Exports from Honduras in 2022 (including maquila) totaled US$12,135 million, compared to US$7,926 million in 2016, i.e., increased 53% cumulatively, according to the World Trade Organization (WTO).
The main export products were: textiles and their manufactures (40.5% of the total), coffee (11.7% of the total), machines and appliances, electrical material and their parts (9.7%) and bananas and other fruits (6.5 percent).
Conversely, Honduras’ imports were pegged at US$19.544 billion in 2022, compared to US$12.407 billion in 2016, or 57.5 percent more in that period.
To promote exports, Honduras continues to use special regimes, in particular the free trade zone (or free zones) and taking advantage of preferential market access.
Despite these policies, Honduras’ trade remains highly concentrated in a few products (coffee and textiles) and a single market.
Honduras faces several challenges affecting the competitiveness of its exports and the resilience of its economy.
Honduras’ real GDP expanded 12.5% in 2021 and 4.0% in 2022. Except for agriculture and mining, all other sectors recorded increases in 2022, particularly hotels and restaurants; financial intermediation; manufacturing; and construction.
Exports from Honduras
In 2022, the main import goods were manufactured goods, particularly textile fibers (19.9 percent of the total), fuels (15.2 percent), machinery and equipment (13.5 percent), and chemicals (11.4 percent).
The main market for Honduran exports continues to be the United States, which in 2022 absorbed 50.6% of exports, down from 57.0% recorded in 2016.
It is followed by the European Union (11.4 percent), Nicaragua (8.7 percent), El Salvador (8.5 percent) and Guatemala (5.5 percent).
The United States is also the main origin of imports, with 36.9 percent of total imports in 2022 (42.4 percent in 2016), followed by China (11.5 percent), Guatemala (9.4 percent) and El Salvador (7.7 percent).
The Honduran services balance shows a structural deficit, which increased substantially during the period under review (from US$578.3 million in 2016 to US$2,121.6 million in 2022).