Includes historical data for Belize’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
Economy Driven By Tourism, Hospitality, And Real Estate
With a population of just over 450,000 people, Belize stands as the smallest economy in Central America and the second-smallest by size after El Salvador. Yet, it boasts an exceptionally diverse geography, encompassing 300 kilometers of Caribbean coastline, approximately 450 islands or islets, vast expanses of rainforest, mountains and rivers, and the world’s second-largest barrier reef. International tourism is a significant driver of growth, contributing to around 40% of the economy, while foreign direct investment (FDI), facilitated by a currency pegged to the dollar, is predominantly focused on the hospitality and real estate sectors.
Yet, the over-reliance on tourism has its downsides. Despite the potential in mining, agro-business and trade, institutional weaknesses, regulatory inefficiencies and lack of transparency have hindered the development of a more diverse economic landscape. Further impediments include a fragile banking system, a small domestic market, and susceptibility to climatic events.
Macroeconomy & Sovereign Data
| Type of Government | Parliamentary democracy (National Assembly) under a constitutional monarchy; a Commonwealth realm |
|---|---|
| Capital | Belmopan |
| Sovereign Ratings |
S&P: B– Moody’s: B3 Fitch: B |
| Total Population | 460,000 |
| Median Age | 26.4 |
| Adult Per Capita Income (PPP) | 13,955.42 |
| Total GDP (2023) | 3.3 billion |
Belize GDP & Economic Overview
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Capital Raising & Corporate Finance
ANNUAL SURVEY: WORLD’S BEST BANKS 2014
Banking & Finance
Trade & Investment
| Total Exports | USD 1.6 billion (2023) |
|---|---|
| Leading Exports |
Raw Sugar Bananas Fishing Ships Lobsters And Crawfish Beer |
| Total Imports | USD 357.6 million (2022) |
| Leading Imports |
Recreational Boats Refined Petroleum Cigarettes Ships Natural Gas |
| Source: | World Integrated Trade Solution |
Belize Leading Companies
| Atlantic Bank Limited | Financials |
|---|---|
| Belize Telemedia | Telecommunication Services |
| Belize Electricity | Utilities |
| Bowen & Bowen | Brewers |
| The Belize Sugar Industries Limited (BSI) | Consumer Staples, Food Products |
| National Petroleum Corporation (NPC) | Energy |
Major Trade Partners — Import
| United States | 36% |
|---|---|
| China | 16% |
| Mexico | 13% |
| Guatemala | 12% |
| Trinidad and Tobago | 2% |
Major Trade Partners — Export
| United Kingdom | 23% |
|---|---|
| United States | 22% |
| Mexico | 8% |
| Guatemala | 7% |
| Ireland | 5% |
Global Finance Rankings & Awards
Data Sources:
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000