[Caribbean Literature]

Economy of Belize

source: CIA World Fact Book 1997

Economy - overview: The small, essentially private enterprise economy is based primarily on agriculture, agro-based industry, and merchandising, with tourism and construction assuming increasing importance. Agriculture accounts for about 20% of GDP and provides 75% of export earnings, while sugar, the chief crop, accounts for almost 40% of hard currency earnings. The US, Belize's main trading partner, is assisting in efforts to reduce dependency on sugar with an agricultural diversification program.

GDP: purchasing power parity - $649 million (1996 est.)

GDP - real growth rate: 3% (1996 est.)

GDP - per capita: purchasing power parity - $2,960 (1996 est.)

GDP - composition by sector:

Inflation rate - consumer price index: 6.4% (1996 est.)

Labor force:

Unemployment rate: 15% (1996 est.)


Industries: garment production, food processing, tourism, construction

Industrial production growth rate: 3.7% (1990)

Electricity - capacity: 34,000 kW (1995)

Electricity - production: NA kWh

Electricity - consumption per capita: NA kWh

Agriculture - products: bananas, coca, citrus, sugarcane; lumber; fish, cultured shrimp

Exports: Imports:

Debt - external: $192 million (1996 est.)

Economic aid:

Currency: 1 Belizean dollar (Bz$) = 100 cents

Exchange rates: Belizean dollars (Bz$) per US$1 - 2.00 (fixed rate)

Fiscal year: 1 April - 31 March

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