Trade

In the early 1990s, the United States was by far Honduras's leading trading partner, with Japan a distant second. United States exports to Honduras in 1992 were valued at US$533 million, about 54 percent of the country's total imports of US$983 million. Most of the rest of Honduras's imports come from its Central American neighbors (see table 6, Appendix A). Despite its status as beneficiary of both the Caribbean Basin Initiative (CBI) and the Generalized System of Preferences (GSP)--both of which confer dutyfree status on Honduran imports to the United States--Honduras has run a long-standing trade deficit with the United States. Total exports of goods and services by Honduras in 1992 were US$843 million, of which about 52 percent went to the United States (see table 7, Appendix A). The current account deficit, however, continues to rise, from US$264 million in 1992 to an estimated US$370 million deficit in 1993.

Data as of December 1993