GDP in Belize
Belize - GDPEconomic momentum in the first quarter likely cooled amid a less favorable base effect. Moreover, industrial output contracted notably and the merchandise trade deficit widened, further dragging on the overall economy. Moving into the second quarter, the removal of all Covid-19 restrictions from April onwards bodes well for the tourism sector. Following stellar growth in the first quarter, arrivals jumped just over 168% in April year on year, improving even further. This should feed back into firming domestic demand. However, elevated price pressures will likely impede household spending somewhat. Particularly, transport and food prices ballooned. Elevated inflation is linked to the spillover effects from the war in Ukraine, which has pushed up global energy and food commodity prices.
Belize - GDP Data
|Economic Growth (GDP, annual variation in %)||2.8||0.1||1.9||2.1||-2.0|
5 years of economic forecasts for more than 30 economic indicators.
Belize GDP Chart
Source: Central Bank of Belize and FocusEconomics calculations.
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