Honduras

 

With a GDP of $30 billion, Honduras’ total annual trade with the rest of the world is almost $11 billion, with exports accounting for almost $4 billion and imports accounting for almost $7 billion. The United States is Honduras’ largest trading partner, purchasing more than seventy percent of its total exports. These products include coffee, shrimp, bananas, gold, palm oil, fruit, lobster, and lumber. Over the past decade, imports have increased in terms of absolute dollar value, with the United States getting an increasing share. Currently, the top Honduran imports from the United States include oils and lubricants, industrial chemicals, plastic materials, paper and related products, electrical materials and equipment, and medical supplies. However, the profile of it's economy is changing, as Honduras integrates more closely into the global economy.

 

Honduras, with a population of 7.6 million, is now the third largest exporter of apparel and textile products to the U.S. market, behind only Mexico and China, while ranking first among the Central American countries. With the implementation of CAFTA, the best opportunities for U.S. exports of goods and services to Honduras are expected to be in the areas of franchising, food processing, auto parts and service equipment, safety and security equipment, computers and peripherals, computer services, telecommunications, textiles and textile equipment, and electric power generation equipment. On the investment front, the Honduran government has historically been open to foreign investment with relatively limited restrictions. This, too, can be expected to only improve with the implementation of CAFTA.

 

For more information about Honduras, visit any of the following links:  

 

Doing Business In Honduras, U.S. Department of Commerce

The World Factbook, the U.S. Central Intelligence Agency.

Background Note: Honduras, U.S. Department of State

Country profile: Honduras, the BBC

The World Bank Group. Doing Business: Honduras
Florida-Origin Exports to Honduras
Florida's Merchandise Trade with Honduras


The Florida Advantage

Florida knows this region:

  • Bilateral trade between the United States and Honduras is valued close to $9 billion annually. Of this, about 45%—$4 billion—passes through Florida.
  • Exports of Florida-made goods to Honduras total more than $660 million annually.
  • Honduras is one of Florida’s top 25 export markets.
  • Florida’s annual exports of Florida-made goods to the CAFTA countries total close to $5 billion, the highest of the 50 states by a wide margin.
  • About forty-two precent of the total volume of merchandise trade flowing between the United States and the CAFTA countries passes through Florida.
  • Florida's airports offer more direct flights to Central American destinations than all other airports in the United States combined.
  • About 95,000 Hondurans make Florida home, a solid resource that helps maintain cultural and economic ties between the countries.

Learn more about how your business can benefit from a Florida connection to Honduras.