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 Belize
Economy - overview: The small, essentially private enterprise economy is based primarily on agriculture, agro-based industry, and merchandising, with tourism and construction assuming greater importance. Sugar, the chief crop, accounts for nearly half of exports, while the banana industry is the country's largest employer. The government's expansionary monetary and fiscal policies, initiated in September 1998, led to GDP growth of 6.4% in 1999 and 10.5% in 2000. Growth decelerated in 2001 to 3% due to the global slowdown and severe hurricane damage to agriculture, fishing, and tourism. Major concerns continue to be the rapidly expanding trade deficit and foreign debt. A key short-term objective remains the reduction of poverty with the help of international donors.
GDP: purchasing power parity - $830 million (2001 est.)
GDP - real growth rate: 3% (2001 est.)
GDP - per capita: purchasing power parity - $3,250 (2001 est.)
GDP - composition by sector: agriculture: 18% industry: 24% services: 58% (2001 est.)
Population below poverty line: 33% (1999 est.)
Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices): 1.7% (2001 est.)