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Honduras' trade deficit increased in January because of the decrease in fruit exports

In January 2021, the trade balance deficit of Honduras stood at 464.3 million dollars, i.e. 1.9% higher than in the same month of the previous year.

In that period, exports decreased by 12.9% when compared to January of 2020, totaling 358.7 million dollars, according to data published by the Central Bank of Honduras (BCH). This reduction is due to the drop in sales of coffee, bananas, melons, and watermelons; a consequence of the contraction in external demand and the negative effects caused by tropical storms Eta and Iota in November of last year.

Imports also decreased and amounting to 823 million dollars, i.e. 5.2% less than in January of 2020, because there were lower purchases of fuels, raw materials, and consumer goods.

According to BCH data, Latin America was the main trading partner of Honduras in January with 115.4 million dollars. It was followed by the United States with 110.9 million, Central America with 99.4 million dollars, and Europe with 95.9 million dollars.

Honduras' main suppliers were the United States, Central America, Europe, and some Latin American countries.

The country closed 2020 with a trade deficit of 4,699.2 million dollars, i.e. 23.2% less than in 2019, due to the contraction of the economic activity caused by the pandemic and the damage left by Eta and Iota.

 

Source: efeagro.com 


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