Belize’s economy demonstrated robust expansion during the third quarter of 2025, with official statistics revealing a significant 6.1 percent increase in Gross Domestic Product. According to data released by the Statistical Institute of Belize, the nation generated approximately $1.22 billion in economic output between July and September, representing a $70 million improvement compared to the same period in 2024.
The economic upswing has translated into substantial gains for government revenues, with tax collections climbing to $175.2 million—an 8.4 percent surge from the previous year’s $161.7 million. This revenue growth primarily stems from increased consumption taxes, indicating heightened economic activity across consumer and business sectors.
Multiple industries contributed to this economic momentum. The agricultural and fisheries sector posted particularly strong results, with cattle production expanding by nearly one-third and seafood exports (including lobster) growing by 25 percent. Although shrimp, banana, and citrus production experienced declines, the overall sector maintained positive growth.
Construction activity accelerated dramatically with a 16 percent expansion, fueled by numerous infrastructure and development projects. The utilities sector also showed vigor, with electricity generation increasing by 14 percent and water consumption rising modestly.
Commercial enterprises reported strengthened performance, with wholesale and retail trade growing by 7 percent. Financial services, including banking and insurance, alongside government services, also contributed to the economic expansion.
Tourism emerged as another critical growth driver, with 105,600 overnight visitors and 116,600 cruise passengers arriving during the quarter—both figures representing increases over the previous year’s statistics.
While GDP growth typically correlates with job creation and income enhancement, economists note that this measurement alone doesn’t capture wealth distribution patterns or qualitative improvements in living standards across the population.