Economy Overview
In this small, essentially private-enterprise economy tourism is the number one foreign exchange earner followed by exports of marine products, citrus, cane sugar, bananas, and garments. The government's expansionary monetary and fiscal policies, initiated in September 1998, led to sturdy GDP growth averaging nearly 4% in 1999-2006. Major concerns continue to be the sizable trade deficit and unsustainable foreign debt. The government in 2006 announced it would seek a restructuring of its sovereign debt and has been negotiating with international creditors to find an acceptable formula for doing so. A key short-term objective remains the reduction of poverty with the help of international donors.
Agriculture Products
bananas, cacao, citrus, sugar; fish, cultured shrimp; lumber; garments
Industries
garment production, food processing, tourism, construction, oil
Industrial Production Growth Rate
4.6% (1999)
Electricity production
175 million kWh (2005)
Electricity Consumption
162.8 million kWh (2005)
Electricity Exports
0 kWh (2005)
Electricity Imports
0 kWh (2005)
Unemployment Rate
9.4% (2006)
Population Below Poverty Line
33.5% (2002 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $302.6 million
Expenditures: $324.9 million (2006 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$113.7 million (2006 est.)
Debt External
$1.2 billion (June 2005 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Belizean dollars per US dollar - 2 (2006), 2 (2005), 2 (2004), 2 (2003), 2 (2002)
