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Pricing

2022
Product
Exports | Imports $399M | $1.68B175 of 226 |  170 of 226
2022
Per Capita Product
Exports | Imports $983 | $4.15k193 of 220 |  116 of 220

About

Overview In 2022 Belize was the number 175 economy in the world in terms of total exports and the number 170 in total imports.

Exports The top exports of Belize are Raw Sugar ($81.2M), Bananas ($41.7M), Bran ($24.8M), Refined Petroleum ($21.2M), and Crustaceans ($20.2M), exporting mostly to United States ($86.5M), United Kingdom ($64.3M), Guatemala ($39.2M), Spain ($28.7M), and Honduras ($19.9M).

Imports The top imports of Belize are Refined Petroleum ($255M), Passenger and Cargo Ships ($150M), Rolled Tobacco ($77.1M), Petroleum Gas ($35.6M), and Computers ($30.9M), importing mostly from United States ($560M), China ($379M), Guatemala ($156M), Mexico ($130M), and Canada ($58.2M).

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Raw Sugar$81.2M
Top Destination (2022)United States$86.5M

In 2022, Belize exported a total of $399M, making it the number 175 exporter in the world. During the last five reported years the exports of Belize have changed by -$13.5M from $412M in 2017 to $399M in 2022.

The most recent exports are led by Raw Sugar ($81.2M), Bananas ($41.7M), Bran ($24.8M), Refined Petroleum ($21.2M), and Crustaceans ($20.2M). The most common destination for the exports of Belize are United States ($86.5M), United Kingdom ($64.3M), Guatemala ($39.2M), Spain ($28.7M), and Honduras ($19.9M).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
United States$18M (+ 26.2%)
Hungary$17.5M (+ 2.29k%)
Guatemala$11M (+ 38.9%)
Fastest Growing Import Markets (2021 - 2022)
China$182M (+ 92.4%)
United States$153M (+ 37.5%)
Canada$49.6M (+ 579%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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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 Bran (415), Molasses (315), Bananas (183), Raw Sugar (142), and Fruit Juice (59.5). Specialization is measured using RCA, an index that takes the ratio between Belize observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Belize according to the product complexity index (PCI) are Nucleic acids and their salts, whether or not chemically defined; other heterocyclic... (1.53), Stainless steel; flat-rolled products of width less than 600mm (1.51), Organo-sulphur compounds (1.37), Carboxyamide-function compounds; amide-function compounds of carbonic acid (1.35), and Prepared culture media for the development or maintenance of micro-organisms (including viruses... (1.22). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Belize according to the relatedness index, were Gold (0.14), Fish Fillets (0.13), Tropical Fruits (0.13), Other Oily Seeds (0.12), and Animal Meal and Pellets (0.12). 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.

Relatedness Space (2022)

Diversification Frontier

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Depth

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.

Diversification Frontier

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