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.
Basic Information
Government Type: Parliamentary democracy (National Assembly) under a constitutional monarchy; a Commonwealth realmc
Capital City: Belmopan
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | Central Bank of Belize |
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Currency | Belizean dollars (BZD) |
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) |
GDP Data
Real GDP growth |
2007 1.1% 2008 3.2% 2009 0.7% 2010 3.4% 2011 2.2% 2012 2.9% 2013 0.9% 2014 3.7% 2015 3.4% 2016 -0.6% 2017* 1.4% 2018* 3% *Estimate |
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GDP per capita – current prices | USD 4,862.1 (2018, estimate) |
GDP per capita – PPP | Intl$ 8,500.9 (2018, estimate) |
GDP (PPP) – share of world total |
1980 0.0% 1990 0.0% 2000 0.0% 2010 0.0% 2019* 0.002% *Estimate |
GDP – composition by sector |
agriculture: 10.8% industry: 13.4% services: 62.9% (2017 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2015 -0.9% 2016 0.7% 2017 1.1% 2018* 0.3% 2019* 1.2% *Estimate |
Belize
Inflation & Debt
Inflation |
2015 -0.9% 2016 0.7% 2017 1.1% 2018* 0.3% 2019* 1.2% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: B- Moody’s: B3 Standard & Poor’s / Moody’s |
Unemployment rate |
2015 10.1% 2016 8% 2017 9% 2018* 8.7% 2019* 9.9% *Estimate |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2015 79.3% 2016 93.2% 2017 94.5% 2018* 95.2% 2019 93% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2015 -6.3% 2016 -5.9% 2017 -5.6% 2018 -1% 2019* -1.1% *Estimate |
Market value of publicly traded shares |
2016 N/A 2017 N/A 2018 N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
5.9% (2017) |
---|---|
Shares in world total merchandising export |
0.004% (2018) |
Shares in world total commercial services export |
0.008% (2018) |
Total exports |
USD 1.6 billion (2018 estimate) |
Export commodities |
Opium, fruits and nuts, handwoven carpets, wool, cotton, hides and pelts, precious and semi-precious gems, and medical herbs |
Total imports |
USD 8.3 billion (2018 estimate) |
Import commodities |
Machinery and other capital goods, food, textiles, petroleum products |
Exports – major partners |
India 56.5%, Pakistan 29.6% (2017) |
Imports – major partners |
China 21%, Iran 20.5%, Pakistan 11.8%, Kazakhstan 11%, Uzbekistan 6.8%, Malaysia 5.3%(2017) |
Competitiveness & Trade
Current account balance | USD -0.2 billion (2018 estimate) |
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Current account balance by percentage of GDP | -8.1 % (2018 estimate) |
FDI inflows |
2016 USD 44 million 2017 USD 24 million 2018 USD 120 million |
FDI Outflows |
2016 USD 1.7 million 2017 USD 0.3 million 2019 USD 0.7 million |
Value of cross-border M&A, by country of purchaser |
2015 USD 10 million 2016 USD 17 million 2017 USD 3 million 2018 N/A |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
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: 135 out of 190 countries Subcategories: Starting a Business: 166 out of 190 countries Dealing with Construction Permits: 123 out of 190 countries Getting Electricity: 91 out of 190 countries Registering Property: 137 out of 190 countries Getting Credit: 173 out of 190 countries Protecting Minority Investors: 157 out of 190 countries Paying Taxes: 60 out of 190 countries Trading across Borders: 114 out of 190 countries Enforcing Contracts: 135 out of 190 countries Resolving Insolvency: 91 out of 190 countries |
Global competitiveness ranking | N/A |
Index of Economic Freedom |
Ranking: 123 / Score: 55.4 (Mostly unfree) (2019) (100=totally free 0=totally repressed) |
Population & Geographic Data
Total Area | 22,966 sq km |
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Total Population |
1990 0.19 Million 2000 0.25 Million 2010 0.32 Million 2015* 0.37 Million 2020* 0.42 Million *Estimate |
Urban population as % of total population |
1960 54% 1980 49.4% 2000 45.4% 2020 45.7% |
Population median age | 23.7 years |
Population growth rate | 1.8% (2018 estimate) |
Life expectancy | 74.7 years (2018 estimate) |
% of population living on less than $3.10 a day | N/A |
Inequality of wealth distribution (Gini index) | N/A |
Freedom House rating |
Free Political Rights: 1 Civil Liberties: 2 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 5.4% Mobile: 85.5% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 47.08 % (2017) |
Language & Religon
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% (cannot speak) (2010 est.) |
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Literacy | N/A |
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, Mormon, Musl |
World Rankings
Population | 0.42 million |
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Mercer Cost of living index | N/A |
C02 Emissions per capita | 1.4 metric tons per capita (2014) |
Global Finance Rankings & Awards: Belize
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000