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LatinNews Regional Monitor: Caribbean & Central America - 17 May 2018

REGION: Guatemala-Honduras customs union boosts bilateral trade; what of the region?

A Guatemalan-Honduran customs union that came into effect in June 2017 has led to a modest increase in bilateral trade. According to figures published by the Guatemalan and Honduran central banks, Guatemalan exports to Honduras in 2017 totalled US$914.9m, a 4.5% year-on-year increase, and Honduran exports to Guatemala totalled US$236.7m, a 0.2% year-on-year increase. The Honduras-Guatemala customs union is the first step towards achieving a Central American customs union loosely based on the European Union (EU) model, a project that has been discussed for decades but has made little progress due to instability and governance issues in the region.

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