Belize’s export revenues were up by over 13 percent from January-October

Published by BBNTEAM at November 25, 2021

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Posted: Thursday, November 25, 2021. 7:06 pm CST.

By BBN Staff: The Statistical Institute of Belize (SIB) has reported that the country’s revenues earned from exports were up over 13 percent between the months of January- October 2021 when compared to the same period in 2020.

The SIB’s external trade bulletin showed that merchandise exports for the period January to October 2021 totaled $367.4 million, up 13.2 percent, an increase of $42.8 million from that same period last year. The SIB said that the performance was as noteworthy as several commodities showed increases in revenue.

Revenue from sugar, which lead the way in increased earnings, grew by 20 percent or $21 million, from $106.2 million in 2020 to $127.2 million in 2021, due to increased export quantities. Better market prices for and increased exported quantities of corn-based animal feed doubled the revenue from that commodity by $11.5 million from $11.8 million to $23.3 million.

“Earnings from marine exports were up by 27 percent or $8.8 million, from $32.3 million in 2020 to $41.1 million in 2021, due to higher prices for lobster products and improved sales of conch,” the SIB reported. “Earnings from molasses grew by almost $5 million over the period, from $10.7 million in 2020 to $15.7 million in 2021, while revenues from bananas rose from $72.1 million to $75.9 million. Sawn wood also saw a marked increase, with exports of this commodity rising by $1.2 million, from $2 million to $3.2 million.”

Despite the increases in several commodities, others saw notable declines in revenue.

Earning from citrus exports dropped by $10 million, from $43.9 million in 2020 to $33.9 million in 2021, due to reduced exports of orange and grapefruit concentrates. Crude oil sales also fell from $4.9 million in 2020 to $1 million in 2021, and exports of black-eyed peas declined from almost $6 million in the first ten months of last year to $4 million during the first ten months of this year.

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