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Indicators of economy in Belize

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.906 US Dollar per capita. In contrast, the GDP in Belize reached 4.115 US dollars per inhabitant, or 1.64 bn US Dollar in the whole country. Belize is currently at number 184 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant taking into account the purchasing power parity, then Belize is in the list of the world's richest countries in place 131.

Inflation in Belize was in 2017 at around 1.15%. For the the EU, the average of the same was year at 0.50%. In the United States, it was most recently 1.23%.

Compared with the USA, prices for daily consumer goods are around 26.7% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Belize

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic in 2020 were considerable in Belize. Overall, gross domestic product in 2020 fell from 1.98 billion US Dollar auf 1.64 billion US Dollar. With a large drop of 17.46 percent, the economy in Belize has struggled significantly more than other countries. The unemployment rate rose from 6.5 to 7.8 percent.

Unemployment rates in percent 1991 - 2020

Economic performance 2020

 Belize
Total
Belize
per capita
EU
Total
EU
per capita
GDP1.64 bn USD4,115.18 USD15,292.10 tn USD29,692.44 USD
Gross national product1.63 bn USD4,105.59 USD15,330.18 tn USD29,766.38 USD


Development of gross domestic product in million US Dollar 1979 - 2020



Im- and Exports 2020

 Belize
Total
Belize
per capita
EU
Total
EU
per capita
Imports901.82 m USD2,268.04 USD7,314.16 bn USD14,201.79 USD
Exports714.74 m USD1,797.54 USD7,834.94 bn USD15,212.97 USD


Development of imports and exports in million US dollars 1984 - 2020

Exports
Imports



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