Belize exports increase by 6.9% in first 8 months of 2019

Extract from the CARICOM Business Newsletter, Vol 2 No 40 (for week ending 4 October 2019)

The merchandise trade balance in Belize recorded a slight downturn for the first eight months of 2019 relative to the corresponding period in 2018. Merchandise imports for January to August 2019, amounted to $1.3 billion, repre-senting a 3.2% or $40 million increase from the same period last year. On the other hand, merchandise exports for the period January to August 2019 totaled just above $298 mil-lion, up 6.9% or $19.2 million from $278.8 million for the same period last year. A surge in earnings from sugar, coupled with marked increases from both banana and marine exports led to this overall growth over the first eight months of the year. Notwithstanding a drop in world market prices, revenues from sugar rose sharply by more than $23 m, from $86.5 m in 2018 to $110.2 million in 2019, due to a considerable 34.9% increase in exported quantities of this commodity over the period. Imports across most commodity categories grew over the eight-month period, with the larg-est recorded increases being in the categories of ‘Mineral Fuels and Lubricants’ and ‘Manufactured Goods’.

Read Full newsletter:  CARICOM Business Vol 2 No 40