Honduras: GDP Grows 2.4% in the Third Quarter of 2019

Agriculture, livestock, forestry and fisheries, and financial intermediation largely determined the 2.4% increase in GDP in the third quarter of last year, compared to the same period in 2018.

Monday, January 6, 2020

Agriculture, Livestock, Forestry and Fishing registered a 2.6% increase, mainly because of the rise in the Gross Added Value (GVA) of coffee cultivation as a result of reseeding, maintenance and fertilization in the farms during the third quarter, informed the Central Bank of Honduras (BCH).

The BCH report explains that "... growth was also observed in the volumes of pineapple and other fruits grown. On the other hand, fishing continued to fall as a result of the lower production of cultivated shrimp, caused by the adverse climate change that affected the area where seafood is produced.

Financial intermediation, insurance and pension funds increased by 1.5%, due to the growth in income of financial institutions, related to commissions and interest on loans for consumption, real estate and services; as well as the use of credit and debit cards by their clients, and the administration of deposit accounts.

The GVA of the Manufacturing Industry presented a recovery regarding the previous quarter of 1.5%, explained by the increase in the elaboration of food and beverages; manufacture of machinery and equipment (harnesses); manufacture of clothing and textile products; and manufacture of chemical substances and products and plastic products. Notwithstanding, a fall was observed in the manufacture of other non-metallic mineral products; and in the manufacture of paper and paper products.

See full report (in Spanish).

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The behavior of the activities of Financial Intermediation, Agriculture, Livestock, Forestry and Fisheries, explained part of the year-on-year increase of almost 5% reported in the Gross Domestic Product during 2018.

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