November Figures In from SIB

Updated: December 23, 2015

Before the year is up, the Statistical Institute of Belize issued its latest release and this one has to do with the month of November in regards to consumer price index, CPI and trade. According to the SIB, the prices of goods and services purchased by Belizean households were, on average, one point two percent lower in November 2015, than in November of last year. For the first eleven months of this year, an inflation rate of negative zero point nine percent was recorded. The “Transport” category, which saw a decline of almost ten percent during the period, was the major driving force of this overall decrease in consumer prices. The costs per gallon of premium and regular gasoline were down by twenty five percent and twenty seven percent, respectively, while diesel declined by twenty four percent in comparison to November 2014. All municipalities across the country recorded falling consumer prices during November 2015, with the exception of Dangriga, where prices increased by two point one percent as a result of a greater than average increase in home rental costs. On the other hand Belmopan continues to record the biggest drop in consumer prices with an overall decrease of three point three percent. As for trade statistics, the country imported one hundred and ninety point two million dollars in November. Imports of ‘Machinery and Transport Equipment’ rose sharply by twenty six million dollars, from thirty four million dollars during last November to sixty million dollars million in November 2015, due in large part to eighteen million dollars worth of motor vehicle parts purchased during the month. Importation of ‘Manufactured Goods’ rose by two million dollars owing to greater steel and tire purchases and was the only other notable increase during the month. Merchandise imports for the eleven months from January to November 2015 totaled one point nine billion dollars, a three point two percent or fifty eight point three million dollars increase over the same period last year. On the other hand, Belize exported thirty eight point one million dollars in November. Sugar sales shot up from less than a million dollars in November 2014 to thirteen point four million dollars during this November. The three major products, crude petroleum, marine products and bananas, constituted almost three fourths of Belize’s export in November 2014, but had fallen to less than a half total imports in November 2015. Merchandise exports for the eleven months from January to November 2015 amounted to five hundred and fifteen point three million dollars, down eleven point five percent or sixty six point seven million dollars from the same period last year.