Exports up over 40 percent in July, imports up over 15 percent

By BBN Staff: After having a rough start this year, Belize’s exports for the month of July 2019 were up by some 44.1 percent when compared to July 2018, while imports were up 15.6 percent, according to the Statistical Institute of Belize (SIB).

The SIB’s latest External Trade Bulleting said that the total domestic exports for July 2019 amounted to almost $46 million, up 44.1 percent or $14.1 million when compared to exports for July 2018, which were valued at $31.9 million. Meanwhile,  Belize imported goods valuing
$191.4 million  the month of July 2019, which represented a 15.6 percent or $25.8 million increase from the same month in 2018, when imports totaled $165.6 million

The SIB said that sugar exports were the single greatest cause for the rise in exports, due to variations in the scheduling of bulk sugar shipments during the course of the year. Bulk sugar sales for July 2019 far exceeded that of July 2018,  and so were revenues sugar revenues which went up from $12.1 million to $22.4 million (a difference of $10.3 million). Export revenues were also boosted exports of lobster tails, earnings from marine products went up slightly from $3.6 million in July of 2018 to $4.3 million in July 2019.

The SIB also noted that revenues from red kidney beans doubled, from $0.9 million to $1.8 million.

Some exports did see declines. Exports of citrus products fell slightly from $5.2 million in July 2018 to $4.9 million in July 2019, owing mostly to diminished sales of orange concentrate, while earnings from bananas declined by a marginal $0.3 million, from a little over $7 million to $6.7 million.

Imports were up due mainly to substantial growth in the quantity of diesel fuel.

“The ‘Mineral Fuels and Lubricants’ category rose significantly by more than 70 percent or $14.1 million, up from $19.7 million in July 2018 to $33.8 million in July 2019, as imported quantities of diesel fuel were four times greater than they were in July of last year,” the SIB said.

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