Exporting to Honduras

Honduras is a Central American country which borders the Caribbean Sea to the north and the Pacific Ocean to the south. It has a population of 9.4 million. In the year up until March 2019, UK exports totalled £26 million (ONS, 2019).

Growing import market

The import market has seen steady growth for the last six years. It is expected to continue growing until at least 2024 (IMF, 2019). UK exports to Honduras rose by 73.3% during the year up until 2019 (ONS, 2019). If you are thinking of exporting to Honduras or looking for a base to expand into the South American market, now could be a great time to do so.

Improving economy

Unemployment has fallen year on year since 2014, and this trend is expected to continue. GDP growth has remained positive for the same period, and GDP per capita is set to continue increasing until at least 2024 (IMF, 2019). This should lead to an increase in spending power for the local consumer.

Ease of doing business

133rd

out of 190 countries (World Bank, 2020)

Currency

Honduran Lempira

Business language

Spanish (you are likely to need a translator)

GDP per capita

$2,523

UK is $41,030 (IMF, 2019)

Economic growth

3.7%

(IMF, 2019)

Time zone

GMT -6

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.