Imports

In 2022, Honduras imported $17.5 billion worth of products from the world. Compared to 2021, Honduras imported $11.6 billion worth of goods from the world.

The top 5 Honduran imports by value are refined petroleum, dosage mixes of drugs, plated or coated products made of flat iron or non-alloy steel, trucks, and automobiles.

Where Honduras' Main Imports Come From

The most recent country-specific data show that Honduran imports were supplied primarily by suppliers from the United States (34.3 percent of the Honduran total), mainland China (17.9 percent), Mexico (7.6 percent), Guatemala (5.6 percent), El Salvador (4.4 percent), Costa Rica (3.6 percent), Brazil (1.9 percent), Russia (1.84 percent), Japan (1.77%), India (1.72%), Germany (1.6%) and Colombia (1.5%).

Honduras Top 10 Imports

1. Mineral fuels including oil: $1.7 billion (14.4%)

2. Vehicles: $915.6 million (7.9%)

3. Motors, equipment: $858.9 million (7.4%)

4. Machinery including computers: $849.6 million (7.3%)

5. Iron and steel: $724.2 million (6.2%)

6. Pharmaceuticals: $684.3 million (5.9%)

7. Plastics, plastic products: $580.2 million (5%)

8. Cereals: $380.3 million (3.3%)

9. Miscellaneous Food Preparations: $347.5 million (3%)

10. Food industry waste, animal feed: $322.4 million (2.8%)

Honduras' top 10 imports accounted for nearly three-fifths (57.8%) of the total value of products it purchased from other countries.

The value of iron and steel metals purchased by Honduran importers is the fastest-growing of the top 10 import categories, increasing 102.9% from 2020 to 2021. Ranking second in expanding Honduran imports are vehicles, up 94 percent. Honduras' imports of plastics, including plastic materials and plastic products, ranked third in year-over-year growth (up 57.1%).

Exports

In 2022, the Republic of Honduras exported products to the world with a total value of $13.1 billion. The value of Honduran exports increased by 162.8% year-on-year compared to $5 billion in 2021.

Honduras' Best Trading Partners

The most recent country-specific data shows that Honduran exports were purchased by importers from the United States (43.3% of the Honduran total), Germany (6.7%), El Salvador (5.9%), Guatemala (4.5%), Nicaragua (4.3%), Belgium (3.8%), the Netherlands (3.4%), the United Kingdom (2.7%), Mexico (2.6%), Costa Rica (2.4%), and the United States (2.6%). ), Costa Rica (2.4%), France (1.7%) and Taiwan (1.5%).

Honduras Top 10 Exports

1. Knitted or crocheted clothing, accessories: $4.4 billion (33.7% of total exports)

2. Coffee, tea, spices: $1.7 billion (13.2%)

3. Electrical machinery, equipment: $1.3 billion (9.6%)

4. Animal and vegetable fats, oils, waxes: $724.6 million (5.5%)

5. Clothing, accessories (not knitted or crocheted): $609.2 million (4.7%)

6. Fruits, nuts: $582.4 million (4.5%)

7. Fish: $407.6 million (3.1%)

8. Tobacco, artificial substitutes: $266.2 million (2%)

9. Vegetables/fruit/nut products: $189.1 million (1.4%)

10. Steel: $172.7 million (1.3%)

Honduras' top 10 exports accounted for 79.2% of its total global exports.

Knitted or crocheted apparel and accessories are the fastest growing of the top ten export categories, growing by 99,201 units from 2021 to 2022. The second highest improvement in export sales was for non-knitted and non-crocheted apparel and accessories, which grew by 9,523 percent. Honduras' exports of tobacco (including manufactured substitutes) grew the third fastest, by 315.9 percent.

The only decline in Honduras' top 10 export categories was fish, down -32.2% year-over-year.

Drilling down to more detailed 4-digit HS codes, Honduras' most valuable exports were knitted or crocheted t-shirts and tank tops (16.1% of Honduras' global total), coffee (13.1%), knitted or crocheted jerseys and pullovers (12.1%), insulated wire or cable (8.8%), palm oil (3.9%), bananas (including plantain) (2.4%), crustaceans animals (including lobsters) (2.4%), cigars and cigarettes (1.8%), non-knitted and non-crocheted clothing made from specialty garments (1.4%), followed by knitted or crocheted men's suits and pants (1.4%).

Customs data contains a vast amount of information, and extracting relevant customer contact information can be time-consuming. Is the outcome truly unsatisfactory, or is it due to using customs data in the wrong way, resulting in wasted effort and time?

Utilizing customs data for customer development involves accurately profiling all purchasers and their procurement systems in the target market. This approach swiftly identifies the highest compatibility customers, assesses their credit systems and procurement details, pinpoints premium customers and profit potential, enhances development efficiency, and elevates results. When developing new clients using customs data, consider the following three approaches for reference. (>>>Click to Get Free Access to Customs Data from 80+ Countries<<<)

1. Establishing a Customer Resource Repository by Country

Creating a customer resource repository is akin to your own work record sheet. Begin by utilizing trade tracking functionality to compile a list of all customers from a particular country. Next, perform specific analyses based on factors such as each purchaser's procurement volume, purchase cycle, product specifications, and supplier systems (with emphasis on examining the diversity or singularity of their supply channels; preferably retaining customers with diversified suppliers, as those relying on a single supply channel may be harder to develop). Lastly, filter out the potential high-quality customers constituting 30% of this country's total, and record them in your customer resource repository, allowing flexible categorization by country, time, customer name, follow-up steps, contact numbers, emails, and contacts. (>>>Click to Start Developing Customers for Free<<<)

2. Creating a Customer Resource Repository by Peer Companies

Have a solid understanding of peer companies' English names (including full names, abbreviations, etc.). Utilize the global networking capability of suppliers to generate a list of all clients associated with peer companies within the system. Following this, perform essential analyses on these clients based on factors like procurement volume, procurement cycle, product models, and others. Ultimately, identify and record the key customers of your targeted peer companies in your customer resource repository.(>>>Click to Start Developing Customers for Free<<<)

3. Cataloging New Customers from Each Country

For newly emerging customers from specific countries, use the trade search function to select the country, set the date range and limit product names or customs codes. Check "Newest," and the search results will display high-quality customers that emerged most recently in that country within the designated timeframe. Since these customers are newly established, with recent procurement transactions, their supplier stability might be unsteady. Therefore, prioritize following up with these new potential buyers. Lastly, record all these new prospects in your customer resource repository.、(>>>Click to Start Developing Customers for Free<<<)

All three strategies for utilizing customs data to develop customers can be tailored to your company's actual needs. Depending on market conditions, industry specifics, strategic requirements, etc., find the approach that suits you best, with the sole aim of classifying and organizing your premium customers. Once you've found suitable customers, the next step is to contact them precisely, employing various methods such as phone calls, emails, and online chats.