BELIZE CITY, Wed. Feb. 23, 2022– In the Statistical Institute of Belize’s (SIB) report on the country’s economic activity in the last quarter of 2021, the preliminary estimates from the SIB showed that the country’s annual Gross Domestic Product (GDP), which is the total value of goods and services produced or provided in the country, increased by 9.8%. The SIB noted that the country’s fourth-quarter GDP was $84.6 million higher than Belize’s GDP in the fourth quarter of 2020—a 14.8% increase. The increase is particularly notable in light of the steep decline of GDP at the end of 2020. And thus, Christopher Hulse, Statistician II at the SIB, stated, “We’re still approaching back to pre-pandemic production. So looking at 2019 GDP, we’re at -4.2%, in terms of production.”

The SIB further reported that the primary sector, which mainly involves the generation of revenue through sales of agricultural produce, grew in the fourth quarter of 2021 by 2.9 percent or by $1.7 million in comparison to the same period in 2020. Citrus fruit deliveries were up by 70.1 percent—increasing from 3.1 thousand metric tons in 2020 to 5.4 thousand metric tons. Banana production remained relatively constant, while there was a notable plunge in sugarcane deliveries in the last quarter. The SIB reported that no sugarcane was delivered in the last quarter of 2021, in contrast to 2020, when 16,700 metric tons of sugarcane were delivered. This was caused by the protest at the BSI mill, where cane farmers of the BSCFA staged a blockade at the entrance of the factory and as a result brought a temporary halt to cane deliveries. Production of livestock grew by 7.9 percent compared to the fourth quarter of 2020. Cattle production rose by 23 percent, from 10.4 thousand heads of cattle to 12.8 thousand heads of cattle, due largely to a 25 percent increase in cattle exports. Pig production rose by almost 15 percent, from 9.7 thousand heads to 11.1 thousand heads, due to heightened local demand. Poultry production was relatively stable—with the faintest uptick in production of 0.3%: increasing from 11 million pounds in the last quarter of 2020, to 11.03 million pounds at the end of 2021.

Output in the secondary sector, on the other hand, decreased by 19%, from $90 million in the fourth quarter of 2020 to $72.9 million. Local electricity generation decreased by 58.7%, primarily due to decreased rainfall, but water provision increased slightly by 5.3%.
The SIB’s report says, “construction activities grew by 2.1 percent from $20.6 million to $21 million, as reflected in increased loans for building and construction”. Also, there was increase of 14.6% in the ‘Manufacturing and Mining” category.

Beverage production increased 21.6% due to a rise in demand following an easing of restrictions on restaurants and bars and a marked increase in tourist arrivals, stated the SIB. Beer production increased significantly by 35%, while soft drink production grew by 4.3%. Rum production, however, dipped by 7%. There was a large surge in citrus concentrate production, which rose by 78.6%—from 51 thousand gallons in the fourth quarter of 2020 to 92 thousand gallons for the last quarter of last year, while crude petroleum slipped further downwards by 2.3%.

Output in the tertiary sector totaled $418 million for the end of the fourth quarter—an increase of 22.1 percent or $75.6 million compared to $342.5 million in the same period in 2020. There was also a leap of $38.4 million or 31.8 percent in the Wholesale and Retail Trade category—in which economic activity rose from $120.7 million to $159 million.

The resumption of cruise ship arrivals to Belize and the significant increase in the arrival of overnight tourists quadrupled the earnings in the ‘Hotel and Restaurants’ industry—which rose from $4.5 million dollars to $19.4 million. There was also a 42.3 percent increase in the Transportation and Communication category—with a recorded $45.5 million in 2020 rising to $64.7 million in 2021. Also, government services increased by 1.9 percent.