International Trade in Belize

International Trade in Belize

During the recent years, the economy of Belize has experienced a positive evolution with a sustained level of growthl. The local market is of modest size but Belize's territory (23,000 KM2) is endowed with various resources:  agricultural products (sugar cane, bananas), fishing (shrimp,... Read more

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Market Analyses About Belize (4)

Import and Export Services in Belize (54)

  • Atlantic International Bank Ltd.

    Atlantic International Bank Ltd.

    International Banking, Belize

    Atlantic International Bank Ltd. has over a decade of experience in the international financial service market. We operate 3 offices...
  • Atlantica Translation Company

    Atlantica Translation Company

    Translation Services, Belize

    Professional Translation Services English to Russian, Russian to English: — marketing translation — technical...

Business Tips About Belize (2)

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Overview About International Trade in Belize

Economic Overview

During the recent years, the economy of Belize has experienced a positive evolution with a sustained level of growthl. The local market is of modest size but Belize's territory (23,000 KM2) is endowed with various resources:  agricultural products (sugar cane, bananas), fishing (shrimp, lobster) and energy sources (oil). The national economy relies mainly on services, which contribute up to 60% to GDP, of which 16% comes from tourism. The primary sector constitutes the second economic pole, it represents 15% of GDP (agriculture 9%, fishing 5%, forestry 1%). Finally, the manufacturing sector contributes to nearly 9% of GDP, particularly in the food processing and clothes manufacturing industries. 

 

Belize has an open economy, driven mainly by the private sector. The currency and tax policies implemented by the government since 1998 have enabled a strong GDP growth with an average of 4% in the period between 1999 and 2007. Tourism is the main source of income, followed by the export of agricultural products. A major factor limiting the economic development of Belize remains in its lack of investment in infrastructures. Other major problems are its high trade deficit

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