Belize exports contracts for first quarter

The SIB notes that external trade contracted for this quarter when compared to this same quarter last year.

For example, last year Belize sold $25 million dollars more in goods than it did this year.

Additionally, Belize saw a decrease in earnings in major exports.

In the case of sugar, there was a 17% loss of revenue even though there was a 4% increase in sugar exports.

The banana industry also took a hit by 29%.

Marine products also recorded a loss of 1/3 caused mainly by lowered shrimp exportation.

The citrus industry was not spared.

In fact, it recorded a million dollar loss. 

While exports were not as fruitful for this quarter, BBN notes that Belize imported $2 million less than it normally does for this quarter.

Locally, there was a reduction in inflation rates according to the SIB.

The inflation rate was down 0.6% when compared to this same period last year.

The SIB reported that less was spent in international flights but noted that more was spent on fuel.

An increase of 8% was seen in Premium gasoline.

An increase of 6% was seen in Regular gasoline.

Diesel recorded a 10% increase.

Also, butane costs saw an increase when compared to this same quarter last year.

Figures by SIB indicates that on average, the cost of basic food items has seen a decrease.

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