Honduras (HND) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Honduras-Belgium Trade: In 2022, Honduras exported $100M to Belgium. The main products that Honduras exported to Belgium were Coffee ($53.3M), Knit Sweaters ($16.1M), and Rolled Tobacco ($7.56M). Over the past 5 years the exports of Honduras to Belgium have decreased at an annualized rate of 22.4%, from $356M in 2017 to $100M in 2022.

In 2022, Honduras did not export any services to Belgium.

Belgium-Honduras Trade: In 2022, Belgium exported $72.9M to Honduras. The main products that Belgium exported to Honduras were Vaccines, blood, antisera, toxins and cultures ($44.4M), Other Frozen Vegetables ($15.8M), and Air Pumps ($1.46M). Over the past 5 years the exports of Belgium to Honduras have increased at an annualized rate of 27.1%, from $22M in 2017 to $72.9M in 2022.

In 2022, Belgium did not export any services to Honduras.

Comparison: In 2022, Honduras ranked 88 in the Economic Complexity Index (ECI -0.52), and 97 in total exports ($12.3B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Honduras exported $100M to Belgium. The main products exported from Honduras to Belgium were Coffee ($53.3M), Knit Sweaters ($16.1M), and Rolled Tobacco ($7.56M). During the last 5 years the exports of Honduras to Belgium have decreased at an annualized rate of 22.4%, from $356M in 2017 to $100M in 2022.

In 2017, Belgium exported $72.9M to Honduras. The main products exported from Belgium to Honduras were Vaccines, blood, antisera, toxins and cultures ($44.4M), Other Frozen Vegetables ($15.8M), and Air Pumps ($1.46M). During the last 5 years the exports of Belgium to Honduras have increased at an annualized rate of 27.1%, from $22M in 2022 to $72.9M in 2017.

Exports from Honduras () to Belgium () (2022)

Exports from Belgium () to Honduras () (2022)

Latest Data

Trade between Honduras () and Belgium ()

Honduras Exports

Date

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Honduras
Top DestinationUnited States$6.31B

Belgium
Top DestinationGermany$91.9B

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

In 2022, countries that imported more from Honduras than Belgium included Nicaragua ($1.02B), El Salvador ($940M), and Guatemala ($596M).

In 2022, countries that imported more from Belgium than Honduras included Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

Difference in imports from Belgium () and Honduras () (2022)

Comparative Advantage Honduras - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Honduras had a large net trade with Belgium in the exports of Vegetable Products ($53.6M), Textiles ($28.5M), and Foodstuffs ($9.44M).

During 2017, Belgium had a large net trade with Honduras in the exports of Chemical Products ($48.5M), Foodstuffs ($17.6M), and Machines ($3.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Honduras Belgium+$12.9MCoffee

Top Product Potential Belgium Honduras+$2.55MPackaged Medicaments

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

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Honduras () to Belgium () (2022)

Exports from Belgium () to Honduras () (2022)

Latest Data

Trade between Honduras () and Belgium ()

Honduras Exports

Belgium Exports

Market Competitiveness

Difference in imports from Belgium () and Honduras () (2022)

Comparative Advantage Honduras - Belgium

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Honduras () and Belgium () (2022)

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