Goods

The total value of goods and services produced in Belize during the fourth quarter rose by almost $4 million dollars from $657.4 million in 2014 to $661.1 million in 2015.
For additional information kindly click here: http://www.sib.org.bz/Portals/0/docs/statistics/gdp/releases/GDP%204th%20Quarter%202015.pdf

Main Domestic Exports

Belize’s production sectors can be classified into primary and secondary industries. Agriculture is the traditional sector with exports of sugar, citrus and bananas. The petroleum industry and other non-traditional exports such as papayas and marine products have recently added significantly to Belize's export basket. Belize experienced an 12.9% reduction in export revenues of $535.3 million in 2015 compared to $614.4 million in 2014

  • Source: Statistical Institute of Belize

Export Markets

Belize’s main export market is the United States (US). Sugar, citrus and petroleum export largely accounts for to the U.S. Export of goods. The U.S. alone generated $201.21 million in 2015. Belize’s second largest export market is the European Union (EU), particularly in the United Kingdom, which accounted for $162.57 million from exports of mainly sugar and bananas. CARICOM is Belize’s third largest export market which accounts for $63.72 million, with Mexico generating $21.98 million in revenue earnings in 2015.

  • Source: Statistical Institute of Belize

Primary Industries

The agricultural sector has traditionally been the largest contributor of GDP. The traditional export crop which are citrus, sugar, and bananas generated $388.8 million in external earnings in 2014

  • Source: Statistics of Belize Annual Report 2015

Other Crops and Horticulture

Non-traditional agriculture production has played an increasingly important role in exports in recent years. While citrus, sugar, and bananas are major contributors towards GDP, there are fairly new crops that are expanding Belize’s food basket. Papayas, grains and legumes, and vegetables are a few examples.

Other Commodities and Natural Resource-Based Activity

• The Fisheries and Aqua-culture industry is one of Belize’s primary natural resource-based activities that has contributed considerably to food security as well as Belize’s export basket.
• In 2015, total output was at 11,677.3 million pounds and generated $88,125.5 million in export revenue. Main exports in this sector are aquarium fish, other fish, lobster, white farm shrimp, pink sea shrimp, crab, and conch. 

  • Source: Statistical Institute of Belize


• The Fisheries sector is governed by three primary legislations: The Fisheries Act, Chapter 210, the High Seas Fishing Act, Chapter 210:01, and the Coastal Zone Management Act, Chapter 329 of the Laws of Belize. The Coastal Zone Management Authority has a mandate for the effective conservation, sustainable management and utilization of Belize’s resources for the benefit of the present and future generations. The Coastal Zone Management Authority operates under the auspices of the Ministry of Agriculture and Fisheries.
Click here for further information: www.agriculture.gov.bz

Secondary Industries

• Belize’s secondary industries comprise of the manufacturing industry, electricity and water supply and construction. Over the past few years, the manufacturing industry has been showing a decrease in production going from $299.3 million in 2010 to $201 million in 2014.
• The petroleum industry has also decreased in production as it had once generated revenue of $181.2 million in 2010 and in 2014 has generated revenue at only $74.5 million. Price volatility is one of the major factors that account for the decrease in revenue output.

  • Source: Statistics of Belize Annual Report 2015


References:

Statistical Institute of Belize: http://www.sib.org.bz/

Ministry of Natural Resources: http://www.mnra.gov.bz/natural-resources/mining-unit/

Ministry of Agriculture and Fisheries: http://www.agriculture.gov.bz/

Statistical Institute of Belize GDP Bulletin: http://www.sib.org.bz/Portals/0/docs/statistics/gdp/releases/GDP%204th%20Quarter%202015.pdf

Statistical Institute of Belize Annual Report: http://www.sib.org.bz/Portals/0/docs/publications/annual%20reports/AnnualReport2015.pdf

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