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.
0.8% (2017 est.)
-0.5% (2016 est.)
3.8% (2015 est.)
1.1% (2017 est.)
0.7% (2016 est.)
Moody's rating: Caa3 (2020)
Standard & Poors rating: CCC+ (2020)
$2.734 billion (2019 est.)
$2.726 billion (2018 est.)
$2.671 billion (2017 est.)
note: data are in 2017 dollars
$1.854 billion (2017 est.)
$7,005 (2019 est.)
$7,118 (2018 est.)
$7,109 (2017 est.)
note: data are in 2017 dollars
10.1% of GDP (2019 est.)
8.5% of GDP (2018 est.)
10.8% of GDP (2017 est.)
agriculture: 10.3% (2017 est.)
industry: 21.6% (2017 est.)
services: 68% (2017 est.)
household consumption: 75.1% (2017 est.)
government consumption: 15.2% (2017 est.)
investment in fixed capital: 22.5% (2017 est.)
investment in inventories: 1.2% (2017 est.)
exports of goods and services: 49.1% (2017 est.)
imports of goods and services: -63.2% (2017 est.)
Overall score: 55.5 (2020)
Starting a Business score: 72 (2020)
Trading score: 68.2 (2020)
Enforcement score: 50.1 (2020)
sugar care, oranges, bananas, maize, poultry, rice, sorghum, papayas, grapefruit, soybeans
garment production, food processing, tourism, construction, oil
-0.6% (2017 est.)
120,500 (2008 est.)
note: shortage of skilled labor and all types of technical personnel
agriculture: 10.2%
industry: 18.1%
services: 71.7% (2007 est.)
9% (2017 est.)
8% (2016 est.)
41% (2013 est.)
lowest 10%: NA
highest 10%: NA
revenues: 553.5 million (2017 est.)
expenditures: 572 million (2017 est.)
29.9% (of GDP) (2017 est.)
-1% (of GDP) (2017 est.)
99% of GDP (2017 est.)
95.9% of GDP (2016 est.)
1 April - 31 March
-$143 million (2017 est.)
-$163 million (2016 est.)
$457.5 million (2017 est.)
$442.7 million (2016 est.)
United Kingdom 27%, United States 24%, Spain 6%, Jamaica 5%, Ireland 5% (2019)
raw sugar, bananas, fruit juice, fish products, crude petroleum (2019)
$845.9 million (2017 est.)
$916.2 million (2016 est.)
United States 36%, China 13%, Mexico 12%, Guatemala 10% (2019)
refined petroleum, cigarettes, recreational boats, natural gas, cars (2019)
$312.1 million (31 December 2017 est.)
$376.7 million (31 December 2016 est.)
$1.315 billion (31 December 2017 est.)
$1.338 billion (31 December 2016 est.)
Belizean dollars (BZD) per US dollar -
2 (2017 est.)
2 (2016 est.)
2 (2015 est.)
2 (2014 est.)
2 (2013 est.)
NOTE: The information regarding Belize on this page is re-published from the 2021 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Belize 2021 information contained here. All suggestions for corrections of any errors about Belize 2021 should be addressed to the CIA or the source cited on each page.
This page was last modified 16 Dec 23, Copyright © 2023 ITA all rights reserved.