Belize’s Trade Balance: Import Expenditure Up, Export Revenues Increase

Expenditure on imports is up but so are revenues from exports for the first five months of the year according to the Statistical Institute of Belize. The SIB’s latest External Trade Bulletin shows that Belize spent over one point two billion on imports for the period January to May 2024. This is a fourteen percent increase or a hundred and fifty-one million dollars more than last year. Meanwhile, export revenues totaled a hundred and sixty-five million, an eleven million dollar increase over 2023. Ronald Orellano, Statistician 2 with the SIB, explained which commodities were responsible for the increases.

The United Kingdom bought the bulk of Belize’s exports.