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LatinNews Daily - 27 January 2021

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In brief: Honduras registers drop in trade deficit

* Honduras’s central bank (BCH) has released new figures which show that total exports in the first 11 months of 2020 were US$3.8bn, up 1.3% on the same period in 2019. The increase was driven by increses in shipments of bananas, palm oil and gold. Imports in the first 11 months of 2020 totalled US$1.47bn, a 16% drop on the same period in 2019. This leaves a trade deficit of US$1.5bn, a drop of 28.1% on the same period in 2019. The BCH attributes the drop in imports to the contraction in domestic economic activity and reduction in public consumption as a result of the coronavirus (Covid-19) pandemic, which is expected to have caused Honduras’s GDP to have contracted 8% in 2020, according to forecast from the United Nations Economic Commission for Latin America & the Caribbean (Eclac).