Economy of Belize
Population: 0.38 M (2018)
GDP per Capita: 4,885 USD (2018)
1,870 M.

GDP USD

(2018)

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1,080 M.

EXPORTS USD

(2018)

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1,090 M.

IMPORTS USD

(2018)

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66.50 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 3.04 % (2018)
GDP of 2010 USD USD 1.60 B. (2018)
GDP Current USD USD 1.87 B. (2018)
GDP per Capita Current USD USD 4,885 (2018)
GDP per capita, PPP USD 7,674 (2018)
GDP per Capita, 2010 USD USD 4,249 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 17.49 % (2018)
Government Spending USD 0.33 B. (2018)
Government Debt % GDP 66.50 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 94.61 (2018)
Trade Openness 115.71 % (2018)
Exports of Goods and Services % GDP 57.70 % (2018)
Exports Goods & Services USD 1.08 B. (2018)
Exports Annual Growth 7.51 % (2018)
Imports as % GDP 58.01 % (2018)
Total Imports USD 1.09 B. (2018)
Foreign Direct Investment % GDP 6.39 % (2018)
Foreign Direct Investment USD 0.12 B. (2018)
Current Account Balance % GDP USD -8.28 % (2018)
Current Account Balance USD -0.15 B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD -0.05 B. (2018)
Foreign Exchange Reserves incl Gold USD 0.29 B. (2018)
Remittances % GDP 4.94 % (2018)
Remittances USD 90 M. (2018)
Balance of Payments USD 4 M. (2018)

Labor Market

Indicator Value
Labor Force 0.18 M. (2019)
Unemployment Rate 9.50 % (2019)
Unemployment Rate Females 9.65 % (2019)
Unemployment Rate Males 4.35 % (2019)
Youth Unemployment (ages 15-24) 19.88 % (2019)
Labor Force Participation Rate 67.38 % (2019)
Labor Force (Percent Female) 39.00 % (2019)
Female Labor Force Participation Rate 53.65 % (2019)
Male Labor Force Participation Rate 81.49 % (2019)
Dependent People 53.88 % (2018)

Agriculture Sector

Indicator Value
Forest Area 59.70 % (2016)
Forest Area km² 13,613 km² (2016)
Agricultural Land 7.01 % (2016)
Agricultural Land km² 1,600 km² (2016)
Employment 17.44 % (2019)
Value added % GDP 9.56 % (2018)
Agriculture Value added USD 0.18 B. (2018)
Crop Production Index 91.90 (2016)
Precipitation 1,705 mm (2014)
Arable Land 3 % (2016)
Cereal Yield 4,229 kg/hectare (2017)
Food production index 94 (2016)
Rural Population 54 % (2018)
Fertilizer use of Arable Land 466 kg/hectare (2016)
Livestock Production Index 118 (2016)
Economy of Belize

According to the World Bank and its latest published data, the economy of the Belize presents a growth rate of 3.04 % (2018) to the previous year.

With a population that reaches 0.38 M (2018) and a gross domestic product of USD 1.87 B. (2018), it translates a Gross Domestic Product per Capita of USD 4,885 placing its inhabitants on the threshold of an Upper middle income country (according to the World Bank's updated classification).

Belize also has a workforce of 0.18 M. (2019) with an unemployment rate of 9.50 % (2019), where women represent 9.65 % (2019) and men 4.35 % (2019), the unemployment rate for young people between 15-24 years old stood at 19.88 % (2019). The total number of dependent people stands at 53.88 % (2018).

The central government spent 17.49 % (2018) of its gross domestic product that year, which in absolute terms is USD 0.33 B. (2018). Its consolidated public debt reached 66.50 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Belize exported USD 1.08 B. (2018), which represents 57.70 % (2018) of its gross domestic product, in that same sense its imports reached USD 1.09 B. (2018) with a direct foreign investment of USD 0.12 B. (2018).

Belize has a forest area of 13,613 km² (2016), which represents 59.70 % (2016) of its total area, an average rainfall of 1,705 mm (2014) per year and a population of 54 % (2018) living in rural areas. With a total area of 1,600 km² (2016) available for agriculture and 17.44 % (2019) of its employments, the agricultural sector contributes to the economy of the Belize about USD 0.18 B. (2018) (9.56 % (2018) of its GDP).