During recent years, Honduras has shown significant economic growth, particularly due to the constant development and growth of its exports. Honduras has continuously developed and supported the growth of the maquila industry and the re-exportation of mainly textile products and it is currently expanding the product line through the introduction of more complex products to this industry that generates considerable revenues for the country. In addition, Honduras has shown growth in the exports of the agricultural, mining, and timber sectors.
DR-CAFTA will support the growth of these sectors which represent an attractive opportunity for American importers who will be able to trade these products free of commercial barriers having 80% of restrictive tariffs in the region eliminated by this agreement. The quality of the products in these particular sectors has created a growing demand for them in the U.S. facilitating free trade of these exports. Low costs and competitive advantages in terms of efficiency and productivity that the Honduran maquila industry possess have been highly attractive for American importers and with the establishment of this free trade zone, growth is expected to accelerate.
Honduras offers an attractive opportunity for American importers in the following market segments:
- Agricultural Sector: Much investment is taking place in this segment to modernize production processes and to diversify the product line by introducing exotic fruits and other products of high demand in the United States.
- Maquila Industry: This industry has had an enormous success in the Honduran economy and with the introduction of a diversity of products after experiencing the success of the textile segment, further growth is expected and demand for these re-exported products is expected to rise.
- Pork Production: Continuous urbanization in the U.S. has hindered pork production in the country. This segment has a high demand in this country posing a great opportunity for Honduras which offers high quality products in this sector and welcomes American companies in the process of relocation.
- Mining: This sector represents an important opportunity for American importers with the passing of the General Mining Law in 1998, which gives a wide variety of incentives for capitalization in this segment. The most important minerals in Honduras are: zinc, silver, lead, and gold.
Information retrieved from: