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 1999-2007. Oil discoveries in 2006 bolstered the economic growth in 2006 and 2007. Major concerns continue to be the sizable trade deficit and unsustainable foreign debt. In February 2007, the government restructured nearly all of its public external commercial debt, which will reduce interest payments and relieve liquidity concerns. 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
0.5% (2007 est.)
Electricity production
213.5 million kWh (2007 est.)
Electricity Consumption
193.3 million kWh (2006 est.)
Electricity Exports
0 kWh (2007 est.)
Electricity Imports
0 kWh (2007 est.)
Unemployment Rate
9.4% (2006)
Population Below Poverty Line
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $307 million
Expenditures: $344 million (2007 est.)
Central Bank Discount Rate
12% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Domestic Credit
$877.6 million (31 December 2007)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$109 million (31 December 2007 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 (BZD) per US dollar - 2 (2007), 2 (2006), 2 (2005), 2 (2004), 2 (2003)
