Economy - overview:
Tourism is the number one foreign exchange earner in this small economy, 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 GDP growth averaging nearly 4% in 1999-2007. Oil discoveries in 2006 bolstered this growth. Exploration efforts have continued and production has increased a small amount. 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. Growth slipped to 0% in 2009, 2.7% in 2010, and 2.5% in 2011 as a result of the global slowdown, natural disasters, and a temporary drop in the price of oil. With weak economic growth and a large public debt burden, fiscal spending is likely to be tight. A key government objective remains the reduction of poverty and inequality with the help of international donors. Although Belize has the second highest per capita income in Central America, the average income figure masks a huge income disparity between rich and poor. The 2010 Poverty Assessment shows that more than 4 out of 10 people live in poverty. The sizable trade deficit and heavy foreign debt burden continue to be major concerns.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: 1) The information regarding Belize on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Belize Economy 2012 information contained here. All suggestions for corrections of any errors about Belize Economy 2012 should be addressed to the CIA.
$2.754 billion (2011 est.)
country comparison to the world: 178
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$1.5 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
2.5% (2011 est.)
country comparison to the world: 134
[see also: GDP - real growth rate country ranks ]
$8,300 (2011 est.)
country comparison to the world: 119
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 9.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 19.8%
[see also: GDP - composition by sector - industry country ranks ]
services: 58.7% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
120,500
country comparison to the world: 178
note: shortage of skilled labor and all types of technical personnel (2008 est.)
[see also: Labor force country ranks ]
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 ]
13.1% (2009)
country comparison to the world: 137
[see also: Unemployment rate country ranks ]
43% (2010 est.)
[see also: Population below poverty line country ranks ]
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 ]
25.5% of GDP (2011 est.)
country comparison to the world: 61
[see also: Investment (gross fixed) country ranks ]
revenues: $400 million
[see also: Budget revenues country ranks ]
expenditures: $450 million (2011 est.)
[see also: Budget expenditures country ranks ]
26.7% of GDP (2011 est.)
country comparison to the world: 112
[see also: Taxes and other revenues country ranks ]
-3.3% of GDP (2011 est.)
country comparison to the world: 110
[see also: Budget surplus (+) or deficit (-) country ranks ]
83.6% of GDP (2011 est.)
country comparison to the world: 18
[see also: Public debt country ranks ]
3.1% (2011 est.)
country comparison to the world: 55
[see also: Inflation rate (consumer prices) country ranks ]
18% (31 December 2010 est.)
country comparison to the world: 21
[see also: Central bank discount rate country ranks ]
13.9% (31 December 2011 est.)
country comparison to the world: 61
[see also: Commercial bank prime lending rate country ranks ]
$365.3 million (31 December 2011 est.)
country comparison to the world: 170
[see also: Stock of narrow money country ranks ]
$1.185 billion (31 December 2011 est.)
country comparison to the world: 165
[see also: Stock of broad money country ranks ]
$1.1 billion (31 December 2011 est.)
country comparison to the world: 155
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
bananas, cacao, citrus, sugar; fish, cultured shrimp; lumber
garment production, food processing, tourism, construction, oil
1.4% (2010 est.)
country comparison to the world: 141
[see also: Industrial production growth rate country ranks ]
215.5 million kWh (2008 est.)
country comparison to the world: 175
[see also: Electricity - production country ranks ]
200.4 million kWh (2008 est.)
country comparison to the world: 182
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]
4,252 bbl/day (2010 est.)
country comparison to the world: 96
[see also: Oil - production country ranks ]
7,000 bbl/day (2010 est.)
country comparison to the world: 161
[see also: Oil - consumption country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 153
[see also: Oil - exports country ranks ]
7,326 bbl/day (2009 est.)
country comparison to the world: 146
[see also: Oil - imports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 156
[see also: Natural gas - production country ranks ]
0 cu m (2009 est.)
country comparison to the world: 154
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 62
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 159
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2011 est.)
country comparison to the world: 113
[see also: Natural gas - proved reserves country ranks ]
-$25.3 million (2011 est.)
country comparison to the world: 65
[see also: Current account balance country ranks ]
$511.7 million (2011 est.)
country comparison to the world: 169
[see also: Exports country ranks ]
sugar, bananas, citrus, clothing, fish products, molasses, wood, crude oil
US 30.3%, UK 20.8%, Costa Rica 12.7%, Cote dIvoire 4.6%, Nigeria 4.6% (2010)
$706.1 million (2011 est.)
country comparison to the world: 184
[see also: Imports country ranks ]
machinery and transport equipment, manufactured goods; fuels, chemicals, pharmaceuticals; food, beverages, tobacco
US 34%, Mexico 14.3%, Cuba 9.5%, Guatemala 7.6%, China 4.7%, Trinidad and Tobago 4.3% (2010)
$196.8 million (31 December 2011 est.)
country comparison to the world: 167
[see also: Reserves of foreign exchange and gold country ranks ]
$1.01 billion (2009 est.)
country comparison to the world: 154
[see also: Debt - external country ranks ]
Belizean dollars (BZD) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12