What are Belize major industries?
Economy of Belize
| Statistics | |
|---|---|
| Main industries | Garment production, food processing, tourism, construction, oil |
| Ease-of-doing-business rank | 135th (medium, 2020) |
| External | |
| Exports | $633 million (2013 est.) |
What are Belize’s main exports?
Belize’s gross exports for 2018 amounted to $200 million, down 10.5% from $222.8 million in 2017. The main exports were sugar and molasses (30%), bananas (18.5%), citrus (15.7%), marine products (10.7%), and crude petroleum (6.3%).
What is Belize’s largest export?
Exports The top exports of Belize are Raw Sugar ($69.3M), Bananas ($40.1M), Fruit Juice ($28.3M), Non-fillet Frozen Fish ($23.5M), and Crude Petroleum ($20.3M), exporting mostly to United Kingdom ($84.5M), United States ($75.1M), Spain ($17.9M), Jamaica ($16.5M), and Ireland ($15.9M).
What are the main economic activities in Belize?
Finance, trade, and services The country’s main exports are seafood, sugar, citrus products, bananas, and clothing, and its chief imports include machinery and transport equipment, food, fuels and lubricants, and chemicals. Since the 1990s, Belize has had a substantial trade deficit in goods.
How is Belize’s economy?
The economy relies primarily on tourism and exports of marine products, citrus, sugar, and bananas. Against the backdrop of declining tourism receipts, the Central Bank of Belize has begun to offer its first U.S. dollar–denominated Treasury notes to raise capital for its foreign reserves.
What are some major imports in Belize?
The country’s main exports are seafood, sugar, citrus products, bananas, and clothing, and its chief imports include machinery and transport equipment, food, fuels and lubricants, and chemicals. Since the 1990s, Belize has had a substantial trade deficit in goods.
Which industry is the second industry of Belize?
# 2 Major Industries Agriculture is the # 1 industry in Belize, contributing 20% of GDP and employing about 25% of the labor force. The main crops are sugar cane, bananas, citrus and corn. Tourism is the # 2 industry, representing about 17% of GDP.
Why are industries important for Belize?
Agriculture in Belize is the most critical industry in the overall economy and employs well over one-third of the country’s labor force, and in 1999 the industry accounted for approximately 22% of the country’s GDP and approximately 60% of all export revenues.
What are the biggest problems in Belize?
High deforestation rates, improper solid-waste management, rapid coastal development, increasing poverty, weak institutional and legal frameworks, and the recent discovery of sweet crude oil all pose significant threats to Belize’s ecosystem.