Posted: Thursday, July 3, 2025. 10:04 pm CST.
By Aaron Humes: The secondary economic sector has seen a sharp decline of 8.7 percent, equivalent to a loss of $17.9 million, dropping from $206 million in the first quarter of 2024 to $188.1 million in the first quarter of 2025. This downturn is attributed primarily to a substantial decrease in manufacturing activities, particularly following reduced agricultural outputs from the primary sector.
The ‘Manufacturing’ industry faced a staggering contraction of 20.4 percent, largely influenced by an alarming 9.9 percent decline in beverage production. Notably, beer output reduced by 15.4 percent, while soft drink production experienced a significant 13.2 percent drop. These reductions were compounded by considerable decreases in agro-processed goods, with citrus concentrate output plummeting from 105 thousand gallons in the first quarter of 2024 to just 35 thousand gallons a year later. Additionally, sugar production took a hit, falling 36.9 percent from 78.2 thousand metric tons to 49.4 thousand metric tons, as lower deliveries of sugarcane from the primary sector impacted production levels.
In contrast to the challenges faced by the manufacturing sector, the energy industry reported positive developments. ‘Electricity’ generation increased by 9 percent, rising from 81.3 thousand megawatt hours to 88.7 thousand megawatt hours, driven by heightened demand. Furthermore, water consumption also saw an uptick of 1.5 percent, increasing from 730.3 million gallons to 741.6 million gallons during the same timeframe.
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The post Significant decline in manufacturing drives secondary sector down appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Thursday, July 3, 2025. 10:04 pm CST. By Aaron Humes: The secondary economic sector has seen a sharp decline of 8.7 percent, equivalent to a
The post Significant decline in manufacturing drives secondary sector down appeared first on Belize News and Opinion on www.breakingbelizenews.com.
