Belize’s Total Imports Reach $231.5 Million, Up 13.5%

In September 2024, Belize’s trade data revealed a significant increase in both imports and domestic exports compared to the same month in the previous year. According to the Statistical Institute of Belize (SIB) report issued on October 30, total imports reached $231.5 million, reflecting a 13.5% increase from $204 million in September 2023. Key contributors to this rise included the Other Manufactures category, which grew by $8.1 million due to higher purchases of measuring instruments and galvanised steel. The Commercial Free Zones saw an increase of $7.8 million, driven by demand for handbags and sports uniforms. Additionally, machinery and transport equipment rose by 11.2%, or $5.8 million, reflecting more imports of electric buses and motor vehicles. However, imports of mineral fuels and lubricants fell by $8.3 million, while food and live animals decreased by $1.9 million.

For the first nine months of 2024, total merchandise imports amounted to $2.167 billion, an 8.6% increase from $1.995 billion during the same period last year. The Machinery and Transport Equipment category exhibited significant growth, increasing by $106.9 million due to high-value items such as electric buses. Meanwhile, the Mineral Fuels and Lubricants category rose by $24.2 million, attributed to higher imports of kerosene and gasoline. Imports in the Other Manufactures category also grew by $17.4 million, reflecting increased purchases of measuring instruments and steel panels.

On the export side, September 2024 saw total domestic exports reach $29.3 million, a 39% increase from $21.1 million in September 2023. This growth was largely driven by strong performances in agricultural commodities, with banana sales rising by $4.2 million and citrus product earnings nearly tripling to $4.3 million. Sugar exports also increased by $2 million, although revenues from animal feed declined by $0.9 million. For the first nine months of 2024, merchandise exports totalled $336.4 million, a slight 1.1% increase from $332.9 million last year.