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Trade Profile

Foreign Trade in Figures

Honduras is open to foreign trade, which represents almost 89.9% of the country's GDP (WTO, 2012-2014 average). Non-tariff barriers and tariffs are relatively low, about 6% in 2012 and stable. However, tariffs for the agricultural sector are higher.

The country's strengths are the quality of its port infrastructure and a relatively open business environment, which fosters the development of trade. However, outdated labour regulations, a lack of qualified workforce and inefficient financial management are inhibiting the country's economic development.

The country imports goods with a very high added value (for instance, petroleum and medicines) and exports products with low technological value (the main exports are sweaters, coffee and t-shirts), which creates a substantial trade deficit — USD 1.08 billion in 2014. Due to the depreciation of the local currency, exports should nevertheless become more competitive. The country is also expected to benefit from the recovery in demand from the U.S. and neighbouring countries.

The main export partners of the country are the United States, El Salvador and Guatemala, with the United States representing more than 54% of exports. The main import partners are the United States, Guatemala and China. 

 
Foreign Trade Indicators 20112012201320142015
Imports of Goods (million USD) 11,12611,37110,95311,07011,180
Exports of Goods (million USD) 7,9778,3597,8058,0727,810
Imports of Services (million USD) 1,4171,6891,6431,7451,746
Exports of Services (million USD) 2,2212,2102,3042,4652,634
Imports of Goods and Services (Annual % Change) 136-418
Exports of Goods and Services (Annual % Change) 810-123
Trade Balance (million USD) -4,380-4,128-4,469-4,407-4,620
Foreign Trade (in % of GDP) 122121116113107
Imports of Goods and Services (in % of GDP) 7170686663
Exports of Goods and Services (in % of GDP) 5151484745

Source: WTO – World Trade Organisation ; World Bank - 2016.

Main Partner Countries

Main Customers
(% of Exports)
2014
United States 44.3%
Germany 7.2%
El Salvador 6.1%
Guatemala 5.0%
Nicaragua 4.7%
Mexico 3.6%
Netherlands 2.9%
Costa Rica 2.4%
China 2.0%
Belgium 1.8%
Main Suppliers
(% of Imports)
2014
United States 40.8%
China 11.3%
Guatemala 7.5%
Mexico 6.7%
El Salvador 4.0%
Costa Rica 3.4%
Colombia 2.2%
Brazil 1.7%
Spain 1.7%
Germany 1.6%

Source: Comtrade, Last Available Data

 

Main Products

4.5 bn USD of products exported in 2014
Coffee, whether or not roasted or decaffeinated; coffee husks and skins; coffee substitutes containing coffee in any proportion 17.3%
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 12.8%
Crustaceans, fit for human consumption, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine, incl. crustaceans in shell cooked beforehand by steaming or by boiling in water; flours, meals and pellets of crustaceans, fit for human consumption 7.6%
Palm oil and its fractions, whether or not refined (excl. chemically modified) 5.1%
Bananas, incl. plantains, fresh or dried 4.9%
Cigars, cheroots, cigarillos and cigarettes of tobacco or of tobacco substitutes 2.4%
Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 2.3%
Articles for the conveyance or packaging of goods, of plastics; stoppers, lids, caps and other closures, of plastics 2.1%
Cartons, boxes, cases, bags and other packing containers, of paper, paperboard, cellulose wadding or webs of cellulose fibres, n.e.s.; box files, letter trays, and similar articles, of paperboard of a kind used in offices, shops or the like 1.8%
Soap; organic surface-active products and preparations for use as soap, in the form of bars, cakes, moulded pieces or shapes, whether or not containing soap; organic surface-active products and preparations for washing the skin, in the form of liquid or cream and put up for retail sale, whether or not containing soap; paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent 1.8%
8.0 bn USD of products imported in 2014
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 22.8%
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) 3.9%
Transmission apparatus for radio-telephony, radio-telegraphy, radio-broadcasting or television, whether or not incorporating reception apparatus or sound recording or reproducing apparatus; television cameras; still image video cameras and other video camera recorders; digital cameras 1.8%
Food preparations, n.e.s. 1.8%
Motor vehicles for the transport of goods, incl. chassis with engine and cab 1.7%
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) 1.5%
Oil-cake and other solid residues, whether or not ground or in the form of pellets, resulting from the extraction of soya-bean oil 1.3%
Maize or corn 1.3%
Toilet paper and similar paper, cellulose wadding or webs of cellulose fibres, of a kind used for household or sanitary purposes, in rolls of a width <= 36 cm, or cut to size or shape; handkerchiefs, cleansing tissues, towels, tablecloths, serviettes, napkins for babies, tampons, bed sheets and similar household, sanitary or hospital articles, articles of apparel and clothing accessories, of paper pulp, paper, cellulose wadding or webs of cellulose fibres 1.2%
Bread, pastry, cakes, biscuits and other bakers' wares, whether or not containing cocoa; communion wafers, empty cachets of a kind suitable for pharmaceutical use, sealing wafers, rice paper and similar products 1.2%

Source: Comtrade, Last Available Data

 
 
 

Main Services

1.1 bn USD of services exported in 2015
Travel
58.91%
Communications services
21.47%
Transportation
8.45%
Other business services
5.40%
Government services
3.88%
Computer and information services
0.80%
Cultural and recreational services
0.67%
Financial services
0.34%
Royalties and license fees
0.08%
1.8 bn USD of services imported in 2015
Transportation
55.64%
Travel
22.56%
Insurance services
6.49%
Communications services
4.14%
Other business services
3.67%
Government services
2.71%
Royalties and license fees
2.59%
Financial services
0.86%
Computer and information services
0.82%
Cultural and recreational services
0.52%

Source: United Nations Statistics Division, Last Available Data

 
 

Trade Compliance

International Conventions
Member of World Trade Organisation
Main 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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Last Updates: June 2017