Honduras2021 Economic Complexity Trade : -0.5, Rank 84 of 131
false: false, Rank false of 96
2021 Economic Complexity Research : -0.71, Rank 106 of 140
2021 Product Exports | Imports: $9.22B | $15.1B, 100 of 226 | 91 of 226
2021 Per Capita Product Exports | Imports: $916 | $1.5k, 133 of 219 | 134 of 219
Overview In 2021, Honduras was the number 98 economy in the world in terms of GDP (current US$), the number 100 in total exports, the number 91 in total imports, the number 129 economy in terms of GDP per capita (current US$) and the number 84 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Honduras are Coffee ($1.35B), Knit Sweaters ($1.23B), Insulated Wire ($833M), Knit T-shirts ($801M), and Palm Oil ($344M), exporting mostly to United States ($4.61B), El Salvador ($670M), Guatemala ($575M), Nicaragua ($411M), and Germany ($371M).
Imports The top imports of Honduras are Refined Petroleum ($1.44B), Non-Retail Pure Cotton Yarn ($719M), Non-Retail Synthetic Staple Fibers Yarn ($433M), Coated Flat-Rolled Iron ($339M), and Packaged Medicaments ($337M), importing mostly from United States ($5.81B), China ($1.99B), Guatemala ($1.37B), El Salvador ($1.09B), and Mexico ($809M).
Location Honduras borders El Salvador, Guatemala, and Nicaragua by land and Belize, Colombia, Cuba, Mexico, and Cayman Islands by sea.
The following section uses the most recent trade data from partners of Honduras.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2021): Coffee, $1.35B
Top Destination (2021): United States, $4.61B
In 2021, Honduras exported a total of $9.22B, making it the number 100 exporter in the world. During the last five reported years the exports of Honduras have changed by $1.62B from $7.6B in 2016 to $9.22B in 2021.
The most recent exports are led by Coffee ($1.35B), Knit Sweaters ($1.23B), Insulated Wire ($833M), Knit T-shirts ($801M), and Palm Oil ($344M). The most common destination for the exports of Honduras are United States ($4.61B), El Salvador ($670M), Guatemala ($575M), Nicaragua ($411M), and Germany ($371M).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
Honduras Exports Services (2019): $1.18B
Honduras Imports Services (2019): $2.41B
In 2019, Honduras exported $1.18B worth of services. The top services exported by Honduras in 2019 were Personal travel ($492M), Other business services ($238M), Computer and information services ($187M), Transportation ($146M), and Business travel ($54.7M).
The top services imported by Honduras in 2019 were Transportation ($1.18B), Personal travel ($398M), Other business services ($237M), Computer and information services ($168M), and Insurance services ($130M).
Honduras has a high level of specialization in Textile Scraps (102), Coffee (85.3), Melons (72.4), Knit Men's Coats (50.5), and Knit Sweaters (44.1). Specialization is measured using RCA, an index that takes the ratio between Honduras observed and expected exports in each product.
The highest complexity exports of Honduras according to the product complexity index (PCI) are Typewriter, similar ribbons, inked, otherwise prepared for giving impressions, whether or not on spools or in cartridges; ink pads, whether or not inked, with or without boxes (1.04), Synthetic organic colouring matter and preparations based thereon; synthetic organic products used as fluorescent brightening agents or as luminophores; whether or not chemically defined (0.7), Sewing machines; other than book-sewing machines of heading no. 8440; furniture, bases and covers specially designed for sewing machines; sewing machine needles (0.7), Odoriferous substances and mixtures (including alcoholic solutions) with a basis of one or more of these substances, of a kind used as raw materials in industry; other preparations based on odoriferous substances, of a kind used for beverage manufacture (0.48), and Structures of iron or steel and parts thereof; plates, rods, angles, shapes, sections, tubes and the like, prepared for use in structures (0.47). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Honduras according to the relatedness index, were Non-Knit Women's Suits (0.23), Legumes (0.23), Non-fillet Frozen Fish (0.23), Gold (0.23), and Perfume Plants (0.23). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Honduras's economy has become relatively less complex, moving from the 74th to the 84th 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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