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flag Honduras Honduras: Trade Profile

Foreign Trade in Figures

Like many other countries of Central America, Honduras has joined WTO in 1995. The signature of the Free-Trade Agreement between Mexico and four more countries of Central America (Guatemala, El Salvador, Nicaragua and Costa Rica) took place on November 22, 2011 and it should facilitate the increase of trade. In the context of this commercial agreement, the country aims to deliver more transparent customs procedures.

The country imports goods with a very high added value and exports products with low technology value, which creates a substantial trade deficit. This is expected to remain at around 20% of GDP during the next decade. Despite an increase in production and the elevated price of coffee (the main export product before bananas), the high cost of fuel and manufactured products create a negative trade balance.

Even if customs duties and non-tariff barriers are relatively low, the agricultural sectors and the industrial production enjoy a genuine public protection. The assets of the country are the quality of its port infrastructures and an open business environment which favors the development of trade. However, outdated labor rules, unskilled labor force and an inefficient financial management are some factors that limit the country's trade development.

Honduras main trading partners are the NAFTA  members (North American Free Trade Agreement, joined by the United States, Mexico and Canada), the members of  the Central American Common Market (CACM) and the European Union. The United States represents the country's best client (more than 70% of exports).

 
Foreign Trade Indicators 20072008200920102011
Imports of Goods (million USD) 8,88810,5097,5608,49010,140
Exports of Goods (million USD) 5,7846,4585,0905,7706,790
Imports of Services (million USD) 1,0581,1771,0771,3121,689
Exports of Services (million USD) 7708669331,0031,086
Imports of Goods and Services (Annual % Change) 1162613-
Exports of Goods and Services (Annual % Change) 34-1312-
Trade Balance (million USD) -3,104-4,052-2,471--
Current Account (million USD) -1,116-1,800-449--
Foreign Trade (in % of GDP) 135137103105-
Imports of Goods and Services (in % of GDP) 81846162-
Exports of Goods and Services (in % of GDP) 53524243-

Source: WTO - World Trade Organization ; World Bank - Last Available Data.

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Main Partner Countries

Main Customers
(% of Exports)
2009
United States 47.7%
El Salvador 7.0%
Germany 6.5%
Guatemala 6.4%
Nicaragua 3.9%
See More Countries 28.6%
Main Suppliers
(% of Imports)
2009
United States 36.0%
Guatemala 10.6%
Mexico 6.6%
El Salvador 6.1%
Costa Rica 4.7%
See More Countries 36.1%

Source: Comtrade, Last Available Data

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Main Products

Main Exports
(% of Exports)
2009
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 19.6%
Unused postage, revenue or similar stamps of...Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognised face value; stamp-impressed paper; banknotes; cheque forms; stock, share or bond certificates and similar documents of title 13.9%
Bananas, incl. plantains, fresh or driedBananas, incl. plantains, fresh or dried 6.9%
Palm oil and its fractions, whether or not refined...Palm oil and its fractions, whether or not refined (excl. chemically modified) 4.7%
Crustaceans, fit for human consumption, whether in...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 4.5%
See More Products 50.4%
Main Imports
(% of Imports)
2009
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 18.3%
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) 5.4%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab 2.4%
Transmission apparatus for radio-telephony,...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 2.1%
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) 1.9%
See More Products 69.9%

Source: Comtrade, Last Available Data

 

To go further, check out our service Import export flows

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Commercial Policy

Main International Economic Cooperation
Member of World Trade Organisation
Member of Free Trade Areas of the Americas (FTAA)

Memeber of Association of Caribbean States (ACS)

Memeber of Central American Common Market (CACM)

Member of Central American Four (CA-4) .

Assessment of Commercial Policy
Country’s commercial policy
Barriers to exchanges
Average Customs Duty (Excluding Agricultural Products)
5.89%
 

List of tariffs and local taxes that apply to your product on our service Customs duties and local taxes

 
Useful Resources



National Organization of Intellectual Property
The Directorate General of Intellectual Property.
 

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Learn more about How to Export to Honduras on Globaltrade.net, the Directory for International Trade Service Providers.
 

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Last Updates: May 2012

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