And, of course, during that worldwide slowdown, exports also declined across many sectors, including petroleum exportation where not a single barrel of oil has been exported.
Here's more:
Tiffany Vasquez, Statistician II
"For the period January to July of 2020 Belize's Domestic Exports were valued at $220.4 million dollars, this was a decrease of 13.1 percent or $33.3 million when compared to exports of January to July 2019. While this overall downturn was the result of decreased revenues for a few of our major exports, one can't discount the role world market process played in this outcome. Earnings from crude petroleum plunged by $12.9 million dollars after having had no shipments of this commodity since the start of the year. Despite the decline in total export earnings, some commodities fared well over the period, revenues from bananas went up by 4 percent or $1.7 million dollars to 49 million. The largest increase however, came from red kidney beans with revenues from this product rising by nearly $3 million dollars to $10.2 million."
Beans are exported to the UAE.
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