Economy - overview:
Tourism is the number one foreign exchange earner in this small economy, followed by exports of sugar, bananas, citrus, marine products, and crude oil.The government's expansionary monetary and fiscal policies, initiated in September 1998, led to GDP growth averaging nearly 4% in 1999-2007, however GDP growth slowed to 1% in 2015, and 0% in 2016. Oil discoveries in 2006 bolstered this growth and oil exploration continues, but production has fallen in recent years and future oil revenues remain uncertain and are offset by Belize’s growing imports of refined oil.Although Belize has the third highest per capita income in Central America, the average income figure masks a huge income disparity between rich and poor, and a key government objective remains reducing poverty and inequality with the help of international donors. High unemployment, a growing trade deficit and heavy foreign debt burden continue to be major concerns. Belize faces continued pressure from rising sovereign debt, and a growing trade imbalance.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: 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: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
$3.23 billion (2017 est.)
$3.151 billion (2016 est.)
$3.176 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 187
$1.819 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]
2.5% (2017 est.)
-0.8% (2016 est.)
2.9% (2015 est.)
country comparison to the world: 132
[see also: GDP - real growth rate country ranks ]
$8,300 (2017 est.)
$8,400 (2016 est.)
$8,700 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 151
11% of GDP (2017 est.)
11.3% of GDP (2016 est.)
12.1% of GDP (2015 est.)
country comparison to the world: 152
[see also: Gross national saving country ranks ]
household consumption: 75.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 14.1%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 23%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 57.8%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -71.5% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 9.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 13.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 62.2% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
bananas, cacao, citrus, sugar; fish, cultured shrimp; lumber
garment production, food processing, tourism, construction, oil
-2% (2017 est.)
country comparison to the world: 193
[see also: Industrial production growth rate country ranks ]
120,500
note: shortage of skilled labor and all types of technical personnel (2008 est.)
country comparison to the world: 181
[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 est.)
[see also: Labor force - by occupation - services country ranks ]
10.1% (2017 est.)
11.1% (2016 est.)
country comparison to the world: 139
[see also: Unemployment rate country ranks ]
41% (2013 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%
revenues: $500 million
[see also: Budget - revenues country ranks ]
expenditures: $550 million (2017 est.)
[see also: Budget - expenditures country ranks ]
27.5% of GDP (2017 est.)
country comparison to the world: 102
[see also: Taxes and other revenues country ranks ]
-2.7% of GDP (2017 est.)
country comparison to the world: 105
[see also: Budget surplus (+) or deficit (-) country ranks ]
88.5% of GDP (2017 est.)
91.4% of GDP (2016 est.)
country comparison to the world: 28
[see also: Public debt country ranks ]
1 April - 31 March
1.8% (2017 est.)
0.6% (2016 est.)
country comparison to the world: 78
[see also: Inflation rate (consumer prices) country ranks ]
9.86% (1 September 2016)
10.01% (31 December 2015)
country comparison to the world: 24
[see also: Central bank discount rate country ranks ]
9.6% (31 December 2017 est.)
9.84% (31 December 2016 est.)
country comparison to the world: 87
[see also: Commercial bank prime lending rate country ranks ]
$737.5 million (31 December 2017 est.)
$735.9 million (31 December 2016 est.)
country comparison to the world: 162
[see also: Stock of narrow money country ranks ]
$1.311 billion (31 December 2017 est.)
$1.475 billion (31 December 2016 est.)
country comparison to the world: 168
[see also: Stock of broad money country ranks ]
$1.1 billion (31 December 2017 est.)
$1.278 billion (31 December 2016 est.)
country comparison to the world: 166
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
-$145 million (2017 est.)
-$163 million (2016 est.)
country comparison to the world: 85
[see also: Current account balance country ranks ]
$483.4 million (2017 est.)
$442.7 million (2016 est.)
country comparison to the world: 176
[see also: Exports country ranks ]
sugar, bananas, citrus, clothing, fish products, molasses, wood, crude oil
Burma 30.7%, US 22.6%, UK 19.3% (2016)
$944.4 million (2017 est.)
$916.2 million (2016 est.)
country comparison to the world: 181
[see also: Imports country ranks ]
machinery and transport equipment, manufactured goods; fuels, chemicals, pharmaceuticals; food, beverages, tobacco
US 37.2%, China 11.6%, Mexico 10.8%, Guatemala 7% (2016)
$368.3 million (31 December 2017 est.)
$376.7 million (31 December 2016 est.)
country comparison to the world: 152
[see also: Reserves of foreign exchange and gold country ranks ]
$1.326 billion (31 December 2017 est.)
$1.338 billion (31 December 2016 est.)
country comparison to the world: 162
[see also: Debt - external country ranks ]
Belizean dollars (BZD) per US dollar -
2 (2017 est.)
2 (2016 est.)
2 (2015 est.)
2 (2014 est.)
2 (2013 est.)