@Belize:Economy
Overview: The small, essentially private enterprise economy is based primarily on agriculture, agro-based industry, and merchandising, with tourism and construction assuming increasing importance. Agriculture accounts for about 30% of GDP and provides 75% of export earnings, while sugar, the chief crop, accounts for almost 40% of hard currency earnings. The US, Belize's main trading partner, is assisting in efforts to reduce dependency on sugar with an agricultural diversification program.
National product: GDP - purchasing power parity - $575 million (1994 est.)
National product real growth rate: 2% (1994 est.)
National product per capita: $2,750 (1994 est.)
Inflation rate (consumer prices): 5.5% (1991)
Unemployment rate: 10% (1993 est.)
Budget:
revenues: $126.8 million
expenditures: $123.1 million, including capital expenditures of $44.8
million (FY90/91 est.)
Exports: $115 million (f.o.b., 1993)
commodities: sugar, citrus fruits, bananas, clothing, fish products,
molasses, wood
partners: US 51%, UK, other EC (1992)
Imports: $281 million (c.i.f., 1993)
commodities: machinery and transportation equipment, food,
manufactured goods, fuels, chemicals, pharmaceuticals
partners: US 57%, UK 8%, other EC 7%, Mexico (1992)