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Belize City, Belize Central America
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SIB Release Latest Stats on Belize’s External Trade

The Statistical Institute of Belize has issued its February report on Belize’s external trade situation. In February 2021, the country’s imports were valued at one hundred thirty-nine point eight million dollars. This figure is a seven-point-one percent drop, equal to ten-point-seven million dollars, compared to February 2020. The downturn is reflected in decreases in machinery and transport equipment, the commercial-free zones, fuels and lubricants, and designated processing areas. There were minimal upticks in beverages and tobacco, chemical products, food and live animals.  In terms of consumer prices, the S.I.B. reports inflation stood at one-point-three percent in February 2021. The institute explains that in February 2020 the consumer price index was at one hundred point seven and it has increased to one hundred two in February 2021. In layman’s terms, it shows that on average, prices for items we buy often were one point three percent higher than they were last February. For example, whole chicken sold at two dollars seventy-three cents per pound last year compared to two dollars seventy-nine cents per pound this year. Eggs were sold at three dollars thirty-eight cents per dozen in 2020 to three dollars fifty-four cents per dozen this year. The inflation rate measures the percent change in prices between a particular month in the current year and the corresponding month in the year before.