Exports to the United Kingdom and European Union grew with a boost in sales of sugar and banana

By Zoila Palma Gonzalez: Data from the Statistical Institute of Belize (SIB) showed that for May 2024, exports recorded notable increases in revenues attributed to strengthened sales to the United Kingdom and the European Union.

However, declines were observed in exports to the United States and Central America.

Exports to the United Kingdom surged significantly, rising by $12.3 million from $5.6 million to $17.9 million compared to May 2023.

This increase was primarily driven by higher sales of sugar and bananas.

Exports of sugar and cocoa beans to the European Union also saw growth, contributing to a $1.7 million increase in earnings from the region.

Revenue rose from $3.5 million in May 2023 to $5.2 million in May 2024.

Increased sales of sugar to CARICOM countries bolstered revenues from this region, rising from $8.3 million to $9.4 million.

However, exports to the United States experienced a downturn, with revenues decreasing by $2.6 million from $5.9 million in May 2023 to $3.3 million in May 2024.

Reduced exports of conch, orange oil, and molasses contributed to this decline.

Similarly, exports to Central America declined sharply from $4.8 million to $2 million, primarily due to decreased sales of animal feed to the region.

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