Honduras’ trade deficit with Asia reached $2.564 million, an increase of $266.9 million.
Honduras’ deficit in its foreign trade in goods reached $5.434.2 million from January to August 2024, representing 13.2 percent more than in the same period last year, the Central Bank of Honduras (BCH) reported Tuesday.
Honduran exports fell by 5.3 per cent until August, compared with the same period in 2023, reaching $7.660.3 million due to lower international shipments of agricultural products, such as bananas, coffee and palm crude oil, the production of which has been affected by weather events and external and local factors, such as lower international prices, pests and lack of labour, according to a report by the State issuer.
The 52.4 % of exports corresponds to general goods and 47.6 % to processing goods, the monetary authority said.
On the other hand, imports increased by 1.6 per cent, to $13,094.4 million, due to the increase in purchases of general goods, such as transport equipment, food and drink and fuels, as well as a greater acquisition of maquila products.
The BCH detailed that 82.7 per cent of imports are for general goods and the remaining 17.3 % to goods for processing.
In addition, he noted that Honduras’ foreign trade has 57.6 per cent in North America (United States, Canada and Mexico) 57.6 per cent ($4.43,6 million) of total exports and 40.8 per cent ($5.337.1 million) of imports.
Honduras’ trade balance with Central America showed a deficit of $1,060.7 million, down by $30.4 million in year-on-year terms, due to the decrease in imports of iron or steel bars and laminated products from Costa Rica, as well as textile products from El Salvador.
Honduras’ trade deficit with Asia reached $2.564 billion, an increase of $266.9 million, due to higher imports of motorcycles, hydraulic cement, electric generators and electric machines from China, and cars from Thailand, coupled with lower shrimp and sugar purchases to Taiwan.
Finally, the trade surplus with Europe stood at $46.5 million, representing a decrease of 241.2 million, due to a lower volume exported of coffee to Germany and a decrease in exports of palm crude oil to Spain, Italy and the Netherlands, the Central Bank of Honduras said.
This article has been translated after first appearing in Tunota