The economy of Honduras is mainly based on agriculture. The country’s principle income comes from the traditional exports of coffee, bananas, cultivated shrimp and, more recently, apparel and automobile wire harnessing. Honduras is also the country with the third- largest maquiladora sector in the world. Despite its continuing growth and important inward foreign direct investment, Honduras is the second poorest country of Central America. The country faces high inflation and dependence on the US market with a narrow export base and a small manufacturing sector.
In 2014, ITC signed a Memorandum of Understanding with the Secretaría de integración económica centroamericana (SIECA) to support Central America economic development and regional integration. In this context, over the next 3 years ITC work in Central America will mainly focus on regional initiatives that address cross-cutting issues including trade information and market intelligence, regional branding and women economic empowerment. ITC is also partnering with the Inter-American Development Bank (IDB) to strengthen Trade Promotion Organizations on results-based-management.