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Economy of Honduras vs Marshall Islands compared: GDP & Debt

Updated on by Georank team

Honduras has a GDP of $37.1B compared to $290M for the Marshall Islands, ranking 104/197 and 193/197 by economy size, respectively.

Honduras has $17.5B in government debt (47.1% of GDP), compared to $38.4M (13.2% of GDP) in the Marshall Islands.

Honduras vs Marshall Islands GDP by year

Honduras
Marshall Islands
1x
Year GDP, current $
Honduras Marshall Islands
2024 $37,093,565,854 $290,108,490
2023 $34,355,805,528 $263,761,322
2022 $31,426,041,807 $258,723,511
2021 $28,144,331,507 $261,245,544
2020 $23,352,232,484 $241,800,000
2019 $24,882,225,742 $232,900,000
2018 $24,067,750,760 $220,000,000
2017 $23,136,247,991 $213,700,000
2016 $21,717,604,952 $201,800,000
2015 $20,979,791,685 $183,700,000
2014 $19,756,533,972 $186,000,000
2013 $18,499,729,215 $186,400,000
2012 $18,528,554,398 $180,700,000
2011 $17,710,275,685 $172,300,000
2010 $15,839,344,592 $161,100,000
2009 $14,587,496,229 $151,200,000
2008 $13,881,731,876 $146,600,000
2007 $12,361,257,681 $150,500,000
2006 $10,917,477,066 $143,200,000
2005 $9,757,012,697 $138,000,000
2004 $8,869,299,234 $132,900,000
2003 $8,230,391,347 $131,128,500
2002 $7,858,255,413 $131,960,000
2001 $7,651,162,302 $122,406,100
2000 $7,186,638,029 $114,838,500
1999 $6,394,090,592 $113,352,100
1998 $6,163,707,533 $112,070,100
1997 $5,569,178,707 $109,884,700
1996 $4,798,834,459 $110,858,000
1995 $4,672,346,194 $120,230,000
1994 $4,105,686,899 $108,071,000
1993 $4,190,773,622 $99,461,000
1992 $4,122,846,905 $91,063,000
1991 $3,699,381,195 $82,507,000
1990 $3,734,460,117 $78,476,000
1989 $4,375,896,552 $72,798,000
1988 $4,892,660,944 $70,688,000
1987 $5,024,800,000 $62,983,000
1986 $4,706,100,000 $55,989,000
1985 $4,328,300,000 $43,879,000
1984 $4,029,900,000 $45,144,000
1983 $3,840,550,000 $41,749,000
1982 $3,619,500,000 $34,918,000
1981 $3,501,800,000 $31,020,000
1980 $3,184,400,000 $26,710,653
1979 $2,778,900,000 $25,545,346
1978 $2,393,650,000 $22,209,370
1977 $1,900,700,000 $20,210,069
1976 $1,589,300,000 $18,153,647
1975 $1,330,050,000 $16,691,301
1974 $1,243,000,000 $15,217,532
1973 $1,128,299,436 $11,607,366
1972 $1,030,645,362 $9,973,652
1971 $958,450,000 $9,116,810
1970 $904,400,000 $8,408,486
1969 $844,400,000 -
1968 $815,450,000 -
1967 $750,950,000 -
1966 $692,150,000 -
1965 $651,050,000 -
1964 $591,100,000 -
1963 $553,500,000 -
1962 $532,450,000 -
1961 $503,300,000 -
1960 $475,650,000 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/honduras/marshall-islands | CC BY

GDP per capita in Honduras vs Marshall Islands by year

Honduras
GDP per capita

GDP per capita, PPP
Marshall Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Honduras Marshall Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,426 $7,486 $7,726 $8,195
2023 $3,227 $7,178 $6,793 $7,549
2022 $3,003 $6,805 $6,456 $7,431
2021 $2,735 $6,203 $6,315 $6,768
2020 $2,308 $5,385 $5,662 $6,137
2019 $2,502 $5,785 $5,292 $6,045
2018 $2,465 $5,633 $4,858 $5,232
2017 $2,413 $5,621 $4,593 $4,719
2016 $2,307 $5,186 $4,230 $4,366
2015 $2,271 $4,846 $3,764 $4,125
2014 $2,180 $4,460 $3,735 $3,931
2013 $2,081 $4,137 $3,678 $3,845
2012 $2,126 $4,016 $3,514 $3,590
2011 $2,074 $3,901 $3,319 $3,537
2010 $1,893 $3,758 $3,095 $3,473
2009 $1,781 $3,656 $2,907 $3,253
2008 $1,732 $3,806 $2,818 $3,118
2007 $1,578 $3,664 $2,892 $3,309
2006 $1,426 $3,438 $2,754 $3,110
2005 $1,305 $3,204 $2,659 $3,017
2004 $1,215 $3,001 $2,566 $2,880
2003 $1,156 $2,821 $2,539 $2,824
2002 $1,132 $2,715 $2,566 $2,825
2001 $1,132 $2,645 $2,394 $2,700
2000 $1,093 $2,587 $2,265 $2,490
1999 $999 $2,372 $2,258 $2,400
1998 $989 $2,152 $2,254 $2,422
1997 $917 $1,959 $2,231 $2,434
1996 $813 $1,617 $2,273 $2,583
1995 $814 $1,329 $2,491 $2,858
1994 $736 $1,074 $2,265 $2,617
1993 $773 $838 $2,112 $2,452
1992 $782 $741 $1,963 $2,293
1991 $722 $684 $1,811 $2,131
1990 $750 $540 $1,758 $2,102
1989 $904 - $1,670 -
1988 $1,039 - $1,670 -
1987 $1,098 - $1,543 -
1986 $1,058 - $1,425 -
1985 $1,001 - $1,162 -
1984 $960 - $1,245 -
1983 $942 - $1,199 -
1982 $914 - $1,046 -
1981 $912 - $969 -
1980 $854 - $868 -
1979 $769 - $859 -
1978 $683 - $771 -
1977 $559 - $724 -
1976 $482 - $672 -
1975 $417 - $638 -
1974 $401 - $602 -
1973 $375 - $472 -
1972 $353 - $416 -
1971 $338 - $390 -
1970 $329 - $373 -
1969 $316 - - -
1968 $314 - - -
1967 $298.2 - - -
1966 $282.9 - - -
1965 $273.9 - - -
1964 $255.9 - - -
1963 $246.6 - - -
1962 $244 - - -
1961 $237.3 - - -
1960 $230.7 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/honduras/marshall-islands | CC BY

Honduras' GDP per capita is $3,426, ranking 136/197, compared to $7,726 in the Marshall Islands, ranking 96/197. Adjusted for purchasing power (GDP per capita PPP), Honduras ranks 146th at $7,486, while the Marshall Islands ranks 139th at $8,195.

Economic indicators

Honduras Marshall Islands
Gross domestic product
$37.1B
2024
$290M
2024
GDP rank
104/197
2024
193/197
2024
GDP growth
3.55%
2023-2024
2.5%
2023-2024
GDP per capita
$3,426
2024
$7,726
2024
GDP per capita rank
136/197
2024
96/197
2024
GDP per capita, PPP
$7,486
2024
$8,195
2024
GDP per capita PPP rank
146/197
2024
139/197
2024
Government debt
$17.5B
2024
$38.4M
2024
Debt-to-GDP ratio
47.1%
2024
13.2%
2024
Government debt per person
$1,613
2024
$1,022
2024
Government debt per person rank
126/185
2024
142/185
2024
Average annual personal income after taxes
$4,901
2026
$5,044
2026
Income share by richest 10%
32.3%
2024
27.5%
2019
Income share by poorest 10%
1.2%
2024
2.8%
2019
Government expenditure, % of GDP
25.7%
2024
71.6%
2024
Consumer prices inflation
4.61%
2023-2024
5.2%
2023-2024
Central bank interest rate
5.75%
2024
n/a
Unemployment rate
4.91%
2024
9.82%
2021
Population
11237619
35058

