Exports see 19 percent increase over 2020; imports over $2 billion

Published by BBNTEAM at January 26, 2022

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Posted: Wednesday, January 26, 2022. 5:53 pm CST.

By Aaron Humes: Belize’s exports saw a rebound in 2021, selling some $438 million in goods for a rise of nearly $71 million or 19.2 percent according to the Statistical Institute of Belize (SIB).

Inversely, Belize imported $2.1 billion in goods, recovering by nearly 35 percent from the pandemic-induced low of $1.6 billion in 2020.

Leading the way in exports was sugar, rising 24 percent to $138.1 million; animal feed doubling to $31 million due to improved prices and greater demand; marine products to $53 million boosted by better prices for lobster and conch, and more modest increases for molasses and bananas. Even crude petroleum saw a bit of a comeback with more than $8.5 million in revenue collected.

Citrus, the third of Belize’s big three major industries, was the only one to see a decline, falling by $12.7 million in revenue to $37 million, affected by smaller quantities of orange concentrate being exported.

Belize imported $117 million more manufactured goods such as steel corrugated rods, galvalume steel coils and metal pipes; nearly $108 million more in fuels and lubricants such as propane and kerosene; $94 million in machinery and transport equipment and a rebounding Commercial Free Zone in Corozal which imported $84 million more in goods for resale.

For December Belize imported $229 million in goods, nearly $84 million more than 2020, while exporting $37.1 million more than in December 2020.

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