| COUNTRIES | GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Belize Economy 2011
https://theodora.com/wfb2011/belize/belize_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















Belize Economy 2011
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2011

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, though growth slipped to 3.8% in 2008, 0% in 2009, and 1.5% in 2010 as a result of the global slowdown, natural disasters, and the drop in the price of oil. Oil discoveries in 2006 bolstered economic growth. Exploration efforts continue and production increased a small amount in 2009. Major concerns continue to be the sizable trade deficit and heavy foreign debt burden. In February 2007, the government restructured nearly all of its public external commercial debt, which helped reduce interest payments and relieved some of the country's liquidity concerns. A key objective remains the reduction of poverty and inequality with the help of international donors.

GDP (purchasing power parity):
$2.652 billion (2010 est.)
country comparison to the world: 181

$2.613 billion (2009 est.)
$2.613 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$1.431 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.5% (2010 est.)
country comparison to the world: 166

0% (2009 est.)
3.6% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$8,400 (2010 est.)
country comparison to the world: 121

$8,500 (2009 est.)
$8,700 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 29%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 16.9%
[see also: GDP - composition by sector - industry country ranks ]
services: 54.1% (2008 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
120,500
country comparison to the world: 179
note: shortage of skilled labor and all types of technical personnel (2008 est.)
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 10.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 18.1%
[see also: Labor force - by occupation - industry country ranks ]
services: 71.7% (2007)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
13.1% (2009)
country comparison to the world: 137

8.2% (2008)
[see also: Unemployment rate country ranks ]

Population below poverty line:
33.5% (2002 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Investment (gross fixed):
26.2% of GDP (2009 est.)
country comparison to the world: 37
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $370.5 million
[see also: Budget - revenues country ranks ]
expenditures: $418 million (2009 est.)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
4.1% (2010 est.)
country comparison to the world: 118

-1.1% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
12% (31 December 2009)
country comparison to the world: 31

12% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
14.08% (31 December 2009 est.)
country comparison to the world: 53

14.14% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$389.5 million (31 December 2010 est)

$336.5 million (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.351 billion (31 December 2010 est.)

$1.084 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.291 billion (31 December 2010 est.)
country comparison to the world: 142

$1.036 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

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

Industries:
garment production, food processing, tourism, construction, oil

Industrial production growth rate:
1.4% (2009 est.)
country comparison to the world: 142
[see also: Industrial production growth rate country ranks ]

Electricity - production:
213.5 million kWh (2007 est.)
country comparison to the world: 177
[see also: Electricity - production country ranks ]

Electricity - consumption:
198.5 million kWh (2007 est.)
country comparison to the world: 178
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
248.4 million kWh (2005)
[see also: Electricity - imports country ranks ]

Oil - production:
3,990 bbl/day (2009 est.)
country comparison to the world: 98
[see also: Oil - production country ranks ]

Oil - consumption:
7,000 bbl/day (2009 est.)
country comparison to the world: 158
[see also: Oil - consumption country ranks ]

Oil - exports:
2,260 bbl/day (2007 est.)
country comparison to the world: 112
[see also: Oil - exports country ranks ]

Oil - imports:
7,204 bbl/day (2007 est.)
country comparison to the world: 147
[see also: Oil - imports country ranks ]

Oil - proved reserves:
6.7 million bbl (1 January 2010 est.)
country comparison to the world: 93
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 96
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 207
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 56
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 83
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 202
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$151 million (2010 est.)
country comparison to the world: 84

-$93.3 million (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$404 million (2010 est.)
country comparison to the world: 172

$381.9 million (2009 est.)
[see also: Exports country ranks ]

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

Exports - partners:
US 30.7%, UK 29.77%, Nigeria 4.9%, Cote d'Ivoire 4.45% (2009)

Imports:
$740 million (2010 est.)
country comparison to the world: 182

$620.5 million (2009 est.)
[see also: Imports country ranks ]

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

Imports - partners:
US 33.65%, Mexico 14.17%, Cuba 8.51%, Guatemala 6.75%, Spain 6.07%, China 4.12% (2009)

Reserves of foreign exchange and gold:
$219 million (31 December 2010 est.)
country comparison to the world: 126

$213.7 million (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.01 billion (2009 est.)
country comparison to the world: 151

$954.1 million (2008 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Belizean dollars (BZD) per US dollar - 2 (2010), 2 (2009), 2 (2008), 2 (2007), 2 (2006)


NOTE: The information regarding Belize on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Belize Economy 2011 information contained here. All suggestions for corrections of any errors about Belize Economy 2011 should be addressed to the CIA.






This page was last modified 09-Feb-11
Copyright © 1995-2020 ITA (all rights reserved).