Business - Economics

Honduran Maquilas Face Competition

September 23, 2010 by Catracha Hondurena No Comments

Textile and apparel products manufactured by the Honduran maquila industry – located in the country’s export processing zones – are facing stiff competition in their biggest traditional market, the US, according to a World Trade Organization (WTO) report.

The US absorbs about 75% of all of Honduras’ maquila exports, with enterprises benefiting from preferential trade accords such as the Dominican Republic – Central America Free Trade Agreement (DR-CAFTA).

The Central American economy’s main exports are products from the maquilas, which in 2009 were valued at $2.8bn, or about 54% of the all exports of goods. The vast majority of these maquila enterprises are textiles and apparel firms, and last year generated HNL62.7bn (US$3.32bn) or 79.5% of the total.

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