The latest available country-specific data shows that 86.0% of products exported from Honduras was bought by importers in: United States of America (45% of the Honduran total), El Salvador (6.5%), Nicaragua (5.9%), Guatemala (5.7%), Germany (4.8%), Mexico (4.1%), Netherlands (2.8%), Dominican Republic (2.6%), Belgium (2.5%), Italy (2.3%), Costa
Honduras, a Central American nation known for its Mayan ruins, boasts a surprisingly robust manufacturing sector. Though agriculture remains a significant contributor, industries like textiles and auto parts drive economic growth and create jobs.
Leading U.S. export categories to Honduras in 2022 included: petroleum products ($2 billion); textiles and fabrics ($1.5 billion); processed foods ($639 million); other special classification provisions (including chemicals, computers and electronics, electrical equipment, and machinery; plastics and related articles, among others $570 million
Companies considering doing business in Honduras should carefully assess various factors influencing its economic and operational environment. This guide provides an overview of the primary considerations for establishing and running a successful business in Honduras.
The latest available country-specific data shows that 82.2% of products imported into the Honduras was furnished by suppliers in: United States of America (35.4% of the Honduran total), mainland China (16.3%), Mexico (7.2%), Guatemala (5.3%), El Salvador (4.1%), Costa Rica (3.7%), Japan (2.3%), Brazil (2%), India (1.8%), Germany (1.47%
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Honduras, a Central American nation known for its Mayan ruins, boasts a surprisingly robust manufacturing sector. Though agriculture remains a significant contributor, industries like textiles and auto parts drive economic growth and create jobs. This blog post delves into the key players, explores workforce readiness, and examines the future of manufacturing in Honduras.
Honduras’ manufacturing sector is multifaceted, catering to various global markets. Here’s a breakdown of some key industries:
Textiles: The undisputed champion of the textile industry, the textile industry is the crown jewel of Honduran manufacturing. According to the World Bank, it contributes over 7% of the country’s GDP and employs over 173,000 individuals—companies like Fruit of the Loom leverage Honduras’ skilled workforce.
Honduras has carved a niche in specific textile products, catering to a global market. Here’s a breakdown of some critical items manufactured in the country:
Auto Parts: A rising star, the auto parts industry is steadily gaining traction. Honduras has become a significant player in wire harness production, a vital component in automotive electrical systems. Companies like Aptiv Services Honduras S De RL are capitalizing on favorable trade agreements and a skilled workforce to cater to the growing demand for cost-effective auto parts in the US market.
While wire harnesses are currently the most prominent auto parts manufactured in Honduras, there is some evidence of a growing diversification within the Honduran auto parts industry. Here’s a glimpse into what might be emerging:
Food Processing: Honduras’ fertile lands contribute to a thriving food processing industry. Major companies like Ambev Centroamérica (part of the AB InBev beverage giant) process and export coffee, a cornerstone of the Honduran economy [6]. Other processed food exports include fruits, vegetables, and seafood.
Beverages: Beyond coffee, Honduras boasts a growing beverage industry. The Coca-Cola Company, for instance, has a significant presence in Honduras, bottling and distributing popular beverages [7].
Honduran manufacturing success hinges on its dedicated and skilled workforce. Here’s a closer look at its composition and preparedness for jobs in production:
Demographics: The workforce is relatively young, with a median age of around 22 years. This presents a significant advantage for future growth, with a readily available pool of potential employees.
Gender Composition: Women comprise a significant portion of the workforce, particularly in the textile industry. This is a positive indicator of female empowerment within the Honduran economy.
Skills and Training: The current skillset leans towards manual dexterity and assembly line work, well-suited for the textile sector. However, for the auto parts industry and future advancements, there’s a growing need for technical skills in robotics and automation.
While the Honduran workforce possesses a strong foundation, there’s a need to bridge the skills gap for continued manufacturing success:
Technical Education: Increased investment in technical education programs that equip workers with skills like computer-aided design (CAD) and robotics will be crucial for diversifying into more advanced manufacturing sectors.
Vocational Training: Expanding vocational training programs specifically focused on the needs of the auto parts industry can create a readily available pool of skilled workers.
Apprenticeship Programs: Developing apprenticeship programs in collaboration with established manufacturing companies can provide valuable on-the-job training and experience.
The future of Honduran manufacturing looks bright, with opportunities for continued growth:
Technological Integration: Embracing automation and advanced manufacturing techniques can enhance efficiency, productivity, and competitiveness in the global market.
Sustainability: Focusing on eco-friendly practices in the textile industry, like organic cotton and recycled materials, can attract environmentally conscious consumers and international brands.
Infrastructure Development: Continued investment in infrastructure like transportation networks and reliable energy supplies will strengthen supply chains and attract further investment.
The Honduran manufacturing sector drives economic growth and job creation. Honduras can solidify its position as a viable player in the global manufacturing landscape by focusing on diversifying industries, addressing workforce skill gaps, and embracing technological advancements.
Article 590 of the Customs Code establishes the control bases of the free zone regime in Argentina. According to the statute, the free area is an area where the goods are not subject to customs controls. Meanwhile, they are not burdened with the payment of taxes. But on the other hand, they must pay fees for services provided by free zones in Argentina.
In recent years, Ecuador has increasingly become a focal point for international franchises seeking to expand their global footprint. The country’s strategic location in South America and its expanding consumer market have made it an appealing destination for well-known European and American brands.
The United States seeks to promote trade and investments in Uruguay and motivate Uruguayans to invest or establish companies in their own country. There are incentives for pursuing such business opportunities in Uruguay
About Honduras specific companies and products
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