Posted: Thursday, May 1, 2025. 12:42 pm CST.
By Aaron Humes: The volume of trade by Belize grew in March of 2025 per the Statistical Institute of Belize, with imports up five percent and exports up about 3.4 percent.
Total imports for the month reached $231.8 million, including a $14.8 million increase in purchases of ‘Mineral Fuels and Lubricants’ and a $3.8 million rise in ‘Chemical Products.’ However, the report noted a significant decline in ‘Machinery & Transport Equipment,’ which saw a decrease of $14.9 million, attributed to a one-time purchase that had occurred in March 2024.
For the first three months of 2025, Belize saw total imports amounting to $692.8 million, marking a 3.8% decline from $720.4 million in the same period last year.
Belize exported $30.7 million in goods in March, a 3.4% increase from $29.7 million in March 2024. The rise was significantly bolstered by citrus product sales, which surged from $0.7 million to $3.3 million. However, the report highlighted troubling declines in other areas, particularly in molasses exports, which dropped by $4.9 million, and sugar sales, which fell by $1.1 million.
For the first quarter of 2025, Belize’s total exports climbed to $71.5 million, representing a 5.8% increase from $67.6 million in the same timeframe last year.
Sales to CARICOM countries nearly doubled, jumping from $5.7 million to $10.8 million. Revenue from Mexico also saw an uptick, increasing by $0.9 million with greater cattle exports driving the boost. The United Kingdom contributed positively as well, with earnings climbing by $0.8 million due to an increase in banana exports.
Conversely, revenues from ‘Other’ countries experienced a downturn, primarily due to lower molasses exports and reduced sales to key markets such as the United States and the European Union (EU).
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The post Belize records import and export growth despite commodity fluctuations appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Thursday, May 1, 2025. 12:42 pm CST. By Aaron Humes: The volume of trade by Belize grew in March of 2025 per the Statistical Institute
The post Belize records import and export growth despite commodity fluctuations appeared first on Belize News and Opinion on www.breakingbelizenews.com.