Browse a full set of economic indicators

Belize

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
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
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

Inflation & Debt

Inflation 2015 -0.9%
2016 0.7%
2017 1.1%
2018* 0.3%
2019* 1.2%

*Estimate
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)
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
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.)
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
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

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