Honduran President Juan Orlando Hernandez said on Monday that the Central American country's economy has contracted a record 10.5% in 2020 … Breaking news and video. TEGUCIGALPA, Honduras – Honduras president Juan Orlando Hernández announced the immediate roll-out of an economic aid plan to fully address the main needs of the population amid the sanitary emergency caused by COVID-19 and its consequences. Comparative assessments and other editorial opinions are those of U.S. News The economic fall for 2020 far exceeds the country’s previous record in 1954, when the economy contracted 6.5% due to worker strikes. During recent years, Honduras had registered the second highest economic growth rates in Central America, only behind Panama. Americas. Honduras has extensive forests, marine, and mineral resources, although widespread slash and burn agricultural methods continue to destroy Honduran forests. Business News. HONDURAS IN 1993 remained one of the poorest nations in the Western Hemisphere. The Economist offers authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them. Get by Email • RSS. This page provides forecast and historical data, charts, statistics, news and updates for Honduras Population. Dec 7, 2020 2:22 PM. Honduras - The Economy. (Reporting by Gustavo Palencia; Writing by Cassandra Garrison; Editing by Jonathan Oatis). Income stocks usually pay shareholders quarterly, but these companies pay each month. Honduras economy contracts record 10.5% due to virus, hurricanes: Hernandez. It was the second consecutive contraction and the sharpest on record, officially entering into recession as the coronavirus pandemic hit the economy. Results. Honduras's New Economic Plan for Stability and Growth. Honduras on Monday began gradually reopening its economy after almost three months of paralysis during the coronavirus pandemic, even as some doctors … Honduras Blogs, Comments and Archive News on Economictimes.com The economy had deteriorated rapidly, starting in 1989, as the United States Agency for International Development (AID) pointedly interrupted disbursements of its grants to Honduras to signal displeasure with the economic policies of the old government and to push the new government to make economic … © Copyright 2020 — Herring Networks, Inc. All Rights Reserved. July 19, 2019. Honduras 2015 Shrimp Exports Fell 30%. Breaking News, Latest News and Current News from OANN.com. New details released on DOJ subpoena into Hunter Biden business dealings, Authorities discuss who should receive the COVID-19 vaccine first, Mo. Published on 07:28 GMT. Honduras Economic Outlook. In 2017, Honduras faced rising public debt, but its economy has performed better than expected due to low oil prices and improved investor confidence. DALLAS, Dec. 7, 2020 /PRNewswire/ -- Jacobs (NYSE:J) was selected by Honduras Próspera to assist in community planning services to advance economic … Latest news and breaking news from Honduras: Honduras officially the Republic of Honduras (Spanish: República de Honduras), is a republic in Central America. Hurricanes Eta and Iota left more than 150,000 people in Honduras homeless and many lost everything. Honduran Economy Report Released Today. Honduras had a nominal GDP per capita of $2,595.91 in 2018. Honduras Top 10 Exports The country’s GDP growth reached 4.8 percent in 2017, 3.7 percent in 2018 and 2.7 percent in 2019, above the average in Central America and well above the average in Latin America and the Caribbean (LAC). By Catracha Hondurena on November 9, 2009 economy, honduras, minimum wage, political crisis Financial News. Honduras Industry Sectors: Major Industries. In 2017, Honduras faced rising public debt, but its economy has performed better than expected due to low oil prices and improved investor confidence. Economic Trivia: Honduras has had one of the highest economic growth rates in Latin America over the past few years. Honduras has enjoyed moderate economic growth since 2010 after a sharp decline in 2009 that had occurred due to the global economic downturn and Honduras’ domestic political crisis. TEGUCIGALPA (Reuters) – The Honduran economy is expected to shrink by a record 10.5% this year due to the combined crisis of the coronavirus and two deadly hurricanes last month, President Juan Orlando Hernandez said Monday, its worst performance in more than six decades. Has changing jobs left you with multiple retirement accounts? The Center for Economic and Policy Research released a new report on the Honduran economy today. The latest breaking news, ... Honduras. Image of Dead Immigrant Child Torches America By - Larry Beck. Americas. FILE PHOTO: Flood-affected people get on a boat to cross a street after passage of Storm Eta, in La Lima, Honduras November 7, 2020. The major products manufactured and processed in Honduras are food stuff, beverages, textiles, clothing, chemicals, lumber, and paper products. Manuel Zelaya says he had been ‘unjustly’ detained at Toncontin International Airport … Population for Honduras from International Monetary Fund (IMF) for the International Financial Statistics (IFS) release. Analysts see a big year for bank stocks in 2021. Most industrial plants are located in the urban areas of San Pedro Sula and Tegucigalpa, and the production of capital and heavy intermediate goods is minimal. Breaking News Alerts Enter your email address: ... ‘Not a developing economy’: Biden pressed to