higher its HDI value.
Indicators | Honduras |
---|---|
Gross National Expenditure (2023) | 123.93% of GDP |
Total Health Expenditure (2023) | 9.16% of GDP |
Research and Development Expenditure (2023) | 0.06% of GDP |
Government Expenditure on Education (2023) | 4.44% of GDP |
International Tourism Expenditure (2023) | 230 million USD |
Number of International Tourists Arrivals (2023) | 669,000 |
Military Expenditure (2023) | 1.53% of GDP |
Indicators | Honduras |
---|---|
Number of Doctors (2023) | 4.89 (Per 10,000 People) |
Number of Nurses (2023) | 7.13 (Per 10,000 People) |
Number of Pharmacists (2023) | Yet to Update |
Available Hospital Beds (2023) | 0.64 (Per 10,000 People) |
Pregnant Women Receiving Prenatal Care (2023) | 96.1% of total Population |
Indicators | Honduras |
---|---|
Agricultural Land (2023) | 35,760 sq km |
Forest Area (2023) | 63,383.10 sq km |
CO2 Emissions (2023) | 0.16 kg per PPP $ of GDP |
Access to Electricity (2023) | 94.4% of total Population |
Access to Internet (2023) | 48.08% of total Population |
Annual Fresh Water Withdrawals (2023) | 1.61 Billion cubic meters |
94.4% of the total Population of Honduras has access to the electricity in their homes.
48.08% of the total Population of Honduras has access to the Internet.
Indicators | Honduras |
---|---|
Time Required to Start a Business (2023) | 42 Days |
New Businesses Registered (2023) | 3,287 (New Businesses) |
New Businesses Registration Density (2023) | 0.48 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023) | 28.1% of GNI Per Capita |
In the year 2023, 3,287 new businesses got registered in Honduras.
It usually takes 42 days in Honduras to register a new business legally and systematically.
Indicators | Honduras |
---|---|
Imports of Goods and Services (2023) | 60.94% of GDP |
Total Fuel Imports (2023) | 14.48% of Merchandise Imports |
Cost to Import Border Compliance (2023) | 482.76 USD |
Time to Import Border Compliance (2023) | 96 Hours |
Cost to Import Documentary Compliance (2023) | 70 USD |
Time to Import Documentary Compliance (2023) | 72 Hours |
Indicators | Honduras |
---|---|
Exports of Goods and Services (2023) | 37.01% of GDP |
Total Fuel Exports (2023) | 0.01% of Merchandise Exports |
Cost to Export Border Compliance (2023) | 601.26 USD |
Time to Export Border Compliance (2023) | 108 Hours |
Cost to Export Documentary Compliance (2023) | 80 USD |
Time to Export Documentary Compliance (2023) | 48 Hours |
Indicators | Honduras |
---|---|
Gross National Savings (2023) | 18.98% of GDP |
Tax Revenue (2023) | 15.07% of GDP |
Taxes on Exports (2023) | 16.29% of Tax Revenue |
Taxes on Goods and Services (2023) | 43.38% of Tax Revenue |
Taxes on International Trade (2023) | 2.62% of Revenue |
Time to Prepare and Pay Taxes (2023) | 203 Hours |
Customs and Other Import Duties (2023) | 3.97% of Tax Revenue |
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