Spending and national debt comparison by year

Honduras
Spending

Debt
Marshall Islands
Spending

Debt
1x
Year % of GDP
Honduras Marshall Islands
Government spending Government debt Government spending Government debt
2024 25.7% 47.1% 71.6% 13.2%
2023 27.2% 47.9% 68.4% 18.2%
2022 24% 51% 67.7% 19.8%
2021 28.8% 50.3% 69.8% 20.1%
2020 28.4% 52.5% 67.8% 21.7%
2019 25.9% 44.1% 65.5% 25.1%
2018 26.2% 43.5% 60.5% 24.7%
2017 26.9% 43.6% 63.7% 26.5%
2016 27.4% 40.3% 56.8% 29.2%
2015 26% 42.3% 56.3% 33.9%
2014 26.4% 43% 49.2% 34.9%
2013 28% 42.1% 55% 33.4%
2012 26.4% 32.4% 53.2% 37.6%
2011 25.9% 31.5% 55.9% 35.9%
2010 26.5% 28.9% 59.2% 38.8%
2009 28.4% 23.8% 63.1% 41.2%
2008 26.4% 22.3% 64.3% 44.1%
2007 24.4% 24% 67.2% 42.2%
2006 24.4% 39.2% 61.2% 44.4%
2005 23.6% 55.6% 85.3% 45.8%
2004 25.5% 60.9% 54.5% 46.8%
2003 26.4% 67.8% 52.9% 43.7%
2002 26.8% 64.2% 55.2% 37.2%
2001 25.1% 63.4% 58.8% 32.7%
2000 22.1% 65.8% 56.5% 27.3%
1999 23.3% 75.8% 48.7% 26.1%
1998 19.4% 67.4% 50.5% 18.1%
1997 19.4% 70.8% 55% 8.73%
1996 18.7% 64.6% - -
1995 17.2% 65.4% - -
1994 19.2% 86.4% - -
1993 23.7% 108% - -
1992 20.5% 116.5% - -
1991 18.8% 122.2% - -
1990 16.4% 200.3% - -
1989 10.2% 68.4% - -
1988 16% 71.7% - -
1987 17.2% 73.6% - -
1986 19.8% 69.9% - -
1985 22.5% 65.7% - -
1984 22.4% 60.5% - -
1983 20.8% 57.6% - -
1982 18.7% 54.3% - -
1981 15.3% 48.1% - -
1980 16.2% 41% - -
1979 14.4% 36.1% - -
1978 13.1% 32.8% - -
1977 14.6% 28.2% - -
1976 11.5% 26.5% - -
1975 11.9% 24% - -
1974 11.7% 18.5% - -
1973 11.1% 16.6% - -
1972 12.6% 16.8% - -
1971 15.2% 19.8% - -
1970 15.2% 17.2% - -
1969 13.6% 13% - -
1968 11.6% 9.75% - -
1967 11.4% 9.72% - -
1966 11.4% 9.47% - -
1965 10.6% 8.97% - -
1964 11.4% 9.78% - -
1963 10.1% 9.02% - -
1962 10.5% 8.54% - -
1961 11.2% 8.22% - -
1960 12.2% 8.97% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-02-20).

GeoRank.org/economy/honduras/marshall-islands | CC BY

In 2024, Honduras' government spending was $9.52B, accounting for 25.7% of its GDP, while the Marshall Islands spent $208M, or 71.6% of GDP.

Debt-to-GDP ratio is 47.1% in Honduras and 13.2% in the Marshall Islands, ranking 115/185 and 179/185, respectively.

Government deficit by year

Deficit/surplus
Honduras

Marshall Islands
1x
Year Deficit/surplus, % of GDP
Honduras Marshall Islands
2024 -1.12% 3.61%
2023 -1.96% 1.14%
2022 1.57% 0.68%
2021 -3.17% 0.18%
2020 -4.58% 2.54%
2019 0.09% -1.8%
2018 0.2% 2.55%
2017 -0.41% 4.38%
2016 -0.4% 3.88%
2015 -0.78% 2.81%
2014 -2.81% 3.2%
2013 -5.48% -0.23%
2012 -3.48% -0.76%
2011 -2.94% 2.13%
2010 -3.37% 3.51%
2009 -4.86% 1.51%
2008 -0.27% 3.68%
2007 -0.25% 0.27%
2006 -1.36% 0.24%
2005 -0.03% -22.3%
2004 -2.48% -1.6%
2003 -5.09% 10.5%
2002 -5.02% 5.12%
2001 -3.12% 7.83%
2000 1.51% 7.84%
1999 1.38% 9.01%
1998 2.89% 13.5%
1997 0.08% 7.91%
1996 0.13% -
1995 -0.24% -
1994 -0.98% -
1993 -5.03% -
1992 -1.41% -
1991 -1.95% -
1990 -1.82% -
1989 2.08% -
1988 -2.65% -
1987 -3.23% -
1986 -5.92% -
1985 -8.58% -
1984 -9.33% -
1983 -9.1% -
1982 -6.17% -
1981 -2.5% -
1980 -2.52% -
1979 -1.55% -
1978 -0.68% -
1977 -2.55% -
1976 -0.93% -
1975 -1.78% -
1974 -0.27% -
1973 -0.71% -
1972 -2.37% -
1971 -3.51% -
1970 -3.24% -
1969 -2.16% -
1968 -0.38% -
1967 -0.73% -
1966 -0.45% -
1965 0.19% -
1964 -1.77% -
1963 -0.39% -
1962 -0.71% -
1961 -1.05% -
1960 -1.22% -
1959 -1.31% -
1958 -1.16% -
1957 -1.01% -
1956 -1.81% -
1955 -0.42% -
1954 -2.91% -
1953 -2.96% -
1952 -3.21% -
1951 -1.04% -
1950 -0.44% -
1949 -1.92% -
1948 0.52% -
1947 -0.83% -
1946 0.32% -
1945 0% -
1944 -0.82% -
1943 -0.48% -
1942 0% -
1941 -0.26% -
1940 -0.43% -
1939 -0.52% -
1938 -0.74% -
1937 -1.37% -
1936 -0.76% -
1935 0% -
1934 0.06% -
1933 2.06% -
1932 -2.13% -
1931 -0.94% -
1930 -1.15% -
1929 -0.38% -
1928 0.72% -
1927 0.37% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1927–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/honduras/marshall-islands | CC BY

