The latest figures from the Statistical institute of Belize have been released and they show that Belize’s exports have sharply declined once again. Exports for December totalled only 18 million dollars, and which is
10.7 percent less than December, 2015.
So, overall, 2016 was a very down year where exports reduced by one quarter, which is 25.1 percent or $134.7 million less than the $536.6 million recorded for 2015. This significant drop in export earnings was as a result of decreased earnings across all major commodities.
For example, sugar fell by a 23.3 percent, despite virtually no change in exported volumes, due to lowered world market prices.
Imports in the month of December 2016 were also down – in this case by only 3.2 percent.
For the second month in a row, imports of ‘Machinery and Transport Equipment’ declined sharply, down more than $7 million from December 2015, due mainly to reduced purchases of tractors, telecommunication parts and four cylinder vehicles.
Notably, though, imports into the ‘Commercial Free Zones’, grew by over $4 million dollars in December, led by cigarettes and various types of bags.
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