Posted: Wednesday, September 3, 2025. 12:52 pm CST.
By Aaron Humes: The Statistical Institute of Belize’s (SIB) July 2025 trade report reveals that domestic exports’ total earnings reached $61.2 million, reflecting a decrease of 3.4 percent compared to the same month last year.
Despite being the highest monthly total recorded this year, July’s export figures fell short of the $63.3 million earned in July 2024, primarily due to significant drops in the sales of citrus products and molasses.
Key declines were seen in citrus exports, specifically orange concentrate, which plummeted by $3.8 million—from $7.3 million in July last year to just $3.5 million this year. Similarly, molasses revenues decreased sharply by $3.5 million, from $5.5 million down to $2 million, driven by both reduced export volumes and declining commodity prices. The export figures were compounded by disappointing sales of bananas and animal feed, with banana revenues falling from $6.9 million to $6 million and animal feed exports suffering a dramatic decline from $1.1 million to $0.5 million.
In contrast, certain sectors recorded gains. Sugar exports surged to $35.8 million, up by $3.7 million from $32.1 million in July 2024. Marine products also showed increased performance, benefiting from a rise in lobster tail exports that elevated earnings from $4.9 million to $6.5 million. Notably, revenues from red kidney beans rose from a modest $0.2 million to $0.7 million.
The geographical breakdown of exports revealed significant shifts. Notably, earnings from the United States saw a substantial decrease of $14.4 million, tumbling from $38.4 million in July 2024 to $24 million this year, largely due to reduced sales of sugar and molasses. A similar trend was observed with CARICOM countries, where revenues dropped by $4.1 million, from $12.6 million to $8.5 million, primarily due to lower exports of orange concentrate. Central American markets also experienced a slight decline, down by $0.5 million to $1 million, largely attributed to decreased sales of animal feed.
On a more positive note, the United Kingdom saw a remarkable increase in import figures, with earnings jumping from $6.3 million to $23.1 million, fueled by the increase in sugar exports.
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The post Domestic exports show mixed results in July 2025 appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Wednesday, September 3, 2025. 12:52 pm CST. By Aaron Humes: The Statistical Institute of Belize’s (SIB) July 2025 trade report reveals that domestic exports’ total
The post Domestic exports show mixed results in July 2025 appeared first on Belize News and Opinion on www.breakingbelizenews.com.