Flag description: blue with a narrow red stripe along the top and the bottom edges; centered is a large white disk bearing the coat of arms; the coat of arms features a shield flanked by two workers in front of a mahogany tree with the related motto SUB UMBRA FLOREO (I Flourish in the Shade) on a scroll at the bottom, all encircled by a green garland
Economy
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 20% 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.
GDP: purchasing power parity - $649 million (1996 est.)
GDP - real growth rate: 3% (1996 est.)
GDP - per capita: purchasing power parity - $2,960 (1996 est.)
GDP - composition by sector: agriculture: 20% industry: 27% services : 53% (1995 est.)
Inflation rate - consumer price index: 6.4% (1996 est.)
Labor force: total : 51,500 by occupation: agriculture 30%, services 16%, government 15.4%, commerce 11.2%, manufacturing 10.3% note: shortage of skilled labor and all types of technical personnel (1985)
Unemployment rate: 15% (1996 est.)