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Economy Overview

Tourism is the number one foreign exchange earner in this small economy, followed by exports of sugar, bananas, citrus, marine products, and crude oil.The government's expansionary monetary and fiscal policies, initiated in September 1998, led to GDP growth averaging nearly 4% in 1999-2007, but GPD growth has averaged only 2.1% from 2007-2016, with 2.5% growth estimated for 2017. Belizeâ€™s dependence on energy imports makes it susceptible to energy price shocks.Although Belize has the third highest per capita income in Central America, the average income figure masks a huge income disparity between rich and poor, and a key government objective remains reducing poverty and inequality with the help of international donors. High unemployment, a growing trade deficit and heavy foreign debt burden continue to be major concerns. Belize faces continued pressure from rising sovereign debt, and a growing trade imbalance.

Agriculture Products

sugar care, oranges, bananas, maize, poultry, rice, sorghum, papayas, grapefruit, soybeans

Industries

garment production, food processing, tourism, construction, oil

Industrial Production Growth Rate

-0.6% (2017 est.)

Labor Force

120,500 (2008 est.)

Labor Force by Occupation

Agriculture: 10.2%

Industry: 18.1%

Services: 71.7% (2007 est.)

Unemployment Rate

0: 9% (2017 est.)

1: 8% (2016 est.)

Population Below Poverty Line

41% (2013 est.)

Household Income or Consumption by Percentage Share

Lowest 10%: NA

Highest 10%: NA

Budget

Revenues: 553.5 million (2017 est.)

Expenditures: 572 million (2017 est.)

Budget Surplus

-1% (of GDP) (2017 est.)

Public Debt

0: 99% of GDP (2017 est.)

1: 95.9% of GDP (2016 est.)

Commercial Bank Prime Lending Rate

Stock of Narrow Money

Stock of Broad Money

Stock of Domestic Credit

Market Value of Publicly Traded Shares

Reserves of Foreign Exchange and Gold

0: $312.1 million (31 December 2017 est.)

1: $376.7 million (31 December 2016 est.)

Debt External

0: $1.315 billion (31 December 2017 est.)

1: $1.338 billion (31 December 2016 est.)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

0: Belizean dollars (BZD) per US dollar -

1: 2 (2017 est.)

2: 2 (2016 est.)

3: 2 (2015 est.)

4: 2 (2014 est.)

5: 2 (2013 est.)

Year	2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

Taxes and Other Revenues

29.9% (of GDP) (2017 est.)

Fiscal Year

1 April - 31 March

Real GDP

$2.43_billion_note
data are
$2.83_billion_note
data are
$2.78_billion_note
data are

GDP Purchasing Power Parity

GDP Real Growth Rate

GDP Per Capital

$6,100_note
data are in 2017 dollars (2020 est.)
$7,300_note
data are in 2017 dollars (2018 est.)
note
data are in 2017 dollars

Inflation Rate

1.1% (2017 est.)
1
0.7% (2016 est.)

Credit Ratings

Moody s rating
Caa3 (2020)
Standard & Poors rating
CCC+ (2020)

Gross National Saving

GDP Composition by end Use

Household consumption
75.1% (2017 est.)
Government consumption
15.2% (2017 est.)
Investment in fixed capital
22.5% (2017 est.)
Investment in inventories
1.2% (2017 est.)
Exports of goods and services
49.1% (2017 est.)
Imports of goods and services
-63.2% (2017 est.)

GDP Composition by Sector of Origin

Agriculture
10.3% (2017 est.)
Industry
21.6% (2017 est.)
Services
68% (2017 est.)

Inflation Rate Consumer Prices

Current Account Balance

0
-$143 million (2017
1
-$163 million (2016

Exports

$710 million note
data are in
$1.1 billion note
data are in
$1.07 billion note
data are in

Exports Partners

United
Kingdom
United
States
Spain
6%
Jamaica
5%
Ireland
5%

Exports Commodities

Raw sugar, bananas, fruit juice, fish products, crude petroleum (2019)

Imports

$900 million note
data are in
$1.2 billion note
data are in
$1.16 billion note
data are in

Imports Partners

United
States
China
13%
Mexico
12%
Guatemala
10%

Imports Commodities

Refined petroleum, cigarettes, recreational boats, natural gas, cars (2019)

Belarus