Economy
The Central District has an economy equal to 19.3 percent of country's GDP. In 2009, the city's revenue and expenditures budget was of L.2,856,439,263 (US$151,214,182) while in 2010 it was of L.2,366,993,208 (US$125.204.606) 57.9 percent or L.43.860 billion (US$2.318 billion) of the country's national budget is spent within the Central District.
The District's active labor force is of 367,844 people of which 56,035 are employed in the public sector. In 2009, the unemployment rate in Tegucigalpa was 8.1 percent. and an unemployed person may spend as much as four months seeking employment. There are 32,665 business establishments throughout the capital, the most of any city in the country. The size of these businesses is broken down as follow: micro-enterprises (73.2%), small businesses (9.63%), medium-sized businesses (7.47%), large companies (0.28%), and the remainder unreported (9.62%).
The city's major economic sources are commerce, construction, services, textiles, sugar, and tobacco. Economic activity is broken down as follow: commerce—including wholesale, retail, auto repair, household goods (42.86%); manufacturing industry (16.13%), hospitality—hotels and restaurants (14.43%), banking and real state (10.12%), social and personal services (8.94%), health-related services (3.90%), and others (3.60%).
The industrial production taking place in the region include textiles, clothing, sugar, cigarettes, lumber, plywood, paper, ceramics, cement, glass, metalwork, plastics, chemicals, tires, electrical appliances, and farm machinery. Maquiladora duty-free assembly plants have been established in an industrial park in the Amarateca valley, on the northern highway. Silver, lead and zinc are still mined in the outskirts of the city.
Read more about this topic: Tegucigalpa
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)