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Exports: Belize is one of two top-performing Caribbean countries

Belize is one of two top-performing Caribbean countries with regards to exports for the first months of 2017. For the first quarter of 2017, exports from Belize increased by twenty-five percent after a twenty-four point nine percent decrease in 2016. According to data released by the Integration and Trade Sector (INT) of the Inter-American Development Bank (IDB), the value of Latin American and Caribbean exports recorded an estimated year-on-year increase of seventeen percent in the first quarter of 2017, following a yearly contraction of two point nine percent in 2016. The recovery was driven primarily by a rebound in the prices of goods exported by the region. The return to an export growth path marked the end of the longest trade recession in the region’s recent history, which lasted 24 months, from August of 2014 until July of 2016. The export recovery reflected an increase in the value of purchases by the region’s main trading partners; China, European Union, and the United States of America. Despite the expansion, the value of exports remains 1ten percent below its relative peak registered in 2014. Moreover, the recovery in export values contrasts with the timid growth of export volumes, which increased only one point eight percent in 2016, compared to three point six percent in 2015. In the first months of 2017, a slight acceleration of two point two was registered, but it was concentrated in a few economies and remains unstable.