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Economy of Honduras vs San Marino compared: GDP & Debt

Updated on by Georank

Honduras has a GDP of $39.6B compared to $2.03B for San Marino, ranking 104/197 and 180/197 by economy size, respectively.

Honduras has $16.3B in government debt (41.2% of GDP), compared to $1.39B (60.6% of GDP) in San Marino.

Honduras vs San Marino GDP by year

Honduras
San Marino
1x
Year GDP, current $
Honduras San Marino
2025 $39,601,409,103 -
2024 $36,980,171,442 -
2023 $34,355,805,528 $2,027,243,194
2022 $31,426,041,807 $1,831,701,023
2021 $28,144,331,507 $1,855,395,712
2020 $23,352,232,484 $1,544,713,785
2019 $24,882,225,742 $1,616,231,696
2018 $24,067,750,760 $1,655,354,329
2017 $23,136,247,991 $1,528,621,193
2016 $21,717,604,952 $1,468,342,400
2015 $20,979,791,685 $1,419,400,396
2014 $19,756,533,972 $1,673,910,988
2013 $18,499,729,215 $1,678,741,202
2012 $18,528,554,398 $1,604,701,051
2011 $17,710,275,685 $1,813,717,695
2010 $15,839,344,592 $1,881,191,950
2009 $14,587,496,229 $2,064,277,984
2008 $13,881,731,876 $2,403,214,436
2007 $12,361,257,681 $2,188,653,429
2006 $10,917,477,066 $1,909,765,811
2005 $9,757,012,697 $1,786,513,631
2004 $8,869,299,234 $1,715,341,295
2003 $8,230,391,347 $1,462,590,387
2002 $7,858,255,413 $1,148,872,076
2001 $7,651,162,302 $1,059,529,731
2000 $7,186,638,029 $1,007,661,291
1999 $6,394,090,592 $1,109,473,282
1998 $6,163,707,533 $1,048,316,226
1997 $5,569,178,707 $976,606,911
1996 $4,798,834,459 -
1995 $4,672,346,194 -
1994 $4,105,686,899 -
1993 $4,190,773,622 -
1992 $4,122,846,905 -
1991 $3,699,381,195 -
1990 $3,734,460,117 -
1989 $4,375,896,552 -
1988 $4,892,660,944 -
1987 $5,024,800,000 -
1986 $4,706,100,000 -
1985 $4,328,300,000 -
1984 $4,029,900,000 -
1983 $3,840,550,000 -
1982 $3,619,500,000 -
1981 $3,501,800,000 -
1980 $3,184,400,000 -
1979 $2,778,900,000 -
1978 $2,393,650,000 -
1977 $1,900,700,000 -
1976 $1,589,300,000 -
1975 $1,330,050,000 -
1974 $1,243,000,000 -
1973 $1,128,299,436 -
1972 $1,030,645,362 -
1971 $958,450,000 -
1970 $904,400,000 -
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/honduras/san-marino | CC BY

GDP per capita in Honduras vs San Marino by year

Honduras
GDP per capita

GDP per capita, PPP
San Marino
GDP per capita

GDP per capita, PPP
1x
Year Current $
Honduras San Marino
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $3,598 - - -
2024 $3,416 $7,486 - -
2023 $3,227 $7,178 $59,871 $78,745
2022 $3,003 $6,805 $54,265 $75,941
2021 $2,735 $6,203 $54,169 $64,745
2020 $2,308 $5,385 $44,427 $55,207
2019 $2,502 $5,785 $46,627 $57,444
2018 $2,465 $5,633 $47,951 $54,461
2017 $2,413 $5,621 $45,192 $52,463
2016 $2,307 $5,186 $44,359 $53,033
2015 $2,271 $4,846 $43,147 $52,247
2014 $2,180 $4,460 $51,260 $52,909
2013 $2,081 $4,137 $50,808 $50,770
2012 $2,126 $4,016 $47,946 $51,274
2011 $2,074 $3,901 $55,601 $56,240
2010 $1,893 $3,758 $56,543 $58,926
2009 $1,781 $3,656 $62,429 $61,970
2008 $1,732 $3,806 $75,902 $71,724
2007 $1,578 $3,664 $70,124 $71,744
2006 $1,426 $3,438 $63,271 $67,434
2005 $1,305 $3,204 $59,878 $63,739
2004 $1,215 $3,001 $58,232 $61,114
2003 $1,156 $2,821 $52,530 $60,224
2002 $1,132 $2,715 $41,791 $57,584
2001 $1,132 $2,645 $39,035 $57,252
2000 $1,093 $2,587 $37,601 $53,713
1999 $999 $2,372 $41,932 $52,064
1998 $989 $2,152 $40,127 $47,679
1997 $917 $1,959 $37,853 $44,426
1996 $813 $1,617 - -
1995 $814 $1,329 - -
1994 $736 $1,074 - -
1993 $773 $838 - -
1992 $782 $741 - -
1991 $722 $684 - -
1990 $750 $540 - -
1989 $904 - - -
1988 $1,039 - - -
1987 $1,098 - - -
1986 $1,058 - - -
1985 $1,001 - - -
1984 $960 - - -
1983 $942 - - -
1982 $914 - - -
1981 $912 - - -
1980 $854 - - -
1979 $769 - - -
1978 $683 - - -
1977 $559 - - -
1976 $482 - - -
1975 $417 - - -
1974 $401 - - -
1973 $375 - - -
1972 $353 - - -
1971 $338 - - -
1970 $329 - - -
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/honduras/san-marino | CC BY

