Posted: Wednesday, September 3, 2025. 12:56 pm CST.
By Aaron Humes: The balance of trade has narrowed, but both exports and imports have declined significantly in 2025, according to the Statistical Institute of Belize (SIB).
Merchandise exports for the first seven months of 2025 have declined by 5 percent compared to the same period last year, totaling $250.9 million. This decline represents a decrease of $13.2 million from $264.1 million recorded in 2024. In terms of imports, the country imported goods amounting to $1.653 billion in the first seven months of 2025, representing a 3.7 percent decrease of $63.6 million from the previous year.
The report highlights significant drops in several key export categories. Notably, molasses exports suffered a sharp decline, with revenues plummeting from $21.3 million in 2024 to just $9.8 million in 2025—a decrease of $11.5 million. This downturn is attributed to reduced export volumes and unfavorable global market prices. Additionally, cumulative earnings from sugar exports fell by $8 million from $96.2 million to $88.1 million, despite a strong performance in July. The animal feed sector also faced challenges, with revenue contracting from $9.4 million in 2024 to $6.4 million this year.
On a brighter note, several products saw remarkable gains during the same period. Marine products experienced a revenue increase of $5.5 million, rising from $17.3 million to $22.8 million. The banana export sector also thrived, generating $49.4 million—a $3.9 million increase over last year. Red kidney bean exports nearly doubled, and citrus sales rose, attributed to improved orange concentrate exports. The cattle and crude soybean oil sectors also reported earnings upticks of $1.3 million each.
In imports, the ‘Mineral Fuels and Lubricants’ category saw the most significant dip, with imports falling by $43.7 million due to reduced quantities and lower prices in the global market. The ‘Machinery and Transport Equipment’ sector recorded a notable decrease of $39.5 million, attributed to diminished importation of high-value machinery. Additionally, imports to the ‘Commercial Free Zone’ and ‘Designated Processing Areas’ also declined, reflecting a shift in consumer demand.
Conversely, several categories of imports saw increases. The ‘Manufactured Goods’ sector rose by $17.9 million, largely due to heightened purchases of galvanized steel coils and building cement. The ‘Food and Live Animals’ category increased by $10.5 million, driven by higher imports of orange concentrate and biscuits.
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The post Merchandise trade shows mixed results in first seven months of 2025 appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Wednesday, September 3, 2025. 12:56 pm CST. By Aaron Humes: The balance of trade has narrowed, but both exports and imports have declined significantly in
The post Merchandise trade shows mixed results in first seven months of 2025 appeared first on Belize News and Opinion on www.breakingbelizenews.com.
