2023
Flag  
GDP
$2.14TCURRENT US$
Rnk 10 / 195
2013-2023
Flag
GDP GROWTH
16%CURRENT US$
Rnk 150 / 195
2023
Flag
 GDP
$34.4BCURRENT US$
Rnk 104 / 195
2013-2023
Flag
GDP GROWTH
86%CURRENT US$
Rnk 21 / 195
2023
Flag
GDP PC 
$53,431CURRENT US$
Rnk 22 / 195
2013-2023
Flag
GDP PC GROWTH
1.51%CURRENT US$
Rnk 152 / 195
2023
Flag
GDP PC
$3,232CURRENT US$
Rnk 141 / 196
2013-2023
Flag
GDP PC GROWTH
55.3%CURRENT US$
Rnk 38 / 195

About

Canada-Honduras Trade: In 2023, Canada exported $83.5M to Honduras. The main products that Canada exported to Honduras were Cars ($19.6M), Potassic Fertilizers ($16.1M), and Pig Meat ($2.64M). Over the past 5 years the exports of Canada to Honduras have increased at an annualized rate of 5.71%, from $63.3M in 2018 to $83.5M in 2023.

In 2020, Canada exported services to Honduras worth $6.71M, with Travel ($6.71M) being the largest in terms of value.

Honduras-Canada Trade: In 2023, Honduras exported $423M to Canada. The main products that Honduras exported to Canada were Coffee ($81.2M), Knit T-shirts ($76.6M), and Knit Sweaters ($52M). Over the past 5 years the exports of Honduras to Canada have increased at an annualized rate of 7.32%,  from $297M in 2018 to $423M in 2023.

In 2023, Honduras did not export any services to Canada.

Comparison: In 2023,  Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B). That same year, Honduras ranked 88 in the Economic Complexity Index (ECI -0.53), and 95 in total exports ($11.9B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Canada exported $83.5M to Honduras. The main products exported from Canada to Honduras were Cars ($19.6M), Potassic Fertilizers ($16.1M), and Pig Meat ($2.64M). During the last 5 years the exports of Canada to Honduras have increased at an annualized rate of 5.71%, from $63.3M in 2018 to $83.5M in 2023.

In 2018, Honduras exported $423M to Canada. The main products exported from Honduras to Canada were Coffee ($81.2M), Knit T-shirts ($76.6M), and Knit Sweaters ($52M). During the last 5 years the exports of Honduras to Canada have increased at an annualized rate of 7.32%, from $297M in 2023 to $423M in 2018.

Exports from Canada (Flag) to Honduras (Flag) (2023)

Exports from Honduras (Flag) to Canada (Flag) (2023)

Market Competitiveness

Color
Canada
Top Destination
United States$410B
Honduras
Top Destination
United States$5.87B

This map shows whether countries import more from Canada or Honduras. Each country is colored based on the difference in imports they receive from Canada and Honduras or the difference in the growth in imports.

In 2023, countries that imported more from Canada than Honduras included United States ($410B), China ($31.1B), and United Kingdom ($18B).

In 2023, countries that imported more from Honduras than Canada included Nicaragua ($980M), El Salvador ($796M), and Guatemala ($616M).

Difference in imports from Honduras (Flag) and Canada (Flag) (2023)

Comparative Advantage Canada - Honduras

Flow
Scale

This chart compares trade between Canada and Honduras by product, considering products traded by both, Canada and Honduras.

During 2023, Canada had a large net trade with Honduras in the exports of Transportation ($22.8M), Chemical Products ($21.5M), and Machines ($7.92M).

During 2018, Honduras had a large net trade with Canada in the exports of Textiles ($171M), Vegetable Products ($162M), and Machines ($62.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Canada Honduras+$2.79MPotassic Fertilizers
Top Product Potential Honduras Canada+$29.4MInsulated Wire

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Canada and Honduras. This means that a dot/product with the flag of Canada indicates it has a comparative advantage over Honduras. Similarly, a dot/product with the flag of Honduras indicates it has a comparative advantage over Canada.

Product Space of Canada (Flag) and Honduras (Flag) (2023)

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