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Honduras: Country Insights
The U.S. is the chief trading partner for Honduras, supplying 46.2 percent of Honduran imports and purchasing 33.4 percent of Honduran exports in 2011 (excluding maquila trade). Bilateral trade between the two nations totaled $10.6 billion in 2011. U.S. exports to Honduras continued to perform well in 2011 reaching $6.1 billion, an increase of 33 percent over 2010.
On August 5, 2004, the United States signed the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) with five Central American countries (Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua) and the Dominican Republic. CAFTA-DR eliminates most tariffs and other barriers for U.S. goods destined for the Central American market, provide protection for U.S. investments and intellectual property, and create more transparent rules and procedures for conducting business.
CAFTA-DR also aims to eliminate intra-Central American tariffs and facilitate increased regional trade, benefiting U.S. companies manufacturing in Honduras. With CAFTA-DR implemented, about 80 percent of U.S. goods now enter the region duty-free, with tariffs on the remaining 20 percent to be phased out by 2016.
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