Belize’s Imports Reached $3 Billion in 2024

In December 2024, the Statistical Institute of Belize (SIB) reported that Belize experienced a slight increase in imports, with total goods imported valued at $230.7 million, a marginal rise of 0.1% compared to the previous year. A notable uptick was seen in imports of manufactured goods and chemical products, largely driven by higher purchases of items such as glass bottles, building cement, and fertilisers. However, imports for commercial free zones saw a significant decline, dropping by 21.7% due to reduced purchases of footwear and handbags.

The most striking figure in December’s external trade report was the surge in domestic exports, which skyrocketed by 204.3%, reaching $74.1 million. This increase was fuelled primarily by a bulk shipment of sugar, which saw revenues increase from $4.5 million to $52.4 million. Citrus products also contributed, with earnings from orange concentrate more than quintupled. However, banana exports and marine products, such as lobster and conch, saw declines.

For the entire year of 2024, Belize’s merchandise imports totalled $2.909 billion, an 8.5% rise from 2023. Imports of machinery and transport equipment saw the largest increase. It was driven by high-value items like industrial generators and motor vehicles. On the export front, total earnings reached $459.9 million, a 12.5% increase from the previous year. The primary driver of export growth was sugar. Banana and citrus products were also key drivers.