Flag Honduras

Econ Complexity (2018): -0.65, Rank 96 of 137

Product Exports (2018): $8.62B, Rank 93 of 222

Exports Per Capita (2018): $899, Rank 194 of 219

Product Imports (2018): $9.54B, Rank 105 of 221

Imports Per Capita (2018): $995, Rank 204 of 219

Service Exports (2015): $1.1B, Rank 113 of 170

Service Imports (2015): $1.79B, Rank 102 of 170

GDP (2018): $24B, CURRENT US$
Rank 111 of 196

GDP growth (2008 - 2018): 73.8%, CURRENT US$
Rank 50 of 196

GDP PC (2018): $2,500, CURRENT US$
Rank 144 of 196

GDP PC GROWTH (2008 - 2018): 44.7%, CURRENT US$
Rank 51 of 196

Overview: This page contains the latest international trade data for Honduras, including service trade data, and tariffs. In 2018 Honduras was the number 111 economy in the world in terms of GDP (current US$), the number 93 in total exports, the number 105 in total imports, and the number 96 most complex economy according to the Economic Complexity Index (ECI). In 2018, Honduras exported $8.62B and imported $9.54B, resulting in a negative trade balance of -$923M. In 2018, Honduras's exports per capita were $899 and its imports per capita were $995.

Trade: The top exports of Honduras are Knit T-shirts ($1.46B), Knit Sweaters ($1.09B), Coffee ($1.02B), Insulated Wire ($626M), and Bananas ($297M). The top imports of Honduras are Refined Petroleum ($1.22B), Non-Retail Pure Cotton Yarn ($617M), Non-Retail Synthetic Staple Fibers Yarn ($427M), Light Rubberized Knitted Fabric ($246M), and Insulated Wire ($213M).

Destinations: Honduras exports mostly to United States ($4.79B), El Salvador ($749M), Nicaragua ($565M), Germany ($365M), and Mexico ($335M), and imports mostly from United States ($4.55B), China ($988M), El Salvador ($906M), Mexico ($739M), and Costa Rica ($394M).

Location: Honduras borders El Salvador, Guatemala, and Nicaragua by land and Belize, Colombia, Cuba, Mexico, and Cayman Islands by sea.

Yearly Exports

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Value
Depth

Top Export (2018): Knit T-shirts, $1.46B

Top Destination (2018): United States, $4.79B

In 2018 Honduras exported a total of $8.62B, making it the number 93 exporter in the world. During the last five reported years the exports of Honduras have changed by $738M from $7.88B in 2013 to $8.62B in 2018.

The most recent exports are led by Knit T-shirts ($1.46B), Knit Sweaters ($1.09B), Coffee ($1.02B), Insulated Wire ($626M), and Bananas ($297M). The most common destination for the exports of Honduras are United States ($4.79B), El Salvador ($749M), Nicaragua ($565M), Germany ($365M), and Mexico ($335M).

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Yearly Imports

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Value
Depth

Top Import (2018): Refined Petroleum, $1.22B

Top Origin (2018): United States, $4.55B

In 2018 Honduras imported $9.54B, making it the number 105 trade destination in the world. During the last five reported years the imports of Honduras changed by -$576M from $10.1B in 2013 to $9.54B in 2018.

The most recent imports of Honduras are led by Refined Petroleum ($1.22B), Non-Retail Pure Cotton Yarn ($617M), Non-Retail Synthetic Staple Fibers Yarn ($427M), Light Rubberized Knitted Fabric ($246M), and Insulated Wire ($213M). The most common import partners for Honduras are United States ($4.55B), China ($988M), El Salvador ($906M), Mexico ($739M), and Costa Rica ($394M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Honduras Exports Services (2015): $1.1B

Honduras Imports Services (2015): $1.79B

In 2015, Honduras exported $1.1B worth of services. The top services exported by Honduras in 2015 were Personal travel ($527M), Telecommunications services ($236M), Business travel ($124M), Sea transport ($65.7M), and Miscellaneous business, professional, and technical services ($57.5M).

The top services imported by Honduras in 2015 were Sea transport ($603M), Personal travel ($330M), Other transport ($249M), Air transport ($146M), and Reinsurance ($107M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Honduras. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Honduras are Meat preparations: of the poultry of heading no. 0105, (i.e. of fowls of the species Gallus domesticus) (89.6%) and Meat and edible offal: of fowls of the species Gallus domesticus, cuts and offal, fresh or chilled (79.3%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Honduras are:
136: Most Favoured Nation duty rate treatement
178: Preferential tariff for Canada
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA
182: Preferential tariff for Chile
188: Preferential tariff for Chinese Taipei
189: Preferential tariff for Colombia
207: Preferential tariff for El Salvador
219: Preferential tariff for European Union countries (AA) Association Agreement
229: Preferential tariff for Guatemala
270: Preferential tariff for Mexico
279: Preferential tariff for Nicaragua
285: Preferential tariff for Panama
289: Preferential tariff for Peru
386: United States - Dominican Republic - Central America Free Trade Agreement (DR-CAFTA; incl. Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic; 2005)

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Honduras's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨82nd to the 96th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Honduras has a high level of specialization in Melons (107), Textile Scraps (97.9), Coffee (70.3), Knit T-shirts (66.8), and Knit Men's Coats (57.1). Specialization is measured using RCA, an index that takes the ratio between Honduras observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Honduras according to the product complexity index (PCI) are Typewriter and similar ribbons, ink pads, etc (1.16), Electric lighting, signal equipment, car electrics nes (1.11), Transfers (decalcomanias) (1), Polymers, natural, modified nes, in primary forms (0.73), and Paper and paper articles nes (0.54). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Honduras according to the relatedness index, are Perfume Plants (0.2), Non-Knit Women's Suits (0.2), Spices (0.2), Non-fillet Fresh Fish (0.2), and Cocoa Beans (0.19). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Honduras is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.