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Economy produced 11.5 percent more in first quarter despite agriculture’s slide

Posted: Wednesday, July 12, 2023. 11:31 am CST.

By Aaron Humes: The economy grew by 11.5 percent in the first quarter of 2023 (January to March) despite woes in the agriculture sector.

Belize posted its second consecutive quarter of first quarter positive growth after the issues during the COVID-19 pandemic.

The primary sector, covering agriculture and mining, was down because of significant decreases in two of Belize’s big three crops – banana and citrus. The former produced just 9.3 million metric tons and the latter 8.4 million metric tons because of disease and labour issues. Sugar rose as well as production of pigs and poultry.

Marine exports rose 43.6 percent, particularly shrimp as it continues its rebound from disease, but petroleum continues on its decline without any new fields beyond those in Spanish Lookout being tapped.

 

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