Belize economy grew nearly 10 percent in 2021

By Aaron Humes: It was a strong end of the year for Belize economically, according to the Statistical Institute of Belize (SIB).

Overall, the economy grew 9.8 percent compared to the pandemic year of 2020, and in the fourth quarter 14.8 percent.

Belize in the estimation of the SIB is “approaching” pre-pandemic levels of production – not quite at that level which was itself down compared to previous years.

The primary sector rose nearly 3 percent, fueled by rises in banana production, a rebound in citrus due to a late crop season and early harvests (due to the effects of citrus greening), and cattle and pig production rising by 23 and 15 percent). While most of the cattle are exported, local consumption is driving the demand for pigs.

A late start to the sugar cane season saw it not being able to contribute to GDP for the second time in three years.

For fisheries, there was 5 percent more production in the fourth quarter, with all exported products especially conch seeing increases except for shrimp.

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