maintain Trump’s pressure on China ... saying Honduras had yet to fully recover. Combined with the economic impact of the coronavirus pandemic, weak healthcare, and endemic corruption, damage and property loss caused by Hurricane Eta will bear down on economic activity and constrain the scope for a post-pandemic recovery in 2021. Because of this, the exportation sector is at risk for commodity price shifts and natural disaster. REUTERS/Jorge Cabrera/File Photo, California Do Not Sell My Personal Information Request. The initiative to promote avocado production in Honduras is on course to produce 105,000 avocado seedlings this year, as well the creation of a fully operational seedling traceability and marketing platform. Daily News. Hundreds of thousands at Honduras' shelters after hurricanes. TEGUCIGALPA (Reuters) - The Honduran economy is expected to shrink by a record 10.5% this year due to the combined crisis of the coronavirus … 11, 2020, Investing for Retirement: How to Design A Plan that Anticipates the Unexpected, The Most Important Ages for Retirement Planning: Age 50, The Most Important Ages for Retirement Planning: Age 59 ½, The Most Important Ages for Retirement Planning: Age 65, The Most Important Ages for Retirement Planning: Age 66, The Most Important Ages for Retirement Planning: Age 70 ½. Insane streaming growth and a great lineup get Disney investors excited as DIS gains 13.6%. Walmart is set to receive the coronavirus vaccine to its 5,000+ stores. Smaller percentages went to Asia (3.6%), Oceania mostly Australia (0.6%), and Africa (0.1%). Real estate investors can find opportunities in up and down markets. SAN JOSE, Calif., Oct. 15, 2020 (GLOBE NEWSWIRE) -- Inphi Corporation (NASDAQ: IPHI), a leader in high-speed data movement interconnects, today announced it will release its third quarter 2020 results for the quarter ended September 30, 2020 on Thursday, … Honduras has made significant progress in restoring economic stability and laying the groundwork for sustainable growth since completing its IMF-supported economic program in December 2017. The economy registered modest economic growth of 3.1%-4.0% from 2010 to 2017, insufficient to improve living standards for the nearly 65% of the population in poverty. Honduras Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Honduras Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Adobe reports record earnings. Honduras hurricanes push thousands into homelessness By Jose Cabezas SAN PEDRO SULA, Honduras (Reuters) - Willian Castro and his family huddled on the roof of a banana packing plant for three days as Hurricane Eta raged last month, seeking to escape the torrential rains and floods that swept through his home and thousands of others. Hurricanes Eta and Iota then tore through the region in November, affecting millions of people with massive flooding, destroying infrastructure and claiming at least 100 lives. 1 Min Read. The Honduras government is boosting the economy by backing production of avocados. Honduras economy contracts record 10.5% due to virus, hurricanes- Hernandez. These small changes can yield transformative results in recovering your retirement portfolio. Here's how to capitalize on the thriving small-cap and midcap growth sector. Overview. Rebecca Lake and Debbie CarlsonDec. "The economic damage caused by both storms, and the blow from the pandemic, has caused the Honduran economy to be greatly affected," Honduran Foreign Minister Lisandro Rosales said … REUTERS/Jorge Cabrera/File PhotoReuters. The United Nations has predicted that the economic fallout from the worldwide coronavirus outbreak may end up killing more people than the actual disease itself, a report said Monday. Syndicated Content. The Honduran economy grew 4.8% in 2000, recovering from the Mitch-induced recession (-1.9%) of 1999. ... Honduras economy contracts record 10.5% due to virus, hurricanes: Hernandez. 'Hard Hit' Honduran Economy Tumbles on Virus, Back-To-Back Hurricanes, FILE PHOTO: Flood-affected people get on a boat to cross a street after passage of Storm Eta, in La Lima, Honduras November 7, 2020. Inphi to Report Third Quarter 2020 Financial Results on October 29, 2020. Honduras shrimp exports fell by 31% to $114.4 million through September 2015, year-on-year, according to statistics from the Central Bank… Melon and Watermelon Crops Could Generate 1 Billion Dollars for Honduras Economy. Honduras ex-President Zelaya stopped at airport with bag of money. The people of Honduras rely primarily on just a few exports, primarily coffee and bananas. This page has economic forecasts for Honduras including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Honduras economy. The contraction was worse than a previous estimate by the country's central bank of between 8% and 9% as the impoverished Central American nation struggled under the weight of the pandemic and hurricanes Eta and Iota. Honduras’s homicide rate has fallen significantly in recent years, but the country still has one of the highest murder rates in the world. Ad. “We are hard hit but we are not defeated,” he added. Wealth of Knowledge is a weekly podcast featuring tips and expert insight on all things money: personal finance, careers, investing, real estate and more. Honduras’s economic freedom score is 61.1, making its economy the 93rd freest in the 2020 Index. "We are hard hit but we are not defeated," he added. Hondura's economy