Honduras Energy Storage Power Supply Factory Foreign Trade

Why should US companies export to Honduras?

U.S. companies should consider exporting to Honduras for several reasons. Firstly, Honduras is a Free Trade Agreement (FTA) market. Secondly, it has a strategic location and proximity to the United States. Lastly, Honduras is among the most receptive markets for U.S. goods and services worldwide. More than 200 American companies currently operate in Honduras.

What is the economic system of Honduras?

Honduras currently has a democratic government and a mixed economic system.

Does Honduras have a foreign currency exchange policy?

Honduras has a foreign currency exchange policy that tightly controls access to foreign currency exchange. This policy is unwilling to provide full exchange services to meet the demand for U.S. dollars, forcing companies to retain earnings in Honduras and making it difficult to pay invoices.

How much trade does Honduras have in 2022?

Total bilateral trade in both goods and services between Honduras and the United States was $14 billion in 2022, with a trade surplus of $1.9 billion in favor of the United States. Honduras’ growing population of 10.3 million is highly receptive to U.S. goods and services.

What is the main influence on Honduras' economic activity?

Honduras’ economic activity is highly influenced by economic performance in the United States, particularly tied to exports and family remittances sent from the United States. According to the International Monetary Fund, real Honduran GDP grew by 4 percent in 2022 and is predicted to grow by 3.7 percent in 2023.

How did US exports affect Honduran economy in 2022?

U.S. exports of goods totaled $7.9 billion, up 25 percent from 2021. This increase contributed to the overall growth of Honduran merchandise imports, which amounted to $15.2 billion and grew by 14.9 percent by year-end 2022.