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HONDURAS Tenders




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Capital Tegucigalpa
ISO 3166 Code HN
Population 8,725,111
Area, Sq KM 112,492
Currency Honduran lempira
Official Language Spanish
GDP, Billion USD 17,967
GDP Growth Rate, % 3.0
Inflation, Avg CP, % Chng NA
Interest Rates, % N/A
Unemployement Rate, % 4.5
Exchange Rate, 1 USD Equals 21.94
International dial code 503
Time Zone GMT-06:00
Internet TLD .hn

Honduras is officially known as the Republic of Honduras. Honduras is a republic and is located in Central America. It was referred to as Spanish Honduras t times to distinguish it from the British Honduras, which later became the modern-day state of Belize. The country is bordered on its west by Guatemala, El Salvador on its southwest, Nicaragua on the southeast, the Pacific Ocean at the Gulf of Fonseca on the south, a large inlet of the Caribbean Sea on the north along withthe Gulf of Honduras. The country covers an area of about 112,492 square kilometers and its population was recorded to be more than 8 million. The northern portion of the country is a part of the Western Caribbean zone and the country is known in the world for its rich natural resources. Honduras was a home to various important Mesoamerican cultures before the region was conquered by Spain in the sixteenth century. The Spanish introduced the Spanish language as well as Roman Catholicism along with various other customs that have blended well with the indigenous culture of the country. In the year 1821, the country obtained its independence and has been a republic ever since. It has consistently endured a lot of political instability as well as social strife and has remained one of the poorest countries in the entire Western Hemisphere. Some of the natural resources available in this country include including various minerals, sugar cane, coffee, tropical fruit. The country’s growing textiles industry serves the international market to a great extent. The economy of the country has continued to grow gradually and slowly, but the country has managed to keep the distribution of wealth very polarized. Economic growth in the past few years of this country has averaged 7% a year, which is believed to be one of the highest rates in Latin America. However, 50% of the total population which means approximately 3.7 million people are still considered to remain below the poverty line. The rate of unemployment is recorded at 27.9 percent and that there are more than 1.2 million unemployed people. Honduras is the sixth least developed or poorest country in Latin America as per the Human Development Index. World Bank and the International Monetary Fund also declared Honduras as one of the heavily indebted poor countries. The country was even made eligible for the debt relief in the year 2005. Several minerals are produced in the country with the help of the foreign companies that own the mines.

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