Email

Print

In other news from the SIB, imports continue to climb ever higher while exports continue to slump forcing Belize’s trade deficit to almost the half a billion dollar mark.  

Statistician Tiffany Vasquez told the media which exports increased:

Tiffany Vasquez - Statistician II
"For the periods January to May 2019, Belize's imports were valued at 771.8 million dollars. This was an increase of 2.6 percent or 19.5 million when compared to January to May 2018. Now if we turn our attention to import trends, it is very clear that imports have been trending up with an almost steady increase between years 2010 to 2015. Thereafter its started to decline somewhat until 2017 but went up again in 2018. In general, imports have assumed an upward path over the years. Let's move on to domestic exports. For the period January to May 2019, Belize domestic exports were valued at 176.8 million dollars, this was a decrease of 6.4 percent or a drop a little over 12 million dollars when compared to January to May of 2018. For the period export earnings declined for 3 of the 5 major commodities, namely citrus products, crude petroleum, and sugar. Exports revenue from bananas and marine products however, increased over the 5 month period. Earning citrus exports dropped substantially by almost 29 percent or 11.9 million dollars due primarily to reduce export of orange concentrate along with diminished sales of orange oil over the period."

Belize’s #1 trading partner continues to be the United Kingdom which buys Belize’s sugar and bananas.