• Belize

    Belize

    Development Challenges 

    Belize is a small, essentially private enterprise economy that is principally based in tourism. Agriculture, the agro-processing industry, merchandising and an emerging oil industry are also important sectors of the economy. Sugar accounts for nearly half of exports, while the banana industry is the country’s largest employer. In recent years, the services sector has overtaken agriculture, fishing and forestry. The country faces development challenges, including:

    • One of the highest prevalence rates of HIV/AIDS in the Central American region
    • High deforestation
    • Economic instability
    • Unemployment
    • Expensive electricity
    • Violent crime
    • Trafficking of narcotics to neighbour countries specially US
    • Heavy foreign debt
    • Vulnerability to natural disasters
    • Weak construction sector

     Key Trade Issues 

    • High dependence on tourism from the United States that makes the country vulnerable to downturns in the world economy
    • Need to diversify the economy and  trading partners
    • Need of more and better infrastructure

    Government Priorities 

    • To promote tourism while maintaining proper habitats of mammals and birds
    • To improve tax collection
    • To increase regional and international cooperation
    • To consolidate a peaceful political environment with neighbouring Guatemala
    • To reduce poverty and inequality with the help of international donors
    • To enhance foreign direct investment into the tourism, telecommunications and agriculture sectors

     

    Trade and Tariff Graphs

    Graphs of the country’s export markets, its export performance in a key sector and tariffs exporters of a sample product face.
    Trademap sample Trademap sample: The map uses color codes to illustrate the relative size of different markets in the overall exports of the country shown in pink.
    Trademap sample Trademap sample: The vertical axis shows import values by key importing countries, while the horizontal axis shows export values by the country for the same sector. I.e. the country has gained market share in the case of an importing country at the bottom right of chart and lost market share for countries top left. The size of circles is proportional to market size.
    Market access map sample Market access map sample: The world map shows trade values and tariff levels for a key export product by importing countries. Color codes indicate protection levels. Red circles denote trade volumes.

    Trade and Investment Data

    Detailed data on the country’s export performance, key imports and foreign investment, grouped by product and service categories (HS and BOP).

    Trade Information Sources

    A listing of country specific print and online publications on trade related topics. Includes information from both ITC and external sources.

    Trade Contacts

    The most important trade contacts, including importers’ and exporters’ associations, trade support institutions, trade promotion organizations and institutions providing business development assistance.