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Overview In 2021 Belize was the number 170 economy in the world in terms of total exports and the number 173 in total imports.

Exports The top exports of Belize are Raw Sugar ($91.9M), Bananas ($47.7M), Fishing Ships ($32M), Crustaceans ($20M), and Beer ($18.9M), exporting mostly to United States ($67.4M), United Kingdom ($66.9M), Oman ($28.7M), Guatemala ($28.3M), and Italy ($25.9M).

Imports The top imports of Belize are Recreational Boats ($210M), Refined Petroleum ($160M), Rolled Tobacco ($65.3M), Passenger and Cargo Ships ($22.9M), and Petroleum Gas ($22M), importing mostly from United States ($403M), China ($198M), Seychelles ($177M), Guatemala ($132M), and Mexico ($128M).

Location Belize borders Guatemala and Mexico by land and Honduras by sea.

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Belize.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Subscribe today to OEC pro and access the latest data

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2021)Raw Sugar$91.9M
Top Destination (2021)United States$67.4M

In 2021, Belize exported a total of $411M, making it the number 170 exporter in the world. During the last five reported years the exports of Belize have changed by -$76.4M from $488M in 2016 to $411M in 2021.

The most recent exports are led by Raw Sugar ($91.9M), Bananas ($47.7M), Fishing Ships ($32M), Crustaceans ($20M), and Beer ($18.9M). The most common destination for the exports of Belize are United States ($67.4M), United Kingdom ($66.9M), Oman ($28.7M), Guatemala ($28.3M), and Italy ($25.9M).

Explore Visualizations

Exports (2021)
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Destinations (2021)
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Market Growth

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Fastest Growing Export Markets (2020 - 2021)
Italy$24.8M (+ 2.2k%)
Guatemala$15.7M (+ 126%)
Mexico$9.38M (+ 74%)
Fastest Growing Import Markets (2020 - 2021)
China$71.1M (+ 56.1%)
United States$45M (+ 12.6%)
Guatemala$44.9M (+ 51.6%)

Total Export Growth by Market (2020 - 2021)

Service Trade

Service Trade

Belize Exports Services (2020)$426M
Belize Imports Services (2020)$162M

In 2020, Belize exported $426M worth of services. The top services exported by Belize in 2020 were Personal travel ($237M), Miscellaneous business, professional, and technical services ($51.2M), Government services, n.i.e. ($46.3M), Computer and information services ($42.7M), and Sea transport ($18.6M).

The top services imported by Belize in 2020 were Sea transport ($62.7M), Miscellaneous business, professional, and technical services ($30.2M), Personal travel ($20.2M), Reinsurance ($19.2M), and Government services, n.i.e. ($15.3M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Most Specialized Products by RCA Index

Belize has a high level of specialization in Fishing Ships (826), Molasses (622), Bran (236), Bananas (179), and Raw Sugar (167). Specialization is measured using RCA, an index that takes the ratio between Belize observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Belize according to the relatedness index, were Gold (0.11), Tropical Fruits (0.095), Other Oily Seeds (0.094), Cassava (0.093), and Fish Fillets (0.093). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Belize is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Belize. These are products that tend to be co-exported with the products that Belize exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

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