Overview: This page contains the latest international trade data for Belize, including service trade data, and tariffs. In 2018 Belize was the number 173 economy in the world in terms of GDP (current US$), the number 166 in total exports, and the number 171 in total imports. In 2018, Belize exported $354M and imported $1.05B, resulting in a negative trade balance of -$695M. In 2018, Belize's exports per capita were $924 and its imports per capita were $2.74k.
In 2018 Belize exported a total of $354M, making it the number 166 exporter in the world. During the last five reported years the exports of Belize have changed by -$219M from $573M in 2013 to $354M in 2018.
In 2018 Belize imported $1.05B, making it the number 171 trade destination in the world. During the last five reported years the imports of Belize changed by -$186M from $1.23B in 2013 to $1.05B in 2018.
In 2018, Belize exported $626M worth of services. The top services exported by Belize in 2018 were Personal travel ($469M), Miscellaneous business, professional, and technical services ($50.6M), Government services, n.i.e. ($40.2M), Business travel ($17.2M), and Sea transport ($16.2M).
The top services imported by Belize in 2018 were Sea transport ($64.9M), Personal travel ($46.4M), Miscellaneous business, professional, and technical services ($35M), Reinsurance ($19.8M), and Government services, n.i.e. ($18.6M).
This section shows forecasts for total product exports and imports for Belize. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Belize are:76: Agreement between CARICOM Caribbean Community (CARICOM) Less Developed Countries (LDCs) : Antigua & Barbuda,Belize,Commonwealth of Dominica,Grenada,Republic of Haiti,Montserrat,Federation of St. Kitt77: Agreement between CARICOM Caribbean Community (CARICOM) More Developed Countries (MDCs) : Commonwealth of the Bahamas,Barbados,Co-operative Republic of Guyana, Jamaica, Republic of Suriname and Repub136: Most Favoured Nation duty rate treatement154: Preferential tariff Agreement between Caribbean Community (CARICOM) member states218: Preferential tariff for European Union countries229: Preferential tariff for Guatemala
Belize has a high level of specialization in Molasses (195), Bananas (140), Raw Sugar (131), Fruit Juice (116), and Other Vegetable Residues and Waste (94.9). Specialization is measured using RCA, an index that takes the ratio between Belize observed and expected exports in each product.
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 it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a 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 emissions.
Belize
