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Exports and imports up at the end of 2019, new data shows

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Posted: Wednesday, January 29, 2020. 5:45 pm CST.

By BBN Staff: The Statistical Institue of Belize’s (SIB)’s latest External Trade Bulletin (ETB), shows that Belize ended off 2019 with both export revenues and import expenditures recording increases.

The ETB, released today, showed that the total domestic exports for December 2019 amounted to $25.9 million, up 18.9 percent or $4.1 million from the $21.8 million recorded for December of 2018, while goods imported into Belize were valued at $162.5 million, up 6.4 percent or $9.7 million from the $152.8 million imported in December of 2018.

“Crude petroleum exports recorded the biggest gain among all major exports in December 2019, with earnings from this commodity totaling $7.4 million. Since there were no exports of crude petroleum in December of 2018, this commodity was the main contributor to the marked increase in overall export earnings for the month,” the SIB said.

The institute also noted that imports of ‘Manufactured Goods’ saw the most significant growth for the last month of 2019 with an increase of 40 percent, from $17.3 million in December 2018 to $24.2 million in December 2019, as the country imported more metal structures and galvanized steel coils. There was also a notable increase of imports for ‘Machinery and Transport Equipment’ which grew from $27.5 million to $32.1 million, as the country imported more water pumps, portable agricultural sprayers, and conveyor belts.

Merchandise exports for the year 2019 totaled $411.8 million, up 4.6 percent or $17.9 million, from the total exports of 2018, which amounted to $393.9 million, while imports for the year amounted to $1.97 billion, representing a 2.9 percent or $56.3 million increase from the total imports recorded for 2018.

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