New economic data reveals Belize’s persistent trade imbalance has intensified through October 2025, with the nation’s import dependency significantly overshadowing its export capabilities. The Statistical Institute of Belize reports the trade deficit expanded by $58 million compared to the previous year, highlighting structural challenges in the country’s economic framework.
Despite a marginal reduction in import expenditure, which decreased by $17.1 million to $2.4 billion, the figure remains substantially higher than export earnings. The import portfolio continues to be dominated by essential machinery, mineral fuels, and manufactured goods—categories reflecting Belize’s industrial and consumer demands.
On the export front, revenues experienced a more pronounced contraction, declining by $24 million to approximately $340 million. The agricultural sector maintained its dominant position, with sugar retaining its status as the primary export commodity despite facing market pressures. Banana exports followed closely, while marine products and cattle contributed notably to the overall export composition.
Regionally, CARICOM member states remained the principal destination for Belizean goods, accounting for the largest share of export distribution. The United States and European Union markets followed respectively, demonstrating Belize’s diversified yet limited international trade partnerships.
The widening trade gap underscores Belize’s structural economic challenges, particularly its heavy reliance on imported energy resources, industrial equipment, and consumer products. This imbalance persists despite efforts to strengthen export sectors, indicating deeper systemic issues that may require policy interventions to enhance domestic production capabilities and reduce foreign dependency.