Belize Economy Overview
Belize has a small mainly private-enterprise economy. The main foreign exchange earner is tourism that precedes marine and agriculture products. Belize is also actively promoting international financial services.
The currency is the Belizean Dollar. The Belize Dollar has been pegged to USD at a rate of BZD 2 to USD 1 since May 1976.
The government´s monetary and fiscal policies initiated in September 1998 led to sturdy GDP growth averaging about 5% in 1999-2005 with peak of 10.8% in 2000. Major concerns are still the sizable trade deficit and foreign debt.
The 2005 Budget set a fiscal deficit target of 3% of GDP. It also proposed some unpopular revenue raising measures that included increased levies on businesses and professionals.
GDP (purchasing power parity) is USD 1 778 million
GDP (official exchange rate) is USD 908 million
GDP per capita (PPP) is USD 6 800.
Major trading partners of Belize are the United States of America and the United Kingdom.
In 2005, Belize´s largest export partners were US, UK, Jamaica and France, but its largest import partners were US, Mexico, Russia, Guatemala, Cuba, China and Spain.