Posted: Thursday, February 1, 2018. 10:17 a.m. CST.
By BBN Staff: Belize’s exports were down by 12.5 percent at the end of 2017, according to the latest External Trade Bulletin released by the Statistical Institute of Belize (SIB).
The data, released on January 31, showed that the total value of exports for December was $15.7 million, down $2.2 million from the $17.9 million recorded for December 2016.
Marine products had the largest decline, dropping by $2.5 million from $5.7 million to $3.2 million, due to falling shrimp sales, which fell significantly when compared to December 2016. Citrus product exports were next, falling sharply from $3.7 million in December 2016 to $2.1 million in December 2017, due to diminished orange concentrate sales.
There were no changes in petroleum earnings because there weren’t any sales of that commodity in 2017 or 2016.
In contrast, Bananas performed positively during the month, with earnings from that commodity growing by $1.1 million, from $5.1 million to $6.2 million.
“The largest increase in export revenues for the month came from Belize’s other exports, particularly animal feed, as earnings from that commodity surged from $0.1 million in the last month of 2016 to $2.1 million in the same month of 2017. As was the case in 2016, minimal sugar sales were recorded for the month of December 2017,” the SIB said.
Merchandise exports for the year 2017 totaled $445.6 million, up 10.9 percent or $43.7 million from total exports of 2016, which amounted to $401.9 million.
The data also said that during the month of December 2017, Belize’s imported goods were valued at $167.2 million, down by 0.9 percent or $1.6 million from the $168.8 million imported in December of 2016.
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