Now moving on to our foreign economic outlook.
The figures for the month of February show that imports are down but exports are waaay down. Imports showed a 2.6% decrease while exports showed a
43.1% decrease. This is representative of $4.6 million dollars on the upside, and $22.4 million dollars on a very sharp downside.
The number of imports destined for "Export processing zones" fell sharply from $12 million dollars to $4.5 million dollars. A significant note is that
for the first time this year all major exporting sectors showed negative growth.
Tiffany Vasquez - Statistician 2, SIB
"Papaya and crude exports are basically halved in 2016 as you would notice. It falls from 2.6 million to 1.4 million; earning for crude from 6.3
million to 3.4 million. Marine on the other hand, while marine exports are almost one third what it was in 2015 but notably within this is the other
category which grew considerably in 2016; so much so that the other category actually held the largest share of exports in 2016. The major contributor
to this was animal feed which actually doubled in the period and of the 14.7 percent, 40 percent belonged to animal feed."
The US and the UN received the bulk of Belize's exports, accounting for 37% and 35% of Belize's export earnings for the month of February.
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