Honduras' GDP per capita is $3,598, ranking 137/197, compared to $59,871 in San Marino, ranking 20/197. Adjusted for purchasing power (GDP per capita PPP), Honduras ranks 146th at $7,486, while San Marino ranks 17th at $78,745.

Economic indicators

Honduras San Marino
Gross domestic product
$39.6B
2025
$2.03B
2023
GDP rank
104/197
2025
180/197
2023
GDP growth
3.75%
2024-2025
0.4%
2022-2023
GDP per capita
$3,598
2025
$59,871
2023
GDP per capita rank
137/197
2025
20/197
2023
GDP per capita, PPP
$7,486
2024
$78,745
2023
GDP per capita PPP rank
146/197
2024
17/197
2023
Government debt
$16.3B
2025
$1.39B
2023
Debt-to-GDP ratio
41.2%
2025
60.6%
2025
Government debt per person
$1,483
2025
$40,914
2023
Government debt per person rank
132/185
2025
17/185
2023
Average annual personal income after taxes
$2,887
2026
$46,440
2026
Income share by richest 10%
32.3%
2024
n/a
Income share by poorest 10%
1.2%
2024
n/a
Government expenditure, % of GDP
24.9%
2025
22%
2025
Consumer prices inflation
4.6%
2024-2025
2.3%
2024-2025
Central bank interest rate
5.75%
2024
n/a
Unemployment rate
4.85%
2025
4.92%
2022
Population
11279259
34159

Spending and national debt comparison by year

Honduras
Spending

Debt
San Marino
Spending

Debt
1x
Year % of GDP
Honduras San Marino
Government spending Government debt Government spending Government debt
2025 24.9% 41.2% 22% 60.6%
2024 25.7% 41.5% 20.9% 62.9%
2023 27.2% 41.7% 21.7% 68.3%
2022 24% 46.9% 21.7% 70.6%
2021 28.8% 52.7% 37.1% 77.2%
2020 28.4% 53.5% 59.2% 69.8%
2019 25.9% 43.3% 22.4% 56.2%
2018 26.2% 42.4% 24.5% 56.7%
2017 26.9% 41.3% 25.6% 56.6%
2016 27.4% 39.4% 23.4% 21.4%
2015 26% 38.3% 26.3% 19.3%
2014 26.4% 35.2% 23.7% 21%
2013 28% 37.3% 30.2% 23.2%
2012 26.4% 27.1% 30.6% 17.2%
2011 25.9% 24.6% 25.4% 16.6%
2010 26.5% 21.8% 24.4% 20%
2009 28.4% 23.8% 24.8% 20.1%
2008 26.4% 22.3% 22% 15.5%
2007 24.4% 24% 20.7% 12.6%
2006 24.4% 39.2% 19.7% 14.2%
2005 23.6% 55.6% 19.3% 14.5%
2004 25.5% 60.9% 19% 16.9%
2003 26.4% 67.8% - 16.1%
2002 26.8% 64.2% - 17.2%
2001 25.1% 63.4% - 11.6%
2000 22.1% 65.8% - -
1999 23.3% 75.8% - -
1998 19.4% 67.4% - -
1997 19.4% 70.8% - -
1996 18.7% 64.6% - -
1995 17.2% 65.4% - -
1994 19% 85.5% - -
1993 24.5% 111.7% - -
1992 21.6% 123.2% - -
1991 20.8% 135.4% - -
1990 19.4% 236.5% - -
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-07-08).

GeoRank.org/economy/honduras/san-marino | CC BY

In 2025, Honduras' government spending was $9.87B, accounting for 24.9% of its GDP, while San Marino spent $439M, or 22% of GDP.

Debt-to-GDP ratio is 41.2% in Honduras and 60.6% in San Marino, ranking 128/185 and 75/185, respectively.

