Economic Freedom by Country 2015
According to free-market economists, economic freedom is the key to prosperity and growth.
Belize GDP and Economic Data
Country Report 2017 - Includes Belize real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Belize economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Belize best banks and safest banks are also available.
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International Reserves
USD 0.29 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 1.9 billion (2018, estimate)
GDP (Purchasing Power Parity)
Intl$ 3.4 billion (2018, estimate)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 1.1% | 3.2% | 0.7% | 3.4% | 2.2% | 2.9% | 0.9% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| 3.7% | 3.4% | -0.6% | 1.4% | 3% |
*Estimate
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.0% | 0.0% | 0.0% | 0.0% | 0.002% |
*Estimate
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GDP - composition by sector
- agriculture: 10.8%
- industry: 13.4%
- services: 62.9%
(2017 estimate)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -0.9% | 0.7% | 1.1% | 0.3% | 1.2% |
*Estimate
Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 10.1% | 8% | 9% | 8.7% | 9.9% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019 |
| 79.3% | 93.2% | 94.5% | 95.2% | 93% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018 | 2019* |
| -6.3% | -5.9% | -5.6% | -1% | -1.1% |
*Estimate
Government bond ratings
Standard & Poor's: B-
Moody's: B3
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
-9.9% (2017 estimate)
Exports as percent of GDP (Exports of goods and services)
63.4% (2015)
Shares in world total merchandising export
0.003% (2015)
Shares in world total commercial services export
0.01% (2015)
Export commodities
Sugar, bananas, citrus, clothing, fish products, molasses, wood, crude oil
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Import commodities
Machinery and transport equipment, manufactured goods; fuels, chemicals, pharmaceuticals; food, beverages, tobacco
Exports - major partners
UK 30.8%, US 18.7%, Nigeria 6.7%, Trinidad and Tobago 4.8%, Ireland 4.2%, Jamaica 4.2% (2015)
Imports - major partners
US 26.6%, Mexico 11.7%, Cuba 10.2%, Guatemala 9%, China 7.5%, Trinidad and Tobago 5.6% (2015)
FDI inflows
| 2013 | 2014 | 2015 |
| USD 95 million | USD 153 million | USD 65 million |
FDI outflows
| 2013 | 2014 | 2015 |
| USD 0.7 million | USD 2.2 million | USD 0.5 million |
Value of cross-border M&A, by country of purchaser
| 2012 | 2013 | 2014 | 2015 |
| N/A | N/A | N/A | N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
(for a monthly update on M&A; click here )
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 112 out of 190 countries (2016)
Subcategories:
Starting a business: 158 out of 190 countries
Enforcing Contracts: 134 out of 190 countries
Registering Property: 126 out of 190 countries
Getting credit: 167 out of 190 countries
Protecting investors: 118 out of 190 countries
Trading across border: 101 out of 190 countries
Paying Taxes: 44 out of 190 countries
Dealing with Construction Permits: 100 out of 190 countries
Getting Electricity: 79 out of 190 countries
Resolving Insolvency: 81 out of 190 countries
Source
Index of Economic Freedom
Ranking: 118 / Score: 57.35 (Mostly unfree) (2017)
(100=totally free 0=totally repressed)
Source
Source
Government type
Parliamentary democracy (National Assembly) under a constitutional monarchy; a Commonwealth realm
Languages
English 62.9% (official), Spanish 56.6%, Creole 44.6%, Maya 10.5%, German 3.2%, Garifuna 2.9%, other 1.8%, unknown 0.3%, none 0.2%
Religions
Roman Catholic 40.1%, Protestant 31.5% (includes Pentecostal 8.4%, Seventh Day Adventist 5.4%, Anglican 4.7%, Mennonite 3.7%, Baptist 3.6%, Methodist 2.9%, Nazarene 2.8%), Jehovah's Witness 1.7%, other 10.5% (includes Baha'i, Buddhist, Hindu, Morman, Muslim, Rastafarian), unknown 0.6%, none 15.5% (2010 est.)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 0.189 million | 0.25 million | 0.324 million | 0.377 million | 0.437 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 54% | 49% | 48% | 44% |
Freedom House rating
Political Rights: 1
Civil Liberties: 2 (2017)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed 6.79% Mobile 60.97% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)