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Foreign Trade in Figures

 

According to the World Bank, foreign trade represents 111% of the Honduran GDP. The country's strengths include top-quality port infrastructure and a relatively open business environment friendly to trade. Tariffs and non-tariff barriers are relatively low, although tariffs for the agricultural sector are considerably higher. On the other hand, outdated labor regulations, a lack of qualified workforce, and inefficient financial management inhibit the country's trade and economic development. Honduras imports goods with very high added value, but exports low added value products. The country's main imports include petroleum oils (13.5%), medicaments (4.7%), flat-rolled products of iron or non-alloy steel (3%), motor vehicles for the transport of goods (2.8%), and motor cars (2.2%); while exports are led by coffee (26%), insulated "incl. enameled or anodized" wire (16.3%), crustaceans (10.4%), palm oil and its fractions (4.7%), and gold (3.3% - data Comtrade).

As per the latest available Comtrade data, Honduras mainly exports towards the United States (43.3%), Germany (6.7%), El Salvador (5.9%), Guatemala (4.5%), Nicaragua (4.3%), and Belgium (3.8%); with imports coming chiefly from the United States (34.3%), China (17.9%), Mexico (7.6%), Guatemala (5.6%), and El Salvador (4.4%). Honduras is a member of the WTO and CACM, and has trade agreements with the EU, Peru, Canada, Mexico, Colombia, Taiwan, Panama, Chile, the Dominican Republic, Venezuela, South Korea, and the United Kingdom.

According to the Central Bank, in 2023, the trade deficit in goods abroad amounted to USD 7,979.2 million, reflecting a decrease of 5.6% (USD 473.3 million) compared to the previous year. This decline is attributed to a USD 437.1 million increase in the surplus of goods for transformation (maquila), primarily linked to reduced imports. Exports of goods totaled USD 11,348.2 million, marking a 7.3% decrease (USD 898.7 million) from the previous year. This decline is primarily due to a 12.0% decrease in exports of goods produced in the processing industry (maquila), driven by reduced international demand for textile products. However, noteworthy growth was observed in automotive harnesses with a USD 188.6 million increase, bananas with USD 46.3 million, and certain manufactured products like sugar with USD 39.5 million. Imports of goods amounted to USD 19,327.4 million in 2023, representing a 6.6% decrease (USD 1,372.0 million) compared to the previous year. This reduction is mainly attributed to a decrease of USD 1,170.5 million (26.7%) in imports of goods for processing (maquila), particularly textile materials. Additionally, imports of general merchandise saw a contraction of USD 201.4 million (1.2%), notably in industrial supplies and fuels. Concerning services, the latest data from WTO (referring to 2022) indicate exports worth USD 3.1 billion, a level similar to the one of imports (USD 3.2 billion).

 
Foreign Trade Indicators 20192020202120222023
Imports of Goods (million USD) 12,14910,25315,06718,32117,525
Exports of Goods (million USD) 8,7887,68310,24712,28111,376
Imports of Services (million USD) 2,4191,8172,8503,6213,445
Exports of Services (million USD) 2,9781,9772,8383,2353,707
Imports of Goods and Services (Annual % Change) -2-18335n/a
Exports of Goods and Services (Annual % Change) 2-21216n/a
Trade Balance (million USD) -5,141-3,832-6,699-7,411n/a
Foreign Trade (in % of GDP) 9886100106n/a
Imports of Goods and Services (in % of GDP) 58516265n/a
Exports of Goods and Services (in % of GDP) 40353841n/a

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

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Main Partner Countries

Main Customers
(% of Exports)
2021
United States 43.3%
Germany 6.7%
El Salvador 5.9%
Guatemala 4.5%
Nicaragua 4.3%
See More Countries 35.2%
Main Suppliers
(% of Imports)
2021
United States 34.3%
China 17.9%
Mexico 7.6%
Guatemala 5.6%
El Salvador 4.4%
See More Countries 30.2%

Source: Comtrade, Latest Available Data

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Main Products

5.0 bn USD of products exported in 2021
Coffee, whether or not roasted or decaffeinated;...Coffee, whether or not roasted or decaffeinated; coffee husks and skins; coffee substitutes containing coffee in any proportion 26.0%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 16.3%
Crustaceans, whether in shell or not, live, fresh,...Crustaceans, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine, even smoked, incl. crustaceans in shell cooked by steaming or by boiling in water; flours, meals and pellets of crustaceans, fit for human consumption 10.4%
Palm oil and its fractions, whether or not refined...Palm oil and its fractions, whether or not refined (excl. chemically modified) 4.7%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 3.3%
See More Products 39.3%
11.6 bn USD of products imported in 2021
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 13.5%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 4.7%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled or cold-rolled "cold-reduced", clad, plated or coated 3.0%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab 2.8%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 2.2%
See More Products 73.7%

Source: Comtrade, Latest Available Data

 

To go further, check out our service Import Controls and Export Controls

To go further, check out our service Import-Export Flows

 
 

Main Services

Source: United Nations Statistics Division, Latest Available Data

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List of tariffs and local taxes that apply to your product on our service Customs Duties and Local Taxes

 

Trade Compliance

International Conventions
Member of the World Trade Organization (WTO)
International Economic Cooperation
Member of Free Trade Areas of the Americas (FTAA)

Member of Association of Caribbean States (ACS)

Member of Central American Common Market (CACM)

Member of Central American Four (CA-4) .

Useful Resources
National Organisation of Intellectual Property
The Directorate General of Intellectual Property.
 
 
 

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Latest Update: May 2024

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