by William Ysaguirre (Freelance Writer)

BELIZE CITY, Thurs. July 3, 2025

Belize produced a $1.486 Billion value of goods and services in the first 4 months of 2025, which was $29.5 million more or a 2.0 percent growth in Gross Domestic Product (GDP) over the $1.457 Billion produced in the first quarter of last year, the Statistical Institute of Belize (SIB) in Belmopan reported last Friday, June 27.

This growth was primarily in the tertiary sector – by 7.4 percent, as the primary sector (raw materials) decreased by 10.8 percent, which also influenced an 8.7 percent decrease in the secondary sector (goods manufacturing). The tertiary sector (services) produced $67.5 million more in this year’s first quarter, a $977.6 million value, up from the $910.1 million produced in last year’s first quarter.

The accommodation and food services industry grew by 12.2 percent, partially as a result of 5.2 percent more cruise passengers coming ashore – 398,300 visitors in this year’s first quarter, compared to 378,700 last year. More visitors sought overnight accommodation – 183,000 guests this year, or 1.9 percent more than the 179,600 guests who rented a room last year. The financial and insurance services sector also grew by 12.6 percent to $118.4 million in the first quarter this year, up from $105.2 million last year.

A shortfall in farm production in the primary sector in sugar and citrus led to an 8.7percent decline in the secondary sector. Bad weather and Fusarium disease led to less sugar cane deliveries, which fell 29.7 percent to 627,000 tonnes, when compared to 891,700 tonnes delivered in the same period last year. This led to the manufacturing sector producing 36.9 percent less sugar – 49,400 tonnes, compared to 78,200 tonnes in last year’s first quarter. Citrus production fell by 61 percent to a mere 2,400 tonnes in this year’s first quarter, down from 6,100 tonnes in the same period last year. Consequently, citrus concentrate production fell 66 percent, from 105,000 gallons in last year’s first quarter to 35,000 gallons this year.

Similarly, banana production fell 3.1 percent due to bad weather, from 22,400 tonnes last year to 21,700 tonnes this year. Livestock production also fell off by 7.6 percent, as ranchers produced 17.3 percent fewer cattle, and pig farmers slaughtered 12.3 percent fewer hogs. On the other hand, poultry production grew by 5.1 percent over the same period.

Marine exports increased by 38.5 percent to 605,800 pounds in this year’s first quarter, compared to 437,400 exported in the same period last year, despite a shortfall in shrimp production.

The secondary sector contracted 8.7 percent to $188.1 million, which was $17.9 million less than the $206 million produced last year. Manufacturing reduced by 20.4 percent, as beverage production fell 9.9 percent, with beer production showing a 15.4 percent drop, and 13.2 percent fewer soft drinks were sold. This was offset somewhat by a 9 percent increase in electricity generation to 88.7 thousand megawatt hours due to greater demand, compared to 81.3 thousand megawatt hours produced in the same time last year. Water consumption increased by 1.5 percent to 741.6 million gallons in this year’s first quarter, compared to 730.3 million gallons last year.

Belize’s external trade deficit also fell 5.5 percent or by $11.5 million, as exports grew by 11.1 percent or $4.6 million in May this year, while imports fell by 2.7 percent, compared to a year ago. Exports in May were valued at $45.7 million, while Belize exported only $41.2 million in value in May last year. Imports in May this year were valued at $244.5 million, which was $6.8 million less than $251.2 million imported last year May.