Honduras will lose 50,000 jobs due to crisis

The economic crisis will cause the loss of 50,000 jobs in 2008 and the situation could be worse next year.

Friday, November 28, 2008

"Exports have been decreasing for textiles as well as for shrimps, tilapia, and the construction industry is starting to contract," added Evelyn Bautista, an economist for the Honduran Council of Private Enterprises (COHEP).

In addition, the United States is the source of family remittances which in 2007 totaled $2.5 billion; that is the equivalent of 21% of the country's GDP.

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Honduras: 50 Thousand Jobs Lost in 2010

November 2010

As of October, about 50,000 jobs were lost in the construction sector.

The Honduran Chamber of Construction Industry (CHICO), identified as the main cause the economic crisis in the country.

Digital Process publishes, "Another factor which has influenced reduction of employment in the construction sector is the lack of interest by the government to generate investments, and the delay in the adoption of renewable energy projects, said Juan Carlos Sikaffy, member of Chico”.

Honduras: Imports and Exports Decrease

April 2009

In January 2009, in relation to January 2008, imports and exports decreased 18% and 14% respectively.

The effects of the economic crisis are reflected in the Monthly General Goods Report published by the Central Bank of Honduras.

On the export side, the basket of traditional products experienced a decrease of 22.5%, a figure greater than the decline in exports of nontraditional products such as tilapia, vegetables and shrimp, which registered a decrease of 8.7%.

Koramsa to cut payroll in Guatemala

November 2008

The main textile company in the country will cut 4000 jobs in the next few months.

The most recent cuts began on Friday at the Korean American People, S.A. (Koramsa) factory, which was the the biggest in Central America 3 years ago; some 500 workers received payment settlements as a part of a larger cut of 4000 jobs.

Trade between Guatemala and China is reduced

October 2008

Guatemalan purchases in China fell -24.9%, meanwhile sales decreased -54.9%, when comparing August 2007 to that of 2008.

The international financial crisis has already begun to affect the country's economy. Data from the Bank of Guatemala (Banguat) show that imports as well as exports have fallen in the first 8 months of this year.

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