Honduran GDP up 3%

Agriculture and communications largely determined the 3.1% increase recorded in the Gross Domestic Product during the third quarter of the year, compared to the same period in 2017.

Friday, December 21, 2018

During the third quarter of 2018, the out-of-season series of the GDPT showed a 0.7% increase in real terms, when compared to the level of the second quarter. With this, the GDPT increased 3.1% year-on-year, reaching an accumulated rate of 3.4% in 2018, informed the Central Bank of Honduras.

Because of its contribution to the global result of the quarter, by economic activity, Agriculture, Livestock, Forestry and Fishing (0.3 pp) and Communications (0.2 pp) are highlighted; and to a lesser extent the Manufacturing Industry; Transportation and Storage; Commerce, Hotels and Restaurants (0.1 pp each).

In contrast, Financial Intermediation and Taxes net of Subsidies (both with -0.1 pp) contributed negatively. By components of expenditure in constant values, the positive contribution of final demand was influenced by Exports (2.6 pp) and Final Consumption Expenditure (1.4 pp), as well as by lower imports that contributed positively to the GDPT (0.1 pp); this was partly offset by the contraction in Gross Capital Formation, which resulted in a negative participation of 3.5 pp in the variation of the quarter.

Communications services increased 1.8%, supported by continuous market strategies and the incorporation of state-of-the-art technologies, promoting the diversification of services and promotional packages, aimed at the final consumer -at national level- and corporate clients for data storage.

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