. '
. '
. '
. '
. '
Economy In Belize- FAQs
Belize is a small country and over the past twenty years, it has changed a lot economically, mainly because of the rise in tourism and the discovery of oil in 2005.
REVEALED IN FREE VIRTUAL SUMMIT
- Countries
Top Destinations:
Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.Best For:
- Resources
Take Quiz - Store
Unlock The World
Overseas Havens Reports
Conference Kits
Lahardan Books
Your passport to a life well-lived abroadSubscriptions
Our Customer Service team is here to assist with any questions or concerns CustomerService@LiveandInvestOverseas.com
- Countries
Top Destinations:
Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.Best For:
- Resources
Take Quiz - Store
Unlock The World
Overseas Havens Reports
Conference Kits
Lahardan Books
Your passport to a life well-lived abroadSubscriptions
Our Customer Service team is here to assist with any questions or concerns CustomerService@LiveandInvestOverseas.com
DISCOVER BELIZE
REEF RUINS, RIVERS, AND RAIN FOREST, PLUS EASY RESIDENCY AND TAX-FREE LIVING
Simply sign up to receive the FREE daily e-letter, Overseas Opportunity Letter plus our In Focus: Belize newsletter and we’ll immediately email you our editors’ latest research report… absolutely FREE
We Value Your Privacy! We will not share your email address with anyone else, period.
Economy In Belize
The Belize Economy
Learn more about this and other countries in our free, daily e-letter Overseas Opportunity Letter, plus our In Focus: Caribbean newsletter Simply enter your email address below and we’ll send you our FREE REPORT: Discover Belize: Reef, Ruins, Rivers, And Rain Forest... Plus Easy Residency And Tax-Free Living
The Belize Economy
Through history, the economy of Belize has relied heavily on its primary industry of logging. In the 20th century, agriculture in Belize grew under the production of citrus, bananas, and sugar.
However, tourism has since become one of the primary economic industries in Belize.
Agriculture remains a key industry and now includes aquaculture (exporting both wild-caught and farmed seafood). From the early 2000s up until the crash, Belize GDP growth averaged around 4%.
In 2008, petroleum production helped to offset the decline in the tourism sector due to the global recession. For 20 years (1995-2015), the Belize annual growth rate averaged just over 4%.
Most importantly, the economy in Belize is minuscule by international standards, but you have to keep in mind that it is a small, still-developing country with a trivial domestic market and limited ability for internal taxation.
The current gross domestic product is only around US$1.70 billion, representing less than 0.01% of the world economy.
Current economic standings have forced Belize to borrow from international lenders, including the World Bank.
Reviewed By Lief Simon
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
Start Your New Overseas Life Today
A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2024
We Value Your Privacy! We will not share your email address with anyone else, period.
Belize Economy – Statistics
| Real annual growth rate (2024) | 3.38% |
| Per capita income (2023) | US$6,385.37 |
| Inflation rate (2024) | 4% |
| Natural resources | Arable land, timber, seafood, minerals. |
| Primary sectors (64% of GDP) | Hotels and restaurants, financial intermediation, trade, and transport and communication |
| Secondary sectors (23% of GDP) | Manufacturing, electricity and water supply, and construction. |
| Tertiary sectors (13% of GDP) | Agriculture, forestry, fishing, and mining |
| Exports (2022): US$399 million | cane sugar, citrus concentrate, marine products, bananas, clothing, molasses, wood, and crude oil |
| Major trade markets | US$957.7: food and beverages, consumer goods, machinery and transportation equipment, chemicals, pharmaceuticals, tobacco, mineral fuels, and lubricants. |
| Major suppliers | U.S., Germany, Central America, Mexico, and China. |
| Labor force (2024) | 200,700 |
| Official exchange rate | Fixed rate of Belize $2.01=US$1 |
Get Your Free Belize Report Today!
Simply enter your email address below and we'll send you our FREE REPORT – Discover Belize: Reef, Ruins, Rivers, And Rain Forest… Plus Easy Residency And Tax-Free Living
Reviewed By Lief Simon
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
Start Your New Overseas Life Today
A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2024
We Value Your Privacy! We will not share your email address with anyone else, period.
More Resources From Belize
Places
Economy
Living
Other Resources
Places
Economy
Living
Other Resources
Latest On Economy In Belize
' . . '
' . . '
' . . '
' . . '
' . . '
We Value Your Privacy! We will not share your email address with anyone else, period.
As seen in
© 2008 – Live and Invest Overseas™ – All Rights Reserved.
