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Businesses in Honduras

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Honduras, officially Republic of Honduras, Spanish República de Honduras, country of Central America situated between Guatemala and El Salvador to the west and Nicaragua to the south and east. The Caribbean Sea washes its northern coast, the Pacific Ocean its narrow coast to the south. Its area includes the offshore Caribbean department of the Bay Islands. The capital is Tegucigalpa (with Comayagüela), but—unlike most other Central American countries—another city, San Pedro Sula, is equally important industrially and commercially, although it has only half the population of the capital.

Honduras is a poor country, and the majority of Hondurans work under extremely difficult conditions. The government has, however, adopted more active economic policies since the mid-20th century. In 1954 striking banana workers led the trade union movement to one of its most resounding triumphs, which resulted in the promulgation (in 1955) of a labour code that is considered one of the most complete instruments of its kind in Latin America. The code has generally resulted in a higher standard of living for the worker and better operating conditions for business; labour laws are not always strictly applied, however, and some workplaces are substandard.

The country’s natural resources include agricultural lands along the northern coast and interior river valleys, extensive pine forests, and small deposits of silver, lead, zinc, and low-grade iron ore. The economy is geographically divided between the highlands, where subsistence farming, stock raising, and mining have long dominated, and the lowlands, where plantation agriculture based largely on bananas is the chief occupation. In 1998, however, Hurricane Mitch devastated large portions of Honduran agriculture and transportation infrastructure, requiring major reconstruction and rehabilitation efforts.

Early in the 21st century agriculture contributed little more than one-tenth of the gross domestic product (GDP) but still employed the biggest slice (about two-fifths) of the labour force. Two U.S. corporations—Chiquita (formerly United Fruit Company and United Brands) and Dole (formerly Standard Fruit and Steamship Company and Castle & Cooke)—hold a disproportionate amount of the country’s agricultural land and produce a substantial part of the national income by growing the majority of the country’s banana crop. Important export crops other than bananas include coffee beans, tobacco, and sugarcane. Corn is the chief staple crop. Honduran farmers also plant genetically modified corn (illegal in the rest of Central America), which has helped combat food shortages and rising corn prices. Cattle raising is the main livestock activity, and beef has become an important export.

About two-fifths of the country’s land is covered by forests, making forest products a potentially large source of national income. The extensive pine forests were attacked by blight in the 1960s, and mahogany—the major timber export—began declining in importance. The practice of shifting agriculture, employing widespread burning of forests and the cutting of wood for fuel, has caused a depletion of forest resources. Present commercial practices of forest exploitation are inefficient. A substantial portion of timber harvested for commercial purposes does not reach the sawmill, and less than half of the timber that arrives at the mill is processed into lumber. To help alleviate the wasteful forestry practices, the government put all forest trees under state ownership in 1974, but forests continue to be depleted at a rapid rate.

Fishing is a small but developing industry, carried on mainly off the Caribbean coast. Shrimp and lobster are the most important parts of the catch, the largest portion of which is shipped to the United States.

Manufacturing, which accounted for about one-fifth of the GDP in the early 21st century, is dominated by small-scale firms that operate with intermediate levels of technology and possess limited processing capabilities. Dozens of foreign-owned maquiladoras (duty-free manufacturing plants) were opened in the late 20th century, and by 1997 they employed as many as 75,000 workers, mostly women. The major products manufactured and processed are food products, beverages, textiles, clothing, chemicals, lumber, and paper products. The production of capital and heavy intermediate goods is minimal. Industrial plants are located largely in the urban areas of San Pedro Sula and Tegucigalpa.

Mineral resources are limited but include silver, gold, lead, zinc, antimony, iron, mercury, and copper. From the 19th to the mid-20th century, the economy was largely dependent upon the production of silver and gold, particularly from El Mochito mine, which was the largest in Central America. Mining accounts for a tiny percent of the GDP, with zinc the leading mineral export.

Finally, I will leave a link which includes all companies and enterprises in Honduras, for those who want to research and discover more about this country. Thanks for reading.

All businesses address in Honduras: findsun.net/HN

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