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Imports down by 7.7 %, Exports down by 11.4%

As it relates to Belize’s imports, for the month of November, imports was valued at one hundred and fifty-four point five million dollars, down by seven point seven percent or twelve point eight million dollars from imports for November 2016. The ‘Machinery and Transport Equipment’ category saw the largest decrease for the month, falling by six point one million dollars to thirty-three point eight million dollars; this was due to a reduction in the purchasing of computer components. The only significant increase for the month was seen in imports of goods destined for the ‘Commercial Free Zones’. This category rose by four point five million dollars, from twenty-five point seven million dollars to thirty point two million dollars, as the country imported more tennis shoes, sweaters and handbags in November of 2017 compared to November last year.  Merchandise imports for the eleven months January to November 2017 totaled one point seven billion dollars, representing a four point five percent or seventy-seven point four million dollars decrease from the same period last year. Imports fell significantly across four categories, namely, ‘Machinery and Transport Equipment’, ‘Other Manufactures’, ‘Food and Live Animals’ and ‘Export Processing Zones, which together dropped by almost one hundred and twenty million dollars for the eleven-month period. Mineral and Fuels recorded an increase of twenty-five point four million dollars from one hundred and sixty-nine point one million dollars in 2016 to one hundred and ninety-four point five million dollars in 2017. The total value of Belize’s domestic exports for the month of November 2017, stood at sixteen point nine million dollars when compared to the same period for last year which stood at nineteen point one million dollars, a decrease of eleven point four percent or two point two million dollars. According to the SIB, the decrease in export revenue was due to the reduction of the sale of black-eyed peas for the month. The total domestic exports for the period January to November 2017 stood at four hundred and twenty-nine point nine million dollars, an increase of twelve percent or forty-five point nine million dollars.  Sugar is the country’s most significant export earner which increased by forty-five point two million dollars from one hundred and two point six million dollars in 2016 to one hundred and forty-seven point eight million dollars in 2017. The majority of Belize’s exports went to the European Union which stood at six point seven million dollars, the second largest exports went to the United States of America with four point five million dollars and in third place was CARICOM with three point seven million dollars.