Government deficit by year

Deficit/surplus
Honduras

San Marino
1x
Year Deficit/surplus, % of GDP
Honduras San Marino
2025 -0.74% -1%
2024 -1.12% 0.39%
2023 -1.96% -0.72%
2022 1.57% 0.42%
2021 -3.17% -16.4%
2020 -4.58% -37.6%
2019 0.09% -0.11%
2018 0.2% -1.56%
2017 -0.41% -3.49%
2016 -0.4% -0.19%
2015 -0.78% -3.32%
2014 -2.81% 1.06%
2013 -5.48% -7.74%
2012 -3.48% -7.08%
2011 -2.94% -4.05%
2010 -3.37% -2.24%
2009 -4.86% -2.46%
2008 -0.27% 0.18%
2007 -0.25% 1.83%
2006 -1.36% 1.51%
2005 -0.03% 3.58%
2004 -2.48% 2.44%
2003 -5.09% -
2002 -5.02% -
2001 -3.12% -
2000 1.51% -
1999 1.38% -
1998 2.89% -
1997 0.08% -
1996 0.13% -
1995 -0.24% -
1994 -0.97% -
1993 -5.21% -
1992 -1.49% -
1991 -2.16% -
1990 -2.15% -
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 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/honduras/san-marino | CC BY

In 2023, Honduras' government deficit, the difference between spending and revenue, was $675M, equivalent to 1.96% of GDP. This compares to San Marino's deficit of $14.7M, or 0.72% of GDP.

Over the past 20 years, Honduras recorded a fiscal deficit in 17 of those years, while San Marino ran a deficit in 13 years. On average, Honduras posted an annual deficit equal to 1.84% of GDP, compared to deficit of 3.8% of GDP for San Marino.

Inflation comparison by year

Inflation
Honduras

San Marino
1x
Year Consumer prices inflation
Honduras San Marino
2025 4.6% 2.3%
2024 4.61% 1.2%
2023 6.66% 5.9%
2022 9.09% 5.3%
2021 4.48% 1.6%
2020 3.47% -0.1%
2019 4.37% 0.5%
2018 4.35% 1.2%
2017 3.93% 1%
2016 2.72% 0.6%
2015 3.16% 0.1%
2014 6.13% 1.1%
2013 5.16% 1.6%
2012 5.2% 2.8%
2011 6.76% 2.2%
2010 4.7% 2.4%
2009 5.5% 2.4%
2008 11.4% 4.1%
2007 6.94% 2.5%
2006 5.58% 2.1%
2005 8.81% 1.7%
2004 8.11% 1.4%
2003 7.67% 1.3%
2002 7.69% -
2001 9.67% -
2000 11% -
1999 11.7% -
1998 13.7% -
1997 20.2% -

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | World Economic Outlook (2003–2025, retrieved 2026-07-08).

GeoRank.org/economy/honduras/san-marino | CC BY

Over the past 23 years, Honduras has recorded an average annual inflation rate of 5.8%, compared with 1.97% in San Marino. In 2025, inflation was 4.6% in Honduras and 2.3% in San Marino.

Balance of trade

Honduras San Marino
Current account balance
$936M
2025
$446M
2023
Current account balance ranking
50/190
2025
60/190
2023
Current account balance, % of GDP
+2.36%
2025
+22%
2023
Goods imports
$15.4B
2025
$2.25B
2023
Goods exports
$6.88B
2025
$2.53B
2023
Service imports
$4.1B
2025
$894M
2023
Service exports
$3.89B
2025
$1.25B
2023
Imports of goods and services, % of GDP
56.5%
2025
155%
2023
Exports of goods and services, % of GDP
35%
2025
186%
2023

Economic freedom indices

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

Honduras San Marino
Economic freedom 59.1 76
Economic freedom ranking 105/197 16/197
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 San Marino
Services, % of GDP
57.6%
2025
56.9%
2023
Industry, % of GDP
25.4%
2025
35.8%
2023
Agriculture, forestry, and fishing, % of GDP
13.3%
2025
0.02%
2023
GNI, Atlas method
$36B
2025
$1.83B
2023
GNI per capita, PPP
$7,270
2025
$71,920
2023
Total reserves including gold
$10.2B
2025
$861M
2025
Total reserves ranking
78/177
2025
144/177
2025
Net foreign direct investment
-$810M
2025
$52.7M
2023
Net inflows of foreign direct investment
$478M
2024
-$18.1M
2023
Net outflows of foreign direct investment
-$49.4M
2024
$0
2024
Servicing debt to the IMF, % of GNI
5.23%
2024
n/a
Poverty at national poverty lines
60.1%
2025
n/a
Gross capital formation, % of GDP
24.2%
2025
16.6%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/honduras/san-marino | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1927–1989, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.