In 2024, Honduras' government deficit, the difference between spending and revenue, was $415M, equivalent to 1.12% of GDP. This compares to the Marshall Islands' surplus of $10.5M, or 3.61% of GDP.

Over the past 28 years, Honduras recorded a fiscal deficit in 21 of those years, while the Marshall Islands ran a deficit in 5 years. On average, Honduras posted an annual deficit equal to 1.62% of GDP, compared to surplus of 2.55% of GDP for the Marshall Islands.

Inflation comparison by year

Inflation
Honduras

Marshall Islands
1x
Year Consumer prices inflation
Honduras Marshall Islands
2024 4.61% 5.2%
2023 6.66% 7.4%
2022 9.09% 2.8%
2021 4.48% 2.2%
2020 3.47% -0.7%
2019 4.37% -0.1%
2018 4.35% 0.8%
2017 3.93% 0.1%
2016 2.72% -1.5%
2015 3.16% -2.2%
2014 6.13% 1.1%
2013 5.16% 1.9%
2012 5.2% 4.3%
2011 6.76% 5.4%
2010 4.7% 1.8%
2009 5.5% 0.5%
2008 11.4% 14.7%
2007 6.94% 2.6%
2006 5.58% 5.3%
2005 8.81% 3.5%
2004 8.11% 2%
2003 7.67% -
2002 7.69% -
2001 9.67% -
2000 11% -
1999 11.7% -
1998 13.7% -
1997 20.2% -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (2004–2024, retrieved 2026-02-20).

GeoRank.org/economy/honduras/marshall-islands | CC BY

Over the past 21 years, Honduras has recorded an average annual inflation rate of 5.77%, compared with 2.72% in the Marshall Islands. In 2024, inflation was 4.61% in Honduras and 5.2% in the Marshall Islands.

Balance of trade

Honduras Marshall Islands
Current account balance
-$1.65B
2024
$76.3M
2021
Current account balance ranking
137/190
2024
70/190
2021
Current account balance, % of GDP
-4.45%
2024
+29.2%
2021
Goods imports
$14.6B
2024
$133M
2021
Goods exports
$5.67B
2024
$121M
2021
Service imports
$3.67B
2024
$73.1M
2021
Service exports
$3.75B
2024
$9.44M
2021
Imports of goods and services, % of GDP
57.6%
2024
81.7%
2024
Exports of goods and services, % of GDP
33.5%
2024
42.1%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Honduras Marshall Islands
Economic freedom 59.1 58
Economic freedom ranking 105/197 113/197
Property rights 35.7 n/a
Government integrity 24.6 n/a
Judicial effectiveness 27.6 n/a
Tax burden 83.1 n/a
Government spending 80.3 n/a
Fiscal health 95.2 n/a
Business freedom 59.4 n/a
Labor freedom 37.9 n/a
Monetary freedom 70.1 n/a
Trade freedom 69.8 n/a
Investment freedom 65 n/a
Financial freedom 60 n/a

Other economic metrics

Honduras Marshall Islands
Services, % of GDP
58.4%
2024
67%
2024
Industry, % of GDP
26.1%
2024
13.2%
2024
Agriculture, forestry, and fishing, % of GDP
11.2%
2024
19.6%
2024
GNI, Atlas method
$32.7B
2024
$319M
2024
GNI per capita, PPP
$6,900
2024
$9,680
2024
Total reserves including gold
$8.04B
2024
n/a
Total reserves ranking
84/177
2024
n/a
Net foreign direct investment
-$620M
2024
-$499K
2021
Net inflows of foreign direct investment
$1.31B
2024
$1.7M
2024
Net outflows of foreign direct investment
$689M
2024
$0
2024
Servicing debt to the IMF, % of GNI
5.23%
2024
n/a
Poverty at national poverty lines
62.9%
2024
7.2%
2019
Gross capital formation, % of GDP
22.5%
2024
20.7%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/honduras/marshall-islands | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1989, retrieved 2026-02-20)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.