Current Account in Belize

Belize Current Account | Economic News & Forecasts

Belize - Current Account

GDP rebounded from Q1’s contraction in the second quarter, largely driven by the services sector. The key agricultural sector also expanded in the period, surpassing its pre-pandemic level. Turning to Q3, despite rising new Covid-19 cases and a curfew being in effect, signs are positive, with tourist arrivals still higher in July–August than Q2’s monthly average, albeit receding in August from July according to the latest available data. Moreover, soaring imports in the same two-month period continue to signal improved domestic dynamics. Meanwhile, exports were solid in July–August, chiefly driven by August’s jump thanks to higher sales of bulk sugar and upbeat demand from the EU. In other news, Mexico recently renewed Belize’s export license for shrimp after it had expired in 2019, boding well for marine exports.

Belize - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-10.0  -8.5  -7.8  -8.1  -     

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Belize Current Account Chart

Belize Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Belize and FocusEconomics calculations.

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