Guatemala-Honduras Bilateral Trade Analysis 2023
Complete trade statistics: $2.21B total volume •Guatemala surplus: $991.47M
Guatemala → Honduras
$1.60B
Exports (2023)
Honduras → Guatemala
$607.82M
Imports (2023)
Trade Balance
$991.47M
Surplus for Guatemala
Total Trade
$2.21B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Guatemala and Honduras. Green line shows exports from Guatemala, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Guatemala-Honduras commercial relationship and competitive positioning in global markets.
Guatemala → Honduras Exports
Export Market Intelligence
🎯 Strategic Export Focus
Guatemala's export portfolio to Honduras demonstrates strategic specialization, with medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale representing a key competitive advantage in this bilateral market.
Honduras → Guatemala Imports
Import Dependency Profile
📦 Import Strategy Analysis
Guatemala's import pattern from Honduras reveals significant dependencyin soap and organic surface-active products: in the form of bars, cakes, moulded shapes, and paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent, not for toilet use, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Guatemala demonstrates competitive strength in exportingmedicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale to Honduras, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $2.21B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Guatemala-Honduras Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $2.21 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Guatemala maintains a surplus of $991.47 million
- Export Focus: Guatemala's primary exports include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling, cotton yarn: (not sewing thread), single, of uncombed fibres, 85% or more by weight of cotton, less than 714.29 but not less than 232.56 decitex (exceeding 14 but not exceeding 43 metric number), not for retail sale
- Import Dependencies: Key imports from Honduras include soap and organic surface-active products: in the form of bars, cakes, moulded shapes, and paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent, not for toilet use, food preparations: bakers' wares n.e.c. in heading no. 1605, whether or not containing cocoa: communion wafers, empty cachets suitable for pharmaceutical use, sealing wafers, rice papers and similar products, food preparations: n.e.c. in item no. 2106.10
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $2.21B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Guatemala leveraging its comparative advantages in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Guatemala's specialization in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail salecomplements Honduras's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in soap and organic surface-active products: in the form of bars, cakes, moulded shapes, and paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent, not for toilet use.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $2.21B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $2.21B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $2.21 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale and soap and organic surface-active products: in the form of bars, cakes, moulded shapes, and paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent, not for toilet use demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Guatemala's trade surplus of $991.47 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Guatemala and Honduras represents a total trade volume of $2.21 billion in 2023. This partnership demonstrates a favorable trade balance for Guatemala, with exports exceeding importsby $991.47 million.
Export Strengths
Guatemala's exports to Honduras total $1.60 billion, with competitive advantages in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, representing $78.69M or4.9% of bilateral exports.
Import Dependencies
Imports from Honduras amount to $607.82 million, highlighting economic interdependence in soap and organic surface-active products: in the form of bars, cakes, moulded shapes, and paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent, not for toilet use, with Soap and organic surface-active products: in the form of bars, cakes, moulded shapes, and paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent, not for toilet use comprising7.3% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Guatemala's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Guatemala and Honduras in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023