June Trade Statistics: Imports Up, Exports Down, SIB Reveals

The SIB also released the latest trade statistics, which showed that imports expenses were up almost 20 percent for June, but export revenues were down almost forty percent. In June Belize imported over two hundred and forty-three million dollars’ worth of goods, an increase of eighteen percent or thirty-seven million when compared to June 2023. Increases were seen in all major import categories including most notably in ‘Mineral Fuels & Lubricants,’ ‘Food and Live Animals,’ and ‘Machinery and Transport Equipment. Notably, imports for the first six months of the year, January to June 2024, amounted to just over one-point-four billion dollars. Almost fifteen percent over what it was for the first half of 2023. Meanwhile, exports for the month of June 2024 totalled just under thirty five million dollars, down by thirty eight percent when compared to last year. The Sib says that the downturn in export revenue was due largely to decreased sales of sugar. The sugar industry saw a substantial decline in revenue from more than thirty-one million dollars last year to just over twenty-two million dollars this year.