LatinNews Daily - 16 February 2023

In brief: Honduras’s trade deficit rises

*Honduras’s central bank (BCH) has released new figures which show that the country’s exports totalled US$6.1bn in 2022, up 17.3% on 2021. The BCH said that this owed to an increase of exports of bananas, coffee, palm oil, food products, canned legumes, sugar and plastic products. Meanwhile imports totalled US$15.2bn, up 14.9% on 2021, an increase which the BCH mainly links to a rise of US$974.4m in fuel imports and the increase in international fuel prices. This leaves a trade deficit of US$9.14bn, up 13.4% on 2021. According to the BCH, the US remains Honduras’s biggest trading partner, accounting for roughly a third (US$2bn) of the country’s exports and just over a third (US$5.2bn) of the country’s imports. The same BCH report showed that while Honduras and mainland China do not have diplomatic relations (Honduras is one of the 14 countries which continues to recognise Taiwan), China still remains a significant training partner, accounting for 14% (US$2bn) of imports and US$10.6m of exports last year. This compares with Taiwan which accounted for US$92.7m of imports and US$120.5m of exports.

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