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June 30, 2021

Gross Domestic Product: Belize’s fall continues

Posted: Wednesday, June 30, 2021. 11:08 am CST.

By Aaron Humes: The gross domestic product is down 8.4 percent from the first quarter of 2020, as the impact of the COVID-19 pandemic continues.

From January to March, the primary sector contracted 2 percent, with contributions from agriculture and fishing both falling.

The most significant reductions are in the banana and citrus industries, affected by weather and pest issues.

Sugar remains king, rebounding from the drought to produce more than 750 thousand tons of cane.

Livestock production came into its own, with cattle exports and pig farming rising, countering a drop in poultry production due to reduced markets. There were reduced exports of shrimp and lobster meat but increases in conch and lobster tail production made up for it.

 

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