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    Belize Economy - 2003
    https://theodora.com/wfb2003/belize/belize_economy.html
    SOURCE: 2003 CIA WORLD FACTBOOK

      Economy - overview: In this small, essentially private enterprise economy the tourism industry is the number one foreign exchange earner followed by cane sugar, citrus, marine products, bananas, and garments. The government's expansionary monetary and fiscal policies, initiated in September 1998, led to GDP growth of 6.5% in 1999, 10.8% in 2000, 4.6% in 2001, and 3.7% in 2002. Major concerns continue to be the sizable trade deficit and foreign debt. A key short-term objective remains the reduction of poverty with the help of international donors.


      GDP: purchasing power parity - $1.28 billion (2002 est.)


      GDP - real growth rate: 3.7% (2002 est.)


      GDP - per capita: purchasing power parity - $4,900 (2002 est.)


      GDP - composition by sector: agriculture: 18%
      industry: 24%
      services: 58% (2001 est.)


      Population below poverty line: 33% (1999 est.)


      Household income or consumption by percentage share: lowest 10%: NA%
      highest 10%: NA%


      Inflation rate (consumer prices): 1.9% (2002 est.)


      Labor force: 90,000
      note: shortage of skilled labor and all types of technical personnel


      Labor force - by occupation: agriculture 27%, industry 18%, services 55% (2001 est.)


      Unemployment rate: 9.1% (2002)


      Budget: revenues: $224 million
      expenditures: $209 million, including capital expenditures of $70 million (2002 est.)


      Industries: garment production, food processing, tourism, construction


      Industrial production growth rate: 4.6% (1999)


      Electricity - production: 199.5 million kWh (2001)


      Electricity - production by source: fossil fuel: 59.9%
      hydro: 40.1%
      other: 0% (2001)
      nuclear: 0%


      Electricity - consumption: 185.54 million kWh (2001)


      Electricity - exports: 0 kWh (2001)


      Electricity - imports: 0 kWh (2001)


      Oil - production: 0 bbl/day (2001 est.)


      Oil - consumption: 5,000 bbl/day (2001 est.)


      Oil - exports: NA (2001)


      Oil - imports: NA (2001)


      Agriculture - products: bananas, coca, citrus, sugar; fish, cultured shrimp; lumber; garments


      Exports: $290 million f.o.b. (2002 est.)


      Exports - commodities: sugar, bananas, citrus, clothing, fish products, molasses, wood


      Exports - partners: US 53.8%, UK 23.0%, Caricom 6.4%, Mexico 1.0% (2001)


      Imports: $430 million c.i.f. (2002 est.)


      Imports - commodities: machinery and transport equipment, manufactured goods; fuels, chemicals, pharmaceuticals; food, beverages, tobacco


      Imports - partners: US 47.2%, Mexico 11.2%, Central America 5.0%, UK 2.7% (2001)


      Debt - external: $475 million (2001 est.)


      Economic aid - recipient: $NA


      Currency: Belizean dollar (BZD)


      Currency code: BZD


      Exchange rates: Belizean dollars per US dollar - 2 (2002), 2 (2001), 2 (2000), 2 (1999), 2 (1998)


      Fiscal year: 1 April - 31 March


      NOTE: The information regarding Belize on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Belize Economy 2003 should be addressed to the CIA.

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    https://theodora.com/wfb2003/belize/belize_economy.html

    Revised 20-Sep-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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