| Economy | Belize |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
Tourism is the number one foreign exchange earner in this small economy, 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 GDP growth averaging nearly 4% in 1999-2007. Oil discoveries in 2006 bolstered this growth. Exploration efforts have continued and production has increased a small amount. In February 2007, the government restructured nearly all of its public external commercial debt, which helped reduce interest payments and relieved some of the country's liquidity concerns. Growth slipped to 0% in 2009, 2.7% in 2010, and 2.5% in 2011 as a result of the global slowdown, natural disasters, and a temporary drop in the price of oil. With weak economic growth and a large public debt burden, fiscal spending is likely to be tight. A key government objective remains the reduction of poverty and inequality with the help of international donors. Although Belize has the second highest per capita income in Central America, the average income figure masks a huge income disparity between rich and poor. The 2010 Poverty Assessment shows that more than 4 out of 10 people live in poverty. The sizable trade deficit and heavy foreign debt burden continue to be major concerns. |
GDP (purchasing power parity):
|
$2.754 billion (2011 est.)
$2.754 billion (2010 est.)
$2.652 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$8,300 (2011 est.)
$8,200 (2010 est.)
$8,100 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$1.5 billion (2011 est.) |
GDP - real growth rate:
|
2.5% (2011 est.)
2.7% (2010 est.)
0% (2009 est.) |
GDP - composition by sector:
|
agriculture: 9.7%
industry: 19.8%
services: 58.7% (2011 est.) |
Investment (gross fixed):
|
25.5% of GDP (2011 est.) |
Population below poverty line:
|
43% (2010 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):
|
3.1% (2011 est.)
0.9% (2010 est.) |
Central bank discount rate:
|
18% (31 December 2010 est.)
12% (31 December 2009 est.) |
Commercial bank prime lending rate:
|
13.9% (31 December 2011 est.)
13.9% (31 December 2010 est.) |
Stock of money:
|
$345.7 million (31 December 2008)
$323.9 million (31 December 2007) |
Stock of money - per capita:
|
1,077 USD per capita |
Stock of quasi money:
|
$653.8 million (31 December 2008)
$549 million (31 December 2007) |
Stock of quasi money - per capita:
|
2,037 USD per capita |
Stock of domestic credit:
|
$1.1 billion (31 December 2011 est.)
$950 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
3,426 USD per capita |
Stock of narrow money:
|
$365.3 million (31 December 2011 est.)
$354 million (31 December 2010 est.) |
Stock of broad money:
|
$1.185 billion (31 December 2011 est.)
$1.282 billion (31 December 2010 est.) |
Labor force:
|
120,500
note: shortage of skilled labor and all types of technical personnel (2008 est.) |
Labor force participation rate:
|
37.53 % of population |
Labor force - by occupation:
|
agriculture: 10.2%
industry: 18.1%
services: 71.7% (2007) |
Unemployment rate:
|
13.1% (2009)
8.2% (2008) |
Unemployment, youth ages 15-24:
|
total: 19.5%
male: 13.8%
female: 28.8% (2005) |
Budget:
|
revenues: $400 million
expenditures: $450 million (2011 est.) |
Budget revenues per capita:
|
1,246 USD per capita |
Taxes and other revenues:
|
26.7% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-3.3% of GDP (2011 est.) |
Public debt:
|
83.6% of GDP (2011 est.)
83% of GDP (2010 est.) |
Industries:
|
garment production, food processing, tourism, construction, oil |
Industrial production growth rate:
|
1.4% (2010 est.) |
Electricity - production:
|
215.5 million kWh (2008 est.) |
Electricity - production per capita:
|
672 kWh per capita |
Electricity - consumption:
|
200.4 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
625 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
4,252 bbl/day (2010 est.) |
Oil - production per capita:
|
13,242 bbl/day per capita |
Oil - consumption:
|
7,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
7.96 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
7,326 bbl/day (2009 est.) |
Oil - proved reserves:
|
6.7 million bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
bananas, cacao, citrus, sugar; fish, cultured shrimp; lumber |
Current account balance:
|
-$25.3 million (2011 est.)
-$4.418 million (2010 est.) |
Current account balance - per capita:
|
-78 USD per capita |
Exports:
|
$511.7 million (2011 est.)
$475.7 million (2010 est.) |
Exports per capita:
|
1,594 USD per capita |
Exports - commodities:
|
sugar, bananas, citrus, clothing, fish products, molasses, wood, crude oil |
Exports - partners:
|
US 30.3%, UK 20.8%, Costa Rica 12.7%, Cote dIvoire 4.6%, Nigeria 4.6% (2010) |
Imports:
|
$706.1 million (2011 est.)
$647.2 million (2010 est.) |
Imports per capita:
|
2,199 USD per capita |
Imports - commodities:
|
machinery and transport equipment, manufactured goods; fuels, chemicals, pharmaceuticals; food, beverages, tobacco |
Imports - partners:
|
US 34%, Mexico 14.3%, Cuba 9.5%, Guatemala 7.6%, China 4.7%, Trinidad and Tobago 4.3% (2010) |
Reserves of foreign exchange and gold:
|
$196.8 million (31 December 2011 est.)
$201.7 million (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
613 USD per capita |
Debt - external:
|
$1.01 billion (2009 est.)
$954.1 million (2008 est.) |
Debt - external - per capita:
|
3,146 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Belizean dollar (BZD) |
Exchange rates:
|
Belizean dollars (BZD) per US dollar -
2 (2011 est.)
2 (2010 est.)
2 (2009)
2 (2008)
2 (2007) |
Fiscal year:
|
1 April - 31 March |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
