Belize’s Economic Activity Grows by 11.5% in First Quarter of 2023

Belize’s Economic Activity Grows by 11.5% in First Quarter of 2023

The Statistical Institute of Belize reports that economic activity for the first quarter of 2023 was up by 11.5 percent when compared to last year. The SIB’s latest preliminary Gross Domestic Product (GDP) figures show that goods and services in the country for the first three months of the year were valued at one point four four billion. This represents an increase of over a hundred and forty-nine million dollars over last year. The tertiary sector, also known as the services sector, continues to be the country’s main income generator. Christopher Hulse, Statistician 2 with the SIB gave more insight on what sectors performed well and which were struggling.

The SIB added that first quarter 2023 has shown the most economic growth for the past five years.

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