Posted: Tuesday, July 5, 2022. 6:35 pm CST.
By Benjamin Flowers: Sugar, Belize’s highest-earning export commodity, saw its revenues contract by 13.6 percent for the first five months of 2022; however overall exports were still up over 10 percent according to the Statistical Institute of Belize (SIB).
Revenues from sugar from January-May totaled $53.4 million, a reduction of $8.4 million when compared to the $61.8 million recorded for the same period last year.
Sugar industry stakeholders told the SIB that the diminished income was only due to the time the survey was conducted, as export deliveries were still not optimal. The industry is expected to see better performance during the next quarter and the rest of the year.
Meanwhile, overall export revenues totaled $192 million, representing an 11.7 percent ($20.1 million) increase when compared to last year.
With the exception of sugar and bananas (which saw a 6.7 percent [$2.1million] decline in revenues), all other exports recorded growth when compared to 2021.
Animal feed exports were up by 97 percent ($11.2 million); molasses was up by 119 percent ($5.5 million); marine exports were up 32 percent ($4.5 million); and citrus was up 16 percent ($2.9 million).
Crude oil revenues were up by 106 percent, moving from $100,000 to $1.5 million.
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