| People | Belize |
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Economy - overview:
|
In this small, essentially private-enterprise economy, tourism is the number one foreign exchange earner followed by exports of marine products, citrus, cane sugar, bananas, and garments. The government's expansionary monetary and fiscal policies, initiated in September 1998, led to sturdy GDP growth averaging nearly 4% in 1999-2007. Oil discoveries in 2006 bolstered the economic growth in 2006 and 2007. Major concerns continue to be the sizable trade deficit and unsustainable foreign debt. In February 2007, the government restructured nearly all of its public external commercial debt, which will reduce interest payments and relieve liquidity concerns. A key short-term objective remains the reduction of poverty with the help of international donors. |
GDP (purchasing power parity):
|
$2.336 billion (2007 est.) |
GDP (official exchange rate):
|
$1.304 billion (2007 est.) |
GDP - real growth rate:
|
3% (2007 est.) |
GDP - per capita (PPP):
|
$7,800 (2007 est.) |
GDP - composition by sector:
|
agriculture: 21.3%
industry: 13.7%
services: 65% (2007 est.) |
Investment (gross fixed):
|
22.4% of GDP (2007 est.) |
Population below poverty line:
|
33.5% (2002 est.) |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
2.8% (2007 est.) |
Labor force:
|
113,000
note: shortage of skilled labor and all types of technical personnel (2006 est.) |
Labor force participation rate:
|
37.51 % of population |
Labor force - by occupation:
|
agriculture: 22.5%
industry: 15.2%
services: 62.3% (2005 est.) |
Unemployment rate:
|
9.4% (2006) |
Budget:
|
revenues: $328.5 million
expenditures: $365 million (2007 est.) |
Budget revenues per capita:
|
1,091 USD per capita |
Public debt:
|
void |
Industries:
|
garment production, food processing, tourism, construction, oil |
Industrial production growth rate:
|
0.5% (2007 est.) |
Electricity - production:
|
200 million kWh (2007 est.) |
Electricity - production per capita:
|
664 kWh per capita |
Electricity - consumption:
|
162.8 million kWh (2005) |
Electricity - consumption - per capita:
|
541 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
2,413 bbl/day (2006) |
Oil - production per capita:
|
8,010 bbl/day per capita |
Oil - consumption:
|
3,000 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
3.63 bbl/year per capita |
Oil - exports:
|
1,960 bbl/day (2006) |
Oil - imports:
|
6,754 bbl/day (2004) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
bananas, cacao, citrus, sugar; fish, cultured shrimp; lumber; garments |
Current account balance:
|
-$54 million (2007 est.) |
Current account balance - per capita:
|
-179 USD per capita |
Exports:
|
$437 million f.o.b. (2007 est.) |
Exports per capita:
|
1,451 USD per capita |
Exports - commodities:
|
sugar, bananas, citrus, clothing, fish products, molasses, wood |
Exports - partners:
|
US 33.9%, UK 33.6%, Cote d'Ivoire 3.7% (2006) |
Imports:
|
$670 million f.o.b. (2007 est.) |
Imports per capita:
|
2,224 USD per capita |
Imports - commodities:
|
machinery and transport equipment, manufactured goods; fuels, chemicals, pharmaceuticals; food, beverages, tobacco |
Imports - partners:
|
US 35.7%, Mexico 13%, Cuba 7.7%, Guatemala 7.2%, China 4.3% (2006) |
Reserves of foreign exchange and gold:
|
$92 million (31 December 2007 est.) |
Reserves of foreign exchange and gold - per capita:
|
306 USD per capita |
Debt - external:
|
$1.2 billion (June 2005 est.) |
Debt - external - per capita:
|
3,984 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$12.91 million (2005) |
Economic aid - recipient per capita:
|
43 USD per capita |
Currency (code):
|
Belizean dollar (BZD) |
Exchange rates:
|
Belizean dollars per US dollar - 2 (2007), 2 (2006), 2 (2005), 2 (2004), 2 (2003) |
Fiscal year:
|
1 April - 31 March |
|
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