The Statistical Institute of Belize has released its latest data on the country's gross domestic product, the consumer price index, and the external trade for the second quarter of this year.
Tonight, we start with the snapshot of Belize's GDP - which had a downturn in the second quarter. According to the SIB, between April and June 2019, the country's overall level of production declined by 0.8%, when compared to the same period last year.
The primary sector is down by as much as 2.9%, which is largely due to lower sugarcane, citrus, and banana production. The secondary sector went down more significantly by 12.9%, and that decrease is mainly due to less manufacturing and construction activities, as well as the drought, which has negatively affected electricity generation.
Statistician Jacqueline Sabal presented a comprehensive overview today at a SIB press conference. Here's her breakdown of the figures:
Jacqueline Sabal - Statistician II
"The 0.8% decline experienced in the second quarter of this year was caused by decreases in both the primary and secondary sectors. Primary activities decrease due to lower sugar cane, citrus, and banana production, while secondary activities decreased as a result of lower electricity generated during the quarter, along, with the recorded decreases in manufacturing and construction activities."
"Production within primary industries declined by 2.9%, or 2.6 million dollars, totaling 87.8 million dollars, during the second quarter of 2019. Within the primary sector, agriculture, hunting, and forestry declined by 2.8%, or 2.4 million dollars, totaling 83.9 million dollars, while, the fishing industry declined by 5.3%, or 0.2 million dollars, bringing the total for the fishing industry to 3.9 million dollars. Within agriculture, hunting, and forestry. Banana production decreased marginally by 0.1%. Sugar cane deliveries fell 4 .7%, and citrus production dropped 33.8% during the quarter. The only industry within the secondary sector recording an increase in production for the quarter was the livestock industry, increasing by 3.7%."
"Sugar cane production, which had risen during the first 3 months of the year, declined by 4.7%, or a proximately 42.7 thousand metric tonnes in the second quarter, falling from 903.4 thousand metric tonnes to 860.7 thousand metric tonnes."
"Cattle production increased by 14.3% by approximately 900 heads. This can be seen from the increase of 6,900 heads in the second quarter of 2018 to 7,800 in the second quarter of this year."
"Soft drink production decreased from 2,168.3 thousands of gallon produced in 2018, to 1,965.3 thousands of gallons, produced in 2019, reflecting a 9.4% drop in production. Beer production, however, increased by 1.2 percent, from 742.6 thousands of gallons produced in 2018, to 751.3 thousands of gallons produced in 2019. This increase was due to a rise in consumer demand."
"The electricity and water declined, 19%, or 9.1 million, mainly due to a 22.4% decrease in electricity generation. This overshadowed a 5.9% rise in water generation. Due to the prolonged dry season, electricity generated during the quarter dropped by 22.4%, from 121,000-megawatt hours to 99,900-megawatt hours. On the other hand, the dry weather conditions also led to an increase in the demand for water. And water production rose from 661.1 million gallons in 2018 to 699.6 million gallons in 2019."
"The hotels and restaurants sector recorded an increase of 2.8%. This evident in the 5.5% increase in overnight visitors, which subsequently caused a rise in hotel room revenue, by 3.2%. The effects of these increases were only slightly dampened by a decrease in cruise ship visitors, of 2.6%."
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