shrank 18.5 percent over a year earlier in the second quarter of 2020, following a 1.3 drop in the previous period. This page has economic forecasts for Honduras including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Honduras economy. Stay on top of Honduras latest developments on the ground with Al Jazeera’s fact-based news, exclusive video footage, photos and updated maps. Honduras' economy was paralyzed under months of lockdown provoked by the coronavirus pandemic. T. Rowe Price funds are a great way to add diversification to a retirement portfolio. The economy registered modest economic growth of 3.1%-4.0% from 2010 to 2017, insufficient to improve living standards for the nearly 65% of the population in poverty. Willian Castro and his family huddled on the roof of a banana packing plant for three days as Hurricane Eta raged last month, seeking to escape the torrential rains and floods that swept through his home and thousands of others. A lock ( ) or https:// means you’ve safely connected to the .gov website. In brief. Honduras - Consumption The economy is set to have contracted again in Q3. In August, economic activity fell for the sixth month running, albeit at the softest pace since the crisis began in March, on the back of declining activity in the mining and quarrying, hotels and restaurants, construction, and … and have not been previously reviewed, approved or endorsed by any other In already poor Honduras, coronavirus pushes some into homelessness. Advisors offer a glimpse into the early days of their new firms. Subscribe. This is a big week for IPOs, with Airbnb's IPO coming Thursday. Honduran ex-president stopped with $18,000 in cash at airport. During recent years, Honduras had registered the second highest economic growth rates in Central America, only behind Panama. The economy registered modest economic growth of 3.1%-4.0% from 2010 to 2017, insufficient to improve living standards for the nearly 65% of the population in poverty. The first development project or “Prosperity Hub” is taking place on the island of Roatán, incorporated within the Próspera Platform, a legal, governance and regulatory framework designed to catalyze economic development, employment and prosperity for all. The COVID-19 crisis, which underscores Honduras’ need for a steadier food infrastructure, a more robust health-care system, and a strengthened formal economy will hopefully lead to a consensus of national priorities between the traditional National and Liberal parties, as well as the newer Liberty and Refoundation party. on this page is accurate as of the posting date; however, some of our partner offers may have expired. Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. “This year will be marked in the history of Honduras as the year that three devastating elements hit us,” said Hernandez, speaking at an event. TEGUCIGALPA (Reuters) - The Honduran economy is expected to shrink by a record 10.5% this year due to the combined crisis of the coronavirus … Honduras economy news. In August, economic activity fell for the sixth month running, albeit at the softest pace since the crisis began in March, on the back of declining activity in the mining and quarrying, hotels and restaurants, construction, and transport and storage sectors. The US-Central America-Dominican Republic Free Trade Agreement came into force in 2006 and has helped foster foreign direct investment, but physical and political insecurity, as well as crime and perceptions of corruption, may deter potential investors; about 15% of foreign direct investment is from US firms. US Education’s Discomfort with Teaching History By - Peter Isackson. Updated . Since colonial times, the Honduran economy has, for the most part, been based on one commodity--minerals before 1900 and bananas throughout the first half of the twentieth century. These are New York's biggest financial planning firms based on assets under management. The report finds that the economy has become especially vulnerable to the combined impacts of the world recession and the political crisis … Given Honduras population of 9.6 million people, its total $8.8 billion in 2019 exports translates to roughly $920 for every resident in the Central American country. (Reporting by Gustavo Palencia; Writing by Cassandra Garrison; Editing by Jonathan Oatis). These are the largest financial advisor firms in California based on assets under management. RENO, Nev., Sept. 15, 2020 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) today announced that Empresa Nacional de Energia Electrica, (ENEE), its … Here's how investment professionals can learn to avoid cognitive errors. But poverty remains high, and a large informal labor market, strong dependence on agriculture, and violence continue to challenge economic growth, the IMF said in its latest economic review . The top stocks to buy for 2021 range from small-cap diamonds in the rough to dominant growth stocks. Its overall score has increased by 0.9 point, led by an improvement in the property rights score. The economic fall for 2020 far exceeds the country's previous record in 1954, when the economy contracted 6.5% due to worker strikes. Honduras Blogs, Comments and Archive News on Economictimes.com Hurricanes Eta and Iota then tore through the region in November, affecting millions of people with massive flooding, destroying infrastructure and claiming at least 100 lives. In 2017, Honduras faced rising public debt, but its economy has performed better than expected due to low oil prices and improved investor confidence. entities, such as banks, credit card issuers or travel companies. Holland, MI, USA / 1450 AM 99.7 FM WHTC | Real News Now. In addition, much of the Honduras economy is diversified because of maquila investments and slower than expected export of non-traditional commodities. Trade Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. As of December 2018 Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. The central bank expects the economy to shrink between 2.9-3.9% this year after growing 2.7% in 2019. In addition, much of the Honduras economy is diversified because of maquila investments and slower than expected export of non-traditional commodities. Here’s what to do. January 8, 2016 Business - Economics, Headline News. The Honduran maquiladora sector, the third-largest in the world, continued its strong performance in 2000, providing employment to over 120,000 and generating more than $528 million in foreign exchange for the country. Honduras - GDP The economy is set to have contracted again in Q3. Strategy. It is a low/middle income country, with over 66 percent of its population living in poverty. man leaves gang life, now 2021 Teacher of the Year, Michie Stadium gives President Trump standing ovation ahead of Army-Navy game, Police searching for suspect after 4 people injured in Brooklyn shooting, Teachers Getting Schooled with Rebecca Friedrichs, Facebook’s independent fact checkers tied to Hillary Clinton, Communist China and George Soros. As income investors hunt for yield, they should consider these top dividend stocks to buy for 2021. Subscribe to our daily newsletter to get investing advice, rankings and stock market news. Economy of Honduras The economy of Honduras is based mostly on agriculture, which accounts for 14% of its gross domestic product (GDP) in 2013. Honduras’s economy depends heavily on US trade and remittances. The economy is set to have contracted again in Q3. The contraction was worse than a previous estimate by the country’s central bank of between 8% and 9% as the impoverished Central American nation struggled under the weight of the pandemic and hurricanes Eta and Iota. Honduras Economy News Monitoring. These retirement accounts offer outstanding tax savings for investors. The Honduran economy grew 4.8% in 2000, recovering from the Mitch-induced recession (−1.9%) of 1999. America's aging roads, bridges and wastewater systems are years overdo for repair. Top 3 Trade Partners (2019): United States, China, and Mexico Top 3 Exported Goods (2019): Coffee & Spices, Fruit & Nuts, and Seafood South Asians Are Shaping the Future of Science and Technology By - Vikram Zutshi. November 10, 2020. Honduras, like its neighbours in the region, is a developing nation whose citizens are presented with innumerable economic and social challenges, a situation that is complicated by rough topography and the occasional violence of tropical weather patterns, including the … December 7, 2020. News. Share sensitive information only on official, secure websites. It has at times been referred to as Spanish Honduras to differentiate it from British Honduras, which became modern-day Belize. Friend on Facebook Follow on Twitter Add to … By Reuters Staff. Combined with the economic impact of the coronavirus pandemic, weak healthcare, and endemic corruption, damage and property loss caused by Hurricane Eta will bear down on economic activity and constrain the scope for a post-pandemic recovery in 2021. "This year will be marked in the history of Honduras as the year that three devastating elements hit us," said Hernandez, speaking at an event. Honduras - Market OverviewHonduras - Market Overview Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S. market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade agreements. Secure .gov websites use HTTPS. Opinion. Honduras shipped another 24.2% worth of goods to Europe. Honduras’ economy was paralyzed under months of lockdown provoked by the coronavirus pandemic. Leading export coffee ($340 million) accounted for 22% of total Honduran export revenues. TEGUCIGALPA (Reuters) - The Honduran economy is expected to shrink by a record 10.5% this year due to the combined crisis of the coronavirus and two deadly hurricanes last month, President Juan Orlando Hernandez said Monday, its worst performance in more than six decades. Honduras Próspera LLC is the Promoter and Organizer of the next generation of a Special Economic Zone in Honduras. Honduras economy contracts record 10.5% due to virus, hurricanes: Hernandez. The country’s GDP growth reached 4.8 percent in 2017, 3.7 percent in 2018 and 2.7 percent in 2019, above the average in Central America and well above the average in Latin America and the Caribbean (LAC). The content Honduras News articles in English on politics, business and economy, tourism, and environmental issues. Honduras has made significant progress in restoring economic stability and laying the groundwork for sustainable growth since completing its IMF-supported economic program in December 2017. Read more Because of this, the exportation sector is at risk for commodity price shifts and natural disaster. The people of Honduras rely primarily on just a few exports, primarily coffee and bananas. 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