Economy
Belize
Budget
revenues
$554.405 million (2017 est.)
expenditures
$506.316 million (2017 est.)
Exports
Exports 2022
$1.369 billion (2022 est.)
Exports 2023
$1.536 billion (2023 est.)
Exports 2024
$1.64 billion (2024 est.)
Imports
Imports 2022
$1.574 billion (2022 est.)
Imports 2023
$1.573 billion (2023 est.)
Imports 2024
$1.724 billion (2024 est.)
Industries
textiles, food processing, tourism, construction, petroleum
Labor force
190,000 (2024 est.)
Public debt
Public debt 2017
99% of GDP (2017 est.)
Remittances
Remittances 2022
5% of GDP (2022 est.)
Remittances 2023
4.9% of GDP (2023 est.)
Remittances 2024
4.4% of GDP (2024 est.)
Exchange rates
Currency
Belizean dollars (BZD) per US dollar -
Exchange rates 2020
2 (2020 est.)
Exchange rates 2021
2 (2021 est.)
Exchange rates 2022
2 (2022 est.)
Exchange rates 2023
2 (2023 est.)
Exchange rates 2024
2 (2024 est.)
Debt - external
Debt - external 2023
$1.235 billion (2023 est.)
Economic overview
economy driven by tourism and agriculture; notable recovery following the pandemic; innovative and environmentally friendly bond restructuring that significantly reduced public debt and enhanced marine conservation; central bank issuing treasury notes in USD; high levels of cross-border movement
Unemployment rate
Unemployment rate 2022
8.8% (2022 est.)
Unemployment rate 2023
8.3% (2023 est.)
Unemployment rate 2024
7% (2024 est.)
Exports - partners
USA 22%, UK 14%, Spain 9%, Guatemala 7%, Portugal 5% (2023)
Imports - partners
USA 37%, China 17%, Guatemala 10%, Mexico 8%, Costa Rica 6% (2023)
Real GDP per capita
Real GDP per capita 2022
$12,600 (2022 est.)
Real GDP per capita 2023
$12,500 (2023 est.)
Real GDP per capita 2024
$13,300 (2024 est.)
Real GDP growth rate
Real GDP growth rate 2022
9.7% (2022 est.)
Real GDP growth rate 2023
1.1% (2023 est.)
Real GDP growth rate 2024
8.2% (2024 est.)
Agricultural products
sugarcane, maize, bananas, sorghum, soybeans, chicken, rice, oranges, fruits, plantains (2023)
Exports - commodities
raw sugar, bananas, fish, shellfish, refined petroleum (2023)
Imports - commodities
refined petroleum, orthopedic devices, ships, textiles, tobacco (2023)
Current account balance
Current account balance 2022
-$235.566 million (2022 est.)
Current account balance 2023
-$19.761 million (2023 est.)
Current account balance 2024
-$51.762 million (2024 est.)
Taxes and other revenues
21.3% (of GDP) (2017 est.)
GDP (official exchange rate)
$3.516 billion (2024 est.)
GDP - composition, by end use
household consumption
62.9% (2023 est.)
government consumption
15.7% (2023 est.)
investment in inventories
-2.3% (2023 est.)
investment in fixed capital
20.6% (2023 est.)
exports of goods and services
55.3% (2023 est.)
imports of goods and services
-51.2% (2023 est.)
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2022
6.3% (2022 est.)
Inflation rate (consumer prices) 2023
4.4% (2023 est.)
Inflation rate (consumer prices) 2024
3.3% (2024 est.)
Industrial production growth rate
4.8% (2024 est.)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022
$5.062 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$5.12 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$5.538 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
10.6% (2024 est.)
total
16.3% (2024 est.)
female
25.6% (2024 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022
$482.146 million (2022 est.)
Reserves of foreign exchange and gold 2023
$473.729 million (2023 est.)
Reserves of foreign exchange and gold 2024
$498.087 million (2024 est.)
GDP - composition, by sector of origin
industry
14.3% (2023 est.)
services
62.4% (2023 est.)
agriculture
8.1% (2023 est.)
Household income or consumption by percentage share
lowest 10%
2.2% (2018 est.)
highest 10%
30% (2018 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2018
39.9 (2018 est.)