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Big boost in remittances lifts ranking of Honduras

Monday, September 17, 2018

Thanks to a big boost from remittances, Honduras is currently the second economy of Central America in terms of growth.

As usual, Panama is the current leader of economic growth in the region at 5.2 percent. Honduras is standing at 3.9 percent, the UN Economic Commission for Latin America reports. Nicaragua began the year at 5 percent but its rating has been slapped by the commission from 5 percent to 0.4 percent.

Through September 6 this year, Honduras has earned $3.3 billion in remittances and the end-year forecast is $5 billion, some 40 percent of all the country's dollar income.