Belize concluded 2025 with a significantly expanded trade imbalance, according to newly released data from the Statistical Institute of Belize. The nation’s economic portrait revealed a stark contrast between surging import expenditures and collapsing export revenues during the critical December trading period.
Import figures soared by 17.7% year-over-year to reach $271.4 million in the final month of 2025. This substantial increase was propelled by several major capital acquisitions including a sailing catamaran, aircraft engine, and commercial kitchen equipment. Concurrently, the country experienced notable spikes in fuel imports alongside increased purchases of fertilizers, processed food items, and steel coils.
The export sector presented a dramatically different narrative, with earnings plummeting 68.2% from the previous December. Revenue crashed from $77 million in December 2024 to a mere $24.5 million one year later. This devastating decline was predominantly driven by the complete absence of bulk sugar shipments during the period, representing a nearly $50 million loss. Other traditional export commodities including molasses, citrus products, and marine goods similarly recorded diminished returns. Bananas emerged as the sole positive performer, climbing to $9 million in export value.
Geographic trade patterns underwent notable shifts throughout December. Export earnings from the United Kingdom deteriorated substantially, while sales to the United States, CARICOM nations, and Central American partners also declined. Conversely, shipments to European Union markets showed improvement primarily due to banana exports, and trade with Mexico expanded following increased cattle sales.
For the entirety of 2025, Belize’s import total reached $2.91 billion, remaining virtually unchanged from 2024 levels. Meanwhile, annual exports contracted by 16% to $390 million. The sugar sector again dominated this annual decline, though marginal relief was provided by marine products, bananas, beans, and cattle exports.