Statistical Institute Says Sugar is Belize’s Top Export Earner

By
Updated: May 31, 2017

Consumer prices rose on average by two point two percent during April as compared to the same period last year. The latest figures from the Statistical Institute of Belize show that for the first four months of 2017, a year-to-date inflation rate of one point nine percent was recorded. The rise in airfare prices is one of the primary contributors to the overall increase of seventeen point nine percent rise in the Transport sector. Prices in the Fuels and Lubricants’ sub-category increased by eleven point five percent. There was a decrease of one point seven percent in the food and Non-Alcoholic Beverages’ category. The ‘Housing, Water, Electricity, Gas and Other Fuels’ category saw an overall rise of one percent. Belmopan recorded the highest increase in consumer prices for the month at three point six percent while Punta Gorda recorded the lowest rate of inflation at point seven percent.  Belize’s total imports for April were valued at one hundred and forty six point seven million dollars which represents a ten point four percent decrease. A decrease was seen across most categories. The first four months of the year saw four point nine percent decrease in merchandise imports. The Mineral Fuels and Lubricants’ category grew by twenty four point seven million dollars. This is attributed to the continued rise in world market prices for fuel. Total domestic exports for April 2017 amounted to thirty five point seven million dollars, which represents a three percent increase. Sugar was the only major export commodity which saw a sizeable increase, while both citrus and crude petroleum declined considerably.  Merchandise exports saw an increase of twenty seven point one percent. Sugar continues to be Belize’s top export earner, accounting for about a third of total exports.