Posted: Tuesday, April 6, 2021. 8:32 am CST.
By Benjamin Flowers: The latest data produced by the Statistical Institute of Belize (SIB) shows that Belize’s export earnings for the first two months of the year were higher than the same period last year.
The SIB’s data showed that merchandise exports for the period January to February 2021 totaled $47.4 million, which represents an increase of 32.7 percent or $11.7 million from the same period last year.
“Sugar and animal feed were the only commodities to have recorded noteworthy increases in earnings for the two-month period. Revenues from sugar rose sharply by $13.8 million, from $1.5 million in 2020 to $15.3 million in 2021, while sales of animal feed spiked by $3.9 million, from $1.1 million to more than $5 million,” the SIB said.
The data also showed that several commodities saw a reduction in earnings, such as marine exports which declined by $2.6 million within the two-month period from $8.5 million to $5.9 million, due mainly to decreased exports of lobster tails. Citrus exports declined during that time due to reduced sales of orange concentrate resulting in a $2.4 million drop in earnings, taking it from $6.5 million in 2020 to $4.1 million in 2021. Revenues from bananas also shrank by $1.4 million within the two-month period, from $12.2 million to $10.8 million.
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