Wednesday, November 18th, 2015. BMG: A release of the trade figures for the third quarter of this year, by the Statistical Institute of Belize (SIB), indicates that there has been massive improvement in our country’s import to export ratio, with a drop in imports and a huge rise in exported products.
Comparing the amount of money spent on imported products and revenue gained from exported products in September of last year, to the same time this year, an estimated drop of one percent in imports was recorded and a whopping 23 percent, or $6,800,000, rise in exports.
It is said that the reason for the big improvement in exports was that sugar was exported this year as opposed to last year when no sugar was exported in September, but there was also an increase in exportation of bananas and citrus.
The drop in imports has been attributed to the decrease of clothing, fuel, cigarettes and lubricants into the Commercial Free Zone.
During the course of the first nine months of 2015 compared to that of 2014, exports went down by $62,200,000.
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