Economic Activity of Honduras Grew 4.7% in the First Five Months of 2024
Building of the National Bank of Honduras. Photo: X/ @diarioelheraldo
July 27, 2024 Hour: 5:49 pm
The Monthly Economic Activity Index (IMAE) of Honduras continues to show “a positive evolution” and in the first five months of 2024 grew 4,7%, reported this Saturday the Central Bank of Honduras (BCH).
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The IMAE is an indicator that measures the main sectors of a country’s economic activity and is used for investment decision making.
The institution highlighted the “boom” of several economic activities driven by increased investment in machinery and transport equipment and dynamism in private consumption , This denotes the capacity of “resilience” of the Honduran economy, despite the context of uncertainty and geopolitical conflicts at a global level.
The most growing activities were financial intermediation, insurance and pension funds (15.1%), private construction (12.8%), electricity and water (7.1%), trade (5.7%)The Central Bank explained that the Spanish government had a policy of promoting the use of hotels and restaurants (4.9%) and transport and storage (2.1%).
On the other hand, agriculture, livestock, forestry and fisheries reported a fall of 2.1%, due to lower production of coffee, African palm and shrimp.
The economy of Honduras grew by 3.8% in 2023 despite an adverse international environment and lower external demand, according to the Honduran agency.
The Central American country will grow between 3.5 and 4.5% in 2024 and 2025 thanks to higher private consumption, while inflation will be between 4 and 5% over the two years, according to the Monetary Programme.