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LatinNews Daily - 22 March 2021

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In brief: Honduras’ economy shrinks in January

* Honduras’ central bank (BCH) has released the latest figures for its monthly economic activity index (Imae), which show that economic activity contracted by 6.3% year-on-year in January. Revised figures show that this is the smallest contraction since the start of the coronavirus (Covid-19) pandemic in March 2020. The sectors worst hit in January were hotels and restaurants (-31.5 %); transport & storage (-26.4%); private construction (-17.0%); and agriculture (-16.1%). The country’s GDP contracted 8.5% in 2020 as a result of Covid-19 and hurricanes ‘Eta’ and ‘Iota’ which made landfall in November 2020. In its most recent forecast, the United Nations Economic Commission for Latin America & the Caribbean (Eclac) forecasts that Honduras’s GDP will grow 4.5% in 2021.