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. Belize’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
bananas, cacao, citrus, sugar; fish, cultured shrimp; lumber
Industries
garment production, food processing, tourism, construction, oil
Industrial Production Growth Rate
-0.6% (2017 est.); country comparison to the world: 172;
Labor Force
120,500 (2008 est.); note: shortage of skilled labor and all types of technical personnel; country comparison to the world: 180;
Unemployment Rate
9% (2017 est.); 8% (2016 est.); country comparison to the world: 130;
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.)
Public Debt
99% of GDP (2017 est.); 95.9% of GDP (2016 est.); country comparison to the world: 17;
Central Bank Discount Rate
9.58% (1 November 2017); 9.14% (1 November 2016); country comparison to the world: 26;
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$768.8 million (31 December 2017 est.); $735.9 million (31 December 2016 est.); country comparison to the world: 162;
Stock of Broad Money
$768.8 million (31 December 2017 est.); $735.9 million (31 December 2016 est.); country comparison to the world: 166;
Stock of Domestic Credit
$1.323 billion (31 December 2017 est.); $1.278 billion (31 December 2016 est.); country comparison to the world: 163;
Market Value of Publicly Traded Shares
NA;
Reserves of Foreign Exchange and Gold
$312.1 million (31 December 2017 est.); $376.7 million (31 December 2016 est.); country comparison to the world: 167;
Debt External
$1.315 billion (31 December 2017 est.); $1.338 billion (31 December 2016 est.); country comparison to the world: 162;
Stock of Direct Foreign Investment at Home
NA;
Stock of Direct Foreign Investment Abroad
Exchange Rates
Belizean dollars (BZD) per US dollar -; 2 (2017 est.); 2 (2016 est.); 2 (2015 est.); 2 (2014 est.); 2 (2013 est.);
