Page "Economy of Honduras" Paragraph 100

In the early 1990s, the United States was by far Honduras's leading trading partner, with Japan a distant second.

United States exports to Honduras in 1992 were valued at US $ 533 million, about 54 percent of the country's total imports of US $ 983 million.

Most of the rest of Honduras's imports come from its Central American neighbors.

Despite its status as beneficiary of both the Caribbean Basin Initiative ( CBI ) and the Generalized System of Preferences ( GSP )-- both of which confer duty free status on Honduran imports to the United States — Honduras has run a long-standing trade deficit with the United States.

Total exports of goods and services by Honduras in 1992 were US $ 843 million, of which about 52 percent went to the United States.

The current account deficit, however, continues to rise, from US $ 264 million in 1992 to an estimated US $ 370 million deficit in 1993.