GDP in Belize

Belize GDP | Economic News & Forecasts

Belize - GDP

Economic 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

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)2.8  0.1  1.9  2.1  -2.0  

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Belize GDP Chart

Belize GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Central Bank of Belize and FocusEconomics